Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - OSH 1 LIQUIDATING Corp | d613174d8k.htm |
Exhibit 99.1
| In re: OSH 1 Liquidating Corporation (f/k/a In re: Orchard Supply Hardware Stores Corporation), et al., | Case No. 13-11565 Reporting Period: August 4 - August 29, 2013 |
UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE
CORPORATE MONTHLY OPERATING REPORT
| Debtor: | Orchard Supply Hardware Stores Corporation, et al.[1] | |||||||
| Case Number: | 13-11565 | |||||||
| Reporting Period: | August 4, 2013 to August 29, 2013 [2] | |||||||
| REQUIRED DOCUMENTS |
Form No. |
Document Attached |
Explanation Attached |
Affidavit/Supplement Attached | ||||
| Schedule of Cash Receipts and Disbursements |
MOR-1 | Yes | ||||||
| Bank Reconciliation (or copies of debtor’s bank reconciliations) [3] |
MOR-1a | Yes | ||||||
| Schedule of Professional Fees Paid |
MOR-1b | Yes | ||||||
| Copies of bank statements |
Exhibit A | Yes | ||||||
| Cash disbursements journals |
Exhibit B | Yes | ||||||
| Statement of Operations |
MOR-2 | Yes | ||||||
| Balance Sheet |
MOR-3 | Yes | ||||||
| Status of Postpetition Taxes |
MOR-4 | Yes | ||||||
| Copies of IRS Form 6123 or payment receipt |
No | Not applicable for reporting period. | ||||||
| Copies of tax returns filed during reporting period |
No | Not applicable for reporting period. | ||||||
| Summary of Unpaid Postpetition Debts |
MOR-4 | Yes | ||||||
| Listing of aged accounts payable |
MOR-4 | Yes | ||||||
| Accounts Receivable Reconciliation and Aging |
MOR-5 | Yes | ||||||
| Debtor Questionnaire |
MOR-6 | Yes | ||||||
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.
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Signature of Debtor |
Date | |||
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Signature of Joint Debtor |
Date | |||
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Signature of Authorized Individual* |
Date | |||
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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. |
Notes:
| [1] | The Debtors are the following three entities (their respective case numbers follow in parentheses): Orchard Supply Hardware Stores Corporation (13-11565), OSH Properties LLC (13-11566), and Orchard Supply Hardware LLC (13-11567). The mailing address of each of the Debtors, solely for purposes of notices and communications, is 6450 Via Del Oro, San Jose, California 95119. |
| [2] | August 29, 2013 is the Debtor’s August fiscal month end. |
| [3] | Global Note – Certain bank accounts were established in the Orchard Supply Hardware Stores Corporation entity for legal purposes but for financial reporting purposes they do not map to legal entities. |
Page 1 or 9
| In re: OSH 1 Liquidating Corporation (f/k/a In re: Orchard Supply Hardware Stores Corporation), et al., | Case No. 13-11565 Reporting Period: August 4 - August 29, 2013 |
SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS
MOR -1
($000)
| Debtor: | Orchard Supply Hardware Stores Corp. |
OSH Properties LLC |
Orchard Supply Hardware, LLC |
Orchard Supply Hardware Stores Corp., et al. | ||||||||||||||||||||||||||||||||||||||||||||||||
| Case Number: | 13-11565 | 13-11566 | 13-11567 | |||||||||||||||||||||||||||||||||||||||||||||||||
| ALLOCATION [1] | BANK ACCOUNTS | |||||||||||||||||||||||||||||||||||||||||||||||||||
| July 7, 2013 - August 29, 2013 |
July 7, 2013 - August 29, 2013 |
July 7, 2013 - August 29, 2013 |
