-----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, L3UnJUjeAm0BPz0aKoOrhCqhhD9JzV0YpWry6BaymOcCQ7NUU04mIDrmJryUpYx+ rYZeR/SaFn8FYmnIVBhjPg== 0001144204-10-009755.txt : 20100224 0001144204-10-009755.hdr.sgml : 20100224 20100224172956 ACCESSION NUMBER: 0001144204-10-009755 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20100224 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20100224 DATE AS OF CHANGE: 20100224 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PENN TRAFFIC CO CENTRAL INDEX KEY: 0000077155 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-GROCERY STORES [5411] IRS NUMBER: 250716800 STATE OF INCORPORATION: DE FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-08858 FILM NUMBER: 10630745 BUSINESS ADDRESS: STREET 1: 1200 STATE FAIR BLVD CITY: SYRACUSE STATE: NY ZIP: 13221-4737 BUSINESS PHONE: (315) 453-7284 MAIL ADDRESS: STREET 1: 1200 STATE FAIR BLVD CITY: SYRACUSE STATE: NY ZIP: 13221-4737 8-K 1 v175457_8k.htm
UNITED STATES
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): February 24, 2010
 
THE PENN TRAFFIC COMPANY
(Exact Name of Registrant as Specified in its Charter)
 
Delaware
0-8858
25-0716800
(State or Other Jurisdiction
of Incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
 
1200 State Fair Boulevard
Syracuse, New York 13221-4737
(Address of Principal Executive Offices) (Zip Code)

(315) 453-7284
(Registrant’s telephone number, including area code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):
 
¨     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
¨     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
¨     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR240.14d-2(b))
 
¨     Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 
 
 

Item 8.01.  Other Events
 
As previously disclosed, on November 18, 2009, The Penn Traffic Company (the “Company”), and each of its direct and indirect subsidiaries, including Penny Curtiss Baking Company, Inc. (“PCBC”) and Big M Supermarkets, Inc. (together with the Company and PCBC, the “Debtors”) filed voluntary petitions (the “Chapter 11 Petitions”) for relief under Chapter 11 of the United States Bankruptcy Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”).  The Debtors are continuing to manage their properties and operate their businesses as “debtors-in-possession” under the jurisdiction of the Bankruptcy Court and no trustee or examiner has been appointed in the Company’s case.
 
On February 24, 2010, the Debtors filed their monthly operating report for the month ended January 30, 2010 (the “Monthly Operating Report”) with the Bankruptcy Court. The Monthly Operating Report is attached hereto as Exhibit 99.1 and is incorporated herein by reference. This current report (including the exhibit hereto) shall not be deemed an admission as to the materiality of any information required to be disclosed solely by Regulation FD.

Additional information regarding the Debtors' bankruptcy cases, including access to court documents and other general information, are available to the public at http://www.donlinrecano.com/cases/caseinfo/penn3.  Information contained on, or that can be accessed through, this website is not part of this report.

Limitation on Incorporation by Reference

In accordance with General Instruction B.2 of Form 8-K, the information with respect to the Debtors in this Item 8.01 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

Cautionary Statement Regarding Financial and Operating Data

The Company cautions investors and potential investors not to place undue reliance upon the information contained in the Monthly Operating Report, which was not prepared for the purpose of providing the basis for an investment decision relating to any of the securities of the Company.

The Monthly Operating Report contains unaudited financial information which has not been reviewed by independent accountants and is in a format prescribed by applicable bankruptcy laws.  The financial information related to the Debtors included in the Monthly Operating Report is limited in scope, and has been prepared solely for the purpose of complying with the monthly reporting requirements of the Office of the United States Trustee, Region 3, and the Bankruptcy Court.  As a result, the financial information contained in the Monthly Operating Report is not presented in accordance with generally accepted accounting principles (“GAAP”) or Securities and Exchange Commission (“SEC”) regulations applicable to financial statements contained in periodic reports filed with the SEC.  Preparation of the Debtors’ financial statements in accordance with GAAP could result in material reconciliations and adjustments to certain financial information presented in the Monthly Operating Report.
 
There can be no assurance that, from the perspective of an investor or potential investor in the Company’s securities, the Monthly Operating Report is complete.  The Monthly Operating Report contains information for periods that are shorter or otherwise different from those required in the Company’s reports pursuant to the Exchange Act, and such information might not be indicative of the Company’s financial condition or operating results for the period that would be reflected in the Company’s financial statements or in its reports pursuant to the Exchange Act.  Results set forth in the Monthly Operating Report should not be viewed as indicative of future results.

 
 
 

Cautionary Statement Regarding Forward-Looking Statements

This current report on Form 8-K and exhibit hereto contain forward-looking statements. Actual results may differ materially from the results suggested by these forward-looking statements, for a number of reasons, including, but not limited to (i) the impact of the Debtors’ bankruptcy filings, (ii) illiquidity of the Company’s securities and the volatility of the Company’s share prices, (iii) the impact of the actions and decisions of the Company’s creditors and other third parties with interests in the Bankruptcy Petitions, (iv) asset impairments, asset dispositions, restructuring activities, contract terminations and rejections and claims assessments that may significantly impact the Company’s consolidated financial statements and (v) any inability on the part of the Company to retain and motivate management and key employees.  Readers are referred to the Company’s Quarterly Report on Form 10-Q filed on December 21, 2009, and Annual Report on Form 10-K, filed on April 21, 2009, and the other documents filed by the Company with the Securities and Exchange Commission, which further identify the important risk factors that could cause actual results to differ materially from the forward-looking statements in this current report on Form 8-K and the exhibit hereto.  The Company disclaims any obligations to update any forward-looking statements.

