Attached files
| file | filename |
|---|---|
| 8-K - 8-K - ARO Liquidation, Inc. | form8k.htm |
Exhibit 99.1
UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK
|
In re
|
Aéropostale, Inc., et al.
|
Case No.
|
16-11275 | ||
|
Debtors
|
Reporting Period:
|
4/2/17 - 4/29/17
|
|||
|
Federal Tax I.D. #
|
31-1443880 |
CORPORATE MONTHLY OPERATING REPORT
|
REQUIRED DOCUMENTS
|
Form No.
|
Document
Attached
|
Explanation
Attached
|
|
Schedule of Cash Receipts and Disbursements
|
MOR-1
|
Yes
|
|
|
Bank Reconciliation
|
MOR-1 (CON'T)
|
Yes
|
|
|
Copies of bank statements
|
Yes
|
||
|
Cash disbursements journals
|
Yes
|
||
|
Statement of Operations Consolidated
|
MOR-2
|
Yes
|
|
|
Statement of Operations by Legal Entity
|
MOR-2 (CON'T)
|
Yes
|
|
|
Balance Sheet Consolidated
|
MOR-3
|
Yes
|
|
|
Balance Sheet by Legal Entity
|
MOR-3 (CON'T)
|
Yes
|
|
|
Statement of Cash Flows
|
MOR-3 CASH FLOW
|
Yes
|
|
|
Status of Post-petition Taxes
|
MOR-4
|
Yes
|
|
|
Copies of IRS Form 6123 or payment receipt
|
N/A
|
||
|
Copies of tax returns filed during reporting period
|
N/A
|
||
|
Summary of Unpaid Post-petition Debts
|
MOR-4
|
Yes
|
|
|
Listing of Aged Accounts Payable
|
Yes
|
||
|
Post Petition Status of Secured Notes, Leases Payable
|
MOR-4
|
Yes
|
|
|
Accounts Receivable Reconciliation and Aging
|
MOR-5
|
Yes
|
|
|
Taxes Reconciliation and Aging
|
MOR-5
|
Yes
|
|
|
Payments to Insiders and Professional
|
MOR-6
|
Yes
|
|
|
Debtor Questionnaire
|
MOR-7
|
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.
|
/s/ William A. Brandt, Jr.
|
Date 06/02/17
|
|
|
Signature of Authorized Individual
|
||
|
WILLIAM A. BRANDT, JR.
|
Date 06/02/17
|
|
|
Printed Name of Authorized Individual
|
||
|
In re
|
Aéropostale, Inc., et al.
|
Case No.
|
16-11275
|
||
|
Debtors
|
Reporting Period:
|
4/2/17 - 4/29/17
|
Disbursements for the period 4/2/2017 through 4/29/2017
|
MOR-1
|
|
|
($ in 000's)
|
|
Case
|
Debtor
|
Total for
Reporting Period
|
Quarter to Date
|
|||||||
|
16-11275
|
Aéropostale, Inc.
|
$ |
4,931
|
$ |
4,931
|
|||||
|
16-11276
|
Aéropostale Procurement Co, Inc.
|
$ |
1,502
|
$ |
1,502
|
|||||
|
16-11277
|
Aéropostale West, Inc.
|
$ |
0
|
$ |
0
|
|||||
|
16-11278
|
Jimmy'Z Surf Co. LLC
|
$ |
0
|
$ |
0
|
|||||
|
16-11279
|
Aéro GC Management LLC
|
$ |
0
|
$ |
0
|
|||||
|
16-11280
|
Aéropostale Licensing, Inc.
|
$ |
0
|
$ |
0
|
|||||
|
16-11281
|
GoJane LLC
|
$ |
0
|
$ |
0
|
|||||
|
16-11282
|
P.S. from Aéropostale, Inc.
|
$ |
0
|
$ |
0
|
|||||
|
16-11283
|
Aéropostale Puerto Rico, Inc.
|
$ |
4
|
$ |
4
|
|||||
|
16-11285
|
Aéropostale Holdings, Inc.
|
$ |
0
|
$ |
0
|
|||||
|
$6,437
|
$6,437
|
Note: A portion of the disbursements from certain Debtors may be subject to allocations to, or reimbursement from, other Debtors.
|
In re
|
Aéropostale, Inc., et al.
|
Case No:
|
Case No. 16-11275
|
||
|
Debtors
|
Reporting Period:
|
4/2/17 - 4/29/17
|
Bank Account Reconciliations
|
MOR-1
|
|
(Unaudited)
|
|
Case No.
|
Debtor
|
Bank Name
|
Account No.
|
Bank Balance 4/29/17
|
GL Balance 4/29/17 | |||||||||
|
16-11275
|
Aéropostale Inc.
|
Bank of America Utility Deposits
|
***0747
|
415,567.00
|
24,461,559.60
|
|||||||||
|
16-11275
|
Aéropostale Inc.
|
Bank of America Texas Escrow
|
***7404
|
167,565.77
|
||||||||||
|
16-11275
|
Aéropostale Inc.
|
Bank of America FFE
|
***7572
|
0.00
|
||||||||||
|
16-11275
|
Aéropostale Inc.
