EX-99.1 2 v195407_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: July 31, 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/ Eric J. Sattler
  
8/24/10
  
Signature of Authorized Individual*
Date
  
       
Eric J. Sattler
  
VP of Finance, Interim CFO
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: July 31, 2010

MONTHLY OPERATING REPORT

Summary of Cases
    
 
Debtor
  
Case Number
       
 
The Penn Traffic Company, Debtor
  
09-14078 (PJW)
(1)
Sunrise Properties, Debtor
  
09-14079 (PJW)
(1)
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)
 
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)
(1)
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.

 
 
 
 
 
MOR-1
Case No. 09-14978 (PJW)
   
Reporting Period: July 31, 2010

In re: The Penn Traffic Company, et al
Debtors
6/27 - 7/31 Total Cash Flow
                                          
($ in thousands)
                                
6/27 - 7/31
    
Cumulative
  
   
7-3-10
    
7-10-10
    
7-17-10
    
7-24-10
    
7-31-10
    
Total
    
to Date
  
                                                     
Cash Receipts:
                                                    
                                                     
Store Cash
   $ -     $ -     $ -     $ -     $ -     $ -     $ 351  
Sales Receipts
     -       -       -       -       -       -       94,177  
A/R Vendors
     272       141       342       193       145       1,092       21,742  
Sale Proceeds
     -       -       -       -       -       -       86,501  
Topco Dividend
     -       -               -       -       -       -  
Vendor Deposits
     -       134               -       -       134       (1,451 )
Utility Deposits
     160       -       3       44       65       272       (723 )
Other Receivables
     .       -       -       -       -       -       101  
Miscellaneous
     0       -       -       0       -       0       20,299  
Return of GE/Kimco Escrow Funds
     -       -       -       -       -       -       600  
Disputed Amounts/Litigation
     -       -       -       -       -       -       -  
LC Collateral and Fees
     -       -       -       -       -       -       -  
Prepaid Expenses
     -       -       -       -       -       -       -  
Other Assets
     101       0       0       54               156       156  
Pharmacy
     14       17       15       16       12       74       41,986  
Funds Transferred Cure Cost Escrow
     -       -       -       -       -       -       (1,087 )
Funds Transferred Closing Issues Escrow
     -       -       -       12,482       -       12,482       (18 )
Funds Transferred Prof Carve Out Escrow
             -       -       -       -       -       (2,279 )
Total Receipts
     546       292       360       12,789       222       14,210       260,353  
                                                         
Cash Disbursements:
                                                        
                                                         
Employee Expenses:
                                                        
Store Payroll, Taxes & Benefits
     -       -       -       -       -       -       27,664  
Corporate Payroll
     19       20       20       13       21       93       4,284  
Corporate Taxes and Benefits
     6       9       10       7       55       87       2,160  
Retention
     -       -       -               -       -       -  
Total Payroll, Taxes & Benefits
     25       28       30       20       76       180       34,108  
                                                         
Operating Expenses:
                                                        
Rent/Mortgage
     10       -       -       -       10       20       3,462  
Utilities
     7       3       0       0       -       10       3,666  
Supplies
     1       -       -       -       0       1       267  
Accounts Payable
     131       39       10       11       16       207       97,537  
401K
     -       -       -       -       -       -       -  
Insurance Premiums
     0       5       5       0       3       13       421  
Medical Tail
     16       5       19       6       9       54       495  
Workmans Comp Claims
             1       2       0       -       4       2,436  
Information Technology
     -       -       -       -       -       -       -  
Taxes
     -       -       -       -       -       -       44  
Sales Tax
     -       -       -       -       -       -       2,681  
Travel
     -       0       0       0       0       1       6  
Other
     -       -       8       -       -       8       76,344  
Miscellaneous
     165       -       -       -       -       165       7,846  
Contingency
     -       -       -       -       -       -       -  
Total Operating Expenses
     329       53       44       17       38       482       195,205  
 
                                                       
Union:
                                                        
Medical
     -       -       -       -       -       -       5,449  
Pension
     -       -       -       -       -       -       1,161  
Union Claims
     -       -       -       -       -       -       48  
Total Union Expenses
     -       -       -       -       -       -       6,658  
                                                         
Bankruptcy Expenses:
                                                        
Professional Fees
     1,309       20       41       155       14       1,540       8,218  
UST Fees
     -       -       -       -       20       20       108  
Claims Agent
     -       -       -       -       153       153       1,310  
Cure Costs
     117       11       -       -       -       128       3,194  
Administrative Claims/Other
     -       -       -       -       -       -       -  
Total Bankruptcy Expenses
     1,427       31       41       155       187       1,841       12,830  
                                                         
