TCR_Public/160130.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, January 30, 2016, Vol. 20, No. 30

                            Headlines

CAL DIVE: Net Loss Increases to $2.92 Million in November
IPC INTERNATIONAL: Files Operating Report for June & July
IPC INTERNATIONAL: Files Operating Report for September & October
IPC INTERNATIONAL: Lists $1.40 Million Ending Cash in August
IPC INTERNATIONAL: Records $979,391 Cash at Nov. 30

LEE STEEL: Ends September With $1.74 Million Cash
LEE STEEL: Had $1.62MM Ending Cash Balance at Oct. 31
RELATIVITY FASHION: Reports $90.43 Million Net Profit in October
SIMPLY FASHION: Ending Cash Drops to $2.72 Million in July
SIMPLY FASHION: Ends June With $5.13 Million Cash

SIMPLY FASHION: Lists $2.17 Million Ending Cash at Sept 30
SIMPLY FASHION: Lists $2.31 Million Ending Cash at Aug. 31
SIMPLY FASHION: Posts $1.95 Million Ending Cash at Oct. 31
SIMPLY FASHION: Reports $1.77 Million Ending Cash at Nov. 30
STANDARD REGISTER: Incurs $2.27MM Net Loss in November

[*] Fitch Revises Oil & Gas Outlook to Negative on Lower Prices

                            *********

CAL DIVE: Net Loss Increases to $2.92 Million in November
---------------------------------------------------------
Cal Dive International, Inc., and its subsidiaries, on Dec. 30,
2015, filed their monthly operating report for November 2015.

Cal Dive Int'l. posted a $2.92 million net loss for November, an
increase from the $1.01 million net loss recorded for October.

As of Nov. 30, 2015, Cal Dive Int'l. had $196.03 million in total
assets, $304.30 million in total liabilities, and a -$108.27
million net equity.

Cal Dive Int'l. had $1.61 million at the start of the month.  It
listed $1.47 million in total receipts and $2.04 million in total
disbursements for the period.  The Debtor ended the month with
$1.04 million cash.

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

      http://bankrupt.com/misc/CALDIVEnov2015mor.pdf

                         About Cal Dive

Houston, Texas-based marine contractor Cal Dive International,
Inc., provides manned diving, pipelay and pipe burial, platform
installation and salvage, and light well intervention services to
the offshore oil and natural gas industry on the Gulf of Mexico
OCS, Northeastern U.S., Latin America, Southeast Asia, China,
Australia, West Africa, the Middle East, and Europe.  Cal Dive and
its U.S. subsidiaries filed simultaneous voluntary petitions
(Bankr. D. Del. Lead Case No. 15-10458) on March 3, 2015.

Through the Chapter 11 process, the Company intends to sell non-
core assets and intends to reorganize or sell as a going concern
its core subsea contracting business.

Cal Dive disclosed total assets of $571 million and total debt of
$411 million as of Sept. 30, 2015.

The Debtors tapped Richards, Layton & Finger, P.A., as counsel,
O'Melveny & Myers LLP, as co-counsel; Jones Walker Jones Walker
LLP as corporate counsel; and Kurtzman Carson Consultants, LLC, as
claims and noticing agent.  The Debtors also tapped Carl Marks
Advisory Group LLC as crisis managers and appoint F. Duffield
Meyercord as chief restructuring officer.

The U.S. Trustee for Region 3 amended the committee of unsecured
creditors in the case from five-member committee to four members.
The Committee retained Akin Gump Strauss Hauer & Feld LLP and
Pepper Hamilton LLP as co-counsel; and Guggenheim Securities, LLC
as exclusive investment banker.

Cal Dive Offshore Contractors, Inc., disclosed total assets of
$233,273,806 and $311,339,932 in liabilities as of the Chapter 11
filing.



IPC INTERNATIONAL: Files Operating Report for June & July
---------------------------------------------------------
IPC International Corp., et al., filed, on Aug. 4, 2015, a
monthly operating report for June and July 2015.

The Debtors started June with $267,521 cash.  They recorded $710
in total receipts and $2,115 in total cash disbursements for
the month.  Disbursements include $1,893 in Senior Lender Success
Fees.  At the end of the month, cash balance was listed at $266,115
million.

The Debtors started July with $266,115 cash.  They recorded $1.10
million in total cash receipts and $994 in total cash disbursements
for the month.  Disbursements include $771 in Senior Lender Success
Fees.  At the end of the month, cash balance increased at $1.36
million.

A copy of the monthly operating report is available at:

   http://bankrupt.com/misc/IPCintljun-july2015mor.pdf

               About IPC International

Based in Bannockburn, Illinois, IPC International Corp., a
provider of security services for 350 shopping malls, filed a
petition for Chapter 11 protection (Bankr. D. Del. Case No.
13-12050) on Aug. 9, 2013, in Delaware after signing a contract
for Universal Protection Services LLC to buy the business, subject
to higher and better offers at an auction.  Bankruptcy was the
result of losses on a U.K. affiliate that was sold, as well as
competition and the cost of liability insurance.