|
Bank of America Profesional Fees Acquisition
|
***7857
|
0.00
|
||||||||||
|
16-11275
|
Aéropostale Inc.
|
Bank of America Concentration Reconciliation
|
***8175
|
0.00
|
||||||||||
|
16-11275
|
Aéropostale Inc.
|
Sterling Bank - Operating Account
|
***2034
|
19,661.37
|
||||||||||
|
16-11275
|
Aéropostale Inc.
|
Sterling Bank - Money Market
|
***2210
|
23,856,995.71
|
||||||||||
|
16-11275
|
Aéropostale Inc.
|
Sterling Bank - Professional Fees
|
***2173
|
7,258,924.54
|
7,258,899.54
|
|||||||||
|
16-11276
|
Aéropostale Inc.
|
Wells Fargo - Zumiez Escrow
|
***7900
|
956,965.93
|
954,220.56
|
|||||||||
|
16-11277
|
Aéropostale Inc.
|
Citibank
|
***1768
|
0.00
|
0.00
|
|||||||||
|
16-11278
|
Aéropostale Inc.
|
Citibank
|
***2768
|
0.00
|
0.00
|
|||||||||
|
Corporate Account Subtotal Cash and Cash Equivalents
|
$ |
32,675,680.32
|
$ |
32,674,679.70
|
||||||||||
(a) The general ledger balance is comprised of the general ledger balances for bank account #0747, #7404, #7572, #7857, #8175, #2034 and #2210. Any difference between the bank balances and the general ledger balance is due to reconciling items.
|
All bank accounts are reconciled each period when statements are received. Difference between the GL and bank balances are either outstanding checks or reconciling items typically cleared in the following period. Copies of disbursement journals and reconciliations are not attached to this Monthly Operating Report; however, the Debtors will provide further information to the U.S. Trustee upon request.
|
|
In re
|
Aéropostale, Inc., et al.
|
Case No.
|
16-11275
|
||
|
Debtors
|
Reporting Period:
|
4/2/17 - 4/29/17
|
CONSOLIDATED STATEMENT OF OPERATIONS (Income Statement)
|
MOR-2
|
|
|
(Unaudited - $ in 000's)
|
|
|
Net sales
|
$ 2
|
|
Cost of sales (including certain buying, occupancy and warehousing expenses)
|
(4,569)
|
|
Gross profit
|
4,571
|
|
Selling, general and administrative expenses
|
656
|
|
Profit (Loss) from operations
|
3,915
|
|
Interest expense
|
252
|
|
Profit (Loss) before income taxes
|
3,663
|
|
Income tax expense
|
54
|
|
Net income (loss)
|
$ 3,609
|
|
In re
|
Aéropostale, Inc., et al.
|
Case No.
|
16-11275
|
||
|
Debtors
|
Reporting Period:
|
4/2/17 - 4/29/17
|
STATEMENT OF OPERATIONS BY LEGAL ENTITY (Income Statement)
MOR-2
(Unaudited - $ in 000's)
|
Aéropostale, Inc.
|
Aero GC
Management
LLC
|
Aéropostale West
|
Aéropostale
Puerto Rico
|
PS from
Aéropostale
|
Aéropostale Procurement
Co.
|
Jimmy'Z Surf Co., LLC
|
Aéropostale Licensing
|
GoJane LLC
|
Aéropostale
Holdings
|
Elimination
Company (a)
|
Consolidated
U.S. Companies
|
|||||||||||||||||||||||||||||||||||||
|
1
|
2
|
3
|
4
|
5
|
6
|
7
|
9
|
10
|
78
|
98
|
||||||||||||||||||||||||||||||||||||||
|
Net sales
|
$ |
-
|
$ |
-
|
$ |
-
|
$ |
-
|
$ |
-
|
$ |
-
|
$ |
-
|
$ |
2
|
$ |
-
|
$ |
-
|
$ |
-
|
$ |
2
|
||||||||||||||||||||||||
|
Cost of sales (including certain buying, occupancy and warehousing expenses)
|
(1,808)
|
0
|
(19)
|
1
|
0
|
(2,841)
|
0
|
105
|
(8)
|
0
|
0
|
$ |
(4,569)
|
|||||||||||||||||||||||||||||||||||
|
Gross profit
|
1,808
|
0
|
19
|
(1)
|
(0)
|
2,841
|
0
|
(103)
|
8
|
0
|
0
|
$ |
4,571
|
|||||||||||||||||||||||||||||||||||
|
Selling, general and administrative expenses
|
481
|
285
|
0
|
0
|
0
|
(116)
|
0
|
5
|
0
|
0
|
0
|
$ |
656
|
|||||||||||||||||||||||||||||||||||
|
Profit (Loss) from operations
|
1,326
|
(285)
|
19
|
(1)
|
(1)
|
2,957
|
0
|
(108)
|
8
|
0
|
0
|
$ |
3,915
|
|||||||||||||||||||||||||||||||||||
|
Interest expense
|
252
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
$ |
252
|
|||||||||||||||||||||||||||||||||||
|
Profit (Loss) before income taxes
|
1,074
|
(285)
|
19
|
(1)
|
(1)
|
2,957
|
0
|
(108)
|
8
|
0
|
0
|
$ |
3,663
|
|||||||||||||||||||||||||||||||||||
|
Income tax expense
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
54
|
0
|
0
|
0
|
$ |
54
|
|||||||||||||||||||||||||||||||||||
|
Net income (loss)
|
$ |
1,074
|
$ |
(285)
|
$ |
19
|
$ |
(1)
|
$ |
(1)
|
$ |
2,957
|
$ |
-
|
$ |
(162)
|
$ | 8 | $ |
-
|
$ |
-
|
$ |
3,609
|
||||||||||||||||||||||||
| (a) |
Elimination Company is not a legal entity. It is included in the balance sheet to reflect entries to eliminate intercompany transactions to produce accurate consolidated financial statements.
