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October 1, 2018 – Gibson Brands filed with the U.S. Bankruptcy Court a monthly operating report for August 2018 [Docket No. 862]. For the month, the consolidated Debtors reported operating income of $4.5 million and a net loss of $6.2 million on $23.8 million in net sales, the net loss reflecting primarily (i) $7.7 million in restructuring costs, principally comprised of $6.5 million in professional fees, and (ii) $2.3 million in interest expense. The Debtors further reported $16.7 million in cash receipts and $27.5 million in cash disbursements, with a net cash flow of $10.8 million. Cash at the beginning and end of the period was $26.9 million and $31.5 million, respectively.
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