Total Disbursements
     1,781       112       116       193       302       2,503       248,802  
                                                         
Net Cash Flows
     (1,234 )     179       245       12,596       (80 )     11,707       11,552  

 
 
 

In re  The Penn Traffic Company, et al
      
Case No. 09-14078 (PJW)
Debtor
  
MOR 1B
  
Reporting Period: July 31, 2010

SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID

       
Amount
      
Check
  
Amount Paid
  
Year-To-Date
  
Retainer Information
Payee
  
Period Covered
  
Approved
  
Payor
  
Number
  
Date
  
Fees
  
Expenses
  
Adjustment
  
Fees
  
Expenses
  
Notes
                                             
Donlin Recano
         40,000.00  
Penn Traffic
             40,000.00             40,000.00     -  
Partially Paid with Retainer
Donlin Recano
  
11/1/09 -11/30/09
     122,573.75  
Penn Traffic
     28195676  
1/21/2010
     91,343.67     31,230.08         131,343.67     31,230.08    
Donlin Recano
  
12/22/2009
     4,500.00  
Penn Traffic
     28274814  
12/24/09
     -     4,500.00         131,343.67     35,730.08    
Donlin Recano
  
12/1/09 -12/31/09
     123,854.43  
Penn Traffic
     28602926  
1/21/2010
     105,964.83     17,889.60         237,308.50     53,619.68    
Donlin Recano
  
1/6/10 - 1/8/2010
     20,500.00  
Penn Traffic
     28481927  
1/12/10
     -     20,500.00         237,308.50     74,119.68    
Donlin Recano
  
1/24/2010
     4,150.00  
Penn Traffic
     0000467 A
1/25/2010
     -     4,150.00         237,308.50     78,269.68    
Donlin Recano
  
1/1/10 - 1/31/10
     276,170.57  
Penn Traffic
     265117  
2/24/2010
     243,243.15     32,927.42         480,551.65     111,197.10    
Donlin Recano
  
2/17/2010
     3,900.00  
Penn Traffic
     28943367  
1/17/2010
     -     3,900.00         480,551.65     115,097.10    
Donlin Recano
  
3/9/10 - 3/10/10
     14,625.00  
Penn Traffic
     29190692  
3/8/2010
     -     14,625.00         480,551.65     129,722.10    
Donlin Recano
  
2/1/10 - 2/28/10
     97,135.82  
Penn Traffic
     29349310  
3/19/2010
     75,778.62     21,357.20         556,330.27     151,079.30    
Donlin Recano
  
3/1/10 - 3/31/10
     183,424.00  
Penn Traffic
  
WIRE30154484
  
5/21/2010
     169,244.03     14,179.97         725,574.30     165,259.27    
Donlin Recano
  
4/1/10 - 4/30/10
     131,894.83  
Penn Traffic
  
WIRE30154484
  
5/21/2010
     119,310.64     12,584.19         844,884.94     177,843.46    
Donlin Recano
  
5/1/10 - 5/31/10
     154,128.55  
Penn Traffic
  
WIRE30459102
  
6/16/2010
     141,705.54     12,423.01         986,590.48     190,266.47    
Donlin Recano
  
5/27/2010
     2,200.00  
Penn Traffic
  
WIRE30476011
  
6/17/2010
     -     2,200.00         986,590.48     192,466.47    
Donlin Recano
  
6/14/2010
     1,500.00  
Penn Traffic
  
WIRE30476011
  
6/17/2010
     -     1,500.00         986,590.48     193,966.47    
Donlin Recano
  
6/16/10 - 6/28/10
     14,000.00  
Penn Traffic
  
WIRE30560637
  
6/23/2010
     -     14,000.00         986,590.48     207,966.47    
Donlin Recano
  
6/1/10 - 6/30/10
     152,714.62  
Penn Traffic
     1268-008  
7/15/2010
     139,856.66     12,857.62         1,126,447.14     220,824.09    
                                                         
Conway, Del Genio, Greis
  
11/18/09 - 11/30/09
     66,590.09  
Penn Traffic
               60,000.00     6,590.09         60,000.00     6,590.09  
Paid with Retainer
Conway, Del Genio, Greis
  