|
|
In re
|
Aéropostale, Inc., et al.
|
Case No.
|
16-11275
|
||
|
Debtors
|
Reporting Period:
|
4/2/17 - 4/29/17
|
|
BALANCE SHEET
|
MOR-3
(Unaudited - $ in 000's)
|
ASSETS
|
||||
|
CURRENT ASSETS
|
||||
|
Cash and Cash Equivalents
|
$ |
31,931
|
||
|
Merchandise Inventory
|
(9)
|
|||
|
Prepaid Expenses
|
9,731
|
|||
|
Tax Refunds Receivable
|
3,474
|
|||
|
Other Current Assets
|
5,297
|
|||
|
TOTAL CURRENT ASSETS
|
$ |
50,424
|
||
|
Fixtures, Equipment & Improvements
|
(17)
|
|||
|
Intangibles
|
21,762
|
|||
|
Investment in Subsidiary
|
301,900
|
|||
|
Restricted Cash Non-Current
|
-
|
|||
|
Deferred Financing
|
3,398
|
|||
|
Other Assets
|
1,590
|
|||
|
TOTAL ASSETS
|
$ |
379,056
|
||
|
LIABILITIES & SHAREHOLDERS' EQUITY
|
||||
|
CURRENT LIABILITIES
|
||||
|
Accounts Payable
|
$ |
43,022
|
||
|
Accrued Expense
|
81,998
|
|||
|
Current Loan Payable
|
49,345
|
|||
|
Crystal Loan Payble
|
-
|
|||
|
Intercompany
|
(1,818)
|
|||
|
TOTAL CURRENT LIABILITIES
|
$ |
172,547
|
||
|
Deferred Rent,Tenant Allowance
|
1,513
|
|||
|
Retirement Benefit Plan Liability
|
6,357
|
|||
|
Uncertain Tax Liability Reserves
|
2,093
|
|||
|
Unearned Vendor Rebate
|
9,479
|
|||
|
Other Non Current Liabilities
|
22,875
|
|||
|
Non-Current Loan Payable
|
-
|
|||
|
TOTAL LIABILTIES
|
$ |
214,863
|
||
|
SHAREHOLDERS' EQUITY
|
||||
|
Common Stock
|
$ 817
|
|||
|
Additional Paid-in-Capital
|
467,712
|
|||
|
Other Comprehensive Income
|
1,190
|
|||
|
Retained Earnings
|
(301,760)
|
|||
|
Treasury Stock
|
(3,765)
|
|||
|
TOTAL SHAREHOLDERS' EQUITY
|
$ |
164,193
|
||
|
TOTAL LIABILTIES & SHAREHOLDER EQUITY
|
$ |
379,056
|
|
In re
|
Aéropostale, Inc., et al.
|
Case No.
|
16-11275
|
||
|
Debtors
|
Reporting Period:
|
4/2/17 - 4/29/17
|
BALANCE SHEET
MOR-3
(Unaudited - $ in 000's)
|
Aéropostale,
Inc.
|
Aero GC
Management LLC
|
Aéropostale
West
|
Aéropostale
Puerto Rico
|
PS from
Aéropostale
|
Aéropostale
Procurement
Co.
