-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, J6ijg9CQiQ0Pnxic5iYzXjh1Hurk8G2aw28zyX1shjhzpBaEeQGxkHmyXpecQozC Gn7gjV75QADG9KeBwQKwCg== 0000909518-01-000301.txt : 20010315 0000909518-01-000301.hdr.sgml : 20010315 ACCESSION NUMBER: 0000909518-01-000301 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20010313 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 20010314 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GRAND UNION CO /DE/ CENTRAL INDEX KEY: 0000316236 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-GROCERY STORES [5411] IRS NUMBER: 221518276 STATE OF INCORPORATION: DE FISCAL YEAR END: 0403 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-07824 FILM NUMBER: 1568352 BUSINESS ADDRESS: STREET 1: 201 WILLOWBROOK BLVD CITY: WAYNE STATE: NJ ZIP: 07470-0966 BUSINESS PHONE: 2018906000 MAIL ADDRESS: STREET 1: 201 WILLOWBROOK BLVD CITY: WAYNE STATE: NJ ZIP: 07470 FORMER COMPANY: FORMER CONFORMED NAME: SUCCESSOR TO GRAND UNION CO/VA/ DATE OF NAME CHANGE: 19600201 8-K 1 0001.txt ================================================================================ SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ------------------------ FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 ------------------------ Date of Report (Date of Earliest Event Reported): March 13, 2001 THE GRAND UNION COMPANY - -------------------------------------------------------------------------------- (Exact Name of Registrant as Specified in its Charter) DELAWARE - -------------------------------------------------------------------------------- (State or Other Jurisdiction of Incorporation) 0-26602 22-1518276 - -------------------------------------------------------------------------------- (Commission File Number) (I.R.S. Employer Identification No.) 201 WILLOWBROOK BOULEVARD WAYNE, NEW JERSEY 07470 - -------------------------------------------------------------------------------- (Address of Principal Executive offices) (Zip Code) (973) 890-6000 - -------------------------------------------------------------------------------- (Registrant's Telephone Number, Including Area Code NOT APPLICABLE - -------------------------------------------------------------------------------- (Former Name or Former Address, if changed Since Last Report) ================================================================================ NY2:\1024275\02\LYC302!.DOC\50318.0009 ITEM 5. OTHER EVENTS On March 13, 2001, The Grand Union Company (the Company"), which filed a voluntary chapter 11 petition in the United States Bankruptcy Court for the District of New Jersey (the "Bankruptcy Court") on October 3, 2000, filed with the Bankruptcy Court (i) unaudited statements of cash flows and operations for the 28 day and 124 day periods ended February 3, 2001, (ii) an unaudited balance sheet as at October 2, 2000, and February 3, 2001 and (iii) an unaudited statement of accounts receivable reconciliation and aging as at February 3, 2001 ((i), (ii) and (iii) collectively, the "Monthly Operating Reports"). A Copy of the Monthly Operating Reports is filed as Exhibit 99.1 to this Form 8-K and is hereby incorporated by reference. ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS Exhibit No. Exhibit - ----------- ------- 99.1 Monthly Operating Reports. 2 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this Report to be signed on its behalf by the undersigned thereunto duly authorized. THE GRAND UNION COMPANY Date: March 14, 2001. By: /s/ Glenn J. Smith ----------------------------------------- Glenn J. Smith Senior Vice President 3 EXHIBIT INDEX Exhibit No. Exhibit - ----------- ------- 99.1 Monthly Operating Reports. 4 EX-99 2 0002.txt EXHIBIT 99.1 Exhibit 99.1 ------------ UNITED STATES BANKRUPTCY COURT DISTRICT OF IN: GRAND UNION CASE NO. 00-39613(NW) ----------- --------------------- Debtor MONTHLY OPERATING REPORT (JANUARY 7-FEBRUARY 3) FILE WITH COURT AND SUBMIT COPY TO UNITED STATES TRUSTEE WITHIN 20 DAYS AFTER END OF MONTH Submit copy of report to any official committee appointed in the case.