Scott M. Strong signed the petition as chief financial officer.
The Debtor estimated assets and debts of at least $10 million.
Jeremy William Ryan, Esq., and Etta R. Mayers, Esq., at Potter
Anderson & Corroon, LLP, serves as local counsel.  Paul V.
Possinger, Esq., and Brandon W. Levitan, Esq., at Proskauer Rose,
LLP, serve as the Debtor's general bankruptcy counsel.  Silverman
Consulting, LLC, acts as the Debtor's financial advisor and
Livingstone Partners, LLP, serves as the Debtor's investment
banker.  KCC is the Debtor's noticing, claims and balloting agent.
Judge Mary F. Walrath presides over the case.

The Debtor disclosed $21,959,100 in assets and $31,056,575 in
liabilities as of the Chapter 11 filing.  Liabilities include $6.9
million on a revolving credit and $10.4 million on term loans owing
to PrivateBank & Trust Co., as agent.

PrivateBank also provided a $12 million loan to finance the
Chapter 11 case.  The DIP loan required quick sale.

A three-member panel has been appointed as the official unsecured
creditors committee in the case.  The panel consists of Weinberg,
Wheeler, Hudgins, Gunn & Dial, LLC; Mary Carmona-Rousse; and Drew
Eckl & Farnham, LLP.

In October 2013, IPC International won authorization to sell the
business for $25.4 million to Universal Protection Services.
Allied Security Holdings LLC, a competing bidder, forced Universal
to raise the offer at an auction early in October.  Universal
initially offered $21.3 million plus assumption of specified
liabilities.

On July 10, 2015, the Bankruptcy Court entered an order confirming
the First Amended Joint Plan of Liquidation of IPC International
Corporation and The Security Network Holdings Corporation.



IPC INTERNATIONAL: Files Operating Report for September & October
-----------------------------------------------------------------
IPC International Corp., et al., filed, on Dec. 15, 2015, a
monthly operating report for September & October 2015.

For September 2015, the Debtors posted $35,364 in total receipts
and $150,900 in total disbursements.  Disbursements include
$150,687 in Professional Fees.  They started the month with $1.4
million cash, and ended the month with $1.28 million cash.

For October 2015, the Debtors posted $18,679 in total receipts and
$338,467 in total disbursements.  Disbursements include $337,631 in
Professional Fees.  They started the month with $1.28 million cash,
and ended the month with $961,883 cash.

A copy of the monthly operating report is available at:

    http://bankrupt.com/misc/IPCintlsept-oct2015mor.pdf

                   About IPC International

Based in Bannockburn, Illinois, IPC International Corp., a
provider of security services for 350 shopping malls, filed a
petition for Chapter 11 protection (Bankr. D. Del. Case No.
13-12050) on Aug. 9, 2013, in Delaware after signing a contract
for Universal Protection Services LLC to buy the business, subject
to higher and better offers at an auction.  Bankruptcy was the
result of losses on a U.K. affiliate that was sold, as well as
competition and the cost of liability insurance.

Scott M. Strong signed the petition as chief financial officer.
The Debtor estimated assets and debts of at least $10 million.
Jeremy William Ryan, Esq., and Etta R. Mayers, Esq., at Potter
Anderson & Corroon, LLP, serves as local counsel.  Paul V.
Possinger, Esq., and Brandon W. Levitan, Esq., at Proskauer Rose,
LLP, serve as the Debtor's general bankruptcy counsel.  Silverman
Consulting, LLC, acts as the Debtor's financial advisor and
Livingstone Partners, LLP, serves as the Debtor's investment
banker.  KCC is the Debtor's noticing, claims and balloting agent.
Judge Mary F. Walrath presides over the case.

The Debtor disclosed $21,959,100 in assets and $31,056,575 in
liabilities as of the Chapter 11 filing.  Liabilities include $6.9
million on a revolving credit and $10.4 million on term loans
owing to PrivateBank & Trust Co., as agent.

PrivateBank also provided a $12 million loan to finance the
Chapter 11 case.  The DIP loan required quick sale.

A three-member panel has been appointed as the official unsecured
creditors committee in the case.  The panel consists of Weinberg,
Wheeler, Hudgins, Gunn & Dial, LLC; Mary Carmona-Rousse; and Drew
Eckl & Farnham, LLP.

In October 2013, IPC International won authorization to sell the
business for $25.4 million to Universal Protection Services.
Allied Security Holdings LLC, a competing bidder, forced Universal
to raise the offer at an auction early in October.  Universal
initially offered $21.3 million plus assumption of specified
liabilities.

On July 10, 2015, the Bankruptcy Court entered an order confirming
the First Amended Joint Plan of Liquidation of IPC International
Corporation and The Security Network Holdings Corporation.



