-----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, Pn1qxA1AzEn+BcBzoNC7H/19zAbxm3Ci3dPpp0psCtowUBXUQFEoCDJ1J3NGI5O5 kKJ6KpbMP4P3JAMjCx0Enw== 0001144204-10-051104.txt : 20100928 0001144204-10-051104.hdr.sgml : 20100928 20100928100849 ACCESSION NUMBER: 0001144204-10-051104 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20100927 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20100928 DATE AS OF CHANGE: 20100928 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: 101092435 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 v197522_8k.htm Unassociated Document
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): September 27, 2010
 
THE PENN TRAFFIC COMPANY
(Exact Name of Registrant as Specified in its Charter)
 
Delaware
(State or Other Jurisdiction
of Incorporation)
0-8858
(Commission File Number)
25-0716800
(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 as “debtors-in-possession” under the jurisdiction of the Bankruptcy Court and no trustee or examiner has been appointed in the Company’s case.  The Company currently believes that after the Company's repayment of its creditors to the extent it has available funds, none of its assets will remain available for distribution to its stockholders.  The Company intends to propose and have its Chapter 11 plan of liquidation confirmed by the Bankruptcy Court later in 2010.
 
On September 27, 2010, the Debtors filed their monthly operating report for the month ended August 28, 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, is 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 August 28, 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/ Eric J. Sattler
   
Name:
Eric J. Sattler
   
Title:
VP of Finance, Interim CFO

Date: September 28, 2010
 
 
 
 

EX-99.1 2 v197522_ex99-1.htm Unassociated Document

UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
     
In re The Penn Traffic Company, et al
  
Case No.   09-14078 (PJW)
                                   Debtors
  
Reporting Period: August 28, 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
  
9/24/10
  
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: August 28, 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: August 28, 2010

In re: The Penn Traffic Company, et al
Debtors
8/1 - 8/28 Total Cash Flow
                                    
($ in thousands)
                          
8/1 - 8/28
    
Cumulative
  
   
8-7-10
    
8-14-10
    
8-21-10
    
8-28-10
    
Total
    
to Date
  
                                     
Cash Receipts:
                                    
                                     
Store Cash
   $ -     $ -     $ -     $ -     $ -     $ 351  
Sales Receipts
     -       -       -       -       -       94,177  
A/R Vendors
     30       178       77       673       958       22,701  
Sale Proceeds
     -       -       -       -       -       86,501  
Topco Dividend
     -       -       -       -       -       -  
Vendor Deposits
     -       -       -       -       -       (1,451 )
Utility Deposits
     -       -       -       -       -       (723 )
Other Receivables
     -       -       -       -       -       101  
Miscellaneous
     -       -       -       -       -       20,299  
Return of GE/Kimco Escrow Funds
     -       -       -       -       -       600  
Disputed Amounts/Litigation
     -       -       -       -       -       -  
LC Collateral and Fees
     -       -       -       -       -       -  
Prepaid Expenses
     -       -       -       -       -       -  
Other Assets
     -       -       -       -       -       156  
Pharmacy
     8       6       8       10       33       42,018  
Funds Transferred Cure Cost Escrow
     -       -       -       -       -       (1,087 )
Funds Transferred Closing Issues Escrow
     -       -       -       -       -       (18 )
Funds Transferred Prof Carve Out Escrow
     -       -       -       -       -       (2,279 )
Total Receipts
     38       184       85       684       991       261,344  
                                                 
Cash Disbursements:
                                                
                                                 
Employee Expenses:
                                                
Store Payroll, Taxes & Benefits
     -       -       -       -       -       27,664  
Corporate Payroll
     14       12       12       37       74       4,358  
Corporate Taxes and Benefits
     9       11       5       21       46       2,206  
Retention
     -       -       -       -       -       -  
Total Payroll, Taxes & Benefits
     23       23       17       57       120       34,228  
                                                 
Operating Expenses:
                                                
Rent/Mortgage
     -       -       -       10       10       3,472  
Utilities
     -       -       -       -       -       3,666  
Supplies
     -       -       -       -       -       267  
Accounts Payable
     34       29       14       37       113       97,651  
401K
     -       -       -       -       -       -  
Insurance Premiums
     -       -       -       -       -       421  
Medical Tail
     0       5       -       2       7       502  
Workmans Comp Claims
     -       -       -       -       -       2,436  
Information Technology
     -       -       -       -       -       -  
Taxes
     -       99       -       -       99       143  
Sales Tax
     -       -       -       -       -       2,681  
Travel
     -       -       0       -       0       7  
Other
     2       -       3       -       5       76,349  
Miscellaneous
     -       -       -       -       -       7,846  
Contingency
     -       -       -       -       -       -  
Total Operating Expenses
     36       133       16       48       234       195,440  
                                                 