12/1/09 - 12/31/09
     162,686.75  
Penn Traffic
     28865298  
2/10/2010
     150,000.00     12,686.75         210,000.00     19,276.84  
Partially Paid with Retainer
Conway, Del Genio, Greis
  
1/1/10 - 1/31/10
     155,760.20  
Penn Traffic
     262967  
1/7/2010
     150,000.00     5,760.20         360,000.00     25,037.04    
Conway, Del Genio, Greis
  
2/1/10 - 2/28/10
     163,245.66  
Penn Traffic
     28865298  
2/2/2010
     150,000.00     13,245.66         510,000.00     38,282.70    
Conway, Del Genio, Greis
  
3/1/10 - 3/31/10
     164,893.51  
Penn Traffic
     29274664  
3/8/2010
     150,000.00     14,893.51         660,000.00     53,176.21    
Conway, Del Genio, Greis
  
4/1/10 - 4/30/10
     165,450.35  
Penn Traffic
     29709119  
4/16/2010
     150,000.00     15,450.35         810,000.00     68,626.56    
Conway, Del Genio, Greis
  
5/1/10 - 5/31/10
     162,556.36  
Penn Traffic
     30133205  
5/20/2010
     150,000.00     12,556.36         960,000.00     81,182.92    
Conway, Del Genio, Greis
  
6/1/10 - 6/30/10
     152,313.62  
Penn Traffic
  
WIRE30359562
  
6/8/2010
     140,000.00     12,313.62         1,100,000.00     93,496.54    
Conway, Del Genio, Greis
  
Restructuring Fee
     1,250,000.00  
Penn Traffic
  
WIRE30613127
  
6/29/2010
     1,250,000.00     -         2,350,000.00     93,496.54    
Conway, Del Genio, Greis
  
Final Exp billing
     13,860.69  
Penn Traffic
     2322  
7/8/2010
     -     13,860.69         2,350,000.00     107,357.23    
                                                         
Fulbright & Jaworski
  
11/18/09 - 11/30/09
     62,378.72  
Penn Traffic
     27761495  
11/17/2009
     49,203.20     874.72         49,203.20     874.72  
Partially Paid with Retainer
Fulbright & Jaworski
  
12/1/09 -12/31/09
     97,457.23  
Penn Traffic
     28944754  
2/17/2010
     76,684.60     1,601.48         125,887.80     2,476.20    
Fulbright & Jaworski
  
1/1/10 - 1/31/10
     77,812.61  
Penn Traffic
     29363535  
3/22/2010
     59,992.20     2,822.36         185,880.00     5,298.56    
Fulbright & Jaworski
  
2/1/10 - 2/28/10
     38,335.78  
Penn Traffic
     29616130  
4/9/2010
     28,893.20     2,219.28         214,773.20     7,517.84    
Fulbright & Jaworski
  
11/18/09 - 2/28/10
  
NA
  
Penn Traffic
     30154540  
5/21/2010
     53,693.30     -     (3,000.00 )   265,466.50     7,517.84    
Fulbright & Jaworski
  
3/1/10 - 3/31/10
     57,770.15  
Penn Traffic
     30015725  
5/11/2010
     45,734.60     601.90           311,201.10     8,119.74    
Fulbright & Jaworski
  
4/1/10 - 4/30/10
     37,489.93  
Penn Traffic
  
WIRE30459125
  
6/16/2010
     28,967.20     1,280.93           340,168.30     9,400.67    
Fulbright & Jaworski
  
5/1/10 - 5/31/10
     16,881.68  
Penn Traffic
  
WIRE30723578
  
7/8/2010
     13,323.60     227.18           353,491.90     9,627.85    
                                                           
Otterbourg, Steindler, Houston
  
12/2/09 - 12/31/09
     348,408.72  
Penn Traffic
     29055915  
2/25/2010
     276,294.00     3,041.22           276,294.00     3,041.22    
Otterbourg, Steindler, Houston
  
1/1/10 - 1/31/10
     306,265.83  
Penn Traffic
     29363581  
3/22/2010
     237,465.60     9,433.83           513,759.60     12,475.05    
Otterbourg, Steindler, Houston
  
2/1/10 - 2/28/10
     88,178.00  
Penn Traffic
     29779154  
4/22/2010
     68,374.00     2,710.50           582,133.60     15,185.55    
Otterbourg, Steindler, Houston
  
12/2/09 - 2/28/09
  
NA
  
Penn Traffic
     30154627  
5/21/2010
     145,533.40     -     (5,992.00 )   721,675.00     15,185.55  
Fee Examiner and Unbilled
Otterbourg, Steindler, Houston
  