IPC INTERNATIONAL: Lists $1.40 Million Ending Cash in August
------------------------------------------------------------
IPC International Corp., et al., filed, on Sept. 30, 2015, a
monthly operating report for August 2015.

The Debtors started August with $1.36 million cash.  They recorded
$35,792
in total cash receipts and $230 in total cash disbursements for
the month.  At the end of the month, cash balance sits at $1.40
million.

A copy of the monthly operating report is available at:

       http://bankrupt.com/misc/IPCintlaug2015mor.pdf

                    About IPC International

Based in Bannockburn, Illinois, IPC International Corp., a
provider of security services for 350 shopping malls, filed a
petition for Chapter 11 protection (Bankr. D. Del. Case No.
13-12050) on Aug. 9, 2013, in Delaware after signing a contract
for Universal Protection Services LLC to buy the business, subject
to higher and better offers at an auction.  Bankruptcy was the
result of losses on a U.K. affiliate that was sold, as well as
competition and the cost of liability insurance.

Scott M. Strong signed the petition as chief financial officer.
The Debtor estimated assets and debts of at least $10 million.
Jeremy William Ryan, Esq., and Etta R. Mayers, Esq., at Potter
Anderson & Corroon, LLP, serves as local counsel.  Paul V.
Possinger, Esq., and Brandon W. Levitan, Esq., at Proskauer Rose,
LLP, serve as the Debtor's general bankruptcy counsel.  Silverman
Consulting, LLC, acts as the Debtor's financial advisor and
Livingstone Partners, LLP, serves as the Debtor's investment
banker.  KCC is the Debtor's noticing, claims and balloting agent.
Judge Mary F. Walrath presides over the case.

The Debtor disclosed $21,959,100 in assets and $31,056,575 in
liabilities as of the Chapter 11 filing.  Liabilities include $6.9
million on a revolving credit and $10.4 million on term loans
owing to PrivateBank & Trust Co., as agent.

PrivateBank also provided a $12 million loan to finance the
Chapter 11 case.  The DIP loan required quick sale.

A three-member panel has been appointed as the official unsecured
creditors committee in the case.  The panel consists of Weinberg,
Wheeler, Hudgins, Gunn & Dial, LLC; Mary Carmona-Rousse; and Drew
Eckl & Farnham, LLP.

In October 2013, IPC International won authorization to sell the
business for $25.4 million to Universal Protection Services.
Allied Security Holdings LLC, a competing bidder, forced Universal
to raise the offer at an auction early in October.  Universal
initially offered $21.3 million plus assumption of specified
liabilities.

On July 10, 2015, the Bankruptcy Court entered an order confirming
the First Amended Joint Plan of Liquidation of IPC International
Corporation and The Security Network Holdings Corporation.



IPC INTERNATIONAL: Records $979,391 Cash at Nov. 30
---------------------------------------------------
IPC International Corp., et al., filed, on Dec. 15, 2015, a
monthly operating report for November 2015.

The Debtors started November with $961,883 cash.  They recorded
$24,023 in total cash receipts and $6,516 in total cash
disbursements for the month.  Disbursements include $6,378 in
Professional Fees.  At the end of the month, the Debtors had
$979,391 cash.

A copy of the monthly operating report is available at:

    http://bankrupt.com/misc/IPCintlnov2015mor.pdf

              About IPC International

Based in Bannockburn, Illinois, IPC International Corp., a
provider of security services for 350 shopping malls, filed a
petition for Chapter 11 protection (Bankr. D. Del. Case No.
13-12050) on Aug. 9, 2013, in Delaware after signing a contract
for Universal Protection Services LLC to buy the business, subject
to higher and better offers at an auction.  Bankruptcy was the
result of losses on a U.K. affiliate that was sold, as well as
competition and the cost of liability insurance.

Scott M. Strong signed the petition as chief financial officer.
The Debtor estimated assets and debts of at least $10 million.
Jeremy William Ryan, Esq., and Etta R. Mayers, Esq., at Potter
Anderson & Corroon, LLP, serves as local counsel.  Paul V.
Possinger, Esq., and Brandon W. Levitan, Esq., at Proskauer Rose,
LLP, serve as the Debtor's general bankruptcy counsel.  Silverman
Consulting, LLC, acts as the Debtor's financial advisor and
Livingstone Partners, LLP, serves as the Debtor's investment
banker.  KCC is the Debtor's noticing, claims and balloting agent.
Judge Mary F. Walrath presides over the case.

The Debtor disclosed $21,959,100 in assets and $31,056,575 in
liabilities as of the Chapter 11 filing.  Liabilities include $6.9
million on a revolving credit and $10.4 million on term loans
owing to PrivateBank & Trust Co., as agent.

PrivateBank also provided a $12 million loan to finance the
Chapter 11 case.  The DIP loan required quick sale.

A three-member panel has been appointed as the official unsecured
creditors committee in the case.  The panel consists of Weinberg,
Wheeler, Hudgins, Gunn & Dial, LLC; Mary Carmona-Rousse; and Drew
Eckl & Farnham, LLP.