Union:
                                                
Medical
     -       -       -       -       -       5,449  
Pension
     -       -       -       -       -       1,161  
Union Claims
     -       -       -       -       -       48  
Total Union Expenses
     -       -       -       -       -       6,658  
                                                 
Bankruptcy Expenses:
                                                
Professional Fees
     79       152       129       -       361       8,578  
UST Fees
     -       -       -       -       -       108  
Claims Agent
     -       -       69       -       69       1,378  
Cure Costs
     -       -       -       -       -       3,194  
Administrative Claims/Other
     -       -       -       -       -       -  
Total Bankruptcy Expenses
     79       152       198       -       429       13,259  
                                                 
Total Disbursements
     139       308       231       106       783       249,585  
                                                 
Net Cash Flows
     (100 )     (124 )     (146 )     578       208       11,759  
 
 
 
 

In re  The Penn Traffic Company, et al
      
Case No. 09-14078 (PJW)
Debtor
  
MOR 1B
  
Reporting Period: August 30, 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    
Donlin Recano
  
7/1/10 - 7/31/10
   68,592.48  
Penn Traffic
  
WIRE8
  
8/18/2010
   63,206.21   5,386.27         1,189,653.35   226,210.36    
                                               
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    
Otterbourg, Steindler, Houston
  
3/1/10 - 5/31/10
  
NA
  
Penn Traffic
  
WIRE3
  
8/3/2010
   80,992.60   -   (1,500.00 )    1,125,138.00   20,915.40    
Otterbourg, Steindler, Houston
  
6/1/10 -6/30/10
   189,507.16  
Penn Traffic
  
WIRE6
  
8/12/2010
   150,245.60   1,700.16         1,275,383.60   22,615.56    
                                               
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    
Stevens & Lee
  
3/1/10 - 5/31/10
  
NA
  
Penn Traffic
  
WIRE9
  
8/18/2010
   7,466.70   -         231,680.80   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    
FTI Consulting
  
12/1/09 - 2/28/10
  
NA
  
Penn Traffic
  
WIRE7
  
8/18/2010
   54,296.30   -         271,481.50   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    
                                               
WDC Solutions, Ltd.
  
7/1/10 - 7/31/10
   67,388.03  
Penn Traffic
  
WIRE10
  
8/23/2010
   50,000.00   17,388.03         50,000.00   17,388.03    
                                               
Total
       9,142,412.62               8,541,630.40   463,939.68   (46,933.25 )             
 
 
 
 

In re The Penn Traffic Company, et al
Case No.    09-14078 (PJW)
Debtors
Reporting Period:   August 28, 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
   $ 8     $ -     $ -           $ -           $ 8  
                                                     
Cost and Operating Expenses
                                                    
Cost of sales
     -       -                                   -  
Selling and administrative expenses
     334       96                             -       431  
Asset impairment charge
     -       -       -       -       -       -       -  
Goodwill impairment charge
     -       -       -       -       -       -       -  
                                                         
Operating Income
     (326 )     (96 )     -       -       -       -       (422 )
                                                         
Interest expense
     122       -       -       -       -       -       122  
Reorganization expense
     295       -       -       -       -       -       295  
                                                         
(Loss) Income from continuing operations before taxes
     (743 )     (96 )     -       -       -       -       (839 )
                                                         
Provision for income taxes
     -       -       -       -       -       -       -  
                                                         
(Loss) Income before loss from discontinued operations, net of tax
     (743 )     (96 )     -       -       -       -       (839 )
                                                         
(Loss) income from discontinued operations, net of tax
     -       -       -       -               -       -  
                                                         
(Loss) Income before extraordinary item
     (743 )     (96 )     -       -       -       -       (839 )
                                                         
Extraordinary item
     -       -       -       -       -       -       -  
                                                         
Net (Loss) Income
   $ (743 )   $ (96 )   $ -     $ -     $ -     $ -     $ (839 )

 
(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.

 
 
 

In re: The Penn Traffic Company, et al
Case No.  09-14078 (PJW)
Debtors
Reporting Period: August 28, 2010
MOR 3
Consolidated Balance Sheet
As of August 28, 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
     38,202       -       -       -       -       -       -       38,202  
Accounts and notes receivables
     10,174       -       -       128       -       -       -       10,302  
Inventories
     -       -       -       -       -       -       -       -  
Prepaid expenses and other current assets
     416       -       -       -       -       -       -       416  
Assets Held for Sale
     -       -       -       -       -       -       -       -  
      48,792       -       -       128       -       -       -       48,920  
                                                                 
Noncurrent Assets:
                                                                
Capital leases
     -       -       -       -       -       -       -       -  
Property, plant and equipment
     -       -       -       -       -       -       -       -  
Goodwill
     -       -       -       -       -       -       -       -  
Intangible assets
     -       -       -       -       -       -       -       -  
Other assets
     32,322       -       -       -       -       -       -       32,322  
      81,114       -       -       128       -       -       -       81,242  
                                                                 