|
Jimmy'Z Surf
Co., LLC
|
Aéropostale
Licensing
|
GoJane LLC
|
Aéropostale
Holdings
|
Elimination
Company (a)
|
Consolidated
U.S. Companies
|
|||||||||||||||||||||||||||||||||||||
|
1
|
2
|
3
|
4
|
5
|
6
|
7
|
9
|
10
|
78
|
98
|
||||||||||||||||||||||||||||||||||||||
|
ASSETS
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
CURRENT ASSETS
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Cash and Cash Equivalents
|
32,675
|
-
|
215
|
-
|
(901
|
)
|
(58
|
)
|
-
|
-
|
-
|
-
|
-
|
$
|
31,931
|
|||||||||||||||||||||||||||||||||
|
Merchandise Inventory
|
(1
|
)
|
-
|
-
|
-
|
(9
|
)
|
-
|
1
|
-
|
-
|
-
|
-
|
$
|
(9
|
)
|
||||||||||||||||||||||||||||||||
|
Prepaid Expenses
|
7,634
|
228
|
-
|
36
|
10
|
512
|
-
|
1,311
|
-
|
-
|
-
|
$
|
9,731
|
|||||||||||||||||||||||||||||||||||
|
Prepaid Taxes
|
3,355
|
-
|
-
|
119
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
$
|
3,474
|
|||||||||||||||||||||||||||||||||||
|
Other Current Assets
|
68
|
2
|
-
|
22
|
377
|
3,090
|
-
|
1,086
|
653
|
-
|
-
|
$
|
5,297
|
|||||||||||||||||||||||||||||||||||
|
TOTAL CURRENT ASSETS
|
$
|
43,731
|
$
|
230
|
$
|
215
|
$
|
177
|
$
|
(523
|
)
|
$
|
3,544
|
$
|
1
|
$
|
2,397
|
$
|
653
|
$
|
-
|
$
|
50,424
|
|||||||||||||||||||||||||
|
Fixtures, Equipment & Improvements
|
(17
|
)
|
-
|
(2
|
)
|
-
|
-
|
-
|
-
|
-
|
2
|
-
|
-
|
$
|
(17
|
)
|
||||||||||||||||||||||||||||||||
|
Intangibles
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
21,762
|
-
|
-
|
$
|
21,762
|
|||||||||||||||||||||||||||||||||||
|
Investment in Subsidiary
|
153,447
|
-
|
23,145
|
-
|
32,575
|
-
|
-
|
-
|
-
|
92,733
|
-
|
$
|
301,900
|
|||||||||||||||||||||||||||||||||||
|
Restricted Cash Non-Current
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
$
|
-
|
|||||||||||||||||||||||||||||||||||
|
Deferred Financing
|
3,398
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
$
|
3,398
|
|||||||||||||||||||||||||||||||||||
|
Other Assets
|
1,291
|
-
|
25
|
37
|
11
|
226
|
-
|
-
|
-
|
-
|
-
|
$
|
1,590
|
|||||||||||||||||||||||||||||||||||
|
TOTAL ASSETS
|
$
|
201,851
|
$
|
230
|
$
|
23,383
|
$
|
214
|
$
|
32,063
|
$
|
3,769
|
$
|
1
|
$
|
2,397
|
$
|
22,417
|
$
|
92,733
|
$
|
-
|
$
|
379,056
|
||||||||||||||||||||||||
|
LIABILITIES & SHAREHOLDERS' EQUITY
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
CURRENT LIABILITIES
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Accounts Payable
|
15,511
|
-
|
-
|
-
|
(44
|
)
|
27,914
|
-
|
-
|
(359
|
)
|
-
|
-
|
$
|
43,022
|
|||||||||||||||||||||||||||||||||
|
Accrued Expense
|
59,810
|
13,172
|
2,001
|
264
|
800
|
5,106
|
70
|
297
|
478
|
-
|
-
|
$
|
81,998
|
|||||||||||||||||||||||||||||||||||
|
Current Loan Payable
|
49,345
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
$
|
49,345
|
|||||||||||||||||||||||||||||||||||
|
Crystal Loan Payble
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
$
|
-
|
|||||||||||||||||||||||||||||||||||
|
Intercompany
|
1,068,018
|
(45,424
|
)
|
(576,130
|
)
|
(2,056
|
)
|
215,976
|
(588,722
|
)
|
59,127
|
(122,226
|
)
|
(10,382
|
)
|
1
|
-
|
$
|
(1,818
|
)
|
||||||||||||||||||||||||||||
|
TOTAL CURRENT LIABILITIES
|
$
|
1,192,684
|
$
|
(32,252
|
)
|
$
|
(574,129
|
)
|
$
|
(1,792
|
)
|
$
|
216,732
|
$
|
(555,702
|
)
|
$
|
59,197
|
$
|
(121,929
|
)
|
$
|
(10,263
|
)
|
$
|
1
|
$
|
-
|
$
|
172,547
|
||||||||||||||||||
|
Deferred Rent,Tenant Allowance
|
1,259
|
-
|
(330
|
)
|
-
|
2
|
-
|
-
|
-
|
582
|
-
|
-
|
$
|
1,513
|
||||||||||||||||||||||||||||||||||
|
Retirement Benefit Plan Liabilities
|
6,357
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
$
|
6,357
|
|||||||||||||||||||||||||||||||||||
|
Uncertain Tax Liability Reserves
|
76
|
-
|
2,017
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
$
|
2,093
|
|||||||||||||||||||||||||||||||||||
|
Unearned Vendor Rebate
|
-
|
-
|
-
|
-
|
-
|
9,479
|
-
|
-
|
-
|
-
|
-
|
$
|
9,479
|
|||||||||||||||||||||||||||||||||||
|