B of A - Money Market Investment |
B of A -Main Concentration [1] |
B of A -Store Depository Concentration |
B of A -AP Checking [3] |
B of A - Payroll Checking |
B of A - Payroll Checking |
B of A - Corporate Depository |
Bank PNC Pinacle- NSF Funding |
WF - AP Funding- Traveling Expenses |
CURRENT MONTH ACTUAL (TOTAL OF ALL ACCOUNTS) |
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| Last 4 Digits of Bank Account: | # 3 BCS | #2794 | #3268 | #6446 | #4222 | #5154 | #0508 | #3422 | #1749 | |||||||||||||||||||||||||||||||||||||||||||
| CASH BEGINNING OF MONTH |
$ | — | $ | 107 | $ | 468 | $ | 77 | $ | 410 | $ | 7 | $ | 15 | $ | 3 | $ | 49 | $ | 1,136 | ||||||||||||||||||||||||||||||||
| RECEIPTS |
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| MERCHANDISE SALES [2] |
$ | — | $ | — | $ | 53,528 | $ | — | $ | 792 | $ | 52,735 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 53,528 | ||||||||||||||||||||||||||
| SALE OF CLOSING STORE INVENTORY |
— | — | — | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
| TENANT IMPROVEMENT REIMBURSEMENTS |
— | — | — | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
| INTER-ACCOUNT TRANSFERS |
— | — | 42,003 | — | — | — | 35,800 | 6,110 | — | — | — | 93 | 42,003 | |||||||||||||||||||||||||||||||||||||||
| REVOLVER BORROWINGS |
49,950 | — | — | — | 49,950 | — | — | — | — | — | — | 49,950 | ||||||||||||||||||||||||||||||||||||||||
| OTHER |
351 | — | 6,549 | — | 351 | — | 129 | — | 6,420 | — | — | 6,899 | ||||||||||||||||||||||||||||||||||||||||
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| TOTAL RECEIPTS |
$ | 50,301 | $ | — | $ | 102,079 | $ | — | $ | 51,093 | $ | 52,735 | $ | 35,929 | $ | 6,110 | $ | — | $ | 6,420 | $ | — | $ | 93 | $ | 152,380 | ||||||||||||||||||||||||||
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| DISBURSEMENTS |
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| INTER-ACCOUNT TRANSFERS |
$ | 41,910 | $ | — | $ | — | $ | — | $ | 41,910 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 41,910 | ||||||||||||||||||||||||||
| REVOLVER PAYDOWNS |
— | — | 58,603 | — | — | 52,697 | — | — | — | 5,906 | — | — | 58,603 | |||||||||||||||||||||||||||||||||||||||
| PAYMENT TO GREAT AMERICAN |
— | — | 4,223 | — | — | — | 4,223 | — | — | — | — | — | 4,223 | |||||||||||||||||||||||||||||||||||||||
| MERCHANDISE |
— | — | 17,295 | — | — | — | 17,295 | — | — | — | — | — | 17,295 | |||||||||||||||||||||||||||||||||||||||
| FREIGHT |
— | — | 1,875 | — | — | — | 1,875 | — | — | — | — | — | 1,875 | |||||||||||||||||||||||||||||||||||||||
| PAYROLL & BENEFITS |
35 | — | 5,964 | — | 35 | — | — | 5,964 | — | — | — | — | 6,000 | |||||||||||||||||||||||||||||||||||||||
| RENT |
— | — | 64 | — | — | — | 64 | — | — | — | — | — | 64 | |||||||||||||||||||||||||||||||||||||||
| REAL ESTATE TAXES |
— | — | 25 | — | — | — | 25 | — | — | — | — | — | 25 | |||||||||||||||||||||||||||||||||||||||
| OTHER OCCUPANCY |
— | — | 712 | — | — | — | 712 | — | — | — | — | — | 712 | |||||||||||||||||||||||||||||||||||||||
| SALES, USE, & OTHER TAXES |
4,958 | — | — | — | 4,958 | — | — | — | — | — | — | — | 4,958 | |||||||||||||||||||||||||||||||||||||||
| SELLING (STORES) |
— | — | 767 | — | — | — | 767 | — | — | — | — | — | 767 | |||||||||||||||||||||||||||||||||||||||
| INSURANCE (STORES) |
— | — | 45 | — | — | — | 45 | — | — | — | — | — | 45 | |||||||||||||||||||||||||||||||||||||||
| ADVERTISING |
