Exhibit 99.1
| | | | | | | | |
| | | | | | | Monthly Operating Report | |
| | | | | | | CASH BASIS | |
| | CASE NAME: | Tuesday Morning Corporation, et al. | | | | | |
| | | | | | | | | | |
| | CASE NUMBER: | 20-31476 (Jointly Administered) | | | | | |
| | | | | | | | | | |
| | JUDGE: | Harlin DeWayne Hale | | | | | |
| | | | | | | | | | |
| | | UNITED STATES BANKRUPTCY COURT | | |
| | | | | | | | | | |
| NORTHERN & EASTERN DISTRICTS OF TEXAS |
| | | | | | | | | | |
| | REGION 6 | |
| | | | | | | | | | |
| MONTHLY OPERATING REPORT |
| | | | | | | | | | |
| | | | MONTH ENDING: | December | | 2020 | Note 1 | | |
| | | | | MONTH | | YEAR | | | |
| | | | | | | | | | |
| | IN ACCORDANCE WITH TITLE 28, SECTION 1746, OF THE UNITED STATES CODE, I DECLARE UNDER |
| | PENALTY OF PERJURY THAT I HAVE EXAMINED THE FOLLOWING MONTHLY OPERATING REPORT |
| | (CASH BASIS-1 THROUGH CASH BASIS-6) AND THE ACCOMPANYING ATTACHMENTS AND, | |
| | TO THE BEST OF MY KNOWLEDGE, THESE DOCUMENTS ARE TRUE, CORRECT, AND COMPLETE. |
| | DECLARATION OF THE PREPARER (OTHER THAN RESPONSIBLE PARTY) IS BASED ON ALL | |
| | INFORMATION OF WHICH PREPARER HAS ANY KNOWLEDGE. | | | |
| | | | | | | | | | |
| | | | | | | | | | |
| | RESPONSIBLE PARTY: | | | | | | | |
| | STACIE SHIRLEY | | EVP, Chief Financial Officer | |
| | ORIGINAL SIGNATURE OF RESPONSIBLE PARTY | | TITLE | |
| | | | | |
| | STACIE SHIRLEY | | January 20, 2021 | |
| | PRINTED NAME OF RESPONSIBLE PARTY | | DATE | |
| | | | |
| | PREPARER: | | | |
| | | | | |
| | JASON MUSKOVICH | | Director - AlixPartners, LLP | |
| | ORIGINAL SIGNATURE OF PREPARER | | TITLE | |
| | | | | |
| | JASON MUSKOVICH | | January 20, 2021 | |
| | PRINTED NAME OF PREPARER | | DATE | |
| | | | | |
| | On December 23, 2020, the Court entered an order [Docket No. 1913] confirming the Debtors’ Second Amended Joint Plan | |
| | of Reorganization Pursuant to Chapter 11 of the Bankruptcy Code [Docket No. 1633]. | | | |
| | The Effective Date of the Plan occurred on December 31, 2020 [Docket No. 1934]. | | | |
| | | | | |
| | Note 1: This report covers the period from December 1 through December 31, 2020 unless otherwise noted. | |
| In re: Tuesday Morning Corporation, et al. | Case No. (Jointly Administered) | 20-31476 (HDH) |
| | Reporting Period: | December 1 to 31, 2020 |
| | Federal Tax I.D. # | 75-2398532 |
Notes to the Monthly Operating Report
This Monthly Operating Report ("MOR") is unaudited and has been prepared solely for the purpose of complying with the obligations of the above-captioned debtors and debtors in possession (the “Debtors”) to provide monthly operating reports during these Chapter 11 Cases. The Debtors have prepared this monthly operating report using the best information presently available to them, which has been collected, maintained, and prepared in accordance with their historical accounting practices. This monthly operating report is, thus, true and accurate to the best of the Debtors’ knowledge, information, and belief based on currently available data.
This MOR includes activity from the following Debtors and related Case Numbers:
| Debtor | | Case Number |
| Tuesday Morning Corporation (LEAD) | | 20-31476 |
| TMI Holdings, Inc. | | 20-31477 |
| Tuesday Morning, Inc. | | 20-31478 |
| Friday Morning, LLC | | 20-31479 |
| Days of the Week, Inc. | | 20-31480 |
| Nights of the Week, Inc. | | 20-31481 |
| Tuesday Morning Partners, Ltd. | | 20-31482 |
Background: On May 27, 2020 (the “Petition Date”), each of the Debtors filed with the Court their respective voluntary petitions for relief under chapter 11 of Title 11 of the Bankruptcy Code, commencing the above-captioned chapter 11 cases. The Debtors continue to operate their businesses and manage their properties as debtors-in-possession pursuant to sections 1107(a) and 1108 of the Bankruptcy Code. On May 28, 2020, the Court entered an order authorizing the joint administration of these chapter 11 cases [Dkt. 66].
Plan Confirmation and Effective Date: On December 23, 2020, the Court entered an order [Docket No. 1913] confirming the Debtors’ Second Amended Joint Plan of Reorganization Pursuant to Chapter 11 of the Bankruptcy Code [Docket No. 1633]. The Effective Date of the Plan occurred on December 31, 2020 [Docket No. 1934].
Notes:
The Debtors prepared this MOR relying primarily upon the information set forth in their books and records. Consequently, certain transactions that are not identified in the normal course of business in the Debtors’ books and records may not be included in this MOR. Nevertheless, in preparing this MOR, the Debtors made best efforts to supplement the information set forth in their books and records with additional information concerning transactions that may not have been included therein.
Except as relates to Cash Receipts and Disbursements information presented on Page 1 and Page 1A of the attached MOR, information herein has been prepared on a consolidated basis for the Debtors.
The financial information contained herein is unaudited, limited in scope, covers a limited time period, and has been prepared solely for the purpose of complying with the monthly reporting requirements for Chapter 11 debtors as required by the United States Bankruptcy Court for the Northern District of Texas (the “Bankruptcy Court”). The financial information is in a format intended to meet the requirements of the Bankruptcy Court and the Office of the United States Trustee for the Northern District of Texas, Dallas Division (the “U.S. Trustee”).
As discussed below, this MOR is not prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). This MOR does not include all of the information and footnotes required by GAAP.
The results of operations contained herein are not necessarily indicative of results that may be expected from any other period or for the full year and may not necessarily reflect the consolidated results of operations, financial position and cash flows of the Debtors in the future.
No assurance can be given as to the value, if any, that may be ascribed to the Debtors’ various pre- petition liabilities and other securities. Accordingly, the Debtors urge that caution be exercised with respect to existing and future investments in any of these securities or claims against the Debtors.