Item 9.01 Financial Statements and Exhibits.

Exhibit No.
  
Exhibit
     
99.1
  
Monthly Operating Report for the month ended January 30, 2010, filed with the United States Bankruptcy Court for the District of Delaware.

 
 
 

SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
THE PENN TRAFFIC COMPANY
(Registrant)
   
 
By: 
/s/ Daniel J. Mahoney
   
Name: Daniel J. Mahoney
   
Title:   SVP, General Counsel

Date: February 24, 2010

 
 
 
EX-99.1 2 v175457_ex99-1.htm
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
     
In re The Penn Traffic Company, et al
  
Case No.   09-14078 (PJW)
                                   Debtors
  
Reporting Period:  January 30, 2010
     
MONTHLY OPERATING REPORT

       
Document
  
Explanation
  
Affidavit/Supplement
REQUIRED DOCUMENTS
  
Form No.
  
Attached
  
Attached
  
Attached
Schedule of Cash Receipts and Disbursements
  
MOR-1
  
X
        
Bank Reconciliation (or copies of debtor's bank reconciliations)
  
MOR-1a
          
X
Schedule of Professional Fees Paid
  
MOR-1b
  
X
        
Copies of bank statements
                
Cash disbursements journals
                
Statement of Operations
  
MOR-2
  
X
        
Balance Sheet
  
MOR-3
  
X
        
Status of Postpetition Taxes
  
MOR-4
  
X
        
Copies of IRS Form 6123 or payment receipt
                
Copies of tax returns filed during reporting period
                
Summary of Unpaid Postpetition Debts
  
MOR-4b
  
X
        
Listing of aged accounts payable
  
MOR-4c
  
X
        
Accounts Receivable Reconciliation and Aging
  
MOR-5
  
X
        
Debtor Questionnaire
  
MOR-5
  
X
  
  
  
  

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
     
/s/ Ronald F. Stengel
  
23 Feburary 2010
Signature of Authorized Individual*
  
Date
     
Ronald F. Stengel
  
Chief Restructuring Officer
Printed Name of Authorized Individual
  
Title of Authorized Individual

*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.

 
 
 

UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE

In re
The Penn Traffic Company, et al
  
Case No.   09-14078 (PJW)
 
                  Debtors
  
Period: January 30, 2010
       
MONTHLY OPERATING REPORT
       
Summary of Cases
    
 
Debtor
  
 Case Number
       
 
The Penn Traffic Company, Debtor
  
09-14078 (PJW)
 
Sunrise Properties, Debtor
  
09-14079 (PJW)
 
Pennway Express, Inc., Debtor
  
09-14080 (PJW)
(1)
Penny Curtis Baking Company, Inc., Debtor
  
09-14082 (PJW)
(1)
Big M Supermarkets, Inc., Debtor
  
09-14083 (PJW)
(1)
Commander Foods, Inc., Debtor
  
09-14084 (PJW)
(1)
P & C Food Markets, Inc. of Vermont, Debtor
  
09-14085 (PJW)
(1)
P.T. Development, LLC, Debtor
  
09-14086 (PJW)
 
P.T. Fayetteville/Utica, LLC, Debtor
  
09-14087 (PJW)
       
(1)
No financial data was maintained for these entities because such entities were not engaged in active operations during the relevant time period of this report.
 
 
 
 

In re: The Penn Traffic Company, et al
                                
                                      Debtors
                                
12/27 - 1/30 Total Cash Flow
                                
($ in thousands)
  
W/E
    
W/E
    
W/E
    
W/E
    
W/E
    
12/27-1/30
    
Cumulative
  
   
1-2-10
    
1-9-10
    
1-16-10
    
1-23-10
    
1-30-10
    
Total
    
to Date
  
                                                     
Cash Receipts:
                                                    
                                                     
Sales Receipts
   $ 13,219     $ 12,648     $ 11,933     $ 11,722     $ 7,880     $ 57,402     $ 129,929  
Other Receipts (A/R Coll./Dep.)
     2,014       3,686       820       468       689       7,677       15,254  
Miscellaneous Retail Receipts
     946       1,461       1,633       1,307       5,146       10,492       20,299  
Store Closure/Sale Proceeds
     -       -       12,500       -       72,500       85,000       85,000  
Total Receipts
     16,179       17,794       26,886       13,497       86,215       160,572       250,481  
                                                         
Cash Disbursements:
                                                        
                                                         
Trade Payments:
                                                        
Product
     7,836       7,941       10,998       6,136       6,049       38,960       88,638  
Non-Product
     707       840       526       545       710       3,327       6,312  
Total Trade Payments
     8,542       8,782       11,524       6,681       6,759       42,288       94,950  
                                                         
Operating Expenses:
                                                        
Store Payroll, Taxes & Benefits
     2,262       2,763       2,490       2,213       2,204       11,931       25,830  
Corp. Payroll, Taxes & Benefits
     466       460       456       449       473       2,303       5,185  
Severance/WARN and Retention
     -       -       -       -       -       -       -  
Union Benefits
     -       873       1,210       -       -       2,083       4,153  
401K Plans
     -       -       -       -       -       -       -  
Utilities
     263       526       516       188       236       1,729       1,849  
Rent Cam & RE Taxes
     -       1,538       190       -       -       1,728       3,433  
Insurance Premiums & Claims
     -       -       -       -       -       -       921  
Capital Expenditures
     210       268       127       259       111       975       995  
Sales Tax Payable
     146       15       4       -       -       165       1,305  
Store Currency & Coin Orders
     611       -       -       125       665       1,401       6,394  
Other (WUnion/Util. Rmb/Bank fees)
     296       318       304       317       263       1,499       11,084  
Liquidator Expense Reimbursement
     1,737       1,637       1,082       953       976       6,385       6,385  
Expense Reimbursement
     -       -       -       -       -       -       -  
Miscellaneous Expense
     -       -       -       -       223       223       273  
Total Operating Expenses
     5,991       8,398       6,379       4,504       5,150       30,422       67,809  
                                                         