3/1/10 - 3/31/10
     85,369.41  
Penn Traffic
     31033296  
5/20/2010
     67,205.60     1,362.41           788,880.60     16,547.96    
Otterbourg, Steindler, Houston
  
4/1/10 - 4/30/10
     147,248.75  
Penn Traffic
  
WIRE30459164
  
6/16/2010
     116,210.80     1,985.25           905,091.40     18,533.21    
Otterbourg, Steindler, Houston
  
5/1/10 - 5/31/10
     178,074.69  
Penn Traffic
  
WIRE30913555
  
7/23/2010
     140,554.00     2,382.19           1,045,645.40     20,915.40    
                                                           
Haynes and Boone
  
11/18/09 - 11/30/10
     286,068.80  
Penn Traffic
               224,657.20     5,247.30           224,657.20     5,247.30  
Paid with Retainer
Haynes and Boone
  
12/1/09 - 12/31/10
     623,695.12  
Penn Traffic
     29517366  
4/1/2010
     492,994.40     7,452.12           717,651.60     12,699.42  
Partially Paid with Retainer
Haynes and Boone
  
1/1/10 - 1/31/10
     858,782.53  
Penn Traffic
     29965870  
5/6/2010
     677,477.60     11,935.53           1,395,129.20     24,634.95    
Haynes and Boone
  
2/1/10 - 2/28/10
     428,310.48  
Penn Traffic
     29982484  
5/7/2010
     331,599.40     13,811.23           1,726,728.60     38,446.18    
Haynes and Boone
  
11/18/09 - 2/28/10
  
NA
  
Penn Traffic
     30154572  
5/21/2010
     431,682.15     -     (31,691.25 )   2,126,719.50     38,446.18    
Haynes and Boone
  
3/1/10 - 3/31/10
     387,058.30  
Penn Traffic
  
WIRE30459145
  
6/16/2010
     304,031.00     7,019.55           2,430,750.50     45,465.73    
                                                           
Morris, Nichols, Arsht & Tunnell
  
11/18/09 - 11/30/09
     58,869.13  
Penn Traffic
               37,213.60     12,352.13           37,213.60     12,352.13  
Paid with Retainer
Morris, Nichols, Arsht & Tunnell
  
12/1/09 - 12/31/10
     119,798.11  
Penn Traffic
     29396065  
3/24/2010
     92,043.60     4,743.61           129,257.20     17,095.74  
Partially Paid with Retainer
Morris, Nichols, Arsht & Tunnell
  
1/1/10 - 1/31/10
     119,628.87  
Penn Traffic
     29689519  
4/16/2010
     89,082.40     8,275.87           218,339.60     25,371.61    
Morris, Nichols, Arsht & Tunnell
  
2/1/10 - 2/28/10
     64,693.86  
Penn Traffic
     29779098  
4/22/2010
     50,589.60     1,456.86           268,929.20     26,828.47    
Morris, Nichols, Arsht & Tunnell
  
11/18/09 - 2/28/10
  
NA
  
Penn Traffic
     30154600  
5/21/2010
     67,232.30     -     (2,250.00 )   336,161.50     26,828.47    
                                                           
Stevens & Lee
  
12/2/09 - 12/31/09
     99,314.75  
Penn Traffic
     29396150  
3/24/2010
     78,304.40     1,434.25           78,304.40     1,434.25    
Stevens & Lee
  
1/1/10 - 1/31/10
     76,199.69  
Penn Traffic
     29396150  
3/24/2010
     59,384.00     1,969.69           137,688.40     3,403.94    
Stevens & Lee
  
2/1/10 - 2/28/10
     29,112.30  
Penn Traffic
     29779179  
4/22/2010
     22,411.20     1,098.30           160,099.60     4,502.24    
Stevens & Lee
  
12/2/09 - 2/28/10
  
NA
  
Penn Traffic
     30154653  
5/21/2010
     40,024.90     -     (2,500.00 )   200,124.50     4,502.24    
Stevens & Lee
  
3/1/10 - 3/31/10
     18,628.45  
Penn Traffic
     30133608  
5/20/2010
     13,923.20     1,224.45           214,047.70     5,726.69    
Stevens & Lee
  
4/1/10 - 4/30/10
     13,613.65  
Penn Traffic
  
WIRE30544194
  
6/22/2010
     10,166.40     905.65           224,214.10     6,632.34    
                                                           
FTI Consulting
  
12/2/09 - 12/31/09
     183,921.14  
Penn Traffic
     29517307  
4/1/2010
     146,471.20     832.14           146,471.20     832.14    
FTI Consulting
  