— | — | 1,711 | — | — | — | 1,711 | — | — | — | — | — | 1,711 | |||||||||||||||||||||||||||||||||||||||
| G&A / OTHER OPERATING |
3,025 | — | 3,561 | — | 3,025 | — | 3,451 | — | — | — | — | 111 | 6,587 | |||||||||||||||||||||||||||||||||||||||
| PROFESSIONAL FEES |
— | — | 1,066 | — | — | — | 1,066 | — | — | — | — | — | 1,066 | |||||||||||||||||||||||||||||||||||||||
| CAPITAL EXPENDITURES |
— | — | 362 | — | — | — | 362 | — | — | — | — | — | 362 | |||||||||||||||||||||||||||||||||||||||
| INTEREST |
— | — | — | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||
| OUTSTANDING CHECKS [3] |
— | — | 2,045 | — | — | — | 2,045 | — | — | — | — | — | 2,045 | |||||||||||||||||||||||||||||||||||||||
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| TOTAL DISBURSEMENTS |
$ | 49,928 | $ | — | $ | 98,319 | $ | — | $ | 49,928 | $ | 52,697 | $ | 33,641 | $ | 5,964 | $ | — | $ | 5,906 | $ | — | $ | 111 | $ | 148,247 | ||||||||||||||||||||||||||
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| NET CASH FLOW (RECEIPTS LESS DISBURSEMENTS |
$ | 372 | $ | — | $ | 3,760 | $ | — | $ | 1,165 | $ | 38 | $ | 2,288 | $ | 145 | $ | — | $ | 514 | $ | — | $ | (17 | ) | $ | 4,132 | |||||||||||||||||||||||||
| CASH – END OF MONTH |
$ | — | $ | 1,272 | $ | 506 | $ | 2,365 | $ | 555 | $ | 7 | $ | 529 | $ | 3 | $ | 31 | $ | 5,268 | ||||||||||||||||||||||||||||||||
| [4 | ] | |||||||||||||||||||||||||||||||||||||||||||||||||||
| DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE |
OSH Stores Corp. (13-11565) |
OSH Properties, LLC (13-11566) |
OSH LLC (13-11567) | TOTAL | ||||||||||||
| TOTAL DISBURSEMENTS |
$ | 49,928 | $ | — | $ | 98,319 | $ | 148,247 | ||||||||
| Less: Transfers to Debtor In Possession Accounts |
$ | (41,910 | ) | $ | — | $ | — | $ | (41,910 | ) | ||||||
| Plus: Estate Disbursements Made by Outside Sources (i.e. from escrow accounts) |
$ | — | $ | — | $ | — | $ | — | ||||||||
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| TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES |
$ | 8,019 | $ | — | $ | 98,319 | $ | 106,338 | ||||||||
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Note:
| [1] | The Main Concentration account is owned by Orchard Supply Hardware Stores Corp. All other bank accounts are owned by Orchard Supply Hardware, LLC. |
| [2] | Includes sales tax receipts and proceeds from 8 stores GOB for the period 8/4 to 8/29. All merchandise sales belong to Orchard Supply Hardware, LLC. |
| [3] | The disbursements listed for the AP Checking account is on a check-cut basis. |
| [4] | Excludes Utility deposit of $233K in BOA#5183 required for bankruptcy court order. |
Page 2 or 9
| In re: OSH 1 Liquidating Corporation (f/k/a In re: Orchard Supply Hardware Stores Corporation), et al., | Case No. 13-11565 Reporting Period: August 4 - August 29, 2013 |
BANK RECONCILIATIONS
MOR-1a
($000)
| Debtor: | Orchard Supply Hardware Stores Corporation, et al. | |||||||||||||||||||||||||||||||||||||||||||||
| Case Number: | 13-11565 | |||||||||||||||||||||||||||||||||||||||||||||
| B of A -Money Market Investment # 3 BCS |
B of A - Main Concentration [1] #2794 |
B of A - Store Depository Concentration #3268 |
B of A -AP Checking #6446 |
B of A - Payroll Checking #4222 |
B of A - Payroll Checking #5154 |
B of A - Corporate Depository #0508 |
Bank PNC Pinacle-NSF Funding #3422 |
WF - AP Funding- Traveling Expenses #1749 |
Cash at stores | Total [3][4] | ||||||||||||||||||||||||||||||||||||