Financing Expenses:
                                                        
Term/Standby LC Interest
     -       234       -       -       183       417       580  
Suppl. RE Facility Interest
     -       146       -       -       95       241       373  
DIP & Revolver Interest & Fees
     -       -       -       -       700       700       950  
Debt Paydown / L/C Collat.
     -       -       -       -       56,298       56,298       56,298  
Total Non-Operating Expenses
     -       380       -       -       57,276       57,657       58,201  
                                                         
Net Operating Cash Flow
     1,646       234       8,983       2,312       17,030       30,205       29,521  
                                                         
Bankruptcy Expenses:
                                                        
Deposits/Cash-in-Advance
     485       -       -       -       -       485       3,802  
Professional Fees
     -       30       158       5       897       1,090       1,516  
UST Fees
     -       -       -       -       -       -       -  
Claims Agent
     -       -       21       124       4       149       271  
Cure Costs
     -       -       -       -       -       -       -  
Funds Transferred to/(from) Cure Cost
     -       -       -       -       3,943       3,943       3,943  
Funds Transferred to/(from) Closing Issues
     -       -       -       -       12,500       12,500       12,500  
Funds Transferred to/(from) Prof Carve Out
     -       -       -       -       3,000       3,000       3,000  
Funds Transferred to/(from) Escrow
     -       -       12,500       -       (12,500 )     -       -  
Un-reconciled Cash Flow
     -       -       -       -       -       -       -  
Total Bankruptcy Expenses
     485       30       12,679       128       7,844       21,166       25,033  
                                                         
Total Disbursements
     15,017       17,590       30,582       11,314       77,029       151,532       245,992  
                                                         
Net Cash Flows
   $ 1,161     $ 205     $ (3,696 )   $ 2,184     $ 9,186     $ 9,039     $ 4,489  
 
 
 
 

In re  The Penn Traffic Company, et al    
Case No. 09-14078 (PJW)
                                                   Debtor
Reporting Period: January 30, 2010

SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID

       
Amount
      
Check
  
Amount Paid
    
Year-To-Date
  
Payee
  
Period Covered
  
Approved
  
Payor
  
Number
  
Date
  
Fees
    
Expenses
    
Fees
    
Expenses
  
                                             
Donlin Recano
  
12/22/2009
     4,500.00  
Penn Traffic
     28274814  
12/24/09
     -       4,500.00       -       4,500.00  
Donlin Recano
  
1/6-1/8/2010
     20,500.00  
Penn Traffic
     28481927  
1/12/10
     -       20,500.00       -       20,500.00  
Donlin Recano
  
12/1/09-12/31/09
     123,854.43  
Penn Traffic
     28602926  
1/21/2010
     105,964.83       17,889.60       105,964.83       17,889.60  
Donlin Recano
  
11/1/09-11/30/09
     122,573.75  
Penn Traffic
     28195676  
1/21/2010
     91,343.67       31,230.08       91,343.67       31,230.08  
Donlin Recano
  
1/24/2010
     4,150.00  
Penn Traffic
     0000467A  
1/25/2010
             4,150.00               4,150.00  
                                                         
Conway, Del Genio, Greis
  
1/3/10 - 2/2/10
     155,760.20  
Penn Traffic
     262967  
1/7/2010
     150,000.00       5,760.20       150,000.00       5,760.20  
                                                         
Total
         431,338.38                   347,308.50       84,029.88       347,308.50       84,029.88  
 
 
 
 

In re The Penn Traffic Company, et al
  
Case No.   09-14078 (PJW)
                                        Debtors
  
Reporting Period: January 30, 2010

MOR 2
Consolidated Statement of Operations
(In thousands)
Unaudited

   
Penn
    
Fayetteville/
    
Pennway
    
Penny
    
Sunrise
    
Penn Traffic
    
Consolidated
  
   
Traffic
    
Utica
    
Express
    
Curtiss
    
Properties
    
Eliminations
    
Penn Traffic
  
                                           
Revenues
   $ 58,066     $ 1,873     $ 300           $ 8           $ 60,247  
                                                     
Cost and Operating Expenses
                                                    
Cost of sales
     41,300       1,287                                   42,587  
Selling and administrative expenses
     22,607       545       328             2       -       23,482  
Asset impairment charge
     -       -       -       -       -       -       -  
Goodwill impairment charge
     -       -       -       -       -       -       -  
                                                         
Operating Income
     (5,841 )     41       (28 )     -       6       -       (5,822 )
Interest expense
     573       -       -       -       -       -       573  
Reorganization expense
     4,057       -       -       -       -       -       4,057  
                                                         
(Loss) Income from continuing operations before taxes
     (10,471 )     41       (28 )     -       6       -       (10,452 )
Provision for income taxes
     -       -       -       -       -       -       -  
                                                         
(Loss) Income before loss from discontinued operations, net of tax
     (10,471 )     41       (28 )     -       6       -       (10,452 )
                                                         
(Loss) income from discontinued operations, net of tax
     51       -       -       -               -       51  
                                                         
(Loss) Income before extraordinary item
     (10,522 )     41       (28 )     -       6       -       (10,503 )
                                                         
Extraordinary item
     -       -       -       -       -       -       -  
                                                         
Net (Loss) Income
   $ (10,522 )   $ 41     $ (28 )   $ -     $ 6     $ -     $ (10,503 )

(1)   The following legal entities: Big M Supermarkets, Inc., Commander Foods,Inc., P&C Food Markets, Inc of Vermont, and  PT-Development, LLC, are not reported on the above schedule due to the fact that there was no or nominal activity for the reporting period of December 27, 2009 through January 30, 2010 for these entities.
 