1/1/10 - 1/31/10
     73,330.49  
Penn Traffic
  
WIRE30544285
  
6/22/2010
     57,936.40     909.99           204,407.60     1,742.13    
FTI Consulting
  
2/1/10 - 2/28/10
     16,014.18  
Penn Traffic
  
WIRE30544285
  
6/22/2010
     12,777.60     42.18           217,185.20     1,784.31    
                                                           
BTB Assocaites, LLC
  
1/7/10 - 3/31/10
     13,584.80  
Penn Traffic
               10,844.00     29.80           10,844.00     29.80    
                                                           
Total
         8,803,340.15                   8,124,578.99     439,435.42     (45,433.25 )              

 
 
 

In re The Penn Traffic Company, et al
Case No.    09-14078 (PJW)
Debtors
Reporting Period:    July 31, 2010

MOR 2
Consolidated Statement of Operations
(In thousands)
Unaudited

   
Penn
    
Commander
    
Pennway
    
Penny
    
Sunrise
    
Penn Traffic
    
Consolidated
  
   
Traffic
    
Foods
    
Express
    
Curtiss
    
Properties
    
Eliminations
    
Penn Traffic
  
                                           
Revenues
   $ 3     $ -     $ -           $ -           $ 3  
                                                     
Cost and Operating Expenses
                                                    
Cost of sales
     -       -                                   -  
Selling and administrative expenses
     86       167                             -       253  
Asset impairment charge
     -       -       -       -       -       -       -  
Goodwill impairment charge
     -       -       -       -       -       -       -  
                                                         
Operating Income
     (82 )     (167 )     -       -       -       -       (250 )
                                                         
Interest expense
     129       -       -       -       -       -       129  
Reorganization expense
     472       -       -       -       -       -       472  
                                                         
(Loss) Income from continuing operations before taxes
     (683 )     (167 )     -       -       -       -       (850 )
Provision for income taxes
     -       -       -       -       -       -       -  
                                                         
(Loss) Income before loss from discontinued operations, net of tax
     (683 )     (167 )     -       -       -       -       (850 )
                                                         
(Loss) income from discontinued operations, net of tax
     -       -       -       -               -       -  
                                                         
(Loss) Income before extraordinary item
     (683 )     (167 )     -       -       -       -       (850 )
                                                         
Extraordinary item
     -       -       -       -       -       -       -  
                                                         
Net (Loss) Income
   $ (683 )   $ (167 )   $ -     $ -     $ -     $ -     $ (850 )

(1)   The following legal entities: Big M Supermarkets, Inc., PT Fayetteville/Utica, LLC, 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 May 30, 2010 through June 26, 2010 for these entities.

 
 
 

In re: The Penn Traffic Company, et al
Case No.  09-14078 (PJW)
Debtors
Reporting Period: July 31, 2010

MOR 3
Consolidated Balance Sheet
As of July 31, 2010
Unaudited
(In Thousands)

   
Penn
    
Commander
          
Pennway
    
Penny
    
Sunrise
    
Penn Traffic
    
Consolidated
  
   
Traffic
    
Foods
    
Big M
    
Express
    
Curtiss
    
Properties
    
Eliminations
    
Penn Traffic
  
ASSETS
                                                
                                                 
Current Assets:
                                                
Cash and short-term investments
     37,994       -       -       -       -       -       -       37,994  
Accounts and notes receivables
     11,125       -       -       129       -       -       -       11,254  
Inventories
     -       -       -       -       -       -       -       -  
Prepaid expenses and other current assets
     576       -       -       -       -       -       -       576  
Assets Held for Sale
     -       -       -       -       -       -       -       -  
      49,695       -       -       129       -       -       -       49,824  
                                                                 
Noncurrent Assets:
                                                                
Capital leases
     -       -       -       -       -       -       -       -  
Property, plant and equipment
     -       -       -       -       -       -       -       -  
Goodwill
     -       -       -       -       -       -       -       -  
Intangible assets
     -       -       -       -       -       -       -       -  
Other assets
     32,793       -       -       -       -       -       -       32,793  
      82,488       -       -       129       -       -       -       82,617  
                                                                 
LIABILITIES AND STOCKHOLDERS' EQUITY
                                                                
                                                                 
Current Liabilities:
                                                                