Other Non Current Liabilities
|
82,327
|
-
|
(59,628
|
)
|
-
|
-
|
-
|
-
|
176
|
-
|
-
|
-
|
$
|
22,875
|
||||||||||||||||||||||||||||||||||
|
Non-Current Loan Payable
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
$
|
-
|
|||||||||||||||||||||||||||||||||||
|
TOTAL LIABILTIES
|
$
|
1,282,703
|
$
|
(32,252
|
)
|
$
|
(632,070
|
)
|
$
|
(1,792
|
)
|
$
|
216,734
|
$
|
(546,224
|
)
|
$
|
59,197
|
$
|
(121,753
|
)
|
$
|
(9,682
|
)
|
$
|
1
|
$
|
-
|
$
|
214,863
|
||||||||||||||||||
|
SHAREHOLDERS' EQUITY
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Common Stock
|
816
|
-
|
1
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
$
|
817
|
|||||||||||||||||||||||||||||||||||
|
Additional Paid-in-Capital
|
258,546
|
-
|
25,134
|
3,001
|
32,576
|
23,145
|
1
|
1
|
32,575
|
92,733
|
-
|
$
|
467,712
|
|||||||||||||||||||||||||||||||||||
|
Other Comprehensive Income
|
1,190
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
$
|
1,190
|
|||||||||||||||||||||||||||||||||||
|
Retained Earnings
|
(1,337,638
|
)
|
32,482
|
630,317
|
(995
|
)
|
(217,247
|
)
|
526,848
|
(59,197
|
)
|
124,149
|
(477
|
)
|
(1
|
)
|
-
|
$
|
(301,760
|
)
|
||||||||||||||||||||||||||||
|
Treasury Stock
|
(3,765
|
)
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
-
|
$
|
(3,765
|
)
|
|||||||||||||||||||||||||||||||||
|
TOTAL SHAREHOLDERS' EQUITY
|
$
|
(1,080,851
|
)
|
$
|
32,482
|
$
|
655,452
|
$
|
2,006
|
$
|
(184,671
|
)
|
$
|
549,993
|
$
|
(59,196
|
)
|
$
|
124,150
|
$
|
32,098
|
$
|
92,732
|
$
|
-
|
$
|
164,193
|
|||||||||||||||||||||
|
TOTAL LIABILTIES & SHAREHLD EQUITY
|
$
|
201,851
|
$
|
230
|
$
|
23,383
|
$
|
214
|
$
|
32,063
|
$
|
3,769
|
$
|
1
|
$
|
2,397
|
$
|
22,417
|
$
|
92,733
|
$
|
-
|
$
|
379,056
|
||||||||||||||||||||||||
(a) Elimination Company is not a legal entity. It is included in the balance sheet to reflect entries to eliminate intercompany transactions to produce accurate consolidated financial statements.
|
In re
|
Aeropostale, Inc., et al.
|
Case No.
|
16-11275
|
||
|
Debtors
|
Reporting Period:
|
4/2/17 - 4/29/17
|
STATEMENT OF CASH FLOWS
MOR-3
Due to the complexity of the sale of substantially all of the Debtors’ assets, the Debtors continue to reconcile the general ledger accounts and update the financial reporting. The Debtors will modify the financial statements as needed.
|
In re
|
Aeropostale, Inc., et al.
|
Case No.
|
16-11275
|
||
|
Debtors
|
Reporting Period:
|
4/2/17 - 4/29/17
|
MOR-4
STATUS OF POST-PETITION TAXES
|
Federal
|
Beginning Tax
|
Amount Withheld
|
Amount Paid
|
Date Paid
|
Amount
Accrued
|
Ending Tax
|
||||||||||||
|
Withholding:
|
||||||||||||||||||
|
Aéropostale, Inc.
|
0
|
0
|
0
|
$
|
0
|
|||||||||||||
|
Aéropostale West
|
0
|
0
|
0
|
$
|
0
|
|||||||||||||
|
PS from Aéropostale
|
0
|
0
|
0
|
$
|
0
|
|||||||||||||
|
Licensing
|
0
|
0
|
0
|
$
|
0
|
|||||||||||||
|
Procurement
|
0
|
0
|
0
|
$
|
0
|
|||||||||||||
|
Aéropostale Puerto Rico
|
0
|
0
|
0
|
$
|
0
|
|||||||||||||
|
GoJane LLC
|
0
|
0
|
0
|
$
|
0
|
|||||||||||||
|
FICA-Employee
|
||||||||||||||||||
|
Aéropostale, Inc.
|
0
|
0
|
0
|
$
|
0
|
|||||||||||||
|
Aéropostale West
|
0
|
0
|
0
|
$
|
0
|
|||||||||||||
|
PS from Aéropostale
|
0
|
0
|
0
|
$
|
0
|
|||||||||||||
|
Licensing
|
0
|
0
|
0
|
$
|
0
|
|||||||||||||
|
Procurement
|
0
|
0
|
0
|
$
|
0
|
|||||||||||||
|
Aéropostale Puerto Rico
|
0
|
0
|
0
|
$
|
0
|
|||||||||||||
|
GoJane LLC
|
0
|
0
|
0
|
$
|
0
|
|||||||||||||
|
FICA-Employer
|
||||||||||||||||||
|
Aéropostale, Inc.
|
0
|
0
|
0
|
$
|
0
|
|||||||||||||
|
Aéropostale West
|
0
|
0
|
0
|
$
|
0
|
|||||||||||||
|
PS from Aéropostale
|
0
|
0
|
0
|
$
|
0
|
|||||||||||||
|
Licensing
|
0
|
0
|
0
|
$
|
0
|
|||||||||||||
|
Procurement
|
0
|
0
|
0
|
$
|
0
|
|||||||||||||
|
Aéropostale Puerto Rico
|
0
|
0
|
0
|
$
|
0
|
|||||||||||||
|
GoJane LLC
|
0
|
0
|
0
|
$
|
0
|
|||||||||||||
|
Unemployment
|
||||||||||||||||||
|
Aéropostale, Inc.