 
 
 
In re: The Penn Traffic Company, et al
  
Csae No.  09-14078 (PJW)
Debtors
  
Reporting Period: 'January 30, 2010

MOR 3
Consolidated Balance Sheet
As of 'January 30, 2010
Unaudited
(In Thousands)

   
Penn
    
Fayetteville/
          
Pennway
    
Penny
    
Sunrise
    
Penn Traffic
    
Consolidated
  
   
Traffic
    
Utica
    
Big M
    
Express
    
Curtiss
    
Properties
    
Eliminations
    
Penn Traffic
  
ASSETS
                                                
                                                 
Current Assets:
                                                
Cash and short-term investments
     40,516       26       -       -       -       -       -       40,542  
Accounts and notes receivables
     23,789       -       -       487       -       -       -       24,276  
Inventories
     -       -       -       -       -       -       -       -  
Prepaid expenses and other current assets
     3,790       -       -       -       -       -       -       3,790  
Assets Held for Sale
     -       -       -       -       -       -       -       -  
      68,095       26       -       487       -       -       -       68,608  
                                                                 
Noncurrent Assets:
                                                                
Capital leases
     -       -       -       -       -       -       -       -  
Property, plant and equipment
     -       -       -       -       -       -       -       -  
Goodwill
     -       -       -       -       -       -       -       -  
Intangible assets
     -       -       -       -       -       -       -       -  
Other assets
     55,466       -       -       -       -       -       -       55,466  
      123,561       26       -       487       -       -       -       124,074  
                                                                 
LIABILITIES AND STOCKHOLDERS' EQUITY
                                                                
                                                                 
Current Liabilities:
                                                                
Current portion of obligations under capital leases
     -       -       -       -       -       -       -       -  
Current maturities under long-term debt
     -       -       -       -       -       -       -       -  
Trade account and drafts payables
     3,015       3       (1 )     10       -       -       -       3,027  
Other current liabilities
     17,571       49       -       19       2       -       -       17,641  
Accrued interest expense
     -       -       -       -       -       -       -       -  
Deferred income taxes
     -       -       -       -       -       -       -       -  
      20,586       52       (1 )     29       2       -       -       20,668  
                                                                 
Intercompany payables
     (54,910 )     -       54,745       (3,504 )     4,068       (399 )     -       -  
                                                                 
Noncurrent Liabilities:
                                                                
Obligations under capital leases
     -       -       -       -       -       -       -       -  
Long-term debt
     -       -       -       -       -       -       -       -  
Deferred income taxes
     -       -       -       -       -       -       -       -  
Other noncurrent liabilities
     29,107       -       -       -       -       -       -       29,107  
                                                                 
Total Liabilities Subject to Compromise
     76,908       -       -       -       2,609       -       -       79,517  
                                                                 
Stockholders' Equity:
                                                                
Preferred stock
     (20 )     -       -       -       20       -       -       -  
Common Stock
     36       -       20       1       30       1       -       88  
Capital in excess of par
     128,246       -       -       -       -       -       -       128,246  
Stock warrants
     -       -       -       -       -       -       -       -  
Retained Earnings
     (76,122 )     (27 )     (54,764 )     3,962       (6,729 )     398       -       (133,282 )
Accumulated other comprehensive loss
     (270 )     -       -       -       -       -       -       (270 )
Treasury stock, 53,000 shares at cost
     -       -       -       -       -       -       -       -  
Total Stockholders Equity
     51,870       (27 )     (54,744 )     3,963       (6,679 )     399       -       (5,218 )
                                                                 
      123,561       25       (0 )     488       -       -       -       124,074  
 
 
 
 

In re: The Penn Traffic Company, et al
      
Case No.  09-14078 (PJW)
Debtors
      
Reporting Period: January 30, 2010
         
MOR 4
        
Status of Post Petition Taxes
      
       
12/27/2009
Period 12
                        
01/30/10
  
       
Beginning
    
Amount Withheld
    
Amount
  
Date
  
Check No.
    
Ending
  
       
Tax Liability
    
or Accrued
    
Paid
  
Paid
  
or EFT
    
Tax Liability
  
                                     
   
Federal
                                
242300
  
Withholding
     (199,729 )     (1,169,236 )     1,154,466  
01/28/09
     274976200227518        (214,499 )
                             
12/30/09
     274976400116951          
                             
12/30/09
     274976400526086          
                             
01/04/10
     274040400471381          
                             
01/06/10
     274040600582528          
                             
01/06/10
     274040600436372          
                             
01/11/10
     274041000752029          
                             
01/13/10
     274041300383959          
                             
01/13/10
     274041300616182          
                             
01/15/10
     274041500359843          
                             
01/19/10
     274041900947873          
                             
01/21/10
     274042100344519          
                             
01/21/10
     274042100433345          
                             
01/25/10
     274042500416054          
                             
01/27/10
     274042700970596          
                             
01/27/10
     274042700217122          
                                               
242001
  
FICA -Employee
     (179,743 )     (947,350 )     946,019  
01/28/09
     274976200227518        (181,074 )
                             