In October 2013, IPC International won authorization to sell the
business for $25.4 million to Universal Protection Services.
Allied Security Holdings LLC, a competing bidder, forced Universal
to raise the offer at an auction early in October.  Universal
initially offered $21.3 million plus assumption of specified
liabilities.

On July 10, 2015, the Bankruptcy Court entered an order confirming
the First Amended Joint Plan of Liquidation of IPC International
Corporation and The Security Network Holdings Corporation.



LEE STEEL: Ends September With $1.74 Million Cash
-------------------------------------------------
Lee Steel Corporation filed on November 2, 2015,
its monthly operating report for September 2015.

At September 30, the Debtor had $2.14 million in total assets,
$13.48 million in total liabilities, and $11.31 million in total
shareholders' deficit.

The Debtor had a beginning cash balance of $7.33 million at
September 1.  It listed $4.29 million in total receipts and $9.88
million in total disbursements.  Ending cash balance was $1.74
million at September 30.

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

         http://bankrupt.com/misc/LeeSteel_Sept2015mor.pdf

                     About Lee Steel Corporation

Novi, Michigan-based Lee Steel Corp., provides flat rolled steel,
including hot rolled steel, cold rolled steel, and exposed coated
products for automotive and other manufacturing industries.

Lee Steel and 2 affiliated companies -- Taylor Industrial
Properties, L.L.C., and 4L Ventures, LLC -- filed for separate
bankruptcy protection (Bankr. D. Del. Case No. 15-45784) on April
13, 2015.

The Hon. Marci B. McIvor presides over the cases. Joshua A.
Gadharf, Esq., at McDonald Hopkins PLC, represents the Debtor.
Huron Business Advisory, serves as financial advisor; and Epiq
Bankruptcy Solutions serves as claims and noticing agent.

Lee Steel disclosed $63,206,282 in total assets and $62,659,806 in
total liabilities.

Hilco Global has purchased the steel processing facility located
at
the Lee Steel Corporation site in Romulus, Michigan. The deal
which
was approved in U.S. Bankruptcy Court includes a 200,000 square
foot plant and all of the steel processing equipment located at
that site. The sale is expected to close in mid-September.

The U.S. Trustee for Region 9 appointed three creditors to serve
on
the official committee of unsecured creditors. Conway Mackenzie,
Inc. serves as its financial advisor.

                           *     *     *

The Debtors sold their steel processing facility located in
Romulus, Michigan, to Hilco Global for $14 million.  The deal
which was approved in U.S. Bankruptcy Court includes a 200,000
square
foot plant and all of the steel processing equipment located at
that site.

Union Partners I, LLC, won an auction for the Debtors' Wyoming
facility and working capital assets with a $23.6 million offer.
Effective Sept. 18, 2015, the sale to Union Partners closed, and
the Debtors ceased operations and commenced the process of winding
down their affairs.  The Debtors changed their names to LSC
Liquidation Inc., et al., following the sale.


LEE STEEL: Had $1.62MM Ending Cash Balance at Oct. 31
-----------------------------------------------------
Lee Steel Corporation filed on November 20, 2015,
its monthly operating report for October 2015.

At October 31, the Debtor had $2.02 million in total assets,
$13.35 million in total liabilities, and $11.33 million in total
shareholders' deficit.

The Debtor had a beginning cash balance of $1.74 million at October
1.  It listed $12,928 in total receipts and $139,312 in total
disbursements.  Ending cash balance was $1.62 million at October
30.

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

         http://bankrupt.com/misc/LeeSteel_Oct2015mor.pdf

                  About Lee Steel Corporation

Novi, Michigan-based Lee Steel Corp., provides flat rolled steel,
including hot rolled steel, cold rolled steel, and exposed coated
products for automotive and other manufacturing industries.

Lee Steel and 2 affiliated companies -- Taylor Industrial
Properties, L.L.C., and 4L Ventures, LLC -- filed for separate
bankruptcy protection (Bankr. D. Del. Case No. 15-45784) on April
13, 2015.

The Hon. Marci B. McIvor presides over the cases. Joshua A.
Gadharf, Esq., at McDonald Hopkins PLC, represents the Debtor.
Huron Business Advisory, serves as financial advisor; and Epiq
Bankruptcy Solutions serves as claims and noticing agent.

Lee Steel disclosed $63,206,282 in total assets and $62,659,806 in
total liabilities.

Hilco Global has purchased the steel processing facility located
at
the Lee Steel Corporation site in Romulus, Michigan. The deal
which
was approved in U.S. Bankruptcy Court includes a 200,000 square
foot plant and all of the steel processing equipment located at
that site. The sale is expected to close in mid-September.

The U.S. Trustee for Region 9 appointed three creditors to serve
on
the official committee of unsecured creditors. Conway Mackenzie,
Inc. serves as its financial advisor.