- --------------------------------------------------------------- ------------------ ------------------- ------------------ REQUIRED DOCUMENTS FORM NO. DOCUMENT EXPLANATION ATTACHED ATTACHED - --------------------------------------------------------------- ------------------ ------------------- ------------------ Schedule of Cash Receipts and Disbursements MOR-1 - --------------------------------------------------------------- ------------------ ------------------- ------------------ Bank Reconciliation (or copies of debtor's bank MOR-1 (CONT) reconciliations) - --------------------------------------------------------------- ------------------ ------------------- ------------------ Copies of bank statements - --------------------------------------------------------------- ------------------ ------------------- ------------------ Cash disbursements journals - --------------------------------------------------------------- ------------------ ------------------- ------------------ Statement of Operations MOR-2 - --------------------------------------------------------------- ------------------ ------------------- ------------------ Balance Sheet MOR-3 - --------------------------------------------------------------- ------------------ ------------------- ------------------ Status of Postpetition Taxes MOR-4 - --------------------------------------------------------------- ------------------ ------------------- ------------------ Copies of IRS Form 6123 or payment receipt - --------------------------------------------------------------- ------------------ ------------------- ------------------ Copies of tax returns filed during reporting period - --------------------------------------------------------------- ------------------ ------------------- ------------------ Summary of Unpaid Postpetition Debts MOR-4 - --------------------------------------------------------------- ------------------ ------------------- ------------------ Listing of aged accounts payable - --------------------------------------------------------------- ------------------ ------------------- ------------------ Accounts Receivable Reconciliation and Aging MOR-5 - --------------------------------------------------------------- ------------------ ------------------- ------------------ Debtor Questionnaire MOR-5 - --------------------------------------------------------------- ------------------ ------------------- ------------------ I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the attached documents are true and correct to the best of my knowledge and belief. - ------------------------------------------------------- ---------------------------------------------------- Signature of Debtor Date - ------------------------------------------------------- ---------------------------------------------------- Signature of Joint Debtor Date - ------------------------------------------------------- ---------------------------------------------------- Signature of Authorized Individual* Date Jeffrey P. Freimark February 15, 2001 - ------------------------------------------------------- ---------------------------------------------------- Printed Name of Authorized Individual Date
*Authorized individual must be an officer, director or shareholder if debtor is a corporation; a partner if debtor is a partnership; a manager or member if debtor is a limited liability company. 5 In re: GRAND UNION Case No. 00-39613 (NW) ----------- ------------- Debtor Reporting Period: FEBRUARY 3, 2001 ---------------- SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS Amounts reported should be per the debtor's books, not the bank statement. The beginning cash should be the ending cash from the prior month or, if this is the first report, the amount should be the balance on the date the petition was filed. The amounts reported in the "CURRENT MONTH - ACTUAL" column must equal the sum of the four bank account columns. The amounts reported in the "PROJECTED" column should be taken from the SMALL BUSINESS INITIAL REPORT (FORM IR-1). Attach copies of the bank statements and the cash disbursements journal. The total disbursement listed in the disbursements journal must equal the total disbursements reported on this page. A bank reconciliation must be attached for each account. [See MOR-1 (CON'T)]
SEE ATTACHED DETAIL ----------------------------------------------------------------------------------------------------------------------------- CUMULATIVE FILING TO BANK ACCOUNTS CURRENT MONTH DATE OPER. PAYROLL TAX OTHER ACTUAL PROJECTED ACTUAL PROJECTED ----------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------- CASH SALES ----------------------------------------------------------------------------------------------------------------------------- ACCOUNTS RECEIVABLE ----------------------------------------------------------------------------------------------------------------------------- LOANS AND ADVANCES ----------------------------------------------------------------------------------------------------------------------------- SALE OF ASSETS ----------------------------------------------------------------------------------------------------------------------------- OTHER (ATTACH