LIABILITIES AND STOCKHOLDERS' EQUITY
                                                                
                                                                 
Current Liabilities:
                                                                
Current portion of obligations under capital leases
     -       -       -       -       -       -       -       -  
Current maturities under long-term debt
     -       -       -       -       -       -       -       -  
Trade account and drafts payables
     -       -       -       -       -       -       -       -  
Other current liabilities
     17,041       -       -       -       -       -       -       17,041  
Accrued interest expense
     -       -       -       -       -       -       -       -  
Deferred income taxes
     -       -       -       -       -       -       -       -  
      17,041       -       -       -       -       -       -       17,041  
                                                                 
Intercompany payables
     -       -       -       -       -       -       -       -  
                                                                 
Noncurrent Liabilities:
                                                                
Obligations under capital leases
     -       -       -       -       -       -       -       -  
Long-term debt
     -       -       -       -       -       -       -       -  
Deferred income taxes
     -       -       -       -       -       -       -       -  
Other noncurrent liabilities
     -       -       -       -       -       -       -       -  
                                                                 
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
     (141,737 )     -       (20 )     127       (2,659 )     (1 )     -       (144,290 )
Accumulated other comprehensive loss
     (270 )     -       -       -       -       -       -       (270 )
Total Stockholders Equity
     (13,745 )     -       -       128       (2,609 )     -       -       (16,226 )
                                                                 
      81,114       -       -       128       -       -       -       81,242  

(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: Aug 28, 2010

MOR 4
Status of Post Petition Taxes
 
   
07/31/10
                            
8/28/10
  
   
Beginning
    
Amount Withheld
    
Amount
    
Date
    
Check No.
    
Ending
  
   
Tax Liability
    
or Accrued
    
Paid
    
Paid
    
or EFT
    
Tax Liability
  
Federal
                                        
Withholding
     (3,751 )     (16,194 )     19,945      
08/16/10
               -  
                                                 
FICA -Employee
     (1,599 )     (7,390 )     39      
08/04/10
               -  
                      58      
08/11/10
                  
                      8,830      
08/16/10
                  
                      29      
08/18/10
                  
                      33      
08/25/10
                  
                                                 
FICA -Employer
     (1,599 )     (7,390 )     39      
08/04/10
               -  
                      58      
08/11/10
                  
                      8,830      
08/16/10
                  
                      29      
08/18/10
                  
                      33      
08/25/10
                  
                                                 
Totals
     (6,949 )     (30,973 )     37,922                       -  
                                                 
Unemployment
     (5,488 )     8       5,480      
08/06/10
               -  
                                                 
Income
                                                
Other
                                                
Total Federal Taxes
     (12,437 )     (30,966 )     43,403                       -  
                                                 
State
                                                
Withholding- PA
     -                                       -  
Withholding- VT
     -               -                       -  
Withholding- NY
     (1,306 )     (3,883 )     2,117      
08/04/10
               -  
                      1,306      
08/11/10
                  
                      886      
08/18/10
                  
                      881      
08/25/10
                  
                                                 
Total State Withholding
     (1,306 )     (3,883 )     5,189                       -  
                                                 
Local Taxes
                                                
Local -EIT
     -                                       -  
Local -LST
     -                                       -  
Total Local Taxes
     -       -       -                       -  
                                                 
Sales
                                                
Sales - NY
     -                                       -  
Sales - PA
     -                                       -  
Sales - OH
     -                                       -  
Sales - VT
     -       -       -                       -  
                                                 
Total Sales Tax
     -       -       -                       -  
                                                 
Excise
                                                
Unemployment - NY
     (23 )     23                               -  
                                                 
Unemployment - PA
     -                                       -  
Unemployment - VT
     -                                       -  
Unemployment - NH
     -                                       -  
Real property
     -                                       -  
Tobacco
     -       -       -                       -  
                                                 
Total Excise
     (23 )     23       -                       -  
                                                 
Other
                                                
Meals and Room - VT
     -       -       -                       -  
                                                 
Meals and Room - NH
     -       -       -                       -  
Mercantile Tax
     -       -       -                       -  
Delaware Franchise Tax
     -       (99,383 )     99,383                       -  
Total Other
     -       (99,383 )     99,383                       -  
                                                 
Total Taxes
     (13,766 )     (134,208 )     147,974                       -  

 
 
 