Reservation of Rights: Given the complexity of the Debtors’ financial affairs, inadvertent errors, omissions or over-inclusions may have occurred. Accordingly, the Debtors hereby reserve all of their rights to dispute the validity, status, enforceability, or nature of any claim amount, representation, or other statement in this MOR and reserve the right to amend or supplement this MOR, if necessary.
Additional Information: For more information related to these Chapter 11 Cases, court filings and claims information please refer to the Restructuring website at https://dm.epiq11.com/case/tuesdaymorning/info.
Monthly Operating Report
CASH BASIS-1
| CASE NAME: | Tuesday Morning Corporation, et al. |
| | |
| CASE NUMBER: | 20-31476 (Jointly Administered) |
| CASH RECEIPTS AND | | OCT | | | NOV | | | DEC | | | | |
| DISBURSEMENTS | | 1 to 31 | | | 1 to 30 | | | 1 to 31 | | | TOTAL | |
| 1. CASH - BEGINNING OF MONTH | | $ | 48,904,040 | | | $ | 24,546,517 | | | $ | 21,799,957 | | | $ | 48,904,040 | |
| RECEIPTS | | | | | | | | | | | | | | | | |
| 2. CASH SALES 1 | | $ | 47,768,218 | | | $ | 64,477,256 | | | $ | 84,141,983 | | | $ | 196,387,457 | |
| 3. ACCOUNTS RECEIVABLE COLLECTIONS | | | - | | | | - | | | | - | | | | - | |
| 4. LOANS AND ADVANCES 2 | | | 87,300,000 | | | | 73,500,000 | | | | 93,500,000 | | | | 254,300,000 | |
| 5. SALE OF ASSETS | | | - | | | | 374,580 | | | | - | | | | 374,580 | |
| 6. LEASE & RENTAL INCOME | | | - | | | | - | | | | - | | | | - | |
| 7. WAGES | | | - | | | | - | | | | - | | | | - | |
| 8. OTHER (SEE MONTHLY DETAIL) | | | 17,967,973 | | | | 4,681,049 | | | | 10,149,424 | | | | 32,798,445 | |
| 9. TOTAL RECEIPTS | | $ | 153,036,191 | | | $ | 143,032,885 | | | $ | 187,791,407 | | | $ | 483,860,482 | |
| DISBURSEMENTS | | | | | | | | | | | | | | | | |
| 10. NET PAYROLL | | $ | 10,682,262 | | | $ | 13,594,480 | | | $ | 12,435,316 | | | $ | 36,712,058 | |
| 11. PAYROLL TAXES PAID 3 | | | - | | | | - | | | | - | | | | - | |
| 12. SALES,USE & OTHER TAXES PAID | | | 4,058,833 | | | | 4,314,544 | | | | 5,811,782 | | | | 14,185,159 | |
| 13. INVENTORY PURCHASES | | | 37,041,327 | | | | 33,917,984 | | | | 31,363,127 | | | | 102,322,438 | |
| 14. MORTAGE PAYMENTS | | | - | | | | - | | | | - | | | | - | |
| 15. OTHER SECURED NOTE PAYMENTS 2 | | | 87,409,345 | | | | 73,540,154 | | | | 93,538,885 | | | | 254,488,384 | |
| 16. RENTAL & LEASE PAYMENTS 4 | | | 9,837,059 | | | | 5,762,317 | | | | 8,794,822 | | | | 24,394,198 | |
| 17. UTILITIES | | | 1,295,911 | | | | 1,126,853 | | | | 1,287,630 | | | | 3,710,395 | |
| 18. INSURANCE | | | 263,066 | | | | 181,326 | | | | 524,987 | | | | 969,379 | |
| 19. VEHICLE EXPENSES 5 | | | 5,973,169 | | | | 7,036,247 | | | | 7,516,871 | | | | 20,526,287 | |
| 20. TRAVEL | | | 24,224 | | | | 41,788 | | | | 76,112 | | | | 142,124 | |
| 21. ENTERTAINMENT | | | - | | | | - | | | | - | | | | - | |
| 22. REPAIRS & MAINTENANCE | | | 1,158,615 | | | | 1,008,629 | | | | 2,140,551 | | | | 4,307,794 | |
| 23. SUPPLIES | | | 737,769 | | | | 790,189 | | | | 980,988 | | | | 2,508,947 | |
| 24. ADVERTISING | | | 512,060 | | | | 766,086 | | | | 1,064,900 | | | | 2,343,046 | |
| 25. HOUSEHOLD EXPENSES | | | - | | | | - | | | | - | | | | - | |
| 26. CHARITABLE CONTRIBUTIONS | | | - | | | | - | | | | - | | | | - | |
| 27. GIFTS | | | - | | | | - | | | | - | | | | - | |
| 28. OTHER (ORDINARY COURSE PROFESSIONALS) | | | 497,528 | | | | 438,342 | | | | 617,055 | | | | 1,552,926 | |
| 29. TOTAL ORDINARY DISBURSEMENTS | | $ | 159,491,170 | | | $ | 142,518,938 | | | $ | 166,153,027 | | | $ | 468,163,135 | |
| REORGANIZATION EXPENSES | | | | | | | | | | | | | | | | |
| 30. PROFESSIONAL FEES | | $ | 2,476,452 | | | $ | 3,260,506 | | | $ | 5,631,178 | | | $ | 11,368,137 | |
| 31. U.S. TRUSTEE FEES | | | 501,625 | | | | - | | | | - | | | | 501,625.0 | |
| 32. OTHER (SEE MONTHLY DETAIL) | | | 14,924,467 | | | | - | | | | 14,397,270 | | | | 29,321,737 | |
| 33. TOTAL REORGANIZATION EXPENSES 6 | | $ | 17,902,544 | | | $ | 3,260,506 | | | $ | 20,028,448 | | | $ | 41,191,499 | |
| 34. TOTAL DISBURSEMENTS | | $ | 177,393,714 | | | $ | 145,779,445 | | | $ | 186,181,475 | | | $ | 509,354,633 | |
| 35. NET CASH FLOW | | $ | (24,357,523 | ) | | $ | (2,746,560 | ) | | $ | 1,609,932 | | | $ | (25,494,151 | ) |
| 36. CASH - END OF MONTH | | $ | 24,546,517 | | | $ | 21,799,957 | | | $ | 23,409,889 | | | $ | 23,409,889 | |
NOTES:
1 Includes all cash and credit card in-store sales.
2 Includes all borrowings or repayments against Pre-Petition ABL and Post-Petition DIP. In accordance with conditions required for Plan Confirmation, the Debtors repaid the outstanding balance of $100,000 on their Pre-Petition ABL on December 31, 2020.