LIST) ----------------------------------------------------------------------------------------------------------------------------- TRANSFERS (FROM DIP ACCTS) ----------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------- NET PAYROLL ----------------------------------------------------------------------------------------------------------------------------- PAYROLL TAXES ----------------------------------------------------------------------------------------------------------------------------- SALES, USE & OTHER TAXES ----------------------------------------------------------------------------------------------------------------------------- INVENTORY PURCHASES ----------------------------------------------------------------------------------------------------------------------------- SECURED/ RENTAL/LEASES ----------------------------------------------------------------------------------------------------------------------------- INSURANCE ----------------------------------------------------------------------------------------------------------------------------- ADMINISTRATIVE ----------------------------------------------------------------------------------------------------------------------------- SELLING ----------------------------------------------------------------------------------------------------------------------------- OTHER (ATTACH LIST) ----------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------- OWNER DRAW* ----------------------------------------------------------------------------------------------------------------------------- TRANSFERS (TO DIP ACCTS) ----------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------- PROFESSIONAL FEES ----------------------------------------------------------------------------------------------------------------------------- U.S. TRUSTEE QUARTERLY FEES ----------------------------------------------------------------------------------------------------------------------------- COURT COSTS ----------------------------------------------------------------------------------------------------------------------------- TOTAL DISBURSEMENTS ----------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------- NET CASH FLOW (RECEIPTS LESS DISBURSEMENTS) ----------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------------------------- CASH - END OF MONTH ----------------------------------------------------------------------------------------------------------------------------- *COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE THE FOLLOWING SECTION MUST BE COMPLETED - ----------------------------------------------------------------------------------------------------------------- ------------ DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES: (FROM CURRENT MONTH ACTUAL COLUMN) - ----------------------------------------------------------------------------------------------------------------- ------------ TOTAL DISBURSEMENTS $ - ----------------------------------------------------------------------------------------------------------------- ------------ LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS $ - ----------------------------------------------------------------------------------------------------------------- ------------ PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCE (i.e. from escrow accounts) $ - ----------------------------------------------------------------------------------------------------------------- ------------ TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES $ - ----------------------------------------------------------------------------------------------------------------- ------------ FORM MOR-1 (9-99)
6 THE GRAND UNION COMPANY - ----------------------- CONSOLIDATED STATEMENT OF CASH FLOWS - ------------------------------------ (dollars in thousands) - ---------------------- (unaudited) - -----------
-------------------------------- 4 Weeks 124 Days Ended Ended February 3, February 3, 2001 2001 -------------------------------- OPERATING ACTIVITIES: Net (loss) $ 2,533 $ (42,408) Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities before reorganization items paid: Unusual items 1,299 6,599 Cumulative effect of accounting change - - Extraordinary items - - Depreciation and amortization 3,224 17,623 Pension and other non-cash items 361 1,673 Deferred taxes - - Non-cash interest 156 691 Gain on sale of property (821) (821) Net changes in assets and liabilities: Receivables (973) 486 Inventories 420 12,125 Other current assets (16,017) (30,702) Other assets 4,123 4,397 Accounts payable and accrued liabilities (20,057) (47,116) Other noncurrent liabilities (450) (1,316) -------------------------------- Net cash provided by (used for) operating activities before reorganization items paid (26,202) (77,979) Reorganization items paid - - -------------------------------- Net cash provided by (used for) operating activities (26,202) (77,979) -------------------------------- INVESTMENT ACTIVITIES: Capital expenditures (50) (4,114) Proceeds from sale of property - - Disposals of property 6,873 7,071 -------------------------------- Net cash provided by (used for) investment activities 6,823 2,957 -------------------------------- FINANCING ACTIVITIES: Proceeds from Revolving Credit Facility - 7,801 Proceeds from DIP facility 16,646 77,074 Repayment of Term Loan - (66) Repayment of Revolving Credit Facility - - Repayment of DIP Facility (31,646) (76,646) Auction Bid Escrow 34,980 100,545 Obligations under capital leases discharged (320) (1,539) -------------------------------- Net cash provided by (used for) financing activities 19,660 107,169 -------------------------------- NET INCREASE (DECREASE) IN CASH 282 32,148 CASH AT BEGINNING OF PERIOD 48,417 16,551 -------------------------------- CASH AT END OF PERIOD $ 48,699 $ 48,699 ================================