| BALANCE PER BOOKS |
$ | — | $ | 1,932 | $ | 1,244 | $ | 1,558 | $ | 438 | $ | 7 | $ | 529 | $ | 3 | $ | 21 | $ | 753 | $ | 6,485 | ||||||||||||||||||||||||
| BANK BALANCE [2] |
$ | — | $ | 1,272 | $ | 506 | $ | 2,365 | $ | 555 | $ | 7 | $ | 529 | $ | 3 | $ | 31 | $ | 0 | 5,268 | |||||||||||||||||||||||||
| (+) DEPOSITS IN TRANSIT: |
— | 660 | 738 | 99 | — | — | — | — | — | — | 1,497 | |||||||||||||||||||||||||||||||||||
| (-) OUTSTANDING CHECKS: |
— | — | — | (917 | ) | (142 | ) | — | — | — | (10 | ) | — | (1,069 | ) | |||||||||||||||||||||||||||||||
| OTHER: |
— | — | — | — | 24 | — | — | — | — | — | 24 | |||||||||||||||||||||||||||||||||||
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| ADJUSTED BANK BALANCE |
$ | — | $ | 1,932 | $ | 1,244 | $ | 1,547 | $ | 437 | $ | 7 | $ | 529 | $ | 3 | $ | 22 | $ | 0 | $ | 5,720 | ||||||||||||||||||||||||
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Note:
| [1] | The Main Concentration account is owned by Orchard Supply Hardware Stores Corp. All other bank accounts are owned by Orchard Supply Hardware, LLC. The two payroll accounts are consolidated into one account on the Company’s books. |
| [2] | Ending cash balance from previous page. |
| [3] | Excludes Utility deposit of $233K in BOA#5183 required for bankruptcy court order. |
| [4] |
Total cash balance per books | $ | 6,485 | |||
| Credit Card receivable |
$ | 4,570 | ||||
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| Cash per Balance Sheet |
$ | 11,055 | ||||
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Page 3 or 9
| In re: OSH 1 Liquidating Corporation (f/k/a In re: Orchard Supply Hardware Stores Corporation), et al., | Case No. 13-11565 Reporting Period: August 4 - August 29, 2013 |
SCHEDULE OF PROFESSIONAL FEES PAID
MOR -1b
($000)
| Debtor: | Orchard Supply Hardware Stores Corporation, et al. | |
| Case Number: | 13-11565 |
| Amount | Check |
Amount Paid | Year-To-Date | |||||||||||||||||||||||||
| Payee |
Period Covered |
Approved | Payor |
Number |
Date |
Fees | Expenses | Fees | Expenses | |||||||||||||||||||
| BMC Group, Inc. |
6/1/13 to 7/31/13 | $ | 237 | Orchard Supply Hardware, LLC | Wire Transfer | 8/5/2013 | $ | 67 | $ | 170 | $ | 67 | $ | 170 | ||||||||||||||
| Dechert LLP |
6/17/13 to 8/20/13 | 370 | Orchard Supply Hardware, LLC | Wire Transfer | 8/29/2013 | 361 | 9 | 362 | 14 | |||||||||||||||||||
| DLA Piper LLP |
6/17/13 to 6/30/13 | 279 | Orchard Supply Hardware, LLC | Wire Transfer | 8/21/2013 | 278 | 1 | 278 | 1 | |||||||||||||||||||
| Young Conaway Stargatt Taylor |
5/17/13 to 8/25/13 | 61 | Orchard Supply Hardware, LLC | ACH | 8/27/2013 | 56 | 5 | 56 | 5 | |||||||||||||||||||
| Zolfo Cooper |
8/1/13 to 8/31/13 | 119 | Orchard Supply Hardware, LLC | Wire Transfer | 8/27/2013 | 100 | 19 | 200 | 26 | |||||||||||||||||||
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| Total $ Paid: | $ | 1,066 | ||||||||||||||||||||||||||
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| Note: | All professional fees are paid out of the Bank Of America AP Checking Account |
Page 4 or 9
| In re: OSH 1 Liquidating Corporation (f/k/a In re: Orchard Supply Hardware Stores Corporation), et al., | Case No. 13-11565 Reporting Period: August 4 - August 29, 2013 |
UNAUDITED STATEMENT OF OPERATIONS
FOR THE 4 WEEKS ENDED August 29, 2013
( In thousands)
| 4 Weeks Ended | ||||||||||||||||
| August 29, 2013 | ||||||||||||||||
| Orchard Supply | ||||||||||||||||