In re: The Penn Traffic Company et al
Case No. 09-14978 (PJW)
Debtors
Reporting Period: August 28, 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
     0                                       0  
Wages Payable
     14,551                                       14,551  
Taxes Payable
     0                                       0  
Rent/Leases-Building
                                     66,980       66,980  
Rent/Leases-Equipment
                                             0  
Secured Debt/Adequate Protection Payments
                                             0  
Professional Fees
     2,042,576                                       2,042,576  
Amounts Due to Insiders
                                             0  
Other Accrued Liabilities
     416,123                                       416,123  
Other:__________________________
                                             0  
Total Postpetition Debts
     2,473,250       0       0       0       66,980       2,540,230  
 
 
 
 

In re
The Penn Traffic Company
  
Case N09 -14078 (PJW)
 
Debtor
  
Reporting Per August 28, 2010

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING
MOR 5a
 
Accounts Receivable Reconciliation
  
Amount
  
Total Accounts Receivable at the beginning of the reporting period
   $ 11,124,570  
+ Amounts billed during the period (Aged)
        
- Amounts collected during the period (Aged)
   $ 823,977  
- Amounts collected during the period (Not Aged)
   $ 303,467  
+ Amounts billed during the period (Not Aged)
        
Total Accounts Receivable at the end of the reporting period
   $ 9,997,126  
 
Accounts Receivable Aging
  
Amount
  
0 - 30 days old
   $ 23,911  
31 - 90 days old
   $ 19,471  
91 - 180 days old
   $ 1,021,099  
181 - 365 days old
   $ 1,866,341  
365 + days old
   $ (185,779 )
Subtotal Aged Accounts Receivable
   $ 2,745,043  
Accounts Receivable Not Aged
   $ 12,607,113  
Total Accounts Receivable
   $ 15,352,156  
-Amount considered uncollectible (Bad Debt)
   $ 5,355,030  
Accounts Receivable (Net)
   $ 9,997,126  
 
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 August 28, 2010

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING
MOR 5b

Accounts Receivable Reconciliation
  
Amount
  
Total Accounts Receivable at the beginning of the reporting period
   $ 129,289  
+ Amounts billed during the period
   $ -  
- Amounts collected during the period
   $ -  
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
   $ -  
181 - 365 days old
   $ 99,583  
365 + days old
   $ 29,706  
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:
  August 28, 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 August 28, 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
  
9/24/10
Eric J. Sattler
  
Date
VP of Finance and Interim CFO
 
 
               
 
The Penn Traffic Company
            
 
Bank Account Balances
            
           
Actual
  
 
Bank Name
  
A/C#
    
8-28-10
  
1
First Commonwealth Bank
  
4983
       - *
2
Bank of America Business Capital
  
2194
       95,584  
3
Bank of America Business Capital
  
3549
       - *
4
Bank of America Business Capital
  
2204
       25,000  
5
Bank of America Business Capital
  
5976
       -  
6
Banc of America Securities LLC
  
4712
       - *
7
Bank of America Business Capital
  
6956
       (8,723 )
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
       4,740  
12
Bank of America Business Capital
  
2069
       -  
13
HSBC Bank USA, National Association
  
7256
       499,313  
14
HSBC Bank USA, National Association
  
4225
       29  
15
HSBC Bank USA, National Association
  
4439
       303  
16
Bank of America Business Capital
  
2084
       -  
17
Fifth Third Bank
  
4602
       - *
18
Fifth Third Bank
  
4651
       - *
19
Lake Region Bank
  
5136
       - * 
20
Lake Region Bank
  
5224
       - *
21
Lake Region Bank
  
5312
       - *
22
Lake Region Bank
  
5558
       - *
23
HSBC Bank USA, National Association
  
0463
       (20,974 )
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
       37,605,688  
 
Total
           $ 38,200,959  
 
* Bank Account has been closed
 
 
The Penn Traffic Co.
Taxes Paid Through 08/28/2010.
 
   
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    
Taxes Paid through July 31
         81,433.65    
               
Penn Traffic Co.
  
Fed-SS-MED
     78.46  
08/04/10
Penn Traffic Co.
  
Fed-SS-MED
     115.48  
08/11/10
Penn Traffic Co.
  
Fed-SS-MED
     57.58  
08/18/10
Penn Traffic Co.
  
Fed-SS-MED
     66.90  
08/25/10
Penn Traffic Co.
  
Delaware Franchise Tax
     99,382.50  
08/11/10
Penn Traffic Co.
  
FUTA
     5,480.33  
08/06/10
Commander Foods Inc
  
NY Withholding
     2,117.09  
08/04/10
Commander Foods Inc
  
NY Withholding
     1,305.64  
08/11/10
Commander Foods Inc
  
NY Withholding
     885.55  
08/18/10
Commander Foods Inc
  
NY Withholding
     880.71  
08/25/10
Commander Foods Inc
  
Fed-SS-MED
     37,603.79  
08/16/10
               
Taxes Paid Through August 28
         147,974.03    
               
Total Taxes Paid
         16,759,251.56    
 
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