                           *     *     *

The Debtors sold their steel processing facility located in
Romulus, Michigan, to Hilco Global for $14 million.  The deal
which
was approved in U.S. Bankruptcy Court includes a 200,000 square
foot plant and all of the steel processing equipment located at
that site.

Union Partners I, LLC, won an auction for the Debtors' Wyoming
facility and working capital assets with a $23.6 million offer.
Effective Sept. 18, 2015, the sale to Union Partners closed, and
the Debtors ceased operations and commenced the process of winding
down their affairs.  The Debtors changed their names to LSC
Liquidation Inc., et al., following the sale.



RELATIVITY FASHION: Reports $90.43 Million Net Profit in October
----------------------------------------------------------------
Relativity Fashion LLC, et al., on Dec. 22, 2015, filed their
monthly
operating report for October 2015.

The Debtors gained a net profit of $90.43 million on $2.28 million
net revenue in October, a complete turn around from $32.07 net loss
recorded in September.  The net profit is partially a result of
gain from the sale of Relativity Television.

At October 31, the Debtors had $265.86 million in total assets,
$963.54 million in total liabilities, and an $697.67 million total
shareholders' deficit.

The Debtors started the month with $71.91 million cash.  It listed
$35.62 million in total receipts and $33.53 million in total
disbursements.  Disbursements include $4.65 million in professional
fees.  At month end, the Debtors had $74 million cash.

A copy of the monthly operating report is available at:

      http://bankrupt.com/misc/RelativityFashionOct2015mor.pdf

                          About Relativity

Relativity -- http://relativitymedia.com/-- is a next-generation  

global media company engaged in multiple aspects of content
production and distribution, including movies, television, sports,
digital and music.  More than just a collection of
entertainment-related businesses, Relativity is a content engine
with the ability to leverage each of these business units,
independently and together, to create content across all mediums,
giving consumers what they want, when they want it.

Relativity Studios, the Company's largest division, has produced,
distributed or structured financing for more than 200 motion
pictures, generating more than $17 billion in worldwide box-office
revenue and earning 60 Oscar nominations.  Relativity's films
include Oculus, Safe Haven, Act of Valor, Immortals, Limitless,
and The Fighter.

Relativity Media LLC and its affiliates, including Relativity
Fashion, LLC, sought protection under Chapter 11 of the Bankruptcy
Code on July 30, 2015 (Bankr. S.D.N.Y., Case No. 15-11989).  The
case is assigned to Judge Michael E. Wiles.

The Debtors are represented by Craig A. Wolfe, Esq., Malani J.
Cademartori, Esq., and Blanka K. Wolfe, Esq., at Sheppard Mullin
Richter & Hampton LLP, in New York; and Richard L. Wynne, Esq.,
Bennett L. Spiegel, Esq., and Lori Sinanyan, Esq., at Jones Day,
in
New York.

Brian Kushner of FTI Consulting, Inc., serves as chief
restructuring officer and crisis and turnaround manager.  Luke
Schaeffer of FTI Consulting, Inc., serves as deputy CRO.

Blackstone Advisory Partners L.P. serves as the Debtors'
investment
banker.  The team is led by Timothy Coleman, Senior Managing
Director, CJ Brown, Senior Managing Director, Paul Sheaffer, Vice
President, and Joseph Goldschmid, Associate.

The Debtors' noticing and claims agent is Donlin, Recano &
Company,
Inc.

                           *     *     *

An investor group composed of Anchorage Capital Group, L.L.C.,
Falcon Investment Advisors, LLC and Luxor Capital Group, LP on
Oct.
21, 2015, completed its purchase of the assets of Relativity
Television.

After selling their TV business, the Debtors and CEO Ryan C.
Kavanaughfiled a proposed plan of reorganization that will allow
the Debtors to reorganize their non-TV business units with a
substantially de-levered balance sheet utilizing new equity
investments and new financing.  Jim Cantelupe, of Summit Trail
Advisors, LLC, has committed to work with the Debtors to raise up
to $100 million of new equity to fund the Plan.



SIMPLY FASHION: Ending Cash Drops to $2.72 Million in July
----------------------------------------------------------
Simply Fashion Stores Ltd., on August 24, 2015, filed its monthly
operating report for the period July 1 to 31, 2015.

The Debtor started the month with $5.13 million cash.  It listed
$623,654 in total receipts and $3.03 million in total
disbursements.  At July 31, the Debtor had $2.72 million cash, a
decrease from the $5.13 million ending cash recorded for June.

The Debtor's balance sheet and income statement were not available
as of the filing of its monthly operating report.  The Debtor said
it is in the process of bringing its accounting records current.

A copy of the monthly operating report is available at:

       http://bankrupt.com/misc/SIMPLYFASHION_jul2015mor.pdf

                     About Simply Fashion

Owned by the Shah family, Simply Fashion has 247 stores in 25
states across the country in major markets such as Detroit, Miami,
New Orleans, St. Louis, Chicago, Atlanta, Baltimore, Nashville and
Dallas. Founded in 1991, Simply Fashion is primarily a brick and
mortar retailer of Junior, Plus and Super Plus women's fashion
catering to African-American women between the ages of 25 and 55,
with locations in 25 states.

