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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, July 21, 2018, Vol. 22, No. 201

                            Headlines

GIBSON BRANDS: Posts $8.9MM Net Loss in May
LOCKWOOD INT'L: Ends March With $850,000 Cash
PRINCETON ALTERNATIVE: Ends May With $10.1MM Cash
ROCKPORT COMPANY: Incurs $1.2MM Net Loss in May

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GIBSON BRANDS: Posts $8.9MM Net Loss in May
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BankruptcyData.com reported that Gibson Brands filed with the U.S.
Bankruptcy Court a monthly operating report for May 2018. For the
month, the consolidated Debtors reported a net loss of $9.9 million
on $22.4 million in net sales; $5.1 million in operating costs &
expenses; $2.5 million in professional fees and $8.1 million in
restructuring costs. The Debtors also reported $19.9 million in
cash disbursements with $21.5 million in cash receipts. Cash at the
beginning and end of the month was $4.3 million and $13.4 million,
respectively, with a net cash flow (excluding D.I.P. draws and
prepetition ABL paydowns) of $1.6 million.

            About Gibson Brands

Founded in 1894 and headquartered in Nashville, Tennessee, Gibson
Brands, Inc. -- http://www.gibson.com/-- and its subsidiaries
design and manufacture guitars and other fretted instruments.
Gibson's brands include the Les Paul, SG, Flying V, Explorer, J-45,
Hummingbird, and ES-335, among others.

Gibson Brands, Inc. and 11 affiliates commenced Chapter 11 cases
(Bankr. D. Del. Lead Case No. 18-11025) on May 1, 2018.  In its
petition, Gibson Brands estimated $100 million to $500 million in
assets and liabilities.  The petition was signed by Henry E.
Juszkiewicz, chief executive officer.

The Hon. Christopher S. Sontchi presides over the cases.  

The Debtors tapped Goodwin Procter LLP as their lead counsel;
Pepper Hamilton LLP as Delaware and conflicts counsel; Alvarez &
Marsal North America, LLC as restructuring advisor; Brian J. Fox,
managing director of Alvarez & Marsal North America LLC, as chief
restructuring officer; Jefferies LLC as investment banker; and
Prime Clerk LLC as claims and noticing agent.

Paul, Weiss, Rifkind, Wharton & Garrison LLP is providing legal
counsel, and PJT Partners is the financial advisor, to the ad hoc
group of unaffiliated noteholders that is supporting the Debtors'
restructuring.

The Office of the U.S. Trustee for Region 3 appointed an official
committee of unsecured creditors on May 9, 2018.  The Committee
tapped Lowenstein Sandler LLP as its legal counsel; and FTI
Consulting serves as financial advisor.


LOCKWOOD INT'L: Ends March With $850,000 Cash
---------------------------------------------
BankruptcyData.com reported that Lockwood International filed with
the U.S. Bankruptcy Court a monthly operating report for the month
of March 2018. For the month, the Company reported a $857,918 net
loss on $1.1 million in total revenue. General and administrative
expenses were $15,814, with $188,604 in depreciation; zero in
professional fees and $53,685 in total operating expense. The
Company also reported $391,231 in cash disbursements and $522,257
in cash receipts. Cash at the beginning and end of the period was
$719,471 and $850,497, respectively, with net cash flow of
$131,026.

                   About Lockwood International

Headquartered in Houston, Texas, Lockwood International, Inc. --
https://www.lockwoodint.com/ -- offers pipe, valves, fittings, and
flanges (PVF) and engineered products (liquid handling and
transfer, liquid measurement, and access and safety equipment).
The company was founded by Frank Lockwood in 1987 and has locations
in the United States, Canada, Europe, Asia and Australia.

Lockwood International and certain of its affiliates filed for
bankruptcy on January 24, 2018 (Bankr. S.D. Tex. Case No. 18-30268.
In the petition signed by CEO Michael F. Lockwood, the Debtors
estimated assets of $50 million to $100 million and liabilities of
$100 million to $500 million.

Judge David Jones presides over the case.  

Jason Brooker, Esq., and Lydia R. Webb, Esq., of Gray Reed & McGraw
LLP serve as counsel to the Debtors.  Spagnoletti & Co. acts as
special litigation counsel.


PRINCETON ALTERNATIVE: Ends May With $10.1MM Cash
-------------------------------------------------
BankruptcyData.com reported tht Princeton Alternative Income Fund
filed with the U.S. Bankruptcy Court a monthly operating report for
the month of May 2018. For the month, the consolidated Debtors
reported $13.1 million in cash disbursements and $13.2 million in
cash receipts. Cash at the beginning and end of May 2018 was $9.9
million and $10.1 million, respectively.

                   About Princeton Alternative

Princeton Alternative Income Fund, LP, and Princeton Alternative
Funding LLC, a fund management company, sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. D.N.J. Lead Case No.
18-14603) on March 9, 2018.

