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/raid1/www/Hosts/bankrupt/TCR_Public/161210.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, December 10, 2016, Vol. 20, No. 344 Headlines AEROPOSTALE INC: Suffers $63.91 Million Net Loss at October 1 CHC GROUP: Net Loss Decreases to $20.03 Milllion in September COSI INC: Suffers $833,499 Net Loss at October 24 REPUBLIC AIRWAYS: Reports $77.7 Million Net Loss in October ********* AEROPOSTALE INC: Suffers $63.91 Million Net Loss at October 1 ------------------------------------------------------------- Aeropostale, Inc., et. al., filed with the U.S. Securities and Exchange Commission their monthly operating report for the period from August 28, 2016 to October 1, 2016. The Debtors posted a consolidated net loss of $63.91 million on $96.10 million net sales for the period. As of October 1, 2016, the Debtors posted consolidated total assets of $485.05 million, consolidated total liabilities of $552.17 million, and -$67.11 million in consolidated total shareholders' equity. The Debtors listed 27.40 million in total disbursements for the period. A copy of the monthly operating report is available at the SEC at: https://is.gd/O9uJAP About Aeropostale, Inc. Aeropostale, Inc. (OTC Pink: AROPQ) is a specialty retailer of casual apparel and accessories, principally serving young women and men through its Aeropostale(R) and Aeropostale Factory(TM) stores and website and 4 to 12 year-olds through its P.S. From Aeropostale stores and website. The Company provides customers with a focused selection of high quality fashion and fashion basic merchandise at compelling values in an exciting and customer friendly store environment. Aeropostale maintains control over its proprietary brands by designing, sourcing, marketing and selling all of its own merchandise. As of May 1, 2016 the Company operated 739 Aeropostale(R) stores in 50 states and Puerto Rico, 41 Aeropostale stores in Canada and 25 P.S. from Aeropostale(R) stores in 12 states. In addition, pursuant to various licensing agreements, the Company's licensees currently operate 322 Aeropostale(R) and P.S. from Aeropostale(R) locations in the Middle East, Asia, Europe, and Latin America. Since November 2012, Aeropostale, Inc. has operated GoJane.com, an online women's fashion footwear and apparel retailer. Aeropostale, Inc., and 10 of its affiliates each filed a voluntary petition under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 16-11275) on May 4, 2016. The petitions were signed by Marc G. Schubac, senior vice president, general counsel and secretary. The Debtors listed total assets of $354.38 million and total debts of $390.02 million as of Jan. 30, 2016. The Debtors have hired Weil, Gotshal & Manges LLP as counsel; FTI Consulting, Inc., as restructuring advisor; Stifel, Nicolaus & Company, Inc., and Miller Buckfire & Company LLC as investment bankers; RCS Real Estate Advisors as real estate advisors; Prime Clerk LLC as claims and noticing agent; Stikeman Elliot LLP as Canadian counsel; and Togut, Segal & Segal LLP as conflicts counsel. Judge Sean H. Lane is assigned to the cases. The U.S. trustee for Region 2 on May 11, 2016, appointed seven creditors of Aeropostale Inc. to serve on the official committee of unsecured creditors. The Committee hired Pachulski Stang Ziehl & Jones LLP as counsel. CHC GROUP: Net Loss Decreases to $20.03 Milllion in September ------------------------------------------------------------- CHC Group Ltd., et al., on October 20, 2016, filed with the U.S. Securities and Exchange Commission their monthly operating report for September 2016. The Debtors suffered a net loss of $20.03 million on $70.91 million of revenue for the month, a decrease from $659.51 million net loss posted in August. The Debtors' balance sheet for the month recorded total assets of $2.93 billion, total current liabilities of $318.15 million, total non-current liabilities of $3.45 billion, convertible preferred shares of $643.97 million, and total shareholders' deficit of $1.48 billion. The Debtors had $172 million cash at the start of the month. They listed $82.84 million in total receipts and $79.93 million in total disbursements. Disbursements include $3.92 million in professional & UST fees. Taking into account $3.34 million in revaluation of non-USD cash balances, the Debtors had $178.25 million cash at month end. A copy of the monthly operating report is available at the SEC at: https://is.gd/QP2XC0 About CHC Group Ltd. Headquartered in Irving, Texas, CHC Group Ltd. is a global commercial helicopter services company primarily servicing the offshore oil and gas industry. CHC maintains bases on six continents with major operations in the North Sea, Brazil, Australia, and several locations across Africa, Eastern Europe, and South East Asia. CHC maintains a fleet of 230 medium and heavy helicopters, 67 of which are owned by it and the remainder are leased from various third-party lessors. CHC Group Ltd. and 42 of its wholly-owned subsidiaries each filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code (Bankr. N.D. Tex. Case No. 16-31854) on May 5, 2016. As of Jan. 31, 2016, CHG had $2.16 billion in total assets and $2.19 billion in total liabilities. The Debtors hired Weil, Gotshal & Manges LLP as counsel, Debevoise & Plimpton LLP as special aircraft counsel, PJT Partners LP as investment banker, Seabury Corporate Advisors LLC as financial advisor, CDG Group, LLC, as restructuring advisor, and Kurtzman Carson Consultants LLC as claims and noticing agent. The Office of the U.S. Trustee on May 13, 2016, appointed five creditors of CHC Group Ltd. to serve on the official committee of unsecured creditors. The Creditors