EX-99 2 0002.txt EXHIBIT 99.1 The Grand Union Company Case No. 00-39613 (NW) ----------------------- ------------- Debtor
---------------------------------------------------------------------------------------------------------------------- REVENUES Period 7 12 days ended October 14, 2000 ---------------------------------------------------------------------------------------------------------------------- Gross Revenues 145,544 62,376 ---------------------------------------------------------------------------------------------------------------------- Less: Returns and Allowances - - ---------------------------------------------------------------------------------------------------------------------- Net Revenue 145,544 62,376 ---------------------------------------------------------------------------------------------------------------------- COST OF GOODS SOLD ---------------------------------------------------------------------------------------------------------------------- Beginning Inventory 118,671 116,875 ---------------------------------------------------------------------------------------------------------------------- Add: Purchases 85,008 36,432 ---------------------------------------------------------------------------------------------------------------------- Add: Cost of Labor ---------------------------------------------------------------------------------------------------------------------- Add: Other Costs (attach schedule) 1,999 857 ---------------------------------------------------------------------------------------------------------------------- Less: Ending Inventory 115,530 115,530 ---------------------------------------------------------------------------------------------------------------------- Cost of Goods Sold 107,849 46,221 ---------------------------------------------------------------------------------------------------------------------- Gross Profit 37,695 16,155 ---------------------------------------------------------------------------------------------------------------------- OPERATING EXPENSES ---------------------------------------------------------------------------------------------------------------------- Advertising 1,561 669 ---------------------------------------------------------------------------------------------------------------------- Auto and Truck Expense - - ---------------------------------------------------------------------------------------------------------------------- Bad Debts - - ---------------------------------------------------------------------------------------------------------------------- Contributions - - ---------------------------------------------------------------------------------------------------------------------- Employee Benefits Programs 2,770 1,187 ---------------------------------------------------------------------------------------------------------------------- Insider Compensation - - ---------------------------------------------------------------------------------------------------------------------- Insurance 1,646 706 ---------------------------------------------------------------------------------------------------------------------- Management Fees/Bonuses 102 44 ---------------------------------------------------------------------------------------------------------------------- Office Expense - - ---------------------------------------------------------------------------------------------------------------------- Pension & Profit-Sharing Plans 197 85 ---------------------------------------------------------------------------------------------------------------------- Repairs and Maintenance 1,937 830 ---------------------------------------------------------------------------------------------------------------------- Rent and Lease Expense 3,839 1,645 ---------------------------------------------------------------------------------------------------------------------- Salaries/Commissions/Fees 17,700 7,586 ---------------------------------------------------------------------------------------------------------------------- Supplies 1,043 447 ---------------------------------------------------------------------------------------------------------------------- Taxes-Payroll 1,447 620 ---------------------------------------------------------------------------------------------------------------------- Taxes-Real Estate 879 377 ---------------------------------------------------------------------------------------------------------------------- Taxes-Other - - ---------------------------------------------------------------------------------------------------------------------- Travel and Entertainment - - ---------------------------------------------------------------------------------------------------------------------- Utilities 3,962 1,698 ---------------------------------------------------------------------------------------------------------------------- Other (attach schedule) 4,294 1,840 ---------------------------------------------------------------------------------------------------------------------- Total Operating Expenses Before Depreciation 41,376 17,733 ---------------------------------------------------------------------------------------------------------------------- Depreciation/Depletion/Amortization 142,819 1,327 ---------------------------------------------------------------------------------------------------------------------- Net Profit (Loss) Before Other Income & Expenses (146,500) (2,905) ---------------------------------------------------------------------------------------------------------------------- OTHER INCOME AND EXPENSES ---------------------------------------------------------------------------------------------------------------------- Other Income (attach schedule) - - ---------------------------------------------------------------------------------------------------------------------- Interest Expense 4,107 1,760 ---------------------------------------------------------------------------------------------------------------------- Other Expense (attach schedule) 2,701 1,157 ---------------------------------------------------------------------------------------------------------------------- Net Profit (Loss) Before Reorganization Items (154,970) (5,823) ---------------------------------------------------------------------------------------------------------------------- REORGANIZATION ITEMS ---------------------------------------------------------------------------------------------------------------------- Professional Fees - - ---------------------------------------------------------------------------------------------------------------------- U.S. Trustee Quarterly Fees - - ---------------------------------------------------------------------------------------------------------------------- Interest Earned on Accumulated Cash from Chapter 11 (see continuation sheet) - - ---------------------------------------------------------------------------------------------------------------------- Gain (Loss) from Sale of Equipment - - ---------------------------------------------------------------------------------------------------------------------- Other Reorganization Expenses (attach schedule) 1,662 713 ---------------------------------------------------------------------------------------------------------------------- Total Reorganization Expenses - - ---------------------------------------------------------------------------------------------------------------------- Income Taxes - - ---------------------------------------------------------------------------------------------------------------------- Net Profit (Loss) (136,961) (6,535) ----------------------------------------------------------------------------------------------------------------------
* "Insider" is defined in 11 U.S.C. Section 101(31) 5 The Grand Union Company Case No. 00-39613 (NW) ----------------------- ------------- Debtor ----------------------------------------------------------------------------- OTHER OPERATING EXPENSES Period 7 12 days ended October 14, 2000 ----------------------------------------------------------------------------- CHARGE CARD EXPENSE 551 236 OTHER OPERATING EXPENSES - - LIGHT REPAIRS & LAMP REPLACE 107 46 STORE DISBURSEMENTS 86 37 PENALTIES & FINES 15 6 BAD CHECKS 139 60 PREMISE SECURITY 105 45 LAUNDRY 52 22 CASH (OVER) SHORT 51 22 REFRIGERATION & WATER DAMAGE - - EQUIPMENT RENTAL 28 12 CASUALTY LOSS 124 53 SIGNS - - EXTERMINATING 9 4 SHOPPING CARTS 7 3 MISCELLANEOUS INCOME (253) (108) BANK SERVICE CHG/ARMORED CAR 261 112 CUSTOMER SERVICE CHARGES (7) (3) OTHER 149 64 --------- --------- TOTAL OTHER OPERATING EXPENSE 872 374 --------- --------- CAPITAL PROJECT EXPENSE 0 0 CORPORATE ADMIN EXPENSE 2,673 1,145 GRAND PROPERTIES 149 64 GRAND VIDEO - - CORPORATE COMMISSARY - - PRE-OPEN EXPENSE - - CLOSED STORE EXPENSE 49 21 TECHNOLOGY INITIATIVES - - MANAGEMENT FEE - - SUNDRY - - --------- --------- TOTAL OTHER OPERATING EXPENSES 4,294 1,840 ========= ========= 6 The Grand Union Company Case No. 00-39613 (NW) ----------------------- ------------- Debtor --------------------------------------------------------------------------- OTHER COSTS OF GOODS SOLD Period 7 12 days ended October 14, 2000 --------------------------------------------------------------------------- TRUCKING 556 238 WAREHOUSING 2,564 1,099 S & G SERVICES 279 120 ----------- ----------- TOTAL DISTRIBUTION 3,400 1,457 ----------- ----------- ADVERTISING & PROMO ALLOWANCE (3,965) (1,699) SPECIALTY FOODS (63) (27) CASH DISCOUNTS (119) (51) STOCK GAIN OR (LOSS) - GROCERY 620 266 - LIQUOR - - - GEN MDSE 466 200 - PHARMACY (42) (18) - SHRINK PROJ 24 10 ----------- ----------- TOTAL STOCK GAIN OR (LOSS) 1,068 458 ----------- ----------- SPECIAL PROMOTIONS 2,056 881 ----------- ----------- TRADING-MERCHANDISE (336) (144) -MEAT (429) (184) -PRODUCE (233) (100) -SERVICE (18) (8) LABEL EXP/ALLOW - - VENDOR COUPONS (59) (25) STATISTICAL GROSS ADJUSTMENT 44 19 WHSE INV GAIN(LOSS)-GROCERY 50 21 PHARMACY THIRD PARTY REC ADJ 21 9 FREQUENT SHOPPER EXPENSE 283 121 CLIPLESS COUPON EXPENSE 127 54 ADVERTISING PROGRAMS - - ----------- ----------- OTHER ADJ. TO GROSS MARGIN (552) (236) ----------- ----------- LIFO PROVISION 175 75 ----------- ----------- TOTAL OTHER COSTS OF GOODS SOLD 1,999 857 =========== =========== 7 The Grand Union Company Case No. 00-39613 (NW) ----------------------- ------------- Debtor Reporting Period: 16 days ended October 2, 2000 ----------------------------- BALANCE SHEET The Balance Sheet is to be completed on an accrual basis only. Pre-petition liabilities must be classified separately from postpetition obligations.