3 Included in Net Payroll disbursements item #10
4 December disbursements include cure payments related to the assumption of Real Property leases for on-going locations.
5 Represents freight disbursements
6 December amount includes payments to restructuring professionals, payment of exit financing and closing fees and funding of unpaid pre-petition professional fee escrow as required as a condition of emergence under the Plan.
| | | Monthly Operating Report |
| CASE NAME: | Tuesday Morning Corporation, et al. | CASH BASIS-1 |
| | | CALCULATION OF QUARTERLY UST FEES |
| CASE NUMBER: | 20-31476 (Jointly Administered) | |
| | | | | | | | | TMI | | | | | | | | | | | | TMP | | | | |
| 34. TOTAL DISBURSEMENTS | | Tuesday Morning Corporation | | | TMI Holdings, Inc. | | | Tuesday Morning, Inc. | | | Friday Morning, LLC | | | Days of the Week, Inc. | | | Nights of the Week, Inc. | | | Tuesday Morning Partners, Ltd. | | | TOTAL | |
| CYQ4/M1 - OCT 1 - 31, 2020 | | $ | - | | | $ | - | | | $ | 120,938,772 | | | $ | - | | | $ | - | | | $ | - | | | $ | 56,454,942 | | | $ | 177,393,714 | |
| CYQ4/M2 - NOV 1 - 30, 2020 | | | - | | | | - | | | | 106,814,083 | | | | - | | | | - | | | | - | | | | 38,965,362 | | | | 145,779,445 | |
| CYQ4/M3 - DEC 1 - 31, 2020 | | | - | | | | - | | | | 149,035,493 | | | | - | | | | - | | | | - | | | | 37,145,982 | | | | 186,181,475 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| TOTAL DISBURSEMENTS - CALENDAR Q4 2020 | | $ | - | | | $ | - | | | $ | 376,788,347 | | | $ | - | | | $ | - | | | $ | - | | | $ | 132,566,286 | | | $ | 509,354,633 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| QUARTERLY FEES DUE | | $ | 325.00 | | | $ | 325.00 | | | $ | 250,000.00 | | | $ | 325.00 | | | $ | 325.00 | | | $ | 325.00 | | | $ | 250,000.00 | | | $ | 501,625.00 | |
Quarterly
Disbursement
Minimum | | | Quarterly
Disbursement
Maximum | | | Applicable
Quarterly Fee | |
| $ | - | | | $ | - | | | $ | 325.00 | |
| $ | 0.01 | | | $ | 14,999.99 | | | $ | 325.00 | |
| $ | 15,000.00 | | | $ | 74,999.99 | | | $ | 650.00 | |
| $ | 75,000.00 | | | $ | 149,999.99 | | | $ | 975.00 | |
| $ | 150,000.00 | | | $ | 224,999.99 | | | $ | 1,625.00 | |
| $ | 225,000.00 | | | $ | 299,999.99 | | | $ | 1,950.00 | |
| $ | 300,000.00 | | | $ | 999,999.99 | | | $ | 4,875.00 | |
| $ | 1,000,000.00 | | | $ | 24,999,999.99 | | | | 1 | % |
| $ | 25,000,000.00 | | | | | | | $ | 250,000.00 | |
| | | Monthly Operating Report |
| CASE NAME: | Tuesday Morning Corporation, et al. | CASH BASIS-1 |
| | | CONSOLIDATING DISBURSEMENTS BY LEGAL ENTITY - OCT 1 TO 31, 2020 |
| CASE NUMBER: | 20-31476 (Jointly Administered) | |
| | | OCTOBER 1 TO 31, 2020 BY LEGAL ENTITY | | | | |
| | | | | | | | | TMI | | | | | | | | | | | | TMP | | | | |
CASH RECEIPTS AND
DISBURSEMENTS | | Tuesday
Morning
Corporation | | | TMI Holdings, Inc. | | | Tuesday Morning, Inc. | | | Friday Morning, LLC | | | Days of the Week, Inc. | | | Nights of the Week, Inc. | | | Tuesday Morning Partners, Ltd. | | | OCT 1 - 31 TOTAL | |
| 1. CASH - BEGINNING OF MONTH | | $ | - | | | $ | - | | | $ | 48,904,040 | | | $ | - | | | $ | - | | | $ | - | | | $ | - | | | $ | 48,904,040 | |
| RECEIPTS | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 2. CASH SALES 1 | | $ | - | | | $ | - | | | $ | 47,768,218 | | | $ | - | | | $ | - | | | $ | - | | | $ | - | | | $ | 47,768,218 | |
| 3. ACCOUNTS RECEIVABLE COLLECTIONS | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 4. LOANS AND ADVANCES 2 | | | - | | | | - | | | | 87,300,000 | | | | - | | | | - | | | | - | | | | - | | | | 87,300,000 | |
| 5. SALE OF ASSETS | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 6. LEASE & RENTAL INCOME | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 7. WAGES | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 8. OTHER (SEE BELOW) | | $ | - | | | $ | - | | | $ | 3,467,973 | | | $ | - | | | $ | - | | | $ | - | | | $ | 14,500,000 | | | $ | 17,967,973 | |
| 8a. SALES TAXES COLLECTED | | | - | | | | - | | | | 3,467,973 | | | | - | | | | - | | | | - | | | | - | | | | 3,467,973 | |
| 8b. GOB SALES PROCEEDS | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 8c. POR EARNEST MONEY DEPOSITS | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | 14,500,000 | | | | 14,500,000 | |
| 8d. EXCESS EXIT FINANCING PROCEEDS | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 9. TOTAL RECEIPTS | | $ | - | | | $ | - | | | $ | 138,536,191 | | | $ | - | | | $ | - | | | $ | - | | | $ | 14,500,000 | | | $ | 153,036,191 | |
| DISBURSEMENTS | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 10. NET PAYROLL | | $ | - | | | $ | - | | | $ | 8,047,443 | | | $ | - | | | $ | - | | | $ | - | | | $ | 2,634,819 | | | $ | 10,682,262 | |
| 11. PAYROLL TAXES PAID 3 | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 12. SALES,USE & OTHER TAXES PAID | | | - | | | | - | | | | 4,058,833 | | | | - | | | | - | | | | - | | | | - | | | | 4,058,833 | |
| 13. INVENTORY PURCHASES | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | 37,041,327 | | | | 37,041,327 | |
| 14. MORTAGE PAYMENTS | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 15. OTHER SECURED NOTE PAYMENTS 2 | | | - | | | | - | | | | 87,409,345 | | | | - | | | | - | | | | - | | | | - | | | | 87,409,345 | |
