Hostess Brands Inc., the baker of Wonder bread, said its operating loss narrowed to $7.2 million in August from $15.4 million in July.
The net loss was $9.4 million on sales of $181.5 million, according to an operating report filed Sept. 28 with the U.S. Bankruptcy Court for the four weeks ended Aug. 25. Contributing to the loss was $1.9 million of interest expense and $4 million in reorganization costs.
The loss before interest, taxes, depreciation and amortization was $772,000. Unrestricted cash fell $2.1 million to $36.9 million.
The bankruptcy court is set to hold a hearing on Oct. 3 in White Plains, New York, where Hostess will ask the judge to impose contract concessions on the bakery workers’ union.
Hostess, based in Irving, Texas, filed under Chapter 11 for a second time in January, listing assets of $982 million against liabilities totaling $1.43 billion.
The case is In re Hostess Brands Inc., 12-22052, U.S. Bankruptcy Court, Southern District of New York (White Plains).