Adinath Corp. is the general partner of Simply Fashion.  It is
owned 100% by Bhavana Shah.

On April 16, 2015, Adinath and Simply Fashion Stores, Ltd., each
filed a voluntary petition for relief under Chapter 11 of the
United States Bankruptcy Code in Miami, Florida (Bankr. S.D. Fla.,
Case No. 15-16885).  The cases are under the Honorable Laurel M.
Isicoff.

The Debtors have tapped Berger Singerman LLP as counsel; Kapila
Mukamal, LLP, as restructuring advisor; and Prime Clerk LLC as
claims and noticing agent.

Simply Fashion estimated $10 million to $50 million in assets and
debt.

The U.S. Trustee for Region 21 appointed five creditors to serve
on
the official committee of unsecured creditors.

On July 24, 2015, the U.S. Trustee appointed James P.S. Leshaw as
consumer privacy ombudsman in the Debtors' Chapter 11 cases.


SIMPLY FASHION: Ends June With $5.13 Million Cash
-------------------------------------------------
Simply Fashion Stores Ltd., on July 23, 2015, filed its monthly
operating report for the period June 1 to 30, 2015.

The Debtor started the month with $6.28 million cash.  It listed
$11.08 million in total receipts and $12.23 million in total
disbursements.  At month end, the Debtor had $5.13 million cash.

The Debtor's balance sheet and income statement were not available
as of the filing of its monthly operating report.  The Debtor said
it is in the process of bringing its accounting records current.

A copy of the monthly operating report is available at:

      http://bankrupt.com/misc/SIMPLYFASHION_jun2015mor.pdf

                  About Simply Fashion

Owned by the Shah family, Simply Fashion has 247 stores in 25
states across the country in major markets such as Detroit, Miami,
New Orleans, St. Louis, Chicago, Atlanta, Baltimore, Nashville and
Dallas. Founded in 1991, Simply Fashion is primarily a brick and
mortar retailer of Junior, Plus and Super Plus women's fashion
catering to African-American women between the ages of 25 and 55,
with locations in 25 states.

Adinath Corp. is the general partner of Simply Fashion.  It is
owned 100% by Bhavana Shah.

On April 16, 2015, Adinath and Simply Fashion Stores, Ltd., each
filed a voluntary petition for relief under Chapter 11 of the
United States Bankruptcy Code in Miami, Florida (Bankr. S.D. Fla.,
Case No. 15-16885).  The cases are under the Honorable Laurel M.
Isicoff.

The Debtors have tapped Berger Singerman LLP as counsel; Kapila
Mukamal, LLP, as restructuring advisor; and Prime Clerk LLC as
claims and noticing agent.

Simply Fashion estimated $10 million to $50 million in assets and
debt.

The U.S. Trustee for Region 21 appointed five creditors to serve
on
the official committee of unsecured creditors.

On July 24, 2015, the U.S. Trustee appointed James P.S. Leshaw as
consumer privacy ombudsman in the Debtors' Chapter 11 cases.


SIMPLY FASHION: Lists $2.17 Million Ending Cash at Sept 30
----------------------------------------------------------
Simply Fashion Stores Ltd., on October 21, 2015, filed its monthly

operating report for the period September 1 to 30, 2015.

The Debtor started the month with $2.31 million cash.  It listed
$170,078 in total receipts and
$307,168 in total
disbursements.  At month end, the Debtor had $2.17 million cash.

The Debtor's balance sheet and income statement were not available
as of the filing of its monthly operating report.  The Debtor said
it is in the process of bringing its accounting records current.

A copy of the monthly operating report is available at:

      http://bankrupt.com/misc/SIMPLYFASHION_sept2015mor.pdf

                      About Simply Fashion

Owned by the Shah family, Simply Fashion has 247 stores in 25
states across the country in major markets such as Detroit, Miami,
New Orleans, St. Louis, Chicago, Atlanta, Baltimore, Nashville and
Dallas. Founded in 1991, Simply Fashion is primarily a brick and
mortar retailer of Junior, Plus and Super Plus women's fashion
catering to African-American women between the ages of 25 and 55,
with locations in 25 states.

Adinath Corp. is the general partner of Simply Fashion.  It is
owned 100% by Bhavana Shah.

On April 16, 2015, Adinath and Simply Fashion Stores, Ltd., each
filed a voluntary petition for relief under Chapter 11 of the
United States Bankruptcy Code in Miami, Florida (Bankr. S.D. Fla.,
Case No. 15-16885).  The cases are under the Honorable Laurel M.
Isicoff.

The Debtors have tapped Berger Singerman LLP as counsel; Kapila
Mukamal, LLP, as restructuring advisor; and Prime Clerk LLC as
claims and noticing agent.

Simply Fashion estimated $10 million to $50 million in assets and
debt.

