In a routine filing with the SEC, Baldwyn-based Hancock Fabrics reported that Joseph Borbely, the company’s senior vice president of store operations, on Sunday sold 1,573 common shares for $0.76 each, totaling $1,195.45. He still directly owns 23,427 shares.
Other Hancock news: Mark Stanford, Hancock’s former chief technology officer and vice president, now is a senior project manager for Retail Process Engineering and is working with Michael Kors, a retailer and fashion designer for luxury accessories and sportswear. Read the full press release.
Quarterly report from the Daily Journal (full filing):
Hancock Fabrics reported Oct. 28 it had a cash balance of $3.4 million at the end of the quarter that ended Oct. 4.
The craft and fabric retailer, which emerged from Chapter 11 bankruptcy protection Aug. 1, reported quarterly sales of $64.7 million. The retailer also benefited during the quarter from a capital infusion of $48.6 million, according to the unaudited post-confirmation quarterly summary report filed with the U.S. Securities and Exchange Commission.
During the quarter from July 6 to Oct. 4, Hancock paid out $115.7 million, with $35.9 million in disbursements related to the emergence plan.
As of Oct. 4, Hancock had total assets of $148.0 million.
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