TCR_Public/120211.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

           Saturday, February 11, 2012, Vol. 16, No. 41

                            Headlines

ATLANTIC & PACIFIC: Posts $8.1MM Net Loss in 4 Weeks Ended Dec. 31
CHEF SOLUTIONS: Reports $1.5 Million Net Income in December 2011
GENERAL MARITIME: Ends December 2011 With $9.15-Mil. Cash
NEBRASKA BOOK: Posts $133.4MM Net Loss in 9 Months Ended Dec. 2011
PFF BANCORP: Ends December 2011 With $42.34-Mil. Cash

TRAILER BRIDGE: Ends December 2011 With $16.3-Mil. Cash





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ATLANTIC & PACIFIC: Posts $8.1MM Net Loss in 4 Weeks Ended Dec. 31
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On Jan. 300, 2012, The Great Atlantic & Pacific Tea Company, Inc.,
and its U.S. subsidiaries filed their monthly operating report for
the period from Dec. 4, 2011, to Dec. 31, 2011, with the U.S.
Bankruptcy Court for the Southern District of New York.

The Debtors reported a net loss of $8.1 million on $549.5 million
of sales for the four weeks ended Dec. 31, 2011.  Income from
continuing operations before interest expense and reorganization
items was $7.5 million.  Interest expense was $10.3 million in the
month.  Reorganization expenses in the month totaled $5.0 million.

At Dec. 3, 2011, the Debtors' consolidated balance sheet showed
$2.105 billion in total assets, $3.476 billion in total
liabilities, $148.8 million in Series A redeemable preferred
stock, and a stockholders' deficit of $1.520 billion.  The Debtors
ended the period with $193.4 million in cash and cash equivalents
compared to $196.8 million at the beginning of the period.

A copy of the operating report is available for free at:

http://is.gd/ygSMec

                  About Great Atlantic & Pacific

Founded in 1859, Montvale, New Jersey-based Great Atlantic &
Pacific is a supermarket retailer, operating under a variety of
well-known trade names, or "banners" across the mid-Atlantic and
Northeastern United States.  Before filing for bankruptcy in 2010,
A&P operated 429 stores in 8 states and the District of Columbia
under the following trade names: A&P, Waldbaum's, Pathmark,
Pathmark Sav-a-Center, Best Cellars, The Food Emporium, Super
Foodmart, Super Fresh and Food Basics.  A&P had 41,000 employees
prior to the bankruptcy filing.

A&P and its affiliates filed Chapter 11 petitions (Bankr. S.D.N.Y.
Case No. 10-24549) on Dec. 12, 2010, in White Plains, New York.
In its petition, A&P reported total assets of $2.5 billion and
liabilities of $3.2 billion as of Sept. 11, 2010.

Paul M. Basta, Esq., James H.M. Sprayregen, Esq., and Ray C.
Schrock, Esq., at Kirkland & Ellis, LLP, in New York, and James J.
Mazza, Jr., Esq., at Kirkland & Ellis LLP, in Chicago, Illinois,
serve as counsel to the Debtors.  Kurtzman Carson Consultants LLC
is the claims and notice agent.  Lazard Freres & Co. LLC is the
financial advisor.  Huron Consulting Group is the management
consultant.  Dennis F. Dunne, Esq., Matthew S. Barr, Esq., and
Abhilash M. Raval, Esq., at Milbank, Tweed, Hadley & McCloy LLP,
represent the Official Committee of Unsecured Creditors.

A&P obtained court approval for a new contract with C&S Wholesale
Grocers Inc., its principal supplier.  The contract is designed to
save A&P $50 million a year when the supermarket operator emerges
from Chapter 11 reorganization.

A&P sold 12 Super-Fresh stores in the Baltimore-Washington area
for $37.83 million, plus the value of inventory.  Thirteen other
locations didn't attract buyers at auction and were closed mid-
July 2011.

On Nov. 14, 2011, the Company filed with the Bankruptcy Court a
proposed Chapter 11 plan.  On Dec. 20, 2011, the Bankruptcy Court
approved the adequacy of information in the disclosure statement
explaining the Plan.  A hearing before the Bankruptcy Court on the
confirmation of the Plan is scheduled for Feb. 6, 2012.