|
0
|
0
|
0
|
$
|
0
|
|||||||||||||
|
Aéropostale West
|
0
|
0
|
0
|
$
|
0
|
|||||||||||||
|
PS from Aéropostale
|
0
|
0
|
0
|
$
|
0
|
|||||||||||||
|
Licensing
|
0
|
0
|
0
|
$
|
0
|
|||||||||||||
|
Procurement
|
0
|
0
|
0
|
$
|
0
|
|||||||||||||
|
Aéropostale Puerto Rico
|
0
|
0
|
0
|
$
|
0
|
|||||||||||||
|
GoJane LLC
|
0
|
0
|
0
|
$
|
0
|
|||||||||||||
|
Income
|
||||||||||||||||||
|
Other:
|
||||||||||||||||||
|
Total Federal Taxes
|
$
|
0
|
$
|
0
|
$0
|
$
|
0
|
$
|
0
|
|||||||||
|
In re
|
Aeropostale, Inc., et al.
|
Case No.
|
16-11275
|
||
|
Debtors
|
Reporting Period:
|
4/2/17 - 4/29/17
|
MOR-4
STATUS OF POST-PETITION TAXES
|
State and Local
|
Beginning Tax(a)
|
Amount Withheld
|
Amount Paid
|
Date Paid
|
Amount
Accrued
|
Ending Tax
|
||||||||||||
|
Withholding - Employee
|
||||||||||||||||||
|
Aéropostale, Inc.
|
0
|
0
|
$
|
0
|
||||||||||||||
|
Aéropostale West
|
0
|
0
|
$
|
0
|
||||||||||||||
|
PS from Aéropostale
|
0
|
0
|
$
|
0
|
||||||||||||||
|
Licensing
|
0
|
0
|
$
|
0
|
||||||||||||||
|
Procurement
|
0
|
0
|
$
|
0
|
||||||||||||||
|
Aéropostale Puerto Rico
|
0
|
0
|
$
|
0
|
||||||||||||||
|
GoJane LLC
|
0
|
0
|
$
|
0
|
||||||||||||||
|
Withholding - Employer
|
||||||||||||||||||
|
Aéropostale, Inc.
|
0
|
0
|
$
|
0
|
||||||||||||||
|
Aéropostale West
|
0
|
0
|
$
|
0
|
||||||||||||||
|
PS from Aéropostale
|
0
|
0
|
$
|
0
|
||||||||||||||
|
Licensing
|
0
|
0
|
$
|
0
|
||||||||||||||
|
Procurement
|
0
|
0
|
$
|
0
|
||||||||||||||
|
Aéropostale Puerto Rico
|
0
|
0
|
$
|
0
|
||||||||||||||
|
GoJane LLC
|
0
|
0
|
$
|
0
|
||||||||||||||
|
Sales Tax (a)
|
||||||||||||||||||
|
Aéropostale, Inc.
|
(30,210
|
)
|
0
|
0
|
$
|
(30,210
|
)
|
|||||||||||
|
Aéropostale West
|
0
|
0
|
0
|
$
|
0
|
|||||||||||||
|
Aéropostale Puerto Rico
|
-
|
0
|
0
|
$
|
0
|
|||||||||||||
|
PS from Aéropostale
|
140
|
0
|
0
|
$
|
140
|
|||||||||||||
|
GoJane LLC
|
0
|
0
|
0
|
$
|
0
|
|||||||||||||
|
Excise
|
||||||||||||||||||
|
Unemployment (b)
|
||||||||||||||||||
|
Real Property (c)
|
||||||||||||||||||
|
Personal Property
|
||||||||||||||||||
|
Aéropostale, Inc.
|
565,426
|
$
|
565,426
|
|||||||||||||||
|
Aéropostale West
|
0
|
$
|
0
|
|||||||||||||||
|
Aéropostale Puerto Rico
|
108,043
|
$
|
108,043
|
|||||||||||||||
|
PS from Aéropostale
|
61,945
|
$
|
61,945
|
|||||||||||||||
|
Other:
|
||||||||||||||||||
|
Total State and Local
|
$
|
705,342
|
$
|
-
|
$
|
-
|
$0
|
$0
|
$
|
705,342
|
||||||||
|
Total Taxes
|
$
|
705,342
|
$
|
-
|
$
|
-
|
$0
|
$0
|
$
|
705,342
|
||||||||
|
(a)
|
Credit balances due to overpayment of sales taxes in Dec 2016. As expected, the Debtors received the sales taxes refunds, and provided the related cash to Aero OpCo, which made the original overpayment.
|
|
(b)
|
Included with State Withholding
|
|
(c)
|
Debtor does not own any real property
|
|
In re
|
Aeropostale, Inc., et al.
|
Case No.