--------------------------------------------------------------------------------------------------------------------------------- ASSETS BOOK VALUE AT END OF CURRENT BOOK VALUE ON REPORTING MONTH PETITION DATE --------------------------------------------------------------------------------------------------------------------------------- CURRENT ASSETS --------------------------------------------------------------------------------------------------------------------------------- Unrestricted Cash and Equivalents 24,673 31,222 --------------------------------------------------------------------------------------------------------------------------------- Restricted Cash and Cash Equivalents (see continuation sheet) --------------------------------------------------------------------------------------------------------------------------------- Accounts Receivable (Net) 24,955 29,140 --------------------------------------------------------------------------------------------------------------------------------- Notes Receivable --------------------------------------------------------------------------------------------------------------------------------- Inventories 115,530 116,876 --------------------------------------------------------------------------------------------------------------------------------- Prepaid Expenses 21,209 5,810 --------------------------------------------------------------------------------------------------------------------------------- Professional Retainers --------------------------------------------------------------------------------------------------------------------------------- Other Current Assets (attach schedule) --------------------------------------------------------------------------------------------------------------------------------- TOTAL CURRENT ASSETS $ 186,367 $ 183,048 --------------------------------------------------------------------------------------------------------------------------------- PROPERTY AND EQUIPMENT --------------------------------------------------------------------------------------------------------------------------------- Real Property and Improvements --------------------------------------------------------------------------------------------------------------------------------- Machinery and Equipment --------------------------------------------------------------------------------------------------------------------------------- Furniture, Fixtures and Office Equipment --------------------------------------------------------------------------------------------------------------------------------- Leasehold Improvements --------------------------------------------------------------------------------------------------------------------------------- Vehicles --------------------------------------------------------------------------------------------------------------------------------- Less Accumulated Depreciation --------------------------------------------------------------------------------------------------------------------------------- TOTAL PROPERTY & EQUIPMENT $ 332,278 $ 345,187 --------------------------------------------------------------------------------------------------------------------------------- OTHER ASSETS --------------------------------------------------------------------------------------------------------------------------------- Loans to Insiders* --------------------------------------------------------------------------------------------------------------------------------- Other Assets (attach schedule) 56,054 60,215 --------------------------------------------------------------------------------------------------------------------------------- TOTAL OTHER ASSETS $ 56,054 $ 60,215 --------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------------------- TOTAL ASSETS $ 574,699 $ 588,450 --------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------------------- LIABILITIES AND OWNER EQUITY BOOK VALUE AT END OF CURRENT BOOK VALUE ON REPORTING MONTH PETITION DATE --------------------------------------------------------------------------------------------------------------------------------- LIABILITIES NOT SUBJECT TO COMPROMISE (Post-Petition) --------------------------------------------------------------------------------------------------------------------------------- Accounts Payable (85,265) (162,593) ---------------------------------------------------------------------------------------------------------------------------------- Taxes Payable (refer to FORM MOR-4) ---------------------------------------------------------------------------------------------------------------------------------- Wages Payable ---------------------------------------------------------------------------------------------------------------------------------- Notes Payable (1,000) (263,060) ---------------------------------------------------------------------------------------------------------------------------------- Rent / Leases - Building/Equipment (149,718) (160,737) ---------------------------------------------------------------------------------------------------------------------------------- Secured Debt / Adequate Protection Payments ---------------------------------------------------------------------------------------------------------------------------------- Professional Fees ---------------------------------------------------------------------------------------------------------------------------------- Amounts Due to Insiders* ---------------------------------------------------------------------------------------------------------------------------------- Other Postpetition Liabilities (attach schedule) (136,982) (210,800) ---------------------------------------------------------------------------------------------------------------------------------- TOTAL POSTPETITION LIABILITIES $ (372,965) $ (797,190) ---------------------------------------------------------------------------------------------------------------------------------- LIABILITIES SUBJECT TO COMPROMISE (Pre-Petition) ---------------------------------------------------------------------------------------------------------------------------------- Secured Debt (263,060) ---------------------------------------------------------------------------------------------------------------------------------- Priority Debt ---------------------------------------------------------------------------------------------------------------------------------- Unsecured Debt (171,958) ---------------------------------------------------------------------------------------------------------------------------------- TOTAL PRE-PETITION LIABILITIES $ (435,018) $ - ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- TOTAL LIABILITIES $ (807,983) $ (797,190) ---------------------------------------------------------------------------------------------------------------------------------- OWNER EQUITY ---------------------------------------------------------------------------------------------------------------------------------- Capital Stock (300) (300) ---------------------------------------------------------------------------------------------------------------------------------- Additional Paid in Capital (384,800) (384,800) ---------------------------------------------------------------------------------------------------------------------------------- Partners' Capital Account ---------------------------------------------------------------------------------------------------------------------------------- Owner's Equity Account ---------------------------------------------------------------------------------------------------------------------------------- Retained Earnings - Pre-Petition 593,840 593,840 ---------------------------------------------------------------------------------------------------------------------------------- 8 ---------------------------------------------------------------------------------------------------------------------------------- Retained Earnings - Post-Petition 24,544 ---------------------------------------------------------------------------------------------------------------------------------- Adjustments to Owner Equity (attach schedule) ---------------------------------------------------------------------------------------------------------------------------------- Postpetition Contributions (Distributions) (Draws) (attach schedule) ---------------------------------------------------------------------------------------------------------------------------------- NET OWNER EQUITY $ 233,284 $ 208,740 ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- TOTAL LIABILITIES AND OWNERS' EQUITY $ (574,699) $ (588,450) ---------------------------------------------------------------------------------------------------------------------------------- FORM MOR-3 * "Insider is defined in 11 U.S.C. Section 101(31). (9/99)