| 16. RENTAL & LEASE PAYMENTS | | | - | | | | - | | | | 9,516,293 | | | | - | | | | - | | | | - | | | | 320,765 | | | | 9,837,059 | |
| 17. UTILITIES | | | - | | | | - | | | | 1,268,045 | | | | - | | | | - | | | | - | | | | 27,866 | | | | 1,295,911 | |
| 18. INSURANCE | | | - | | | | - | | | | 263,066 | | | | - | | | | - | | | | - | | | | - | | | | 263,066 | |
| 19. VEHICLE EXPENSES 4 | | | - | | | | - | | | | 4,920,061 | | | | - | | | | - | | | | - | | | | 1,053,108 | | | | 5,973,169 | |
| 20. TRAVEL | | | - | | | | - | | | | 24,224 | | | | - | | | | - | | | | - | | | | - | | | | 24,224 | |
| 21. ENTERTAINMENT | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 22. REPAIRS & MAINTENANCE | | | - | | | | - | | | | 1,156,374 | | | | - | | | | - | | | | - | | | | 2,241 | | | | 1,158,615 | |
| 23. SUPPLIES | | | - | | | | - | | | | 287,420 | | | | - | | | | - | | | | - | | | | 450,349 | | | | 737,769 | |
| 24. ADVERTISING | | | - | | | | - | | | | 512,060 | | | | - | | | | - | | | | - | | | | - | | | | 512,060 | |
| 25. HOUSEHOLD EXPENSES | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 26. CHARITABLE CONTRIBUTIONS | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 27. GIFTS | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 28. OTHER (ORDINARY COURSE PROFESSIONALS) | | | - | | | | - | | | | 497,528 | | | | - | | | | - | | | | - | | | | - | | | | 497,528 | |
| 29. TOTAL ORDINARY DISBURSEMENTS | | $ | - | | | $ | - | | | $ | 117,960,695 | | | $ | - | | | $ | - | | | $ | - | | | $ | 41,530,475 | | | $ | 159,491,170 | |
| REORGANIZATION EXPENSES | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 30. PROFESSIONAL FEES | | $ | - | | | $ | - | | | $ | 2,476,452 | | | $ | - | | | $ | - | | | $ | - | | | $ | - | | | $ | 2,476,452 | |
| 31. U.S. TRUSTEE FEES | | | - | | | | - | | | | 501,625 | | | | - | | | | - | | | | - | | | | - | | | | 501,625 | |
| 32. OTHER (SEE BELOW) | | $ | - | | | $ | - | | | $ | - | | | $ | - | | | $ | - | | | $ | - | | | $ | 14,924,467 | | | $ | 14,924,467 | |
| 32a. PRE-PETITION TRADE ORDER PAYMENTS | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 32b. UTILITIES ESCROW DEPOSITS | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 32c. POR EARNEST DEPOSITS RELEASED | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | 14,500,000 | | | | 14,500,000 | |
| 32d. AUTHORIZED KERP PAYMENTS | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | 424,467 | | | | 424,467 | |
| 32e. OTHER EMERGENCE ITEMS | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 32f. RESTRUCTURING PROFESSIONAL ESCROW | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 33. TOTAL REORGANIZATION EXPENSES | | $ | - | | | $ | - | | | $ | 2,978,077 | | | $ | - | | | $ | - | | | $ | - | | | $ | 14,924,467 | | | $ | 17,902,544 | |
| 34. TOTAL DISBURSEMENTS | | $ | - | | | $ | - | | | $ | 120,938,772 | | | $ | - | | | $ | - | | | $ | - | | | $ | 56,454,942 | | | $ | 177,393,714 | |
| 35. NET CASH FLOW | | $ | - | | | $ | - | | | $ | 17,597,419 | | | $ | - | | | $ | - | | | $ | - | | | $ | (41,954,942 | ) | | $ | (24,357,523 | ) |
| 36. CASH - END OF MONTH | | $ | - | | | $ | - | | | $ | 66,501,459 | | | $ | - | | | $ | - | | | $ | - | | | $ | (41,954,942 | ) | | $ | 24,546,517 | |
| NOTES: |
| |
| 1 Includes all cash and credit card in-store sales. |
| |
| 2 Includes all borrowings or repayments against Pre-Petition ABL and Post-Petition DIP. In accordance with conditions required for Plan Confirmation, the Debtors repaid the outstanding balance of $100,000 on their Pre-Petition ABL on December 31, 2020. |
|
| |
| 3 Included in Net Payroll disbursements item #10 |
| |
| 4 Represents freight disbursements |
| | | Monthly Operating Report |
| CASE NAME: | Tuesday Morning Corporation, et al. | CASH BASIS-1 |
| | | CONSOLIDATING DISBURSEMENTS BY LEGAL ENTITY - NOV 1 TO 30, 2020 |
| CASE NUMBER: | 20-31476 (Jointly Administered) | |
| | | NOVEMBER 1 - 30, 2020 BY LEGAL ENTITY | | | | |
| | | | | | | | | TMI | | | | | | | | | | | | TMP | | | | |
CASH RECEIPTS AND
DISBURSEMENTS | | Tuesday Morning Corporation | | | TMI Holdings, Inc. | | | Tuesday Morning, Inc. | | | Friday Morning, LLC | | | Days of the Week, Inc. | | | Nights of the Week, Inc. | | | Tuesday Morning Partners, Ltd. | | | NOV 1 - 30 TOTAL | |
| 1. CASH - BEGINNING OF MONTH | | $ | - | | | $ | - | | | $ | 24,546,517 | | | $ | - | | | $ | - | | | $ | - | | | $ | - | | | $ | 24,546,517 | |
| RECEIPTS | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 2. CASH SALES 1 | | $ | - | | | $ | - | | | $ | 64,477,256 | | | $ | - | | | $ | - | | | $ | - | | | $ | - | | | $ | 64,477,256 | |
| 3. ACCOUNTS RECEIVABLE COLLECTIONS | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 4. LOANS AND ADVANCES 2 | | | - | | | | - | | | | 73,500,000 | | | | - | | | | - | | | | - | | | | - | | | | 73,500,000 | |
| 5. SALE OF ASSETS 3 | | | - | | | | - | | | | 374,580 | | | | - | | | | - | | | | - | | | | - | | | | 374,580 | |
| 6. LEASE & RENTAL INCOME | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 7. WAGES | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 8. OTHER (SEE BELOW) | | $ | - | | | $ | - | | | $ | 4,681,049 | | | $ | - | | | $ | - | | | $ | - | | | $ | - | | | $ | 4,681,049 | |