|
16-11275
|
||
|
Debtors
|
Reporting Period:
|
4/2/17 - 4/29/17
|
MOR-4
SUMMARY OF UNPAID POST-PETITION DEBTS
|
Number of Days Past Due
|
||||||||||||||||||||||||
|
Current
|
0-30
|
31-60
|
61-90
|
Over 91
|
Total
|
|||||||||||||||||||
|
Accounts Payable
|
1,095
|
150,056
|
8,071
|
32,143
|
8,442,655
|
$
|
8,634,020
|
|||||||||||||||||
|
Wages Payable
|
0
|
0
|
0
|
0
|
0
|
$
|
0
|
|||||||||||||||||
|
Taxes Payable
|
735,413
|
0
|
0
|
0
|
0
|
$
|
735,413
|
|||||||||||||||||
|
Rent/Leases Building
|
0
|
0
|
0
|
0
|
$
|
0
|
||||||||||||||||||
|
Rent/Leases Equipment
|
0
|
0
|
0
|
0
|
0
|
$
|
0
|
|||||||||||||||||
|
Secured Debt/Adequate Protection Payments
|
0
|
0
|
0
|
0
|
0
|
$
|
0
|
|||||||||||||||||
|
Professional Fees
|
0
|
0
|
0
|
0
|
0
|
$
|
0
|
|||||||||||||||||
|
Amounts Due to Insiders
|
0
|
0
|
0
|
0
|
0
|
$
|
0
|
|||||||||||||||||
|
Other:
|
0
|
0
|
0
|
0
|
0
|
$
|
0
|
|||||||||||||||||
|
Total Post-petition Debts
|
$
|
736,508
|
$
|
150,056
|
$
|
8,071
|
$
|
32,143
|
$
|
8,442,655
|
$
|
9,369,433
|
||||||||||||
Support for items on MOR-4 may be made available upon request.
Notes:
|
In re
|
Aeropostale, Inc., et al.
|
Case No.
|
16-11275
|
||
|
Debtors
|
Reporting Period:
|
4/2/17 - 4/29/17
|
MOR-5
Unaudited
ACCOUNTS RECEIVABLE RECONCILIATION AND AGING
|
Accounts Receivable Reconcilation
|
Amount
|
|||
|
Total Accounts Receivable at the beginning of reporting period
|
$
|
2,357,618
|
||
|
Plus: Amounts billed during the period
|
0
|
|||
|
Less: Amounts collected during the period
|
(823,012
|
)
|
||
|
Less: Non-Cash Adjustments
|
(439,910
|
)
|
||
|
Total Accounts Receivable at the end of the reporting period
|
$
|
1,094,697
|
||
|
Accounts Receivable Aging
|
0-30
|
31-60
|
61-90
|
Over 91
|
Total
|
|||||||||||||||
|
0 - 30 days old
|
0
|
0
|
||||||||||||||||||
|
31 - 60 days old
|
0
|
0
|
||||||||||||||||||
|
61 - 90 days old
|
0
|
0
|
||||||||||||||||||
|
91+ days old
|
1,879,068
|
1,879,068
|
||||||||||||||||||
|
Less: Bad Debts (Amounts considered uncollectible)
|
(784,371
|
)
|
(784,371
|
)
|
||||||||||||||||
|
Net Accounts Receivable
|
$
|
0
|
$
|
0
|
$
|
0
|
$
|
1,094,697
|
$
|
1,094,697
|
||||||||||
Note: Credit card receivables are recorded in MOR-1 with cash and cash-equivalent balance.
TAXES RECONCILIATION AND AGING
|
Taxes Payable
|
0-30
|
31-60
|
61-90
|
Over 91
|
Total
|
||||||||||||
|
Total Taxes Payable
|
$
|
735,413
|
$
|
735,413
|
|||||||||||||
|
In re
|
Aeropostale, Inc., et al.
|
Case No.
|
16-11275
|
||
|
Debtors
|
Reporting Period:
|
4/2/17 - 4/29/17
|
PAYMENTS TO INSIDERS AND PROFESSIONALS
MOR-6
|
INSIDERS1,2
|
|||||||||
|
NAME
|
TYPE OF PAYMENT
|
AMOUNT PAID
|
TOTAL PAID TO DATE
|
||||||
|
Multiple
|
Salary
|
-
|
-
|
||||||
|
Multiple
|
Auto Allowance
|
-
|
-
|
||||||
|
TOTAL PAYMENTS TO INSIDERS
|
$
|
-
|
$
|
-
|
|||||
No payments were made to insiders during the period
|
PROFESSIONALS3
|
|||||||||||||||||
|
NAME
|
DATE OF COURT
ORDER
AUTHORIZING
PAYMENT
|
AMOUNT APPROVED
|
AMOUNT PAID
|
TOTAL PAID TO
DATE
|
TOTAL INCURRED &
UNPAID*
|
||||||||||||
|
Weil, Gotshal & Manges
|
6/13/2016
|
$
|
105,185
|
$
|
432,170
|
$
|
14,610,232
|
$
|
83,019
|
||||||||
|
Prime Clerk
|
6/13/2016
|
29,886
|
33,784
|
1,505,679
|
-
|
||||||||||||
|
Stifel
|
6/13/2016
|
-
|
-
|
5,293,506
|
-
|
||||||||||||
|
Province
|
6/13/2016
|
12,045
|
60,082
|
1,429,205
|
9,586
|
||||||||||||
|
FTI
|
6/13/2016
|
-
|
183,859
|
4,586,942
|
-
|
||||||||||||
|
Pachulski Stang Ziehl & Jones
|
6/13/2016
|
20,075
|
50,860
|
1,317,423
|
9,789
|
||||||||||||
|
Deloitte Tax
|
6/13/2016
|
-
|
79,117
|
397,031
|
-
|
||||||||||||
|
Hilco IP Services
|
6/13/2016
|
-
|
-
|
102,167
|
-
|
||||||||||||
|
Swiggart & Agin LLC
|
1/6/2017
|
-
|
-
|
15,318
|
-
|
||||||||||||
|
Development Specialists, Inc.
