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T R O U B L E D C O M P A N Y R E P O R T E R
Saturday, June 25, 2016, Vol. 20, No. 177
Headlines
NUO THERAPEUTICS: Suffers $1.84 Million Net Loss at May 5
PACIFIC SUNWEAR: Had $13.80 Million Net Loss at April 30
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NUO THERAPEUTICS: Suffers $1.84 Million Net Loss at May 5
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Nuo Therapeutics, Inc., filed with the U.S. Securities and Exchange
Commission its monthly operating report for the period from April
1, 2016 to May 5, 2016.
The Debtor posted a net loss of $1.84 million on $531,807 total
revenue for the reporting period, a slight decrease from $1.94
million net loss reported for March 31, 2016.
As of May 5, 2016, the Debtor had $65.56 million in total
assets, $10.27 million in total liabilities not subject to
compromise, $11.65 million in total liabilities subject to
compromise, and $45.53 million in total shareholders' equity.
At April 1, 2016, the Debtor had $733,779 cash. It listed $11
million in total receipts and $1.37 million in total disbursements.
At the end of the period, the Debtor had $10.37 million cash.
A copy of the monthly operating report is available at the SEC at:
https://is.gd/4GYfHs
About NUO Therapeutics
Nuo Therapeutics, Inc. filed a Chapter 11 bankruptcy petition
(Bankr. D. Del. Case No. 16-10192) on Jan. 26, 2016. The petition
was signed by David E. Jorden as acting chief executive officer and
acting chief financial officer.
Ashby & Geddes, P.A. represents the Debtor as counsel and Epiq
Bankruptcy Solutions, LLC serves as the Debtor's claims, balloting
and noticing agent. Hon. Mary F. Walrath has been assigned the
case.
The U.S. Trustee for Region 2 originally appointed three members
To the Official Committee of Unsecured Creditors. The U.S.
Trustee, on March 14, 2016, said New Hampshire Ball Bearings, Inc.,
has resigned from the Committee. The remaining committee members
are AAPC and CPA Global Limited.
PACIFIC SUNWEAR: Had $13.80 Million Net Loss at April 30
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Pacific Sunwear of California, Inc., et al., filed with the U.S.
Securities and Exchange Commission their monthly operating report
for the period from April 3, 2016 to April 30, 2016.
The Debtors' consolidated statement of operations showed a net loss
of $13.80 million on $45.70 million net sales for the reporting
period.
As of April 30, 2016, the Debtors listed consolidated total assets
of $250.31 million, consolidated total liabilities of $284.11
million, and -$33.80 million in consolidated total shareholders'
equity.
At April 30, 2016, the Debtors had total cash receipts of $51.40
million and total disbursements of $32.32 million.
A copy of the monthly operating report is available at the SEC at:
https://is.gd/2QaJ8o
About Pacific Sunwear
Founded in 1982 in Newport Beach, California, as a surf shop,
Pacific Sunwear of California, Inc., operates in the teen and
Young adult retail sector, selling men's and womens apparel,
accessories, and footwear. The Company went public in 1993 (NASDAQ:
PSUN), and peaked with 965 stores in 2006. At present, the Company
has approximately 593 retail locations nationwide under the names
"Pacific Sunwear" and "PacSun," which stores are principally in
mall locations. The Company has 2,000 full-time workers. Through
its ecommerce business, the Company operates an e-commerce site at
http://www.pacsun.com/
On April 7, 2016, Pacific Sunwear of California, Inc., and two
affiliated debtors each filed a voluntary petition for relief
under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy
Court for the District of Delaware. The cases are jointly
administered under Case No. 16-10882 and are pending before the
Honorable Laurie Selber Silverstein.
The Debtors sought Chapter 11 protection with a Chapter 11 plan
that would convert debt into equity.
The Debtors tapped Young Conaway Stargatt & Taylor, LLP, and Klee,
Tuchin, Bogdanoff & Stern LLP as attorneys; FTI Consulting, Inc.,
as financial advisor; Guggenheim Securities, LLC, as investment
banker; and Prime Clerk LLC as claims and noticing agent.
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then-ending.
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Troubled Company Reporter is a daily newsletter co-published
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