| 8a. SALES TAXES COLLECTED | | | - | | | | - | | | | 4,681,049 | | | | - | | | | - | | | | - | | | | - | | | | 4,681,049 | |
| 8b. GOB SALES PROCEEDS | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 8c. POR EARNEST MONEY DEPOSITS | | | - | | | | - | | | | - | | �� | | - | | | | - | | | | - | | | | - | | | | - | |
| 8d. EXCESS EXIT FINANCING PROCEEDS | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 9. TOTAL RECEIPTS | | $ | - | | | $ | - | | | $ | 143,032,885 | | | $ | - | | | $ | - | | | $ | - | | | $ | - | | | $ | 143,032,885 | |
| DISBURSEMENTS | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 10. NET PAYROLL | | $ | - | | | $ | - | | | $ | 9,722,209 | | | $ | - | | | $ | - | | | $ | - | | | $ | 3,872,270 | | | $ | 13,594,480 | |
| 11. PAYROLL TAXES PAID 4 | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 12. SALES,USE & OTHER TAXES PAID | | | - | | | | - | | | | 4,314,544 | | | | - | | | | - | | | | - | | | | - | | | | 4,314,544 | |
| 13. INVENTORY PURCHASES | | | - | | | | - | | | | 1,000,948 | | | | - | | | | - | | | | - | | | | 32,917,036 | | | | 33,917,984 | |
| 14. MORTAGE PAYMENTS | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 15. OTHER SECURED NOTE PAYMENTS 2 | | | - | | | | - | | | | 73,540,154 | | | | - | | | | - | | | | - | | | | - | | | | 73,540,154 | |
| 16. RENTAL & LEASE PAYMENTS | | | - | | | | - | | | | 5,736,292 | | | | - | | | | - | | | | - | | | | 26,025 | | | | 5,762,317 | |
| 17. UTILITIES | | | - | | | | - | | | | 1,126,294 | | | | - | | | | - | | | | - | | | | 560 | | | | 1,126,853 | |
| 18. INSURANCE | | | - | | | | - | | | | 181,326 | | | | - | | | | - | | | | - | | | | - | | | | 181,326 | |
| 19. VEHICLE EXPENSES 5 | | | - | | | | - | | | | 5,478,625 | | | | - | | | | - | | | | - | | | | 1,557,621 | | | | 7,036,247 | |
| 20. TRAVEL | | | - | | | | - | | | | 41,788 | | | | - | | | | - | | | | - | | | | - | | | | 41,788 | |
| 21. ENTERTAINMENT | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 22. REPAIRS & MAINTENANCE | | | - | | | | - | | | | 948,949 | | | | - | | | | - | | | | - | | | | 59,680 | | | | 1,008,629 | |
| 23. SUPPLIES | | | - | | | | - | | | | 258,019 | | | | - | | | | - | | | | - | | | | 532,170 | | | | 790,189 | |
| 24. ADVERTISING | | | - | | | | - | | | | 766,086 | | | | - | | | | - | | | | - | | | | - | | | | 766,086 | |
| 25. HOUSEHOLD EXPENSES | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 26. CHARITABLE CONTRIBUTIONS | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 27. GIFTS | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 28. OTHER (ORDINARY COURSE PROFESSIONALS) | | | - | | | | - | | | | 438,342 | | | | - | | | | - | | | | - | | | | - | | | | 438,342 | |
| 29. TOTAL ORDINARY DISBURSEMENTS | | $ | - | | | $ | - | | | $ | 103,553,576 | | | $ | - | | | $ | - | | | $ | - | | | $ | 38,965,362 | | | $ | 142,518,938 | |
| REORGANIZATION EXPENSES | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 30. PROFESSIONAL FEES | | $ | - | | | $ | - | | | $ | 3,260,506 | | | $ | - | | | $ | - | | | $ | - | | | $ | - | | | $ | 3,260,506 | |
| 31. U.S. TRUSTEE FEES | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 32. OTHER (SEE BELOW) | | $ | - | | | $ | - | | | $ | - | | | $ | - | | | $ | - | | | $ | - | | | $ | - | | | $ | - | |
| 32a. PRE-PETITION TRADE ORDER PAYMENTS | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 32b. UTILITIES ESCROW DEPOSITS | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 32c. POR EARNEST DEPOSITS RELEASED | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 32d. AUTHORIZED KERP PAYMENTS | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 32e. OTHER EMERGENCE ITEMS | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 32f. RESTRUCTURING PROFESSIONAL ESCROW | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 33. TOTAL REORGANIZATION EXPENSES | | $ | - | | | $ | - | | | $ | 3,260,506 | | | $ | - | | | $ | - | | | $ | - | | | $ | - | | | $ | 3,260,506 | |
| 34. TOTAL DISBURSEMENTS | | $ | - | | | $ | - | | | $ | 106,814,083 | | | $ | - | | | $ | - | | | $ | - | | | $ | 38,965,362 | | | $ | 145,779,445 | |
| 35. NET CASH FLOW | | $ | - | | | $ | - | | | $ | 36,218,802 | | | $ | - | | | $ | - | | | $ | - | | | $ | (38,965,362 | ) | | $ | (2,746,560 | ) |
| 36. CASH - END OF MONTH | | $ | - | | | $ | - | | | $ | 60,765,319 | | | $ | - | | | $ | - | | | $ | - | | | $ | (38,965,362 | ) | | $ | 21,799,957 | |
| NOTES: |
| |
| 1 Includes all cash and credit card in-store sales. |
| |
| 2 Includes all borrowings or repayments against Pre-Petition ABL and Post-Petition DIP. In accordance with conditions required for Plan Confirmation, the Debtors repaid the outstanding balance of $100,000 on their Pre-Petition ABL on December 31, 2020. |
|
| |
| 3 Represents receipt of final payment from sale of certain fixed assets in Phoenix distribution center approved in August 2020. Refer to Final Order on dkt 740 for details. |
| |
| 4 Included in Net Payroll disbursements item #10 |
| |
| 5 Represents freight disbursements |
| | | | | | Monthly Operating Report |
| CASE NAME: | Tuesday Morning Corporation, et al. | | CASH BASIS-1 |
| | | | | | CONSOLIDATING DISBURSEMENTS BY LEGAL ENTITY - DEC 1 TO 31, 2020 |
| CASE NUMBER: | 20-31476 (Jointly Administered) | | |