12/30/09
     274976400116951          
                             
12/30/09
     274976400526086          
                             
01/04/10
     274040400471381          
                             
01/06/10
     274040600582528          
                             
01/06/10
     274040600436372          
                             
01/11/10
     274041000752029          
                             
01/13/10
     274041300383959          
                             
01/13/10
     274041300616182          
                             
01/15/10
     274041500359843          
                             
01/19/10
     274041900947873          
                             
01/21/10
     274042100344519          
                             
01/21/10
     274042100433345          
                             
01/25/10
     274042500416054          
                             
01/27/10
     274042700970596          
                             
01/27/10
     274042700217122          
                                               
242000
  
FICA -Employer
     (371,376 )     (943,473 )     946,519  
01/28/09
     274976200227518        (368,330 )
                             
12/30/09
     274976400116951          
                             
12/30/09
     274976400526086          
                             
01/04/10
     274040400471381          
                             
01/06/10
     274040600582528          
                             
01/06/10
     274040600436372          
                             
01/11/10
     274041000752029          
                             
01/13/10
     274041300383959          
                             
01/13/10
     274041300616182          
                             
01/15/10
     274041500359843          
                             
01/19/10
     274041900947873          
                             
01/21/10
     274042100344519          
                             
01/21/10
     274042100433345          
                             
01/25/10
     274042500416054          
                             
01/27/10
     274042700970596          
                             
01/27/10
     274042700217122          
                                               
   
Totals
     (750,848 )     (3,060,059 )     3,047,004                 (763,903 )
                                               
242100
  
Unemployment
     (18,897 )     (95,134 )     -                 (114,031 )
   
Income
                                          
   
Other
                                          
   
Total Federal Taxes
     (769,745 )     (3,155,193 )     3,047,004                 (877,934 )
                                               
   
State
                                          
242452
  
Withholding- PA
     (37,577 )     (95,293 )     55,847  
01/06/10
     1300026532667        (36,464 )
                          1,815  
01/06/10
     1300026538724          
                          37,622  
01/21/10
     1300026739910          
                          1,122  
01/21/10
     1300026745402          
                                               
                                               
242456
  
Withholding- VT
     (686 )     (3,524 )     686  
12/30/09
     3633853       (591 )
                          804  
01/04/10
     36353195          
                          895  
01/12/10
     123601          
                          635  
01/20/10
     204430          
                          598  
01/26/10
     263901          
                                               
242450
  
Withholding- NY
     (68,950 )     (374,916 )     70,189  
12/30/09
  
NY09WT001781952
        (71,740 )
                          1,885  
12/30/09
  
NY09WT001781958
          
                          69,831  
01/06/10
  
NY10WT001795224
          
                          2,555  
01/06/10
  
NY10WT001795808
          
                          79,077  
01/13/10
  
NY10WT001806478
          
                          71,241  
01/21/10
  
NY10WT001818110
          
                          70,955  
01/27/10
  
NY10WT001829789
          
                          2,536  
01/13/10
  
NY10WT001806485
          
                          1,800  
01/21/10
  
NY10WT001818270
          
                          1,813  
01/27/10
  
NY10WT001829797
          
                          244  
01/05/10
     00262292          
                                               
   
Total State Withholding
     (107,214 )     (473,732 )     472,151                 (108,795 )
                                               
   
Local Taxes
                                          
242552
  
Local -EIT
     (72,280 )     (28,290 )     2,677  
01/08/10
     262453       (22,498 )
                          3,611  
01/08/10
     262442          
                          3,067  
01/08/10
     262672          
                          2,743  
01/11/10
     262593          
                          567  
01/11/10
     567.48          
                          470  
01/11/10
     262608          
                          2,662  
01/11/10
     262618          
                          189  
01/11/10
     262611          
                          2,910  
01/11/10
     262609          
                          110  
01/11/10
     262619          
                          110  
01/11/10
     262599          
                          2,075  
01/11/10
     262594          
                          660  
01/11/10
     262612          
                          542  
01/11/10
     262610          
                          2,264  
01/11/10
     262603          
                          21,985  
01/11/10
     262595          
                          2,293  
01/11/10
     262620          
                          2,406  
01/12/10
     262698          
                          1,993  
01/12/10
     262697          
                          879  
01/12/10
     262701          
                          3,611  
01/12/10
     262700          
                          2,699  
01/12/10
     262669          
                          3,412  
01/12/10
     262670          
                          11,460  
01/12/10
     262671          
                          2,478  
01/13/10
     262746          
                          199  
01/13/10
     262774          
                                               
242900
  
Local -LST
     (12,948 )     (5,289 )     461  
01/15/10
     262875       (4,713 )
                          620  
01/11/10
     262614          
                          275  
01/11/10
     262613          
                          134  
01/11/10
     262616          
                          881  
01/11/10
     262615          
                          654  
01/11/10
     262600          
                          681  
01/11/10
     262601          
                          2,157  
01/11/10
     262602          
                          856  
01/12/10
     262681          
                          573  
01/12/10
     262678          
                          470  
01/12/10
     262688          
                          821  
01/12/10
     262685          
                          550  
01/12/10
     262682          
                          407  
01/12/10
     262693          
                          596  
01/12/10
     262699          
                          589  
01/12/10
     262684          
                          2,798  
01/12/10
     262683          
                                               
   
Total Local Taxes
     (85,228 )     (33,578 )     91,596                 (27,211 )
                                               
   
Sales
                                          
242650 + 242750
  
Sales - NY
     (599,779 )     (661,127 )     572,541  
12/28/09
  
NY09ST000159361
        (3,084 )
                          29,430  
12/28/09
  
NY09ST000159367
          
                          626,362  
01/27/10
  
NY09ST000165398
          
                          29,489  
01/27/10
  
NY09ST000165404
          
                                               
242652 + 242752
  
Sales - PA
     (125,937 )     (129,114 )     125,937  
01/20/10
     1300026626291        (129,114 )
242651
  