7 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 PETITION DATE REPORTING MONTH - ----------------------------------------------------------------------------------------------------------------------------------- FEBRUARY 3, 2001 OCTOBER 2, 2000 - ----------------------------------------------------------------------------------------------------------------------------------- CURRENT ASSETS - ----------------------------------------------------------------------------------------------------------------------------------- Unrestricted Cash and Equivalents 48,699 31,222 - ----------------------------------------------------------------------------------------------------------------------------------- Restricted Cash and Cash Equivalents (see continuation sheet) - ----------------------------------------------------------------------------------------------------------------------------------- Accounts Receivable (Net) 28,617 29,140 - ----------------------------------------------------------------------------------------------------------------------------------- Notes Receivable - ----------------------------------------------------------------------------------------------------------------------------------- Inventories 104,676 116,876 - ----------------------------------------------------------------------------------------------------------------------------------- Prepaid Expenses 45,239 5,810 - ----------------------------------------------------------------------------------------------------------------------------------- Professional Retainers - ----------------------------------------------------------------------------------------------------------------------------------- Other Current Assets (attach schedule) - ----------------------------------------------------------------------------------------------------------------------------------- TOTAL CURRENT ASSETS $ 227,231 $ 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 $ 301,897 $ 345,187 - ----------------------------------------------------------------------------------------------------------------------------------- OTHER ASSETS - ----------------------------------------------------------------------------------------------------------------------------------- Loans to Insiders* - ----------------------------------------------------------------------------------------------------------------------------------- Other Assets (attach schedule) 49,020 60,215 - ----------------------------------------------------------------------------------------------------------------------------------- TOTAL OTHER ASSETS $ 49,020 $ 60,215 - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- TOTAL ASSETS $ 578,148 $ 588,450 - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- LIABILITIES AND OWNER EQUITY BOOK VALUE AT END OF CURRENT BOOK VALUE ON PETITION DATE REPORTING MONTH - ----------------------------------------------------------------------------------------------------------------------------------- LIABILITIES NOT SUBJECT TO COMPROMISE (POST-PETITION) - ----------------------------------------------------------------------------------------------------------------------------------- Accounts Payable (139,802) (162,593) - ----------------------------------------------------------------------------------------------------------------------------------- Taxes Payable (refer to FORM MOR-4) - ----------------------------------------------------------------------------------------------------------------------------------- Wages Payable - ----------------------------------------------------------------------------------------------------------------------------------- Notes Payable (1,000) (263,060) - ----------------------------------------------------------------------------------------------------------------------------------- Rent / Leases - Building/Equipment (137,645) (160,737) - ----------------------------------------------------------------------------------------------------------------------------------- Secured Debt / Adequate Protection Payments - ----------------------------------------------------------------------------------------------------------------------------------- Professional Fees - ----------------------------------------------------------------------------------------------------------------------------------- Amounts Due to Insiders* - ----------------------------------------------------------------------------------------------------------------------------------- Other Postpetition Liabilities (attach schedule) (136,954) (210,800) - ----------------------------------------------------------------------------------------------------------------------------------- TOTAL