/raid1/www/Hosts/bankrupt/TCR_Public/181020.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, October 20, 2018, Vol. 22, No. 292

                            Headlines

FIRESTAR DIAMOND: Incurs $2.3-Mil. Net Loss in August
TOPS HOLDING II: Records $881.6-Mil. Net Loss in August

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FIRESTAR DIAMOND: Incurs $2.3-Mil. Net Loss in August
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BankruptcyData.com reported that Firestar Diamond Inc. and Fantasy
filed with the U.S. Bankruptcy Court a combined monthly operating
report for August 2018. For the month, the combined Debtors
reported a net loss of $2.3 million on $37,324 in net revenue. The
Debtors further reported $354,887 in professional fees; $19,245 in
administrative expenses; $1.5 million in total operating expenses
before depreciation; $221,172 in total reorganization expenses and
$28,633 in depreciation/ depletion/ amortization. The Debtors
further reported $3.8 million in cash disbursements, including a
$3.2 million bank loan payment, and $4.8 million in cash receipts.
Cash at the beginning and end of the month was $3.6 million and
$4.5 million, respectively, with a net cash flow of $905,405.

                   About Firestar Diamond

Firestar Diamond Inc. procures, designs, manufactures, and
distributes diamond-studded jewelry.  Firestar Diamond's operations
span the USA, Europe, the Middle East, the Far East and India.  The
Company employs over 1200 people. Firestar Diamond has offices in
Mumbai, Surat, New York, Chicago, Johannesburg, Antwerp, Yerevan,
Dubai, and Hong Kong.  A. Jaffe, Inc., a subsidiary of Firestar
Diamond, designs and manufacturers wedding rings and wedding
bands.

Firestar Diamond, Inc., A. Jaffe, Inc., and Fantasy, Inc., sought
Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No. 18-10509) on
Feb. 26, 2018.  Firestar Diamond estimated assets and debt of $50
million to $100 million.

The Hon. Sean H. Lane is the case judge.

The Debtors tapped Ian R. Winters, Esq., at Klestadt Winters
Jureller Southard & Stevens, LLP as their bankruptcy counsel;
Forchelli Deegan Terrana LLP as conflicts counsel; Lackenbach
Siegel, LLP as special counsel; Getzler Henrich & Associates LLC
and its managing director Mark Samson as chief restructuring
officer; and Rust Consulting/Omni Bankruptcy as claims and noticing
agent.

Richard Levin, Esq., has been appointed as Chapter 11 Trustee of
Firestar Diamond, Inc.  He has tapped Jenner & Block, LLP, as his
attorneys; Alvarez & Marsal Disputes and Investigations, LLC, as
financial advisors; and Gem Certification & Assurance Lab, Inc., as
appraisers.

John J. Carney, Esq., has been appointed as examiner in the
Debtors' cases.  Alvarez & Marsal Disputes and Investigations, LLC,
has been tapped as his financial advisor.


TOPS HOLDING II: Records $881.6-Mil. Net Loss in August
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BankruptcyData.com reported that Tops Holding II filed with the
U.S. Bankruptcy Court a monthly operating report for the period of
Aug. 12, 2018 to Sept. 8, 2018. For the period, the Debtors
reported operating income of $4.7 million and a net loss of $881.6
million on $190.1 million in total net sales.
Reorganization-related costs of $881.6 million included one-time
expenses of $880.7 million for (i) allowed claims under the UFCW
Local One Benefits Fund Settlement Agreement and (ii) a 401(k)
contribution pursuant to the Debtors and UFCW District Union Local
One Settlement Agreement. The Debtors further reported (i) $136.4
million in total cost of goods sold and (ii) $48.9 million in total
operating expense. Cash at the beginning and end of the period was
$72.6 million and $69.2 million, respectively, with a negative net
cash flow of $3.4 million.

              About Tops Holding II Corporation

Tops Markets, LLC -- http://www.topsmarkets.com/-- is
headquartered in Williamsville, NY and operates 169 full-service
supermarkets with five additional by franchisees under the Tops
Markets banner.  Tops employs over 14,000 associates and is a
full-service grocery retailer in Upstate New York, Northern
Pennsylvania, and Vermont.

Tops Management, led by Frank Curci, its chairman and chief
executive officer, acquired Tops in December 2013 through a
leveraged buyout from Morgan Stanley's private equity arm.  Morgan
Stanley bought the company in 2007 from the Dutch retailer now
known as Koninklijke Ahold Delhaize NV.  In 2010, Tops acquired The
Penn Traffic Company, a local chain with 64 stores.  In 2012, it
purchased 21 Grand Union Family Markets stores.

Tops Holding II Corporation, and its subsidiaries, including Tops
Markets, LLC, sought Chapter 11 protection (Bankr. S.D.N.Y. Lead
Case No. 18-22279) on Feb. 21, 2018, to pursue a financial
restructuring that would eliminate a substantial portion of debt
from the Company's balance sheet and position Tops for long-term
success.

The Company listed total assets of $977 million and total
liabilities at $1.17 billion as of Dec. 30, 2017.

The Debtors hired Weil, Gotshal & Manges LLP as their legal
counsel; Hilco Real Estate, LLC as real estate advisor; Evercore
Group L.L.C. as investment banker; FTI Consulting, Inc., and
Michael Buenzow as chief restructuring officer; and Epiq Bankruptcy
Solutions, LLC, as their claims and noticing agent.

The U.S. Trustee for Region 2 appointed an official committee of
unsecured creditors on March 6, 2018.  The committee tapped
Morrison & Foerster LLP as its legal counsel, and Zolfo Cooper,
LLC, as its financial advisor and bankruptcy consultant.


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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
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
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