The U.S. Trustee for Region 21 appointed five creditors to serve
on
the official committee of unsecured creditors.

On July 24, 2015, the U.S. Trustee appointed James P.S. Leshaw as
consumer privacy ombudsman in the Debtors' Chapter 11 cases.


SIMPLY FASHION: Lists $2.31 Million Ending Cash at Aug. 31
----------------------------------------------------------
Simply Fashion Stores Ltd., on September 22, 2015, filed its
monthly
operating report for the period August 1 to 31, 2015.

The Debtor started the month with $2.72 million cash.  It listed
$104,745 in total receipts and $517,126 in total
disbursements.  At month end, the Debtor had $2.31 million cash.

The Debtor's balance sheet and income statement were not available
as of the filing of its monthly operating report.  The Debtor said
it is in the process of bringing its accounting records current.

A copy of the monthly operating report is available at:

      http://bankrupt.com/misc/SIMPLYFASHION_aug2015mor.pdf

                     About Simply Fashion

Owned by the Shah family, Simply Fashion has 247 stores in 25
states across the country in major markets such as Detroit, Miami,
New Orleans, St. Louis, Chicago, Atlanta, Baltimore, Nashville and
Dallas. Founded in 1991, Simply Fashion is primarily a brick and
mortar retailer of Junior, Plus and Super Plus women's fashion
catering to African-American women between the ages of 25 and 55,
with locations in 25 states.

Adinath Corp. is the general partner of Simply Fashion.  It is
owned 100% by Bhavana Shah.

On April 16, 2015, Adinath and Simply Fashion Stores, Ltd., each
filed a voluntary petition for relief under Chapter 11 of the
United States Bankruptcy Code in Miami, Florida (Bankr. S.D. Fla.,
Case No. 15-16885).  The cases are under the Honorable Laurel M.
Isicoff.

The Debtors have tapped Berger Singerman LLP as counsel; Kapila
Mukamal, LLP, as restructuring advisor; and Prime Clerk LLC as
claims and noticing agent.

Simply Fashion estimated $10 million to $50 million in assets and
debt.

The U.S. Trustee for Region 21 appointed five creditors to serve
on
the official committee of unsecured creditors.

On July 24, 2015, the U.S. Trustee appointed James P.S. Leshaw as
consumer privacy ombudsman in the Debtors' Chapter 11 cases.


SIMPLY FASHION: Posts $1.95 Million Ending Cash at Oct. 31
----------------------------------------------------------
Simply Fashion Stores Ltd., on November 24, 2015, filed its monthly

operating report for the period October 1 to 31, 2015.

The Debtor started the month with $2.17 million cash.  It listed
$27,373 in total receipts and $252,670
in total
disbursements.  At month end, the Debtor had $1.95 million cash.

The Debtor's balance sheet and income statement were not available
as of the filing of its monthly operating report.  The Debtor said
it is in the process of bringing its accounting records current.

A copy of the monthly operating report is available at:

      http://bankrupt.com/misc/SIMPLYFASHION_oct2015mor.pdf

                      About Simply Fashion

Owned by the Shah family, Simply Fashion has 247 stores in 25
states across the country in major markets such as Detroit, Miami,
New Orleans, St. Louis, Chicago, Atlanta, Baltimore, Nashville and
Dallas. Founded in 1991, Simply Fashion is primarily a brick and
mortar retailer of Junior, Plus and Super Plus women's fashion
catering to African-American women between the ages of 25 and 55,
with locations in 25 states.

Adinath Corp. is the general partner of Simply Fashion.  It is
owned 100% by Bhavana Shah.

On April 16, 2015, Adinath and Simply Fashion Stores, Ltd., each
filed a voluntary petition for relief under Chapter 11 of the
United States Bankruptcy Code in Miami, Florida (Bankr. S.D. Fla.,
Case No. 15-16885).  The cases are under the Honorable Laurel M.
Isicoff.

The Debtors have tapped Berger Singerman LLP as counsel; Kapila
Mukamal, LLP, as restructuring advisor; and Prime Clerk LLC as
claims and noticing agent.

Simply Fashion estimated $10 million to $50 million in assets and
debt.

The U.S. Trustee for Region 21 appointed five creditors to serve
on
the official committee of unsecured creditors.

On July 24, 2015, the U.S. Trustee appointed James P.S. Leshaw as
consumer privacy ombudsman in the Debtors' Chapter 11 cases.


SIMPLY FASHION: Reports $1.77 Million Ending Cash at Nov. 30
------------------------------------------------------------
Simply Fashion Stores Ltd., on December 15, 2015, filed its monthly

operating report for the period November 1 to 30, 2015.

The Debtor started the month with $1.95 million cash.  It listed
$2,763 in total receipts and $176,472
in total
disbursements.  At month end, the Debtor had $1.77 million cash.

The Debtor's balance sheet and income statement were not available
as of the filing of its monthly operating report.  The Debtor said
it is in the process of bringing its accounting records current.