In the petitions signed by John Cook, authorized representative,
PAIF estimated assets of $50 million to $100 million and
liabilities of $1 million to $10 million.  PAF estimated assets of
less than $100,000 and liabilities of $1 million to $10 million.

Judge Michael B. Kaplan presides over the cases.  

Sills Cummis & Gross, P.C., is the Debtor's counsel.

The Debtors tapped JAMS/Hon. Steven Rhodes to provide mediation
services, to take place in New York City.


ROCKPORT COMPANY: Incurs $1.2MM Net Loss in May
-----------------------------------------------
BankruptcyData.com reported that the Rockport Company filed with
the U.S. Bankruptcy Court a monthly operating report for May 2018.
For the month, the Debtors reported a net loss of $1.2 million on
$13.9 million in net sales; $500 in selling, general &
administrative expenses and $2.1 million in restructuring charges.
The Debtors also reported $17.2 million in cash disbursements with
$21.5 million in cash receipts. Cash at the beginning and end of
the month was $5.8 million and $14.2 million, respectively, with a
net cash flow of $8.4 million.

              About The Rockport Company

The Rockport Company, LLC and its subsidiaries are global
designers, distributors, and retailers of comfort footwear in more
than 50 markets worldwide.

The Rockport Company, et al., sought Chapter 11 bankruptcy
protection (Bankr. D. Del. Case No. 18-11145) on May 14, 2018,
estimating under $100 million to $500 million in assets and
liabilities.

The Chapter 11 petitions were signed by Paul Kosturos, the Debtors'
interim chief financial officer.

Debtor Rockport Canada ULC is the operating entity for the Debtors'
business in Canada. Rockport Canada is a wholly-owned subsidiary of
Rockport, and all material decisions regarding Rockport Canada and
its operations are made by Rockport personnel in the United States.
Accordingly, the center of main interests for Rockport Canada is
located in the United States.  On May 16, 2018, the Debtors
commenced an ancillary proceeding under Part IV of the Companies'
Creditors Arrangement Act (Canada) in Toronto, Ontario, Canada
before the Ontario Superior Court of Justice (Commercial List).

The Debtor's counsel are Mark D. Collins, Esq., Michael J.
Merchant, Esq., Amanda R. Steele, Esq., Brendan J. Schlauch, Esq.,
and Megan E. Kenney, Esq., at Richards, Layton & Finger, P.A. The
Debtors' Canadian bankruptcy counsel is Borden Ladner Gervais LLP;
their investment banker is Houlihan Lokey Capital, Inc.; and their
restructuring and interim management advisor is Alvarez & Marsal
North America LLC.  Prime Clerk serves as the Debtors' claims,
noticing agent and administrative advisor. Deloitte Tax LLP, as tax
service provider.

Counsel to the Prepetition Noteholders and DIP Note Purchasers are
My Chi To, Esq., and Daniel E. Stroik, Esq., at Debevoise &
Plimpton LLP; Bradford J. Sandler, Esq., and James E. O'Neill,
Esq., at Pachulski Stang Ziehl & Jones LLP.

Counsel to the Collateral Agent and DIP Notes Agent are Joshua
Spencer, Esq., at Holland & Knight LLP; and Bradford J. Sandler,
Esq., and James E. O'Neill, Esq., at Pachulski Stang Ziehl & Jones
LLP.

Counsel to the ABL Administrative Agent and DIP ABL Agent are
Donald E. Rothman, Esq., Lon M. Singer, Esq., Jaime Rachel Koff,
Esq., and Jeremy Levesque, Esq., at Riemer Braunstein LLP; and
Gregory A. Taylor, Esq., at Ashby & Geddes, P.A.

Counsel to CB Marathon Opco, LLC, an affiliate of Charlesbank
Equity Fund IX, Limited Partnership, the Stalking Horse Bidder, are
Jon Herzog, Esq., Joseph F. Bernardi, Jr., Esq., and William
Weintraub, Esq., at Goodwin Procter LLP; and David Fournier, Esq.,
and Evelyn Meltzer, Esq., at Pepper Hamilton LLP.

The U.S. Trustee for Region 3 on May 23, 2018, appointed three
creditors to serve on the official committee of unsecured creditors
in the Chapter 11 case of The Rockport Company LLC. The Committee
taps Jay R. Indyke, Esq., Robert Winning, Esq., Sarah A. Carnes,
Esq., and Lauren A. Reichardt, Esq., at Cooley LLP, in New York;
and Christopher M. Samis, Esq., L. Katherine Good, Esq., and Aaron
H. Stulman, Esq., at Whiteford, Taylor & Preston LLC, in
Wilmington, Delaware.


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Troubled Company Reporter is a daily newsletter co-published
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