POSTPETITION LIABILITIES $ (415,401) $ (797,190) - ----------------------------------------------------------------------------------------------------------------------------------- LIABILITIES SUBJECT TO COMPROMISE (PRE-PETITION) - ----------------------------------------------------------------------------------------------------------------------------------- Secured Debt (263,060) - ----------------------------------------------------------------------------------------------------------------------------------- Priority Debt - ----------------------------------------------------------------------------------------------------------------------------------- Unsecured Debt (168,844) - ----------------------------------------------------------------------------------------------------------------------------------- TOTAL PRE-PETITION LIABILITIES $ (431,904) $ - - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- TOTAL LIABILITIES $ (847,305) $ (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 - ----------------------------------------------------------------------------------------------------------------------------------- Retained Earnings - Post-Petition 60,417 - ----------------------------------------------------------------------------------------------------------------------------------- Adjustments to Owner Equity (attach schedule) - ----------------------------------------------------------------------------------------------------------------------------------- Postpetition Contributions (Distributions) (Draws) (attach schedule) - ----------------------------------------------------------------------------------------------------------------------------------- NET OWNER EQUITY $ 269,157 $ 208,740 - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- TOTAL LIABILITIES AND OWNERS' EQUITY $ (578,148) $ (588,450) - ----------------------------------------------------------------------------------------------------------------------------------- FORM MOR-3 * "Insider is defined in 11 U.S.C. Section 101(31). (9/99) 8 The Grand Union Company Case No. 00-39613 (NW) - ----------------------- ------------- Debtor Reporting Period February 03, 2001 ----------------- BALANCE SHEET - ----------------------------------------------------------------------------------------------------------------------------------- ASSETS BOOK VALUE AT END OF CURRENT BOOK VALUE ON PETITION DATE REPORTING MONTH - ----------------------------------------------------------------------------------------------------------------------------------- FEBRUARY 3, 2001 OCTOBER 2, 2000 - ----------------------------------------------------------------------------------------------------------------------------------- Other Current Assets - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- Other Assets - ----------------------------------------------------------------------------------------------------------------------------------- Beneficial leases, net 40,918 48,026 - ----------------------------------------------------------------------------------------------------------------------------------- Other assets 8,102 12,189 - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- LIABILITIES AND OWNER EQUITY BOOK VALUE AT END OF CURRENT BOOK VALUE ON PETITION DATE REPORTING MONTH - ----------------------------------------------------------------------------------------------------------------------------------- Other Postpetition Liabilities - ----------------------------------------------------------------------------------------------------------------------------------- Adverse leases, net (58,446) (61,079) - ----------------------------------------------------------------------------------------------------------------------------------- Other noncurrent liabilities (78,508) (149,721) - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- Adjustments to Owner Equity - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- Postpetition Contributions (Distributions) (Draws) - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------------------- - -----------------------------------------------------------------------------------------------------------------------------------
9 STATEMENT OF OPERATIONS (INCOME STATEMENT) The Statement of Operations is to be prepared on an accrual basis. The accrual basis of accounting recognizes revenue when it is realized and expenses when they are incurred, regardless of when cash is actually received or paid.