CHEF SOLUTIONS: Reports $1.5 Million Net Income in December 2011
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Chef Solutions Holdings, LLC, et al., reported net income of
$1.5 million on $0 sales for the month ended Dec. 31, 2011.  Loss
before reorganization items and taxes was $418,731.  The Debtors
incurred a total of $543,466 in professional fees in the month.
The net income includes a gain o related to the sale of assets to
Reser's of $2.4 million primarily driven by the write-off of
interest related to the Mistral sub-debt.

At Dec. 31, 2011, the Debtors' balance sheet showed $8.9 million
in total assets, $42.0 million in total liabilities, and a
member's deficit of $33.1 million.

A copy of the December 2011 operating report is available for free
at http://bankrupt.com/misc/chefsolutions.december2011mor.pdf

                       About Chef Solutions

Chef Solutions Inc., through subsidiary Orval Kent Food, is the
second largest manufacturer in North America of fresh prepared
foods for retail, foodservice and commercial channels.

Chef Solutions and its affiliates filed for Chapter 11 protection
(Bankr. D. Del. Case No. 11-13139) on Oct. 4, 2011, with the aim
of selling the business to a joint venture between Mistral Capital
Management LLC and Reser's Fine Foods Inc.  Debtor Orval Kent Food
Company disclosed $82,902,336 in assets and $126,085,311 in
liabilities in its schedules.

Judge Kevin Gross presides over the case.  Lawyers at Richards,
Layton & Finger, P.A., serve as the Debtors' bankruptcy counsel.
Donlin Recano is the claims and notice agent.  Piper Jaffray & Co.
has been hired as investment banker.  PricewaterhouseCoopers
serves as financial advisor.

A joint venture between Mistral Capital Management LLC and Reser's
Fine Foods Inc. has signed a contract to buy the business for
$36.4 million in cash and $25.3 million in secured debt.  The deal
is subject to higher and better offers.

Lowenstein Sandler PC and Polsinelli Shughart serve as counsel to
the creditors' committee appointed in the case.  Mesirow Financial
Consulting, LLC, is the financial advisor.


GENERAL MARITIME: Ends December 2011 With $9.15-Mil. Cash
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On Feb. 1, 2012, General Maritime Corporation, et al., filed
theirmonthly operating report for the period from Dec. 1, 2011,
through Dec. 31, 2011 with the U.S. Bankruptcy Court for the
Southern District of New York.

The Debtors reported a net loss of $20.5 million on $23.7 million
of voyage revenues for the period.  The Company reported an
operating loss of $7.0 million in the period.  Interest expense,
net was $8.0 million.  Other income was $108,704.  Professional
fees incurred in the month totaled $5.6 million.

The Debtors' balance sheet at Dec. 31, 2011, showed $1.666 billion
in total assets, $1.436 billion in total liabilities, and
shareholders' equity of $229.7 million.  The Debtors ended the
period with $9,158,769 cash.

A copy of the December 2011 operating report is available for
free at http://is.gd/pgSQUt

                   About General Maritime

New York-based General Maritime Corporation, through its
subsidiaries, provides international transportation services of
seaborne crude oil and petroleum products.  The Company's fleet is
comprised of VLCC, Suezmax, Aframax, Panamax and product carrier
vessels.  The fleet consisted of 30 owned vessels and three
chartered vessels.  The company generates substantially all of its
revenues by chartering its fleet to third-party customers.  The
largest customers include major international oil companies, oil
producers, and oil traders such as BP, Chevron Corporation, CITGO
Petroleum Corp., ConocoPhillips, Exxon Mobil Corporation, Hess
Corporation, Lukoil Oil Company, Stena AB, and Trafigura.

General Maritime and 56 subsidiaries filed for Chapter 11
protection (Bankr. S.D.N.Y. Lead Case No. 11-15285) on Nov. 17,
2011.  Douglas Mannal, Esq., and Adam C. Rogoff, Esq., at Kramer
Levin Naftalis & Frankel LLP, in New York, serve as counsel to the
Debtors.  Moelis & Company is the financial advisor.  Garden City
Group Inc. is the claims and notice agent.