| | | DECEMBER 1 - 31, 2020 BY LEGAL ENTITY | | | | |
| | | | | | | | | TMI | | | | | | | | | | | | TMP | | | | |
CASH RECEIPTS AND
DISBURSEMENTS | | Tuesday
Morning
Corporation | | | TMI Holdings,
Inc. | | | Tuesday
Morning, Inc. | | | Friday Morning,
LLC | | | Days of the
Week, Inc. | | | Nights of the
Week, Inc. | | | Tuesday
Morning
Partners, Ltd. | | | DEC 1 - 31
TOTAL | |
| 1. CASH - BEGINNING OF MONTH | | $ | - | | | $ | - | | | $ | 21,799,957 | | | $ | - | | | $ | - | | | $ | - | | | $ | - | | | $ | 21,799,957 | |
| RECEIPTS | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 2. CASH SALES 1 | | $ | - | | | $ | - | | | $ | 84,141,983 | | | $ | - | | | $ | - | | | $ | - | | | $ | - | | | $ | 84,141,983 | |
| 3. ACCOUNTS RECEIVABLE COLLECTIONS | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 4. LOANS AND ADVANCES 2 | | | - | | | | - | | | | 93,500,000 | | | | - | | | | - | | | | - | | | | - | | | | 93,500,000 | |
| 5. SALE OF ASSETS | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 6. LEASE & RENTAL INCOME | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 7. WAGES | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 8. OTHER (SEE BELOW) | | $ | - | | | $ | - | | | $ | 10,149,424 | | | $ | - | | | $ | - | | | $ | - | | | $ | - | | | $ | 10,149,424 | |
| 8a. SALES TAXES COLLECTED | | | - | | | | - | | | | 6,108,708 | | | | - | | | | - | | | | - | | | | - | | | | 6,108,708 | |
| 8b. GOB SALES PROCEEDS | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 8c. POR EARNEST MONEY DEPOSITS | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 8d. EXCESS EXIT FINANCING PROCEEDS | | | - | | | | - | | | | 4,040,716 | | | | - | | | | - | | | | - | | | | - | | | | 4,040,716 | |
| 9. TOTAL RECEIPTS | | $ | - | | | $ | - | | | $ | 187,791,407 | | | $ | - | | | $ | - | | | $ | - | | | $ | - | | | $ | 187,791,407 | |
| DISBURSEMENTS | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 10. NET PAYROLL | | $ | - | | | $ | - | | | $ | 8,874,071 | | | $ | - | | | $ | - | | | $ | - | | | $ | 3,561,245 | | | $ | 12,435,316 | |
| 11. PAYROLL TAXES PAID 3 | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 12. SALES,USE & OTHER TAXES PAID | | | - | | | | - | | | | 5,811,782 | | | | - | | | | - | | | | - | | | | - | | | | 5,811,782 | |
| 13. INVENTORY PURCHASES | | | - | | | | - | | | | 34,938 | | | | - | | | | - | | | | - | | | | 31,328,189 | | | | 31,363,127 | |
| 14. MORTAGE PAYMENTS | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 15. OTHER SECURED NOTE PAYMENTS 2 | | | - | | | | - | | | | 93,538,885 | | | | - | | | | - | | | | - | | | | - | | | | 93,538,885 | |
| 16. RENTAL & LEASE PAYMENTS 4 | | | - | | | | - | | | | 8,735,047 | | | | - | | | | - | | | | - | | | | 59,775 | | | | 8,794,822 | |
| 17. UTILITIES | | | - | | | | - | | | | 1,284,194 | | | | - | | | | - | | | | - | | | | 3,436 | | | | 1,287,630 | |
| 18. INSURANCE | | | - | | | | - | | | | 524,987 | | | | - | | | | - | | | | - | | | | - | | | | 524,987 | |
| 19. VEHICLE EXPENSES 5 | | | - | | | | - | | | | 6,330,255 | | | | - | | | | - | | | | - | | | | 1,186,616 | | | | 7,516,871 | |
| 20. TRAVEL | | | - | | | | - | | | | 76,112 | | | | - | | | | - | | | | - | | | | - | | | | 76,112 | |
| 21. ENTERTAINMENT | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 22. REPAIRS & MAINTENANCE | | | - | | | | - | | | | 1,563,359 | | | | - | | | | - | | | | - | | | | 577,192 | | | | 2,140,551 | |
| 23. SUPPLIES | | | - | | | | - | | | | 551,458 | | | | - | | | | - | | | | - | | | | 429,530 | | | | 980,988 | |
| 24. ADVERTISING | | | - | | | | - | | | | 1,064,900 | | | | - | | | | - | | | | - | | | | - | | | | 1,064,900 | |
| 25. HOUSEHOLD EXPENSES | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 26. CHARITABLE CONTRIBUTIONS | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 27. GIFTS | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 28. OTHER (ORDINARY COURSE PROFESSIONALS) | | | - | | | | - | | | | 617,055 | | | | - | | | | - | | | | - | | | | - | | | | 617,055 | |
| 29. TOTAL ORDINARY DISBURSEMENTS | | $ | - | | | $ | - | | | $ | 129,007,045 | | | $ | - | | | $ | - | | | $ | - | | | $ | 37,145,982 | | | $ | 166,153,027 | |
| REORGANIZATION EXPENSES | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| 30. PROFESSIONAL FEES | | $ | - | | | $ | - | | | $ | 5,631,178 | | | $ | - | | | $ | - | | | $ | - | | | $ | - | | | $ | 5,631,178 | |
| 31. U.S. TRUSTEE FEES | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 32. OTHER (SEE BELOW) | | $ | - | | | $ | - | | | $ | 14,397,270 | | | $ | - | | | $ | - | | | $ | - | | | $ | - | | | $ | 14,397,270 | |
| 32a. PRE-PETITION TRADE ORDER PAYMENTS | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 32b. UTILITIES ESCROW DEPOSITS | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 32c. POR EARNEST DEPOSITS RELEASED | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 32d. AUTHORIZED KERP PAYMENTS | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | | | | - | |
| 32e. OTHER EMERGENCE ITEMS | | | - | | | | - | | | | 1,207,619 | | | | - | | | | - | | | | - | | | | - | | | | 1,207,619 | |
| 32f. RESTRUCTURING PROFESSIONAL ESCROW | | | - | | | | - | | | | 13,189,651 | | | | - | | | | - | | | | - | | | | - | | | | 13,189,651 | |