- ------------------------------------------------------------------------------------------------------------------------- REVENUES 28 days ended 124 days ended February 3, 2001 February 3, 2001 - ------------------------------------------------------------------------------------------------------------------------- Gross Revenues 128,313 623,307 - ------------------------------------------------------------------------------------------------------------------------- Less: Returns and Allowances - - - ------------------------------------------------------------------------------------------------------------------------- Net Revenue 128,313 623,307 - ------------------------------------------------------------------------------------------------------------------------- COST OF GOODS SOLD - ------------------------------------------------------------------------------------------------------------------------- Beginning Inventory 105,096 116,875 - ------------------------------------------------------------------------------------------------------------------------- Add: Purchases 92,860 444,695 - ------------------------------------------------------------------------------------------------------------------------- Add: Cost of Labor - - - ------------------------------------------------------------------------------------------------------------------------- Add: Other Costs (attach schedule) 1,585 7,298 - ------------------------------------------------------------------------------------------------------------------------- Less: Ending Inventory 104,676 104,676 - ------------------------------------------------------------------------------------------------------------------------- Cost of Goods Sold 94,865 464,193 - ------------------------------------------------------------------------------------------------------------------------- Gross Profit 33,448 159,114 - ------------------------------------------------------------------------------------------------------------------------- OPERATING EXPENSES - ------------------------------------------------------------------------------------------------------------------------- Advertising 1,501 6,642 - ------------------------------------------------------------------------------------------------------------------------- Auto and Truck Expense - - - ------------------------------------------------------------------------------------------------------------------------- Bad Debts - - - ------------------------------------------------------------------------------------------------------------------------- Contributions - - - ------------------------------------------------------------------------------------------------------------------------- Employee Benefits Programs 2,778 12,279 - ------------------------------------------------------------------------------------------------------------------------- Insider Compensation - - - ------------------------------------------------------------------------------------------------------------------------- Insurance 1,594 7,161 - ------------------------------------------------------------------------------------------------------------------------- Management Fees/Bonuses - 44 - ------------------------------------------------------------------------------------------------------------------------- Office Expense - - - ------------------------------------------------------------------------------------------------------------------------- Pension & Profit-Sharing Plans 197 872 - ------------------------------------------------------------------------------------------------------------------------- Repairs and Maintenance 2,168 8,301 - ------------------------------------------------------------------------------------------------------------------------- Rent and Lease Expense 3,696 16,753 - ------------------------------------------------------------------------------------------------------------------------- Salaries/Commissions/Fees 16,140 76,856 - ------------------------------------------------------------------------------------------------------------------------- Supplies 886 4,232 - ------------------------------------------------------------------------------------------------------------------------- Taxes-Payroll 1,597 6,650 - ------------------------------------------------------------------------------------------------------------------------- Taxes-Real Estate 836 3,854 - ------------------------------------------------------------------------------------------------------------------------- Taxes-Other - - - ------------------------------------------------------------------------------------------------------------------------- Travel and Entertainment - - - ------------------------------------------------------------------------------------------------------------------------- Utilities 3,368 14,616 - ------------------------------------------------------------------------------------------------------------------------- Other (attach schedule) (17,220) (1,872) - ------------------------------------------------------------------------------------------------------------------------- Total Operating Expenses Before Depreciation 17,540 156,390 - ------------------------------------------------------------------------------------------------------------------------- Depreciation/Depletion/Amortization 9,372 39,918 - ------------------------------------------------------------------------------------------------------------------------- Net Profit (Loss) Before Other Income & Expenses 6,536 (37,194) - ------------------------------------------------------------------------------------------------------------------------- OTHER INCOME AND EXPENSES - ------------------------------------------------------------------------------------------------------------------------- Other Income (attach