Sales - OH
     (745 )     (310 )     867  
01/25/10
     12486714       (188 )
242656 + 242756
  
Sales - VT
     (15,679 )     (8,321 )     7931  
12/28/09
     126141437369        (8,321 )
                          7748  
01/25/10
     1263399966129          
                                               
   
Total Sales Tax
     (742,140 )     (798,872 )     1,400,305                 (140,706 )
                                               
   
Excise
                                          
242250
  
Unemployment - NY
     (33,681 )     (186,610 )     -                 (220,290 )
242252
  
Unemployment - PA
     (39,722 )     (227,137 )     -                 (266,859 )
242256
  
Unemployment - VT
     (2,111 )     (2,610 )     1,803  
01/29/10
     264173       (2,918 )
242257
  
Unemployment - NH
     286       (1,181 )     552  
02/02/10
     263912       (343 )
243100
  
Real property
     (338,852 )     (169,926 )                       (508,778 )
243500
  
Tobacco
     80,679       (24,768 )     31,745  
01/25/10
     16625035       87,656  
   
Total Excise
     (333,400 )     (612,233 )     34,100                 (911,533 )
                                               
   
Other
                                          
242856
  
Meals and Room - VT
     (2,037 )     (1,169 )     1,049  
12/28/09
     1260389391007        (1,169 )
                          988  
01/25/10
     1263304161339          
242857
  
Meals and Room - NH
     (377 )     (703 )     377  
01/19/10
    
1001200039
       (703 )
243200
  
Mercantile Tax
     (16,763 )     2,579       -                 (14,184 )
                                               
   
Total Other
     (19,177 )     707       2,414                 (16,056 )
                                               
   
Total Taxes
     (2,056,904 )     (5,072,902 )     5,047,570                 (2,082,235 )

 
 
 

     
In re: The Penn Traffic Company et al
  
Case No. 09-14978 (PJW)
Debtors
  
Reporting Period: January 30, 2010

MOR 4b
SUMMARY OF UNPAID POSTPETITION DEBTS

         
Number of Days Past Due
                
   
Current
      
0-30
      
31-60
      
61-90
  
Over 90
  
Total
  
Accounts Payable
     3,025,332                                 3,025,332  
Wages Payable
     3,676,890                                 3,676,890  
Taxes Payable
     2,082,235                                 2,082,235  
Rent/Leases-Building
                     612,416                 612,416  
Rent/Leases-Equipment
                                       0  
Secured Debt/Adequate Protection Payments
                                       0  
Professional Fees
     4,867,716                                 4,867,716  
Amounts Due to Insiders
                                       0  
Other Accrued Liabilities
     6,402,441                                 6,402,441  
Other:__________________________
                                       0  
Total Postpetition Debts
     20,054,614       0       612,416       0  
0
     20,667,030  
 
 
 
 

In re 
The Penn Traffic Company
  
Case N09 -14078 (PJW)
 
Debtor
  
Reporting Per January 30, 2010

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING
MOR 5a

Accounts Receivable Reconciliation        
  
Amount
  
Total Accounts Receivable at the beginning of the reporting period    
   $ 22,165,900  
+ Amounts billed during the period (Aged) 
   $ 55,229,855  
- Amounts collected during the period (Aged) 
   $ 51,567,759  
- Amounts collected during the period (Not Aged)
   $ 2,038,879  
+ Amounts billed during the period (Not Aged)              
        
Total Accounts Receivable at the end of the reporting period    
   $ 23,789,117  
         
Accounts Receivable Aging        
  
Amount
  
0 - 30 days old            
   $ 3,574,335  
31 - 90 days old            
   $ 4,223,310  
91 - 180 days old          
   $ 755,010  
181 - 365 days old          
   $ 125,150  
365 + days old            
   $ 605,986  
Subtotal Aged Accounts Receivable        
   $ 9,283,790  
Accounts Receivable Not Aged        
   $ 16,269,380  
Total Accounts Receivable        
   $ 25,553,170  
-Amount considered uncollectible (Bad Debt)      
   $ 1,764,053  
Accounts Receivable (Net)        
   $ 23,789,117  

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.    
  
(1)
X
    
2
Have any funds been disbursed from any account other than a debtor in possession    account this reporting period?        
        
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
    
5
Has any bank account been opened during the reporting period?  If yes, provide   documentation identifying the opened account(s).  If an investment account has been opened provide the required documentation pursuant to the Delaware Local Rule 4001-3.  
  
(2)
X
    

(1)
Substantially all assets were Sold to Tops Markets LLC on 1/29/2010
(2)
Non-Interest bearing escrow accounts have been opened to segregate monies pursuant to the sale of substantially all assets to Tops LLC.

 
 
 
 

In re  
Pennway Express, Inc.  
  
Case N09 -14080 (PJW)
 
Debtor
  
Reporting Per January 30, 2010

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING
MOR 5b

Accounts Receivable Reconciliation
  
Amount
  
Total Accounts Receivable at the beginning of the reporting period
   $ 538,935  
+ Amounts billed during the period
   $ 59,830  
- Amounts collected during the period
   $ 111,380  
Total Accounts Receivable at the end of the reporting period
   $ 487,385  
         
Accounts Receivable Aging
  
Amount
  
0 - 30 days old
   $ 206,054  
31 - 90 days old
   $ 191,592  
91 - 180 days old
   $ 16,507  
181 - 365 days old
   $ 68,970  
365 + days old
   $ 4,261  
Subtotal Aged Accounts Receivable
   $ 487,385  
Accounts Receivable Not Aged
   $ -  
Total Accounts Receivable
   $ 487,385  
-Amount considered uncollectible (Bad Debt)
        
Accounts Receivable (Net)
   $ 487,385  

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.
(1)
X
  
2  
Have any funds been disbursed from any account other than a debtor in possession account this reporting period?
    
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
  
5
Has any bank account been opened during the reporting period?  If yes, provide documentation identifying the opened account(s).  If an investment account has been opened provide the required documentation pursuant to the Delaware Local Rule 4001-3.
    