9 The Grand Union Company Case No. 00-39613 (NW) ----------------------- ------------- Debtor Reporting Period: 16 days ended October 2, 2000 ----------------------------- BALANCE SHEET
----------------------------------------------------------------------------------------------------------------------------------- ASSETS BOOK VALUE AT END OF CURRENT BOOK VALUE ON PETITION DATE REPORTING MONTH ----------------------------------------------------------------------------------------------------------------------------------- Other Current Assets ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- Other Assets ----------------------------------------------------------------------------------------------------------------------------------- Excess reorganization value, net - - ----------------------------------------------------------------------------------------------------------------------------------- Beneficial leases, net 43,802 47,717 ----------------------------------------------------------------------------------------------------------------------------------- Deferred tax asset - - ----------------------------------------------------------------------------------------------------------------------------------- Other assets 12,252 12,252 ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- Total 56,054 59,969 ----------------------------------------------------------------------------------------------------------------------------------- LIABILITIES AND OWNER EQUITY BOOK VALUE AT END OF CURRENT BOOK VALUE ON PETITION DATE REPORTING MONTH ----------------------------------------------------------------------------------------------------------------------------------- Other Postpetition Liabilities ----------------------------------------------------------------------------------------------------------------------------------- Adverse leases, net (59,850) (61,079) ----------------------------------------------------------------------------------------------------------------------------------- Other noncurrent liabilities (77,132) (149,721) ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- Total (136,982) (210,800) ----------------------------------------------------------------------------------------------------------------------------------- Adjustments to Owner Equity ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- Postpetition Contributions (Distributions) (Draws) ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------------- -----------------------------------------------------------------------------------------------------------------------------------
10 The Grand Union Company Case No. 00-39613 (NW) ----------------------- ------------- Debtor Reporting Period: October 2, 2000 ACCOUNTS RECEIVABLE RECONCILIATION AND AGING
------------------------------------------------------------------------------------ --------------------------------------- Accounts Receivable Reconciliation Amount ------------------------------------------------------------------------------------ --------------------------------------- Total Accounts Receivable at the beginning of the reporting period 34,801,315 ------------------------------------------------------------------------------------ --------------------------------------- + Amounts billed during the period 4,404,721 ------------------------------------------------------------------------------------ --------------------------------------- - Amounts collected during the period (10,066,257) ------------------------------------------------------------------------------------ --------------------------------------- Total Accounts Receivable at the end of the reporting period 29,139,779 ------------------------------------------------------------------------------------ --------------------------------------- ------------------------------------------------------------------------------------ --------------------------------------- Accounts Receivable Aging Amount ------------------------------------------------------------------------------------ --------------------------------------- 0-30 days old 20,874,753 ------------------------------------------------------------------------------------ --------------------------------------- 31-60 days old 1,135,755 ------------------------------------------------------------------------------------ --------------------------------------- 61-90 days old 411,710 ------------------------------------------------------------------------------------ --------------------------------------- 91+ days old 10,631,593 ------------------------------------------------------------------------------------ --------------------------------------- Total Accounts Receivable 33,053,811 ------------------------------------------------------------------------------------ --------------------------------------- Amount considered uncollectible (Bad Debt) (3,914,032) ------------------------------------------------------------------------------------ --------------------------------------- Accounts Receivable (Net) 29,139,779 ------------------------------------------------------------------------------------ --------------------------------------- ------------------------------------------------------------------------------------ ---------------------------------------
DEBTOR QUESTIONNAIRE
------------------------------------------------------------------------------------ ------------------------ --------------------- Must be completed each month Yes No ------------------------------------------------------------------------------------ ------------------------ --------------------- 1. Have any assets been sold or transferred outside the normal course of business this reporting period? If yes, provide an explanation below. X ------------------------------------------------------------------------------------ ------------------------ --------------------- 2. Have any funds been disbursed from any account other than a debtor in possession account this reporting period? If yes, provide an explanation below. X ------------------------------------------------------------------------------------ ------------------------ --------------------- 3. Have all postpetition tax returns been timely filed? If no, provide an explanation below. X ------------------------------------------------------------------------------------ ------------------------ --------------------- 4. Are workers compensation, general liability and other necessary insurance coverages in effect? If no, provide an explanation below. X ------------------------------------------------------------------------------------ ------------------------ --------------------- ------------------------------------------------------------------------------------ ------------------------ ---------------------
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