| OSH Properties | Hardware Stores | |||||||||||||||
| OSH LLC | LLC | Eliminations | Corp. | |||||||||||||
| REVENUES |
$ | 38,923 | $ | 268 | $ | (268 | ) | $ | 38,923 | |||||||
| COSTS AND EXPENSES: |
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| Cost of sales |
30,995 | 105 | (268 | ) | 30,833 | |||||||||||
| Selling and administrative |
25,155 | 1,532 | 26,687 | |||||||||||||
| Depreciation and amortization |
1,472 | 106 | 1,578 | |||||||||||||
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| Total operating costs and expenses |
57,622 | 1,743 | (268 | ) | 59,097 | |||||||||||
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| OPERATING (LOSS) INCOME |
(18,699 | ) | (1,475 | ) | — | (20,174 | ) | |||||||||
| INTEREST EXPENSE |
1,435 | — | — | 1,435 | ||||||||||||
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| (LOSS) INCOME BEFORE INCOME TAX |
(20,134 | ) | (1,475 | ) | — | (21,609 | ) | |||||||||
| INCOME TAX (BENEFIT) EXPENSE |
— | — | — | |||||||||||||
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| NET (LOSS) INCOME |
$ | (20,134 | ) | $ | (1,475 | ) | $ | — | $ | (21,609 | ) | |||||
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Page 5 or 9
| In re: OSH 1 Liquidating Corporation (f/k/a In re: Orchard Supply Hardware Stores Corporation), et al., | Case No. 13-11565 Reporting Period: August 4 - August 29, 2013 |
UNAUDITED BALANCE SHEETS
AS OF August 29, 2013
(In thousands)
| August 29, 2013 | ||||||||||||||||
| OSH Properties | ||||||||||||||||
| OSH Stores Corp. | OSH LLC | LLC | Consolidated | |||||||||||||
| ASSETS |
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| CURRENT ASSETS: |
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| Cash and cash equivalents |
$ | — | $ | 882 | $ | 7,646 | $ | 8,528 | ||||||||
| Merchandise inventories |
— | 160,728 | — | 160,728 | ||||||||||||
| Income tax receivable |
— | 878 | 2,659 | 3,537 | ||||||||||||
| Deferred income taxes |
— | 1,658 | — | 1,658 | ||||||||||||
| Prepaid expenses and other current assets |
— | 30,906 | — | 30,906 | ||||||||||||
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| Total current assets |
— | 195,052 | 10,305 | 205,357 | ||||||||||||
| PROPERTY AND EQUIPMENT - Net |
— | 141,579 | 20,005 | 161,584 | ||||||||||||
| OTHER INTANGIBLE ASSETS |
— | 23,650 | 1,103 | 24,753 | ||||||||||||
| DEFERRED FINANCING COSTS, NET |
— | 4,410 | — | 4,410 | ||||||||||||
| OTHER LONG TERM ASSETS |
— | — | — | — | ||||||||||||
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| TOTAL |
$ | — | $ | 364,691 | $ | 31,413 | $ | 396,104 | ||||||||
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| LIABILITIES AND STOCKHOLDERS’ EQUITY |
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| CURRENT LIABILITIES: |
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| Merchandise payables |
$ | — | $ | 23,674 | $ | — | $ | 23,674 | ||||||||
| Accrued expenses and other liabilities |
— | 49,114 | — | 49,114 | ||||||||||||
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| Current liabilities not subject to compromise |
— | 72,788 | — | 72,788 | ||||||||||||
| Merchandise payables |
— | 37,838 | — | 37,838 | ||||||||||||
| Current portion of long-term debt and capital lease obligations |
— | 210,824 | — | 210,824 | ||||||||||||
| Accrued expenses and other liabilities |
— | 22,726 | — | 22,726 | ||||||||||||
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| Current liabilities subject to compromise |