X

(1)  Substantially all assets were Sold to Tops Markets LLC on 1/29/2010

 
 
 

In re  
P.T. Fayetteville/Utica, LLC
  
Case N09 -14087 (PJW)
 
Debtor
  
Reporting Per January 30, 2010

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING
MOR 5c

Accounts Receivable Reconciliation
  
Amount
  
Total Accounts Receivable at the beginning of the reporting period
   $ 93  
+ Amounts billed during the period
        
- Amounts collected during the period
   $ 93  
Total Accounts Receivable at the end of the reporting period
   $ -  
         
Accounts Receivable Aging
  
Amount
  
0 - 30 days old
        
31 - 90 days old
        
91 - 180 days old
        
181 - 365 days old
        
365 + days old
        
Subtotal Aged Accounts Receivable
   $ -  
Accounts Receivable Not Aged
        
Total Accounts Receivable
   $ -  
Amount considered uncollectible (Bad Debt)
        
Accounts Receivable (Net)
   $ -  

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.
(1)
X
  
2
Have any funds been disbursed from any account other than a debtor in possession account this reporting period?
    
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
  
5
Has any bank account been opened during the reporting period?  If yes, provide documentation identifying the opened account(s).  If an investment account has been opened provide the required documentation pursuant to the Delaware Local Rule 4001-3.
    
X

(1)  Substantially all assets were Sold to Tops Markets LLC on 1/29/2010

 
 
 

UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE

In re  The Penn Traffic Company et al
Case No.
  09-14078  (PJW)
Debtors
Reporting Period:
   January 30, 2010

Status of Bank Reconciliations and Unpaid Postpetition Taxes

I, Ronald F. Stengel, certify that:

I am the Chief Restructuring Officer of The Penn Traffic Company and each of its affiliated.
Dedtors.

All of the Company's bank reconciliations have been balanced for the period ending January 30, 2010.  A list of those bank accounts with period ending balances is attached.

All post-petition witholding taxes, property taxes, real estate taxes, sales and use taxes and sales taxes that are due and payable were paid. A list of those taxes paid is attached.

/s/ Ronald F. Stengel
  
23 February 2010
Ronald F. Stengel
  
Date
Chief Restructuring Officer
    
 
 
 
 

The Penn Traffic Company
Bank Account Balances
       
Actual
  
Bank Name
  
A/C#
  
1-30-10
  
First Commonwealth Bank
  
4983
     3,397  
Bank of America Business Capital
  
2194
     3,470,146  
Bank of America Business Capital
  
3549
     (1,599 )
Bank of America Business Capital
  
2204
     (22,117 )
Bank of America Business Capital
  
5976
     19,853,299  
Banc of America Securities LLC
  
4712
     -  
Bank of America Business Capital
  
6956
     (132,694 )
HSBC Bank USA, National Association
  
3033
     11,117  
Bank of America Business Capital
  
2069
     (88,627 )
Bank of America Business Capital
  
3549
     2,753  
HSBC Bank USA, National Association
  
9521
     346,939  
Bank of America Business Capital
  
2069
     (1,465,323 )
HSBC Bank USA, National Association
  
7256
     300,038  
HSBC Bank USA, National Association
  
4225
     69,827  
HSBC Bank USA, National Association
  
4439
     14,331  
Bank of America Business Capital
  
2084
     1,067,781  
Fifth Third Bank
  
4602
     1,869,284  
Fifth Third Bank
  
4651
     -  
Lake Region Bank
  
5136
     44,453  
Lake Region Bank
  
5224
     -  
Lake Region Bank
  
5312
     -  
Lake Region Bank
  
5558
     -  
HSBC Bank USA, National Association
  
0463
     168,360  
HSBC Bank USA, National Association
  
0974
     429,975  
HSBC Bank USA, National Association
  
7312
     7,521  
First Citizens Bank
  
1002
     12,410  
NBT Bank
  
2424
     19,475  
Peoples State Bank
  
3200
     10,568  
Ameriserv Financial Bank
  
5230
     145,155  
RBS Citizens, National Association
  
5043
     -  
First Commonwealth Bank
  
2264
     -  
Hamlin Bank
  
0306
     -  
HSBC Bank USA, National Association
  
6050
     -  
M&T Bank
  
6855
     -  
Merchants Bank
  
1875
     -  
National City Bank/PNC Bank
  
8153
     -  
Northwest Savings Bank
  
3249
     -  
Northwest Savings Bank
  
3245
     -  
PNC Bank
  
8142
     -  
S&T Bank
  
6912
     -  
Bank of America Business Capital
  
8023
     25,965  
Bank of America Business Capital
  
2852
     -  
Bank of America Business Capital
  
2865
     -  
Bank of America Business Capital
  
2878
     -  
Bank of America Business Capital
  
7938
     -  
Bank of America Business Capital
  
1347
        
Total
      
$
 26,162,434  
 
 
 
 

The Penn Traffic Co.
Taxes Paid Through 01/30/2010

   
Tax 
  
Amount
  
Date
Legal Entity
  
Paid
  
Paid
  
Paid
Taxes Paid through November 28
     1,681,547.75    
               
Taxes Paid through December 28
     3,022,437.39    
               
Penn Traffic Co.
  