Current portion of obligations under capital leases
     -       -       -       -       -       -       -       -  
Current maturities under long-term debt
     -       -       -       -       -       -       -       -  
Trade account and drafts payables
     34       -       -       -       -       -       -       34  
Other current liabilities
     5,703       -       -       -       -       -       -       5,703  
Accrued interest expense
     -       -       -       -       -       -       -       -  
Deferred income taxes
     -       -       -       -       -       -       -       -  
      5,737       -       -       -       -       -       -       5,737  
                                                                 
Intercompany payables
     -       -       -       -       -       -       -       -  
                                                                 
Noncurrent Liabilities:
                                                                
Obligations under capital leases
     -       -       -       -       -       -       -       -  
Long-term debt
     -       -       -       -       -       -       -       -  
Deferred income taxes
     -       -       -       -       -       -       -       -  
Other noncurrent liabilities
     11,841       -       -       -       -       -       -       11,841  
                                                                 
Total Liabilities Subject to Compromise
     77,818       -       -       -       2,609       -       -       80,427  
                                                                 
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
     (140,899 )     -       (20 )     128       (2,659 )     (1 )     -       (143,451 )
Accumulated other comprehensive loss
     (270 )     -       -       -       -       -       -       (270 )
Treasury stock, 53,000 shares at cost
     -       -       -       -       -       -       -       -  
Total Stockholders Equity
     (12,907 )     -       -       129       (2,609 )     -       -       (15,387 )
                                                                 
      82,489       -       -       129       -       -       -       82,618  

(1) Balance does not include any contingent claims such as multi-employer pension plans that is expected to increase the liabilities above the value of any assets of the company.

 
 
 

In re: The Penn Traffic Company, et al
Case No.  09-14078 (PJW)
Debtors
Reporting Period: July 31, 2010

MOR 4
Status of Post Petition Taxes

   
06/27/10
                            
07/31/10
  
   
Beginning
    
Amount Withheld
    
Amount
    
Date
    
Check No.
    
Ending
  
   
Tax Liability
    
or Accrued
    
Paid
    
Paid
    
or EFT
    
Tax Liability
  
Federal
                                                
Withholding
     9,406       (35,070 )     21,913    
07/15/10
               (3,751 )
                                                 
FICA -Employee
     816       (9,175 )     130    
06/30/10
               (1,599 )
                      62    
07/08/10
                  
                      65    
07/14/10
                  
                      6,369    
07/15/10
                  
                      57    
07/21/10
                  
                      77    
07/28/10
                  
                                                 
FICA -Employer
     606       (8,965 )     130    
06/30/10
               (1,599 )
                      62    
07/08/10
                  
                      65    
07/14/10
                  
                      6,369    
07/15/10
                  
                      57    
07/21/10
                  
                      77    
07/28/10
                  
                                                 
Totals
     10,828       (53,210 )     35,432                       (6,950 )
                                                 
Unemployment
     (5,409 )     (79 )                             (5,488 )
                                                 
Income
                                                
Other
                                                
Total Federal Taxes
     5,419       (53,289 )     35,432                       (12,438 )
                                                 
State
                                                
Withholding- PA
     (407 )     407                               -  
                                                 
Withholding- VT
     664       (664 )     -                       -  
                                                 
Withholding- NY
     73       (6,026 )     1,966    
07/14/10
               (1,306 )
                      1,575    
07/12/10
                  
                      1,105    
07/28/10
                  
                                                 
Total State Withholding
     330       (6,283 )     4,647                       (1,306 )
                                                 
Local Taxes
                                                
Local -EIT
     (4,696 )     1,103       3,386                       -  
                      207                          
Local -LST
     (690 )     690                               -  
                                                 
Total Local Taxes
     (5,386 )     1,793       3,593                       -  
                                                 
Sales
                                                
Sales - NY
     (123 )     123                               -  
Sales - PA
     -                                       -  
Sales - OH
     -                                       -  
Sales - VT
     -       -       -                       -  
                                                 
Total Sales Tax
     (123 )     123       -                       -  
                                                 
Excise
                                                
Unemployment - NY
     (7,085 )     (5,103 )     12,085    
07/30/10
               (23 )
                      80    
07/30/10
                  
                                                 
Unemployment - PA
     (21,995 )     (1,857 )     23,837    
07/30/10
               0  
                      15    
07/30/10
                  
                                                 
Unemployment - VT
     (1,152 )     (63 )     1,215    
07/30/10
               -  
Unemployment - NH
     851       (1,382 )     531    
07/30/10
               -  
Real property
     -       -       -                       -  
Tobacco
     -       -       -                       -  
                                                 
