Comment 14 for bug 1432529

oh, sorry I didn't see the log...
So it's making it as far a DEBUG-INFO-COLD-INIT.
Here is a small patch to narrow down the failure within there:

--- a/src/code/debug-info.lisp
+++ b/src/code/debug-info.lisp
@@ -303,9 +303,15 @@
 (defvar *!initial-debug-sources*)

 (defun !debug-info-cold-init ()
+ (write-string "Before G-U-T") (terpri)
   (let ((now (get-universal-time)))
+ (write-string "After G-U-T") (terpri)
     (dolist (debug-source *!initial-debug-sources*)
+ (write-string "Before FILE-WRITE-DATE ")
+ (write (debug-source-namestring debug-source))
+ (terpri)
       (let* ((namestring (debug-source-namestring debug-source))
              (timestamp (file-write-date namestring)))
+ (write-string "After FILE-WRITE-DATE") (terpri)
         (setf (debug-source-created debug-source) timestamp
               (debug-source-compiled debug-source) now)))))

You can't use FORMAT - the patch must be applied exactly as-is.
If successful, it should print:
COLD-INIT... (PACKAGE = "COMMON-LISP")
("Length(TLFs)= " 14243)
Before G-U-T
After G-U-T
Before FILE-WRITE-DATE "SYS:SRC;PCL;WALK.LISP"
After FILE-WRITE-DATE
... and many more