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…

October 2, 2018 – Geoffrey, LLC, Toys “R” Us, Inc.’s intellectual property holding company subsidiary, announced that it was proceeding with a proposal to sell substantially all of its assets to a group of investors led by Geoffrey, LLC’s existing secured lenders. The press release states, “The announcement was made following a five month marketing…

October 2, 2018 – The Court hearing the ActiveCare case approved [Docket No.187] the (i) asset purchase agreement (“the APA”) between the Debtors and stalking horse bidder Telcare LLC (“Telcare” or “Purchaser”), a subsidiary of Biotelemetry, Inc. and (ii) the sale to Telcare of substantially all of the Debtors’ assets. The order states, “The Auction…

October 1, 2018 – iHeartMedia filed with the U.S. Bankruptcy Court a monthly operating report for August 2018 [Docket No. 1533]. For the month, the Company reported operating income of $76.8 million and a net Income of $66.9 million on $299.4 million in revenue. Operating expenses for the period were $222.0 million, comprised principally of…

October 2, 2018 – The Relay Company (f/k/a The Rockport Company) filed with the U.S. Bankruptcy Court a monthly operating report for August 2018 [Docket No. 530]. For the month, the the consolidated Debtors (which excludes Rockport Canada ULC) reported a loss from operations of $67.8 million and a net loss of $67.8 million on…

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…

October 1, 2018 – Toys “R” Us notfied the Court aof its intention to cancel its scheduled intellectual property auction and contemplated new, operating Toys “R” Us and Babies “R” Us branding company [Docket No. 5058]. The Debtors explain, “On June 28, 2018, the Court entered the Order (I) Amending the U.S. Intellectual Property Bidding…

October 1, 2018 – In a development first reported by the Wall Street Journal, two of the private equity owners of Toys “R” Us Inc. are considering a $20 million fund from which thousands of former employees of the bankrupt retailer would receive some form of severance payment. According to a person close to ongoing…