Prepetition, General Maritime reached agreements with its key
senior lenders, including its bank group, led by Nordea Bank
Finland plc, New York Branch as administrative agent, as well as
affiliates of Oaktree Capital Management, L.P., on the terms of a
restructuring.  Under terms of the agreements, Oaktree will
provide a $175 million new equity investment in General Maritime
and convert its prepetition secured debt to equity.

In conjunction with the filing, General Maritime has received a
commitment for up to $100 million in new DIP financing from a
group of lenders led by Nordea as administrative agent.

Counsel for Nordea, as the DIP Agent and the Senior Agent, are
Thomas E. Lauria, Esq., and Scott Greissman, Esq., at White & Case
LLP.  Counsel for Oaktree Capital Management, the Junior Agent,
are Edward Sassower, Esq., and Brian Schartz, Esq., at Kirkland &
Ellis, LLP.

The Official Committee of Unsecured Creditors appointed in the
case has retained lawyers at Jones Day as Chapter 11 counsel.
Jones Day previously represented an ad hoc group of holders of the
12% Senior Notes due 2017 issued by General Maritime Corp.  This
representation began Sept. 20, 2011, and concluded Nov. 29, 2011,
with the agreement of all members of the Noteholders Committee.
The Creditors Committee also tapped Lowenstein Sandler PC as
special conflicts counsel.

The Noteholders Committee consisted of Capital Research and
Management Company, J.P. Morgan Investment Management, Inc., J.P.
Morgan Securities LLC, Stone Harbor Investment Partners LP and
Third Avenue Focused Credit Fund.

The Creditors Committee is comprised of Bank of New York Mellon
Corporate Trust, Stone Harbor Investment Partners, Delos
Investment Management, and Ultramar Agencia Maritima Ltda.


NEBRASKA BOOK: Posts $133.4MM Net Loss in 9 Months Ended Dec. 2011
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On Jan. 31, 2012, Nebraska Book Company, Inc., et al., filed their
monthly operating report for the period from Dec. 1, 2011, to
Dec. 31, 2011, with the Bankruptcy Court.

The Debtors reported a consolidated net loss of $133.4 million on
$382.2 million of revenues for the nine months ended Dec. 31,
2011.  Income tax benefit was $30.5 million for the period.

The Debtors' balance sheet at Dec. 31, 2011, showed $519.6 million
in total assets, $692.4 million in total liabilities,
$14.1 million in Series A redeemable preferred stock, and a
stockholders' deficit of $186.9 million .

Payments to professionals totaled $1,074,343 in December.

The Monthly Operating Report is available for free at:

http://is.gd/9h0MtG

                         About Nebraska Book

Lincoln, Nebraska-based Nebraska Book Company, Inc., is one of the
leading providers of new and used textbooks for college students
in the United States.  Nebraska Book and seven affiliates filed
separate Chapter 11 petitions (Bankr. D. Del. Case Nos. 11-12002
to 11-12009) on June 27, 2011.  Hon. Peter J. Walsh presides over
the case.  Lawyers at Kirkland & Ellis LLP and Pachulski Stang
Ziehl & Jones LLP, serve as the Debtors' bankruptcy counsel.  The
Debtors; restructuring advisors are AlixPartners LLC; the
investment bankers are Rothschild, Inc.; the auditors are Deloitte
& Touche LLP; and the claims agent is Kurtzman Carson Consultants
LLC.  As of the Petition Date, the Debtors had consolidated assets
of $657,215,757 and debts of $563,973,688.

JPMorgan Chase Bank N.A., as administrative agent for the DIP
lenders, is represented by lawyers at Richards, Layton & Finger,
P.A., and Simpson Thacher & Bartlett LLP.  J.P. Morgan Investment
Management Inc., the DIP arranger, is represented by lawyers at
Bayard, P.A., and Willkie Farr & Gallagher LLP.

An ad hoc committee of holders of more than 50% of the Debtors'
Second Lien Notes is represented by lawyers at Brown Rudnick.  An
ad hoc committee of holders of the Debtors' 8.625% unsecured
notes are represented by Milbank, Tweed, Hadley & McCloy LLP.

The Official Committee of Unsecured Creditors selected Lowenstein
Sandler LLP and Stevens & Lee, P.C., as lawyers and Mesirow
Financial Inc. as financial advisers.