Committee's attorneys are Marcus A. Helt, Esq., and Mark C. Moore, at Gardere Wynne Sewell LLP, and Douglas H. Mannal, Esq., Gregory A. Horowitz, Esq., and Anupama Yerramalli, Esq., at Kramer Levin Naftalis & Frankel LLP. Angelo, Gordon & Co. and Cross Ocean Partners, which either hold claims or manage funds and accounts that hold claims against the Debtors' estates arising on account of the 9.25% Senior Secured Notes due 2020 issued under the Indenture, dated as of Oct. 4, 2010, by and among CHC Helicopter S.A., as issuer, each of the guarantors named therein, HSBC Corporate Trustee Company (UK) Limited, as collateral agent, and the Bank of New York Mellon, as indenture trustee, are represented by Jones Day. COSI INC: Suffers $833,499 Net Loss at October 24 ------------------------------------------------- Cosi, Inc., filed with the U.S. Securities and Exchange Commission its monthly operating report for the period from September 28, 2016, to October 24, 2016. The Debtor's statement of operations listed a net loss of $833,499 on $4.75 million of net revenue for the current reporting period. As of October 24, 2016, the Debtor had $25.83 million in total assets, $22.22 million in total liabilities, and $3.60 million in total stockholders' equity. At September 28, 2016, the Debtor had $1.61 million cash. It had total receipts of $7.10 million and total disbursements of $5.77 million. Disbursements include $27,500 in professional fees and $1,625 in U.S. trustee quarterly fees. Thus, the Debtor had $2.93 million cash at October 24. A copy of the monthly operating report is available at the SEC at: https://is.gd/g1tzM4 About Cosi, Inc. Cosi -- http://www.getcosi.com/-- is an international fast casual restaurant company. There are currently 45 company-owned and 31 franchise restaurants operating in fourteen states, the District of Columbia, Costa Rica and the United Arab Emirates. Cosi, Inc. and its affiliated Debtors filed chapter 11 petitions (Bankr. D. Mass. Lead Case No. 16-13704-MSH) on Sept. 28, 2016. The Debtors are represented by Joseph H. Baldiga, Esq. and Paul W. Carey, Esq., at Mirick, O'Connell, DeMallie & Lougee, LLP. The O'Connor Group serves as their financial consultant. Randy Kominsky of Alliance for Financial Growth, Inc. has been tapped as chief restructuring officer to the Debtors. The U.S. Trustee appointed an Official Committee of Unsecured Creditors composed of: Robert J. Dourney, Honor S. Heath of Nstar Electric Company, and Paul Filtzer of SRI EIGHT 399 Boylston. The Creditors Committee is represented by Lee Harrington, Esq., at Nixon Peabody LLP. Deloitte Financial Advisory Services LLP serves as financial advisor for the Committee. REPUBLIC AIRWAYS: Reports $77.7 Million Net Loss in October ----------------------------------------------------------- Republic Airways Holdings Inc., et al., filed with the U.S. Securities and Exchange Commission their monthly operating report for October 2016. The Debtors' statement of operations listed a net loss of $77.7 million on $96.3 million of total operating revenues in October, as compared to $189.8 million net loss posted for September. As of October 31, 2016, the Debtors had $3.24 billion in total assets, $385.3 million in total current liabilities, $1.89 billion in long-term debt less current portion, $1.06 billion in liabilities subject to compromise, and $120.3 million in total stockholders' deficit. The Debtors had $174.9 million cash at the start of the month. They listed $24.9 million cash from operating activities, $1.9 million cash used in investing activities, and $40.9 million cash used in financing activities. Thus, the Debtors had $160.8 million cash at October 31. A copy of the monthly operating report is available at the SEC at: https://is.gd/aI8R2F About Republic Airways Based in Indianapolis, Indiana, Republic Airways Holdings Inc., (OTCMKTS:RJETQ) owns Republic Airline and Shuttle America Corporation. Republic Airline and Shuttle America -- http://www.rjet.com/-- offer approximately 1,000 flights daily to 105 cities in 38 states, Canada, the Caribbean and the Bahamas through Republic's fixed-fee codeshare agreements under our major airline partner brands of American Eagle, Delta Connection and United Express. The airlines currently employ about 6,000 Aviation professionals. Republic Airways Holdings Inc. and six affiliated debtors each filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code (Bankr. S.D.N.Y. Lead Case No. 16-10429) on Feb. 25, 2016. The petitions were signed by Joseph P. Allman as senior vice president and chief financial officer. Judge Sean H. Lane has been assigned the cases. As of Jan. 31, 2016, on a consolidated basis, Republic had assets and liabilities of $3,561,000,000 and $2,971,000,000 (unaudited), respectively. Zirinsky Law Partners PLLC and Hughes Hubbard & Reed LLP are serving as Republic's legal advisors in the restructuring. Seabury Group LLC is serving as financial advisor. Deloitte & Touche LLP is the independent auditor. Prime Clerk is the claims and noticing agent. The U.S. Trustee for Region 2 appointed seven creditors of Republic Airways Holdings Inc. to serve on the official committee of unsecured creditors. The Committee retained Morrison & Foerster LLP as attorneys and Imperial Capital, LLC, as investment banker and co-financial advisor. ********* 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. TCR subscribers have free access to our on-line news archive. Point your Web browser to http://TCRresources.bankrupt.com/and use the e-mail address to which your TCR is delivered to login. ********* 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. 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