Fed-SS-MED
     566,879.00  
12/28/09
Penn Traffic Co.
  
NY Sales Tax
     572,541.14  
12/28/09
PT Fayetteville/Utica, LLC
  
NY Sales Tax
     29,430.45  
12/28/09
Penn Traffic Co.
  
VT Meals & Rooms Tax
     1,049.13  
12/28/09
Penn Traffic Co.
  
VT Sales Tax
     7,931.47  
12/28/09
PT Fayetteville/Utica, LLC
  
Fed-SS-MED
     12,182.19  
12/30/09
Pennway Express Inc.
  
Fed-SS-MED
     5,600.61  
12/30/09
Penn Traffic Co.
  
NY Withholding
     70,188.89  
12/30/09
PT Fayetteville/Utica, LLC
  
NY Withholding
     1,884.62  
12/30/09
Penn Traffic Co.
  
VT Withholding
     685.91  
12/30/09
Penn Traffic Co.
  
Fed-SS-MED
     573,486.28  
01/04/10
Penn Traffic Co.
  
VT Withholding
     804.32  
01/04/10
Credit Union
  
NY Withholding
     243.95  
01/05/10
PT Fayetteville/Utica, LLC
  
Fed-SS-MED
     18,393.92  
01/06/10
Pennway Express Inc.
  
Fed-SS-MED
     5,513.32  
01/06/10
Penn Traffic Co.
  
NY Withholding
     69,830.51  
01/06/10
PT Fayetteville/Utica, LLC
  
NY Withholding
     2,554.77  
01/06/10
Penn Traffic Co.
  
PA Withholding
     55,846.80  
01/06/10
Pennway Express Inc.
  
PA Withholding
     1,815.45  
01/06/10
Penn Traffic Co.
  
PA EIT
     9,354.27  
01/08/10
Penn Traffic Co.
  
Fed-SS-MED
     649,142.39  
01/11/10
Penn Traffic Co.
  
PA EIT
     39,976.71  
01/11/10
Penn Traffic Co.
  
PA LST
     5,401.65  
01/11/10
PT Fayetteville/Utica, LLC
  
Fed-SS-MED
     217.62  
01/12/10
Penn Traffic Co.
  
PA EIT
     26,063.44  
01/12/10
Penn Traffic Co.
  
PA LST
     7,661.76  
01/12/10
PT Fayetteville/Utica, LLC
  
Fed-SS-MED
     16,238.55  
01/13/10
Pennway Express Inc.
  
Fed-SS-MED
     5,051.58  
01/13/10
Penn Traffic Co.
  
NY Withholding
     79,076.81  
01/13/10
PT Fayetteville/Utica, LLC
  
NY Withholding
     2,536.21  
01/13/10
Pennway Express Inc.
  
PA EIT
     2,676.81  
01/13/10
Penn Traffic Co.
  
VT Withholding
     895.19  
01/13/10
Providers Credit Union
  
Fed-SS-MED
     3,666.18  
01/15/10
Pennway Express Inc.
  
PA LST
     461.09  
01/15/10
Penn Traffic Co.
  
Fed-SS-MED
     579,109.96  
01/19/10
Penn Traffic Co.
  
NH Meals & Rentals
     377.45  
01/19/10
PT Fayetteville/Utica, LLC
  
NY Withholding
     1,800.22  
01/19/10
Penn Traffic Co.
  
PA Sales Tax
     125,936.54  
01/20/10
PT Fayetteville/Utica, LLC
  
Fed-SS-MED
     12,035.15  
01/21/10
Pennway Express Inc.
  
Fed-SS-MED
     4,411.67  
01/21/10
Penn Traffic Co.
  
NY Withholding
     71,241.34  
01/21/10
Penn Traffic Co.
  
PA Withholding
     37,622.39  
01/21/10
Pennway Express Inc.
  
PA Withholding
     1,121.74  
01/21/10
Penn Traffic Co.
  
VT Withholding
     635.49  
01/21/10
Penn Traffic Co.
  
Fed-SS-MED
     577,305.96  
01/25/10
Penn Traffic Co.
  
NY Tobacco
     31,744.75  
01/25/10
Penn Traffic Co.
  
OH Sales Tax
     867.24  
01/25/10
Penn Traffic Co.
  
VT Meals & Rooms Tax
     988.00  
01/25/10
Penn Traffic Co.
  
VT Sales Tax
     7,748.00  
01/25/10
PT Fayetteville/Utica, LLC
  
Fed-SS-MED
     12,102.25  
01/27/10
Pennway Express Inc.
  
Fed-SS-MED
     5,667.02  
01/27/10
Penn Traffic Co.
  
NY Sales Tax
     626,361.75  
01/27/10
PT Fayetteville/Utica, LLC
  
NY Sales Tax
     29,488.74  
01/27/10
Penn Traffic Co.
  
NY Withholding
     70,954.89  
01/27/10
PT Fayetteville/Utica, LLC
  
NY Withholding
     1,813.38  
01/27/10
Penn Traffic Co.
  
VT Withholding
     597.78  
01/27/10
Penn Traffic Co.
  
VT SUI 4th Qtr
     1,803.44  
01/29/10
Penn Traffic Co.
  
NH SUI  4th Qtr
     552.20  
02/02/10
Taxes Paid through January 30
     5,047,570.34    
               
Total Taxes Paid
         9,751,555.48    
 
 
 
 
 
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