Nebraska Book has been unable to confirm a pre-packaged Chapter 11
plan that would have swapped some of the existing debt for new
debt, cash and the new stock, due to an inability to secure $250
million in exit financing.  The company's exclusive period for
proposing a plan is set to expire on Jan. 23.


PFF BANCORP: Ends December 2011 With $42.34-Mil. Cash
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PFF Bancorp, Inc., Glencrest Investment Advisors, Inc., Glencrest
Insurance Services, Inc., Diversified Builder Services, Inc., and
PFF Real Estate Services, Inc., filed on Jan. 23, 2012, their
monthly operating reports for December 2011 with the United
States Bankruptcy Court for the District of Delaware.

PFF Bancorp reported a net loss of $118,688 for the period.

At Nov. 30, 2011, PFF Bancorp had total assets of $55.1 million,
total liabilities of $160.1 million, and a stockholders' deficit
of $105.0 million.

PFF Bancorp ended December 2011 with $42,342,142 cash, compared to
beginning cash of $42,346,305.

A copy of the operating report is available for free at:

http://is.gd/lWWSb8

                          About PFF Bancorp

PFF Bancorp Inc. -- http://www.pffbank.com/-- was a non-
diversified unitary savings and loan holding company within the
meaning of the Home Owners' Loan Act with headquarters formerly
located in Rancho Cucamonga, California.  Bancorp is the direct
parent of each of the remaining Debtors.

Prior to filing for bankruptcy, Bancorp was also the direct parent
of PFF Bank & Trust, a federally chartered savings institution,
and said bank's subsidiaries.  PFF Bank & Trust was taken over by
regulators in November 2008, with the deposits transferred by the
Federal Deposit Insurance Corp. to U.S. Bank NA.

PFF Bancorp Inc. and its affiliates sought Chapter 11 protection
on Dec. 5, 2008 (Bankr. D. Del. Case No. 08-13127 to
08-13131).  Chun I. Jang, Esq., and Paul N. Heath, Esq., at
Richards, Layton & Finger, P.A., serve as the Debtors' bankruptcy
counsel.  Kurtzman Carson Consultants LLC serves as the Debtors'
claims agent.  Jason W. Salib, Esq., at Blank Rome LLP, represents
the official committee of unsecured creditors as counsel.


TRAILER BRIDGE: Ends December 2011 With $16.3-Mil. Cash
-------------------------------------------------------
On Feb. 1, 2012, Trailer Bridge, Inc., filed its monthly
operating report for the period from Dec. 1, 2011, through
Dec. 31, 2011, with the U.S. Bankruptcy Court for the Middle
District of Florida.

The Debtor reported a net loss of $3.4 million on $9.6 million of
net revenue for the period.  Reorganization expenses totaled
$2.5 million for the period.

The Debtor's balance sheet at Dec. 31, 2011, showed $114.8 million
in total assets, $137.6 million in total liabilities, and a
stockholders' deficit of $22.8 million.

The Debtor ended the period with unrestricted cash and equivalents
of $16.3 million.  Beginning cash was $6.3 million.

A copy of the monthly operating report is available for free at:

        http://bankrupt.com/misc/trailerbridge.doc218.pdf

                       About Trailer Bridge

Jacksonville, Fla.-based Trailer Bridge, Inc. --
http://www.trailerbridge.com/-- provides integrated trucking and
marine freight service to and from all points in the lower 48
states and Puerto Rico and Dominican Republic.  This total
transportation system utilizes its own trucks, drivers, trailers,
containers and U.S. flag vessels to link the mainland with Puerto
Rico via marine facilities in Jacksonville, San Juan and Puerto
Plata.

Trailer Bridge filed a voluntary Chapter 11 petition (Bankr. M.D.
Fla. Case No. 11-08348) on Nov. 16, 2011, one day after its
$82.5 million 9.25% Senior Secured Notes became due.

Judge Jerry A. Funk presides over the case.  Gardner F. Davis,
Esq., at Foley & Lardner LLP, and DLA Piper LLP (US) serve as the
Debtor's counsel.  Global Hunter Securities LLC serves as the
Debtor's investment banker.  RAS Management Advisors LLC serves as
the Debtor's financial advisor.  The Debtor listed $97,345,981 in
assets, and $112,538,934 in liabilities.  The petition was signed
by Mark A. Tanner, co-chief executive officer.


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S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
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Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland,
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