schedule) - - - ------------------------------------------------------------------------------------------------------------------------- Interest Expense 4,347 19,534 - ------------------------------------------------------------------------------------------------------------------------- Other Expense (attach schedule) (1,644) (2,911) - ------------------------------------------------------------------------------------------------------------------------- Net Profit (Loss) Before Reorganization Items 3,832 (53,818) - ------------------------------------------------------------------------------------------------------------------------- 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) 1,299 6,600 - ------------------------------------------------------------------------------------------------------------------------- Total Reorganization Expenses - - - ------------------------------------------------------------------------------------------------------------------------- Income Taxes - - - ------------------------------------------------------------------------------------------------------------------------- Net Profit (Loss) 2,533 (60,417) - -------------------------------------------------------------------------------------------------------------------------
10 The Grand Union Company Case No. 00-39613 (NW) - ----------------------- ------------- Debtor Reporting Period February 03, 2001 ----------------- STATEMENT OF OPERATIONS - CONTINUATION SHEET - ------------------------------------------------------------------------------- OTHER OPERATING EXPENSES 28 days ended 124 days ended February 3, 2001 February 3, 2001 - ------------------------------------------------------------------------------- CHARGE CARD EXPENSE 534 2,328 OTHER OPERATING EXPENSES LIGHT REPAIRS & LAMP REPLACE (117) 141 STORE DISBURSEMENTS 87 367 PENALTIES & FINES 16 73 BAD CHECKS 149 483 PREMISE SECURITY 201 635 LAUNDRY 52 217 CASH (OVER) SHORT 48 251 REFRIGERATION & WATER DAMAGE 4 11 EQUIPMENT RENTAL 35 118 CASUALTY LOSS 1 83 SIGNS - 1 EXTERMINATING 9 30 SHOPPING CARTS 10 35 MISCELLANEOUS INCOME (224) (977) BANK SERVICE CHG/ARMORED CAR 133 729 CUSTOMER SERVICE CHARGES - (2) OTHER 79 574 -- --- TOTAL OTHER OPERATING EXPENSE 483 2,769 --- ----- CAPITAL PROJECT EXPENSE - - CORPORATE ADMIN EXPENSE 2,600 11,746 GRAND PROPERTIES (20,942) (20,521) GRAND VIDEO - - CORPORATE COMMISSARY - - PRE-OPEN EXPENSE - - CLOSED STORE EXPENSE 106 1,805 TECHNOLOGY INITIATIVES - - MANAGEMENT FEE - - SUNDRY - - - - TOTAL OTHER OPERATING EXPENSES (17,220) (1,872) ======== ======= 11 The Grand Union Company Case No. 00-39613 (NW) - ----------------------- ------------- Debtor Reporting Period February 03, 2001 ----------------- STATEMENT OF OPERATIONS - CONTINUATION SHEET - ------------------------------------------------------------------------------- OTHER COSTS OF GOODS SOLD 28 days ended 124 days ended February 3, 2001 February 3, 2001 - ------------------------------------------------------------------------------- TRUCKING 525 3,274 WAREHOUSING 3,647 14,693 S & G SERVICES 269 1,241 --- ----- TOTAL DISTRIBUTION 4,441 19,208 ----- ------ ADVERTISING & PROMO ALLOWANCE (3,707) (18,924) SPECIALTY FOODS (71) (283) CASH DISCOUNTS (76) (783) STOCK GAIN OR (LOSS) - GROCERY 106 2,000 - LIQUOR - (4) - GEN MDSE 313 1,607 - PHARMACY - (84) - SHRINK PROJ 26 113 -- --- TOTAL STOCK GAIN OR (LOSS) 445 3,631 --- ----- SPECIAL PROMOTIONS 271 4,902 --- ----- TRADING-MERCHANDISE (143) (1,022) -MEAT 142 (1,002) -PRODUCE (161) (972) -SERVICE (18) (82) LABEL EXP/ALLOW - - VENDOR COUPONS 44 (120) STATISTICAL GROSS ADJUSTMENT 38 187 WHSE INV GAIN(LOSS)-GROCERY 50 221 PHARMACY THIRD PARTY REC ADJ 28 108 FREQUENT SHOPPER EXPENSE 207 1,565 CLIPLESS COUPON EXPENSE 94 589 ADVERTISING PROGRAMS - - - - OTHER ADJ. TO GROSS MARGIN 282 (529) --- ----- LIFO PROVISION - 75 - -- TOTAL OTHER COSTS OF GOODS SOLD 1,585 7,298 ===== ===== 12 The Grand Union Company Case No. 00-39613 (NW) - ----------------------- ------------- Debtor Reporting Period February 03, 2001 ----------------- STATEMENT OF OPERATIONS - CONTINUATION SHEET - ------------------------------------------------------------------------------- OTHER INCOME AND EXPENSES 28 days ended 124 days ended February 3, 2001 February 3, 2001 - ------------------------------------------------------------------------------- LEASED/OWNED NORMALIZATION ITEMS (2,094) (6,698) BANK SERVICE CHARGES 12 74 GAIN/(LOSS) ON DISPOSAL OF FIXED ASSETS - 123 SALES TAX COLLECTION COMMISSIONS (2) (7) SALES USE TAX 7 33 EXECUTIVE INCENTIVE PLAN 347 1,537 ADMINISTRATIVE PENSION 19 84 BOARD OF DIRECTORS FEES 159 550 BOARD OF DIRECTORS EXPENSES 34 144 OTHER (126) 1,249 ----- ----- TOTAL OTHER INCOME AND EXPENSES (1,644) (2,911) ======= ======= 13 The Grand Union Company Case No. 00-39613 - ----------------------- -------- Debtor Reporting Period: February 03, 2001 ----------------- STATUS OF POSTPETITION TAXES The beginning tax liability should be the ending liability from the prior month or, if this is the first report, the amount should be zero. Attached photocopies of IRS Form 6123 or payment receipt to verify payment or deposit of federal payroll taxes. Attached photocopies of any tax returns filed during the reporting period.
- ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------ Beginning Amount Amount Date Paid Check No. Ending Tax Withheld or Paid Or EFT Tax Liability Accrued Liability ======================================== ============ ============ ============= ============ ============ ============ FEDERAL - ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------ Withholding 5,203,474 (5,203,474) VAR EFT 0 - ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------ FICA-Employee 0 0 0 0 - ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------ FICA-Employer 0 0 0 0 - ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------ Unemployment 121,521 136,264 (49,218) 208,567 - ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------ Income 0 0 0 0 - ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------ Other: NJ Litter 0 0 0 0 - ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------ Total Federal Taxes 121,521 5,339,738 (5,252,692) 208,567 - ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------ STATE AND LOCAL - ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------ Withholding 377,433 524,120 (607,650) VAR VAR 293,9030 - ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------ Sales 2,001,501 1,026,445 (1,215,213) VAR VAR 1,812,7330 - ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------ Excise 0 0 0 0 - ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------ Unemployment 344,637 168,138 (157,010) VAR VAR 355,765 - ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------ Real Property 0 0 0 0 - ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------ Personal Property 69,445 0 (49,493) VAR VAR 19,952 - ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------ Other: NJ LITTER 31,721 8,146 0 39,867 - ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------ Total State and Local 2,824,737 1,726,849 (2,029,366) 2,522,220 - ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------ TOTAL TAXES 2,946,258 7,066,587 (7,282,058) 2,730,787 - ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------ SUMMARY OF UNPAID POSTPETITION DEBTS Attach aged listing of accounts payable. - ---------------------------------------- ------------------------------------------------------------------------------ NUMBER OF DAYS PAST DUE ======================================== ============================================================================== Current 0-30 31-60 61-90 Over 90 Total - ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------ Accounts Payable 11,200,000 2,450,000 1,450,000 0 15,100,000 - ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------ Wages Payable 3,219,000 0 0 0 3,219,000 - ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------ Taxes Payable 2,731,000 0 0 0 2,731,000 - ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------ Rent/Leases-Building 0 0 0 0 0 - ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------ Rent/Leases-Equipment 0 0 0 0 0 - ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------ Secured Debt/Adequate Protection 0 0 0 0 0 Payments - ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------ Professional Fees 360,000 0 0 0 360,000 - ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------ Amounts Due to Insiders* 0 0 0 0 0 - ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------ Other: 0 0 0 0 0 - ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------ Other: 0 0 0 0 0 - ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------ Total Postpetition Debts 17,510,000 2,450,000 1,450,000 0 21,410,000 - ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------ EXPLAIN HOW AND WHEN THE DEBTOR INTENDS TO PAY ANY PAST-DUE POSTPETITION DEBTS. - ----------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------- - ----------------------------------------------------------------------------------------------------------------------- - -----------------------------------------------------------------------------------------------------------------------
*"Insider" is defined in 11 U.S.C. Section 101 (31) FORM MOR-4 (9/99) The Grand Union Company Case No. 00-39613 (NW) - ----------------------- -------------- Debtor Reporting Period: February 3, 2001 ---------------- ACCOUNTS RECEIVABLE RECONCILIATION AND AGING
- ------------------------------------------------------------------------ --------------------------------- Accounts Receivable Reconciliation Amount - ------------------------------------------------------------------------ --------------------------------- Total Accounts Receivable at the beginning of the reporting period 26,762,713 - ------------------------------------------------------------------------ --------------------------------- + Amounts billed during the period 3,719,910 - ------------------------------------------------------------------------ --------------------------------- - - Amounts collected during the period (1,865,163) - ------------------------------------------------------------------------ --------------------------------- Total Accounts Receivable at the end of the reporting period 28,617,460 - ------------------------------------------------------------------------ --------------------------------- - ------------------------------------------------------------------------ --------------------------------- - ------------------------------------------------------------------------ --------------------------------- Accounts Receivable Aging Amount - ------------------------------------------------------------------------ --------------------------------- 0-30 days old 23,226,664 - ------------------------------------------------------------------------ --------------------------------- 31-60 days old (29,062) - ------------------------------------------------------------------------ --------------------------------- 61-90 days old 2,745,900 - ------------------------------------------------------------------------ --------------------------------- 91+ days old 6,584,970 - ------------------------------------------------------------------------ --------------------------------- Total Accounts Receivable 32,528,472 - ------------------------------------------------------------------------ --------------------------------- Amount considered uncollectible (Bad Debt) (3,911,012) - ------------------------------------------------------------------------ --------------------------------- Accounts Receivable (Net) 28,617,460 - ------------------------------------------------------------------------ --------------------------------- - ------------------------------------------------------------------------ --------------------------------- 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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