Total Excise
     (29,381 )     (8,404 )     37,762                       (23 )
                                                 
Other
                                                
Meals and Room - VT
     -       -       -                       -  
                                                 
Meals and Room - NH
     -       -       -                       -  
Mercantile Tax
     -       -       -                       -  
                                                 
Total Other
     -       -       -                       -  
                                                 
Total Taxes
     (29,141 )     (66,060 )     81,434                       (13,767 )

 
 
 

In re: The Penn Traffic Company et al
Case No. 09-14978 (PJW)
Debtors
Reporting Period: July 31, 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
     33,579                                     33,579  
Wages Payable
     30,641                                     30,641  
Taxes Payable
     13,767                                     13,767  
Rent/Leases-Building
                                     66,980       66,980  
Rent/Leases-Equipment
                                             0  
Secured Debt/Adequate Protection Payments
                                             0  
Professional Fees
     2,183,832                                       2,183,832  
Amounts Due to Insiders
                                             0  
Other Accrued Liabilities
     402,538                                       402,538  
Other:__________________________
                                             0  
Total Postpetition Debts
     2,664,357       0       0       0       66,980       2,731,337  

 
 
 

In re
The Penn Traffic Company
  
Case N09 -14078 (PJW)
 
Debtor
  
Reporting Per July 31, 2010

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING
MOR 5a

Accounts Receivable Reconciliation
  
Amount
  
Total Accounts Receivable at the beginning of the reporting period
   $ 11,116,336  
+ Amounts billed during the period (Aged)
   $ 835,869  
- Amounts collected during the period (Aged)
   $ 1,669,729  
- Amounts collected during the period (Not Aged)
        
+ Amounts billed during the period (Not Aged)
   $ 842,094  
Total Accounts Receivable at the end of the reporting period
   $ 11,124,570  
         
Accounts Receivable Aging
  
Amount
  
0 - 30 days old
   $ 743  
31 - 90 days old
   $ 90,802  
91 - 180 days old
   $ 1,192,603  
181 - 365 days old
   $ 2,370,217  
365 + days old
   $ (85,346 )
Subtotal Aged Accounts Receivable
   $ 3,569,019  
Accounts Receivable Not Aged
   $ 12,982,105  
Total Accounts Receivable
   $ 16,551,125  
-Amount considered uncollectible (Bad Debt)
   $ 5,426,555  
Accounts Receivable (Net)
   $ 11,124,570  

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?
      
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

 
 
 
 
In re 
Pennway Express, Inc.
  
Case N09 -14080 (PJW)
 
Debtor
Reporting Per July 31, 2010

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING
MOR 5b

Accounts Receivable Reconciliation
  
Amount
  
Total Accounts Receivable at the beginning of the reporting period
   $ 132,175  
+ Amounts billed during the period
   $ (19 )
- Amounts collected during the period
   $ 2,867  
Total Accounts Receivable at the end of the reporting period
   $ 129,289  

Accounts Receivable Aging
  
Amount
  
0 - 30 days old
   $ -  
31 - 90 days old
   $ -  
91 - 180 days old
   $ 1,054  
181 - 365 days old
   $ 105,101  
365 + days old
   $ 23,134  
Subtotal Aged Accounts Receivable
   $ 129,289  
Accounts Receivable Not Aged
   $ -  
Total Accounts Receivable
   $ 129,289  
-Amount considered uncollectible (Bad Debt)
        
Accounts Receivable (Net)
   $ 129,289  

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?
      
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
 

UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE

In re  The Penn Traffic Company et al
Case No.
  09-14078  (PJW)
Debtors
Reporting Period:
  July 31, 2010

Status of Bank Reconciliations and Unpaid Postpetition Taxes

I, Eric J. Sattler, certify that:

I am the Vice President of Finance and Interim Chief Financial Officer of The Penn Traffic Company and Vice President of each of its affiliated Debtors.