| 33. TOTAL REORGANIZATION EXPENSES | | $ | - | | | $ | - | | | $ | 20,028,448 | | | $ | - | | | $ | - | | | $ | - | | | $ | - | | | $ | 20,028,448 | |
| 34. TOTAL DISBURSEMENTS | | $ | - | | | $ | - | | | $ | 149,035,493 | | | $ | - | | | $ | - | | | $ | - | | | $ | 37,145,982 | | | $ | 186,181,475 | |
| 35. NET CASH FLOW | | $ | - | | | $ | - | | | $ | 38,755,914 | | | $ | - | | | $ | - | | | $ | - | | | $ | (37,145,982 | ) | | $ | 1,609,932 | |
| 36. CASH - END OF MONTH | | $ | - | | | $ | - | | | $ | 60,555,871 | | | $ | - | | | $ | - | | | $ | - | | | $ | (37,145,982 | ) | | $ | 23,409,889 | |
| NOTES: |
| |
| 1 Includes all cash and credit card in-store sales. |
| |
| 2 Includes all borrowings or repayments against Pre-Petition ABL and Post-Petition DIP. In accordance with conditions required for Plan Confirmation, the Debtors repaid the outstanding balance of $100,000 on their Pre-Petition ABL on December 31, 2020. |
| |
| 3 Included in Net Payroll disbursements item #10 |
| |
| 4 Includes cure payments related to the assumption of Real Property leases for on-going locations. |
| |
| 5 Represents freight disbursements |
| | | Monthly Operating Report |
| | | CASH BASIS-1A |
| | | |
| | | 2020 |
| CASE NAME: | Tuesday Morning Corporation, et al. | |
| | | |
| CASE NUMBER: | 20-31476 (Jointly Administered) | |
| CASH DISBURSEMENTS DETAIL | | | MONTH: | December |
| | | | | | | | |
| CASH DISBURSEMENTS |
| | DATE | PAYEE | PURPOSE | AMOUNT |
| | | | | |
| | | | | |
| | | SEE NOTE 1 BELOW | | |
| | | | | |
| | | | | |
| | | | | |
| | TOTAL CASH DISBURSEMENTS 1 | | | $ 186,181,475 |
| | | | | | | | |
| | | | | | | | |
| BANK ACCOUNT DISBURSEMENTS |
| CK# | DATE | PAYEE | PURPOSE | AMOUNT |
| | | | | |
| | | | | |
| | | | | |
| | | SEE NOTE 2 BELOW | | |
| | | | | |
| | | | | |
| | | | | |
| | | | | |
| | | | | |
| | | | | |
| | | | | |
| | | | | |
| | | | | |
| | | | | |
| | | | | |
| | | | | |
| | TOTAL BANK ACCOUNT DISBURSEMENTS | | | |
| | | | | | | | |
| TOTAL DISBURSEMENTS FOR THE PERIOD | | | | $ 186,181,475 |
| 1 Aside from immaterial petty cash transactions conducted by the stores which are not individually recorded, the Debtors do not make cash disbursements. |
| |
| 2 Debtors process hundreds of individual transactions per week. In many cases these disbursements relate to confidential pricing agreements with merchandise suppliers or other commercially sensitive information. Due to the voluminous and confidential nature of this information, Debtors have excluded details from this MOR. Individual payment line items are available for review on request by the Office of the US Trustee. |
| | Monthly Operating Report |
| | | CASH BASIS-2 |
| | | |
| | | |
| CASE NAME: | Tuesday Morning Corporation, et al. | |
| | | |
| CASE NUMBER: | 20-31476 (Jointly Administered) | |
| | | Acct #1 | | | Acct #2 | | | Acct #3 | | | TOTAL | |
| A. BANK: | | SEE FOLLOWING SCHEDULE OF ACCOUNTS | | | | |
| B. ACCOUNT NUMBER: | | | | | | | | | | | | | | | | |
| C. PURPOSE (TYPE): | | | | | | | | | | | | | | | | |
| 1. BALANCE PER BANK STATEMENT | | | | | | | | | | | | | | $ | 29,482,775 | |
| 2. ADD:TOTAL DEPOSITS NOT CREDITED | | | | | | | | | | | | | | $ | - | |
| 3. SUBTRACT:OUTSTANDING CHECKS | | | | | | | | | | | | | | $ | (6,072,886 | ) |
| 4. OTHER RECONCILING ITEMS | | | | | | | | | | | | | | $ | - | |
| 5. MONTH END BALANCE PER BOOKS | | $ | - | | | $ | - | | | $ | - | | | $ | 23,409,889 | |
| 6. NUMBER OF LAST CHECK WRITTEN | | | | | | | | | | | | | | | | |
INVESTMENT ACCOUNTS
| | | | DATE OF | | | | TYPE OF | | | | PURCHASE | | | | CURRENT | |
| BANK, ACCOUNT NAME & NUMBER | | | PURCHASE | | | | INSTRUMENT | | | | PRICE | | | | VALUE | |
| 7. | | | | | | | | | | | | | | | | |
| 8. | | | | | | | | | | | | | | | | |
| 9. | | | | | | | | | | | | | | | | |
| 10. | | | | | | | | | | | | | | | | |
| 11. TOTAL INVESTMENTS | | | | | | | | | | $ | - | | | $ | - | |
| CASH | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | |
| 12. CURRENCY ON HAND | | | | | | | | | | | | | | $ | - | |
| | | | | | | | | | | | | | | | | |
| 13. TOTAL CASH - END OF MONTH | | | | | | | | | | | | | | $ | 23,409,889 | |
Monthly Operating Report
CASH BASIS-2A
SCHEDULE OF DEBTOR BANK ACCOUNTS
| CASE NAME: | Tuesday Morning Corporation, et al. |
| | |
| CASE NUMBER: | 20-31476 (Jointly Administered) |
| Bank | | GL | | | Nature of Account | | Account
Number | | Balance as of
December 31,
2020 | |
| | | | | | | | | | | |
| Wells Fargo | | | 1013 | | | TMI - AP - NACHA ACH | | xxx3007 | | $ | - | |
| Wells Fargo | | | 1013 | | | TMP - AP - NACHA ACH | | xxx3015 | | | - | |
| Wells Fargo | | | 1015 | | | TMI - Property Tax | | xxx4381 | | | - | |
| Wells Fargo | | | 1018 | | | TMI - Sale Tax II | | xxx3495 | | | 70,497 | |
| Wells Fargo | | | 1020 | | | TMI Main Disbursement | | xxx7526 | | | 3,067,600 | |
| Wells Fargo | | | 1025 | | | Friday Morning, Inc. | | xxx1036 | | | - | |
| Wells Fargo | | | 1025 | | | TMI - Main Cash Concentration | | xxx5063 | | | 1,422,510 | |
| Wells Fargo | | | 1025 | | | TMP - Main | | xxx0097 | | | 6,289,537 | |
| Bank of America | | | 1025 | | | TMP - DP Payments | | xxx5718 | | | - | |
| Wells Fargo | | | 1032 | | | TMI - Visa/MC | | xxx8307 | | | - | |