— | 271,388 | — | 271,388 | ||||||||||||
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| Total current liabilities |
— | 344,176 | — | 344,176 | ||||||||||||
| LONG-TERM DEBT AND CAPITAL LEASE OBLIGATIONS |
— | 43,309 | — | 43,309 | ||||||||||||
| LONG-TERM DEPOSITS FROM SALE OF REAL ESTATE |
— | 40,665 | — | 40,665 | ||||||||||||
| OTHER LONG-TERM LIABILITIES |
— | 44,594 | 1,266 | 45,860 | ||||||||||||
| DEFERRED INCOME TAXES |
— | (20,836 | ) | 27,926 | 7,090 | |||||||||||
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| Total liabilities |
— | 451,908 | 29,192 | 481,100 | ||||||||||||
| STOCKHOLDERS’ EQUITY |
— | (87,217 | ) | 2,221 | (84,996 | ) | ||||||||||
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| TOTAL |
$ | — | $ | 364,692 | $ | 31,412 | $ | 396,104 | ||||||||
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Page 6 or 9
| In re: OSH 1 Liquidating Corporation (f/k/a In re: Orchard Supply Hardware Stores Corporation), et al., | Case No. 13-11565 Reporting Period: August 4 - August 29, 2013 |
STATUS OF POST-PETITION TAXES
MOR - 4
($000)
| Debtor: | Orchard Supply Hardware Stores Corporation, et al. | |||||||||||||||||||||||
| Case Number: | 13-11565 | |||||||||||||||||||||||
| Federal |
Beginning Tax |
Amount Withheld and/or Accrued |
Amount Paid | Date Paid | Check # or EFT |
Ending Tax | ||||||||||||||||||
| Withholding [1] |
$ | 179 | $ | 337 | $ | 380 | — | — | $ | 136 | ||||||||||||||
| FICA-Employee [1] |
147 | 256 | 297 | — | — | 106 | ||||||||||||||||||
| FICA-Employer [1] |
146 | 403 | 443 | — | — | 106 | ||||||||||||||||||
| Unemployment |
3 | 6 | 7 | — | — | 2 | ||||||||||||||||||
| Income |
— | — | — | — | — | — | ||||||||||||||||||
| Other |
— | — | — | — | — | — | ||||||||||||||||||
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| Total Federal Taxes [1] |
$ | 474 | $ | 1,002 | $ | 1,127 | — | — | $ | 349 | ||||||||||||||
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| State and Local | ||||||||||||||||||||||||
| Withholding [1] |
65 | 52 | 68 | — | — | 49 | ||||||||||||||||||
| Sales/Use |
4,301 | 5,001 | 4,958 | — | — | 4,343 | ||||||||||||||||||
| Unemployment |
20 | 43 | 51 | — | — | 12 | ||||||||||||||||||
| Real Property |
1,665 | 533 | 131 | — | — | 2,068 | ||||||||||||||||||
| Personal Property |
190 | 53 | 39 | — | — | 205 | ||||||||||||||||||
| CA Employment Training Fund [1] |
0 | 1 | 1 | — | — | 0 | ||||||||||||||||||
| Tri County Metro District Tax [1] |
0 | 1 | 1 | — | — | 0 | ||||||||||||||||||
| Oregon State Workers Comp [1] |
0 | 0 | 0 | — | — | 0 | ||||||||||||||||||
| Total State and Local |
$ | 6,242 | $ | 5,684 | $ | 5,248 | — | — | $ | 6,678 | ||||||||||||||
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| Total Taxes |
$ | 6,716 | $ | 6,686 | $ | 6,375 | — | — | $ | 7,027 | ||||||||||||||
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| [1] | Payroll taxes are totals from two payroll tax payment made during the fiscal month of August. Payroll accounts are owned by Orchard Supply Hardware, LLC. |
| LISTING OF AGED POST-PETITION | Orchard Supply Hardware Stores Corporation, et al. | |||||||||||||||||||
| ACCOUNTS PAYABLE | 13-11565 | |||||||||||||||||||
| ($000) | ||||||||||||||||||||
| Number of Days Past Due | ||||||||||||||||||||
| Current | 31-60 | 61-90 | Over 91 | Total | ||||||||||||||||
| Accounts Payable |
$ | 7,961 | $ | — | $ | — | $ | — | $ | 7,961 | ||||||||||