All of the Company's bank reconciliations have been balanced for the period ending July 31, 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/ Eric J. Sattler
  
8/24/10
Eric J. Sattler
  
Date
VP of Finance and Interim CFO
 
 
               
 
The Penn Traffic Company
            
 
Bank Account Balances
            
           
Actual
  
 
Bank Name
  
A/C#
    
7-31-10
  
1
First Commonwealth Bank
  
4983
       - *
2
Bank of America Business Capital
  
2194
       43,839  
3
Bank of America Business Capital
  
3549
       - *
4
Bank of America Business Capital
 
2204
       50,000  
5
Bank of America Business Capital
  
5976
       -  
6
Banc of America Securities LLC
  
4712
       - *
7
Bank of America Business Capital
  
6956
       (1,866 )
8
HSBC Bank USA, National Association
  
3033
       - *
9
Bank of America Business Capital
  
2069
       - *
10
Bank of America Business Capital
  
3549
       - *
11
HSBC Bank USA, National Association
  
9521
       2,686  
12
Bank of America Business Capital
  
2069
       638  
13
HSBC Bank USA, National Association
  
7256
       23,425  
14
HSBC Bank USA, National Association
  
4225
       (220 )
15
HSBC Bank USA, National Association
  
4439
       186  
16
Bank of America Business Capital
  
2084
       403  
17
Fifth Third Bank
  
4602
       - *
18
Fifth Third Bank
  
4651
       - *
19
Lake Region Bank
  
5136
       3,117  
20
Lake Region Bank
  
5224
       - *
21
Lake Region Bank
  
5312
       - *
22
Lake Region Bank
  
5558
       - *
23
HSBC Bank USA, National Association
  
0463
       (18,474 )
24
HSBC Bank USA, National Association
  
0974
       - *
25
HSBC Bank USA, National Association
  
7312
       - *
26
First Citizens Bank
  
1002
       - *
27
NBT Bank
  
2424
       - *
28
Peoples State Bank
  
3200
       - *
29
Ameriserv Financial Bank
  
5230
       - *
30
RBS Citizens, National Association
  
5043
       - *
31
First Commonwealth Bank
  
2264
       - *
32
Hamlin Bank
  
0306
       - *
33
HSBC Bank USA, National Association
  
6050
       - *
34
M&T Bank
  
6855
       - *
35
Merchants Bank
  
1875
       - *
36
National City Bank/PNC Bank
  
8153
       - *
37
Northwest Savings Bank
  
3249
       - *
38
Northwest Savings Bank
  
3245
       - *
39
PNC Bank
  
8142
       - *
40
S&T Bank
  
6912
       - *
41
Bank of America Business Capital
  
8023
       - *
42
Bank of America Business Capital
  
2852
       - *
43
Bank of America Business Capital
  
2865
       - *
44
Bank of America Business Capital
  
2878
       - *
45
Bank of America Business Capital
  
7938
       - *
46
Bank of America Business Capital
  
1347
       37,889,805  
 
Total
         $ 37,993,539  
 
* Bank Account has been closed
 
 
The Penn Traffic Co.
Taxes Paid Through 07/31/2010

   
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    
Taxes Paid through January 30
         5,047,570.34    
Taxes Paid through February 27
         3,017,188.94    
Taxes Paid through March 27
         1,462,243.69    
Taxes Paid through May 1
         1,764,707.42    
Taxes Paid through May 29
         484,384.27    
Taxes Paid through June 26
         49,764.08    
               
Penn Traffic Co.
  
Fed-SS-MED
     259.75  
06/30/10
Penn Traffic Co.
  
Fed-SS-MED
     123.27  
07/08/10
Penn Traffic Co.
  
Fed-SS-MED
     129.85  
07/14/10
Penn Traffic Co.
  
Fed-SS-MED
     113.78  
07/21/10
Penn Traffic Co.
  
Fed-SS-MED
     154.65  
07/28/10
Commander Foods Inc
  
NY Withholding
     1,966.32  
07/14/10
Commander Foods Inc
  
NY Withholding
     1,575.22  
07/21/10
Commander Foods Inc
  
NY Withholding
     1,105.03  
07/28/10
Commander Foods Inc
  
Fed-SS-MED
     34,651.11  
07/15/10
Commander Foods Inc
  
NY-SUI
     79.85  
07/30/10
Commander Foods Inc
  
PA-SUI
     14.78  
07/30/10
Commander Foods Inc
  
PA Local
     206.88  
07/30/10
Penn Traffic Co.
  
PA-SUI
     23,837.06  
07/30/10
Penn Traffic Co.
  
NY-SUI
     12,084.99  
07/30/10
Penn Traffic Co.
  
NH-SUI
     530.63  
07/30/10
Penn Traffic Co.
  
VT-SUI
     1,214.77  
07/30/10
Penn Traffic Co.
  
PA Local
     3,385.71  
07/30/10
               
Taxes Paid through July 31
         81,433.65    
               
Total Taxes Paid
         16,611,277.53