A copy of the monthly operating report is available at:

      http://bankrupt.com/misc/SIMPLYFASHION_nov2015mor.pdf

                    About Simply Fashion

Owned by the Shah family, Simply Fashion has 247 stores in 25
states across the country in major markets such as Detroit, Miami,
New Orleans, St. Louis, Chicago, Atlanta, Baltimore, Nashville and
Dallas. Founded in 1991, Simply Fashion is primarily a brick and
mortar retailer of Junior, Plus and Super Plus women's fashion
catering to African-American women between the ages of 25 and 55,
with locations in 25 states.

Adinath Corp. is the general partner of Simply Fashion.  It is
owned 100% by Bhavana Shah.

On April 16, 2015, Adinath and Simply Fashion Stores, Ltd., each
filed a voluntary petition for relief under Chapter 11 of the
United States Bankruptcy Code in Miami, Florida (Bankr. S.D. Fla.,
Case No. 15-16885).  The cases are under the Honorable Laurel M.
Isicoff.

The Debtors have tapped Berger Singerman LLP as counsel; Kapila
Mukamal, LLP, as restructuring advisor; and Prime Clerk LLC as
claims and noticing agent.

Simply Fashion estimated $10 million to $50 million in assets and
debt.

The U.S. Trustee for Region 21 appointed five creditors to serve
on
the official committee of unsecured creditors.

On July 24, 2015, the U.S. Trustee appointed James P.S. Leshaw as
consumer privacy ombudsman in the Debtors' Chapter 11 cases.


STANDARD REGISTER: Incurs $2.27MM Net Loss in November
------------------------------------------------------
The Standard Register Company, et. al., on Dec. 18, 2015, filed
their monthly operating report for the period November 2 to 29,
2015.

The Debtors incurred a net loss of $2.27 million for November.

As of Nov. 29, 2015, the Debtors recorded $10.76 million in
consolidated total
assets, $2.35 million in consolidated total liabilities not subject
to
compromise, $310.37 million in consolidated total liabilities
subject to
compromise, and a consolidated total shareholders' deficit of
$301.97 million.

The Debtors listed $224 inflows and total disbursements of $2.35
million for the period.  Disbursements include $1.69 million for
professional fees.

A copy of the monthly operating report is available at:

     http://bankrupt.com/misc/StandardRegisterNov2015mor.pdf

                   About Standard Register

Standard Register provides market-specific insights and a
compelling portfolio of workflow, content and analytics solutions
to address the changing business landscape in healthcare,
financial
services, manufacturing and retail markets.  The Company has
operations in all U.S. states and Puerto Rico, and currently
employs 3,500 full-time employees and 16 part-time employees.

The Standard Register Company and 10 affiliated debtors sought
Chapter 11 protection in Delaware on March 12, 2015, with plans to
launch a sale process where its largest secured lender would serve
as stalking horse bidder in an auction.

The cases are pending before the Honorable Judge Brendan L.
Shannon
and are jointly administered under Case No. 15-10541.

The Debtors have tapped Gibson, Dunn & Crutcher LLP and Young
Conaway Stargatt & Taylor LLP as counsel; McKinsey Recovery &
Transformation Services U.S., LLC, as restructuring advisors; and
Prime Clerk LLC as claims agent.

The Official Committee of Unsecured Creditors tapped Lowenstein
Sandler LLP as its counsel and Jefferies LLC as its exclusive
investment banker.




[*] Fitch Revises Oil & Gas Outlook to Negative on Lower Prices
---------------------------------------------------------------
Fitch Ratings has revised its 2016 rating outlook for the U.S. Oil
& Gas industry to Negative from Stable, reflecting the impact of
lower oil and gas prices, and Fitch's downward revision of its
corporate oil & gas price deck earlier this month. These factors
are likely to increase the number of negative ratings actions seen
across the sector.

As of Jan. 24, 2015, approximately 29% of companies in Fitch's U.S.
oil & gas portfolio had Negative Outlooks. Low prices hit high
yield oil & gas issuers hard last year, and they remain under
considerable stress in this downturn. Single 'B'-rated companies in
particular face a variety of challenges, including a higher cost
base, declining hedge coverage, lack of financeable assets and
limited market access.

The credit impact of lower oil and gas prices is beginning to
ripple out across the investment grade energy space. While most
investment grade names have decent liquidity, cost positions, capex
flexibility, and capital markets access, the current environment
has pressured credit metrics enough to put downward pressure on
ratings. Investment grade E&Ps currently on Negative Outlook
include ConocoPhillips, Hess, and Southwestern Energy Company.



                            *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

                            *********

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
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.  
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,
Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
Fernandez, Christopher G. Patalinghug, and Peter A. Chapman,
Editors.

Copyright 2016.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $975 for 6 months delivered via
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firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Peter A.
Chapman at 215-945-7000 or Nina Novak at 202-362-8552.

                   *** End of Transmission ***