| Wages Payable |
— | — | — | — | — | |||||||||||||||
| Taxes Payable |
7,027 | — | — | — | 7,027 | |||||||||||||||
| Rent/Leases-Building |
— | — | — | — | — | |||||||||||||||
| Rent/Leases-Equipment |
— | — | — | — | — | |||||||||||||||
| Secured Debt/Adequate Protection Payments |
— | — | — | — | — | |||||||||||||||
| Professional Fees |
— | — | — | — | — | |||||||||||||||
| Amounts Due to Insiders |
— | — | — | — | — | |||||||||||||||
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| Total Post-petition Debts |
$ | 14,988 | $ | — | $ | — | $ | — | $ | 14,988 | ||||||||||
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| In re: OSH 1 Liquidating Corporation (f/k/a In re: Orchard Supply Hardware Stores Corporation), et al., | Case No. 13-11565 Reporting Period: August 4 - August 29, 2013 |
ACCOUNTS RECEIVABLE RECONCILIATION AND AGING
MOR - 5
($000)
| Debtor: | Orchard Supply Hardware Stores Corporation, et al. | |
| Business unit number: | 13-11565 |
| Accounts Receivable Reconciliation |
Amount | |||
| Total Accounts Receivable at the beginning of the reporting period |
$ | 8,206 | ||
| Plus: Amounts billed during the period |
50,962 | |||
| Less: Amounts collected during the period |
51,946 | |||
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| Total Accounts Receivable at the end of the reporting period |
$ | 7,223 | ||
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| Accounts Receivable Aging |
0-30 Days | 31-60 Days | 61-90 Days | 91+ Days | Total | |||||||||||||||
| 0 - 30 days old |
$ | 7,223 | $ | — | $ | — | $ | — | $ | 7,223 | ||||||||||
| 31 - 60 days old |
— | — | — | — | — | |||||||||||||||
| 61 - 90 days old |
— | — | — | — | — | |||||||||||||||
| 91+ days old |
— | — | — | — | — | |||||||||||||||
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| Total Accounts Receivable |
$ | 7,223 | $ | — | $ | — | $ | — | $ | 7,223 | ||||||||||
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| Less: Bad Debts (Amount considered uncollectible) |
— | — | — | — | — | |||||||||||||||
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| Net Accounts Receivable |
$ | 7,223 | $ | — | $ | — | $ | — | $ | 7,223 | ||||||||||
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| Note: | Includes credit card receivables. |
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| In re: OSH 1 Liquidating Corporation (f/k/a In re: Orchard Supply Hardware Stores Corporation), et al., | Case No. 13-11565 Reporting Period: August 4 - August 29, 2013 |
DEBTOR QUESTIONNAIRE
MOR - 6
| Must be completed each month. |
Yes |
No |
Notes: | |||
| 1. Have any assets been sold or transferred outside the normal course of business this reporting period? If yes, provide an explanation below. | X | 9 GOB stores inventory sold to Great American in month of August. | ||||
| 2. Have any funds been disbursed from any account other than a debtor in possession account this reporting period? If yes, provide an explanation below. | X | |||||
| 3. Have all post petition 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 | Bank of America account # XXXXXX3685 opened in the reporting period to receive funds from sales transaction. Email confirmation available upon request. | ||||
| Note: | This Questionnaire covers Orchard Supply Hardware Stores Corp., OSH Properties, LLC and Orchard Supply Hardware, LLC. |
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