|
10/13/2016
|
257,820
|
257,820
|
1,916,763
|
-
|
||||||||||||
|
TOTAL PAYMENTS TO PROFESSIONALS
|
$
|
425,012
|
$
|
1,097,692
|
$
|
31,174,267
|
$
|
102,394
|
|||||||||
|
DIP FINANCING / PREPETITION (ABL LENDER)
|
|||||
|
NAME OF CREDITOR
|
INITIAL DRAW
|
ADDITIONAL DRAWS
|
PAID DOWN
|
ENDING BALANCE
|
FEES PAID
|
|
TOTAL
|
$ -
|
$ -
|
$ -
|
$ -
|
$ -
|
1Represents payments made by the Debtors to persons considered to be "insiders" under the Bankruptcy Code during the reporting period.The total is shown on a cash basis, reflecting the actual amounts received, net of any applicable taxes, withholdings or other deductions. The total includes regular payroll, fees and expense reimbursements.
2Persons included as "insiders" have been included for informational purposes only. The Debtors do not concede or take any position with respect to: (a) such person's influence over the control of the Debtors; (b) the management responsibilities or functions of such individual; (c) the decision-making or corporate authority of such individual; or (d) whether such individual could successfully argue that he or she is not an "insider" under applicable law, including, without limitation, the federal securities laws or with respect to any theories of liability or for any other purpose. Further, the inclusion of a party as an "insider" is not an acknowledgement or concession that such party is an "insider" under applicable bankruptcy law.
3On June 3, 2016, the Bankruptcy Court entered the order establishing procedures for interim compensation and reimbursement of expenses of professionals (ECF No. 251). Any payments made by the Debtors to estate professionals will be in accordance with the terms and conditions set forth therein.
|
In re
|
Aeropostale, Inc., et al.
|
Case No.
|
16-11275
|
||
|
Debtors
|
Reporting Period:
|
4/2/17 - 4/29/17
|
DEBTOR QUESTIONNAIRE
MOR-7
|
Must be completed each month. If the answer to any of the questions is “Yes”, provide a detailed explanation of each item. Attach additional sheets if necessary.
|
Yes
|
No
|
|
|
1
|
Have any assets been sold or transferred outside the normal course of business this reporting period?
|
X
|
|
|
2
|
Have any funds been disbursed from any account other than a debtor in possession account this reporting period?
|
X
|
|
|
3
|
Is the Debtor delinquent in the timely filing of any post-petition tax returns?
|
X
|
|
|
4
|
Are workers compensation, general liability or other necessary insurance coverages expired or cancelled, or has the debtor received notice of expiration or cancellation of such policies?
|
X (a)
|
|
|
5
|
Is the Debtor delinquent in paying any insurance premium payment?
|
X
|
|
|
6
|
Have any payments been made on pre-petition liabilities this reporting period?
|
X
|
|
|
7
|
Are any post petition receivables (accounts, notes or loans) due from related parties?
|
X (b)
|
|
|
8
|
Are any post petition payroll taxes past due?
|
X
|
|
|
9
|
Are any post petition State or Federal income taxes past due?
|
X
|
|
|
10
|
Are any post petition real estate taxes past due?
|
X
|
|
|
11
|
Are any other post petition taxes past due?
|
X
|
|
|
12
|
Have any pre-petition taxes been paid during this reporting period?
|
X
|
|
|
13
|
Are any amounts owed to post petition creditors delinquent?
|
X (c)
|
|
|
14
|
Are any wage payments past due?
|
X
|
|
|
15
|
Have any post petition loans been received by the Debtor from any party?
|
X
|
|
|
16
|
Is the Debtor delinquent in paying any U.S. Trustee fees?
|
X
|
|
|
17
|
Is the Debtor delinquent with any court ordered payments to attorneys or other professionals?
|
X
|
|
|
18
|
Have the owners or shareholders received any compensation outside of the normal course of business?
|
X
|
|
a) The Debtors have cancelled the workers compensation policy since they do not have any employees; former employees now work for the buyer of substantially all assets. The Debtors have cancelled certain other policies for which there is no longer an insurable interest given the sale of substantially all assets.
|
|
|
b) Intercompany accounts are maintained in accordance with the order approving the Debtors' cash management system.
|
|
|
c) The Debtors continue to analyze the outstanding accounts payable. Since the end of the reporting period, the Debtors continued to make payments based on the order authorizing the use of cash collateral [ECF No. 1282].
|