| Wells Fargo | | | 1033 | | | TMI - Discover | | xxx8299 | | | - | |
| Wells Fargo | | | 1034 | | | TMI - American Express | | xxx7708 | | | - | |
| Community First National | | | 1045 | | | Store #863 Depository Account | | xxx9812 | | | 19 | |
| People Bank | | | 1045 | | | Store #984 Depository Account | | xxx1340 | | | 38 | |
| Hancock Bank | | | 1045 | | | Store #598 Depository Account | | xxx0914 | | | 75 | |
| BBVA/Compass Bank | | | 1045 | | | Stores Depository Account | | xxx9325 | | | 17,090 | |
| Fifth Third Bank | | | 1045 | | | Stores Depository Account | | xxx5683 | | | 4,091 | |
| Regions Bank | | | 1045 | | | Stores Depository Account | | xxx0300 | | | 45,470 | |
| Chase Bank | | | 1045 | | | Stores Depository Account | | xxx3000 | | | 31,385 | |
| PNC Bank | | | 1045 | | | Stores Depository Account | | xxx0704 | | | 3,266 | |
| Wells Fargo | | | 1045 | | | Stores Depository Account | | xxx4140 | | | - | |
| Wells Fargo | | | 1045 | | | Stores Depository Account | | xxx4488 | | | - | |
| Bank of America | | | 1045 | | | Stores Depository Account | | xxx1681 | | | 13,549 | |
| BB&T Bank | | | 1045 | | | Stores Depository Account | | xxx5675 | | | 9,625 | |
| BancFirst Bank | | | 1045 | | | Store #481 Depository Account | | xxx6246 | | | 1,376 | |
| International Bank of Commerce | | | 1045 | | | Stores #953,#1017, #1077 & #1191 Depository Account | | xxx4877 | | | 1,637 | |
| Citizens Bank | | | 1045 | | | Stores Depository Account | | xxx5872 | | | 200 | |
| US Bank | | | 1045 | | | Stores Depository Account | | xxx1357 | | | 2,745 | |
| Key Bank | | | 1045 | | | Stores Depository Account | | xxx4743 | | | 2,160 | |
| Wells Fargo | | | 1056 | | | TMI - ADP - PR Tax & Garnishment | | xxx5892 | | | 525,480 | |
| Wells Fargo | | | 1056 | | | TMP - ADP - PR Tax & Garnishment | | xxx5792 | | | 26,041 | |
| Wells Fargo | | | 1062 | | | TMI - Postage | | xxx2195 | | | 28,778 | |
| Wells Fargo | | | 1070 | | | TMI - Workers Comp | | xxx3193 | | | 31,203 | |
| Wells Fargo | | | 1082 | | | TMI - UHC Medical | | xxx0415 | | | 292,033 | |
| Wells Fargo | | | 1091 | | | TMI - CIGNA Dental/STD | | xxx6906 | | | 151,709 | |
| Wells Fargo | | | 1094 | | | TMI - Tax Saver - FSA | | xxx1184 | | | - | |
| JPMorgan Chase Bank | | | 1099 | | | Cash Holding Account | | xxx7366 | | | 17,444,661 | |
| Wells Fargo | | | 1100 | | | Wells Fargo Brokerage Services | | xxx6142 | | | - | |
| | | | | | | | | | | $ | 29,482,775 | |
Note 1: Excludes individual store depository accounts, which are swept into Intermediate Store Depository Accounts included above. For more information, see the Debtors' Cash Management Motion [Dkt 10]
Note 2: Book to bank reconciliation of each of the Debtors' bank accounts are performed in the ordinary course of business on a monthly basis. Additional support for each of these accounts is available for review on request by the Office of the US Trustee.
Monthly Operating Report
CASH BASIS-3
| CASE NAME: | Tuesday Morning Corporation, et al. |
| | |
| CASE NUMBER: | 20-31476 (Jointly Administered) |
ASSETS OF THE ESTATE
SCHEDULE "A"
REAL PROPERTY | | SCHEDULE
AMOUNT | | | 31-Oct-20 | | | 30-Nov-20 | | | 31-Dec-20 | |
| 1. HQ AND DISTRIBUTION CENTER (AT NBV) | | $ | 22,293,977 | | | $ | 19,192,896 | | | $ | 19,077,506 | | | $ | 100 | |
| 2. | | | | | | | | | | | | | | | | |
| 3. | | | | | | | | | | | | | | | | |
| 4. OTHER (ATTACH LIST) | | | | | | | | | | | | | | | | |
| 5. TOTAL REAL PROPERTY ASSETS | | $ | 22,293,977 | | | $ | 19,192,896 | | | $ | 19,077,506 | | | $ | 100 | |
| SCHEDULE "B" | | | | | | | | | | | | | | | | |
| PERSONAL PROPERTY | | | | | | | | | | | | | | | | |
| 1. CASH ON HAND | | $ | 580,900 | | | $ | 415,900 | | | $ | 415,900 | | | $ | 416,200 | |
| 2. CHECKING, SAVINGS, ETC. | | $ | 16,047,077 | | | $ | 24,546,517 | | | $ | 21,799,957 | | | $ | 23,409,889 | |
| 3. SECURITY DEPOSITS | | $ | 806,583 | | | $ | 892,291 | | | $ | 892,223 | | | $ | 892,385 | |
| 4. HOUSEHOLD GOODS | | | | | | | | | | | | | | | | |
| 5. BOOKS, PICTURES, ART | | | | | | | | | | | | | | | | |
| 6. WEARING APPAREL | | | | | | | | | | | | | | | | |
| 7. FURS AND JEWELRY | | | | | | | | | | | | | | | | |
| 8. FIREARMS & SPORTS EQUIPMENT | | | | | | | | | | | | | | | | |
| 9. INSURANCE POLICIES | | | | | | | | | | | | | | | | |
| 10. ANNUITIES | | | | | | | | | | | | | | | | |
| 11. EDUCATION | | | | | | | | | | | | | | | | |
| 12. RETIREMENT & PROFIT SHARING | | | | | | | | | | | | | | | | |
| 13. STOCKS | | | | | | | | | | | | | | | | |
| 14. PARTNERSHIPS & JOINT VENTURES | | | | | | | | | | | | | | | | |
| 15. GOVERNMENT & CORPORATE BONDS | | | | | | | | | | | | | | | | |
| 16. ACCOUNTS RECEIVABLE | | $ | 889,577 | | | $ | 953,266 | | | $ | 894,820 | | | $ | 1,769,678 | |
| 17. ALIMONY | | | | | | | | | | | | | | | | |
| 18. OTHER LIQUIDATED DEBTS | | | | | | | | | | | | | | | | |
| 19. EQUITABLE INTERESTS | | | | | | | | | | | | | | | | |
| 20. CONTINGENT INTERESTS | | | | | | | | | | | | | | | | |
| 21. OTHER CLAIMS | | $ | 5,374,800 | | | $ | 11,295,884 | | | $ | 11,562,240 | | | $ | 19,372,607 | |
| 22. PATENTS & COPYRIGHTS 1 | | $ | - | | | $ | - | | | $ | - | | | $ | - | |
| 23. LICENSES & FRANCHISES 1 | | $ | - | | | $ | - | | | $ | - | | | $ | - | |
| 24. CUSTOMER LISTS 1 | | $ | - | