fixed length text file padding issues in AIX

Hi,

I have a fixed length text file that needs to be cut into individual files in aix and facing padding issues. If I have multiple blank spaces in the file it is just making it one while cutting the files..

Eg:-

$ - blank space

filename:file.txt

1234_A001Chris$$$$Professor$$CompuerScience
1234_A002Jhon$$$$Professor$$BilogicalSciences

Desired Output

filename:- 1234_A.txt

001Chris$$$$Professor$$CompuerScience
002Jhon$$$$Professor$$BilogicalSciences

As per the below code, I am getting the output with just 1 blank space no matter I have any number of blank spaces in the actual file.

while read LINE; do
  echo $LINE | cut -c7- >> $(echo $LINE | cut -c1-6).txt
done < file.txt

current output:-

001Chris$Professor$CompuerScience
002Jhon$Professor$BilogicalSciences

Desired Output

filename:- 1234_A.txt

001Chris$$$$Professor$$CompuerScience
002Jhon$$$$Professor$$BilogicalSciences

Please give your ideas..

Thx

Needs double quotes round $LINE in both places it is mentioned.

Thanks this is working...