Bankrupt SFX Ended Month $5.5 Million Richer Than It Started It
Late last week, SFX filed its monthly operating report for with the US Bankruptcy Court, alongside a request to increase the cash bonuses it was using to retain key employees, particularly at Beatport, and it contained a few surprises.
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SFX filed a monthly operating report for May 2016 with the US Bankruptcy Court late last week, showing that its ended the month with $5.5 million more in the bank than it started it.
Most of the leftover cash came thanks to 3 divisions: Beatport (+$2.3 million), SFX Entertainment (+$3.9 million) and Flavorus (+$1.7 million). Many divisions including SFX Marketing and Spring Awakening experienced losses.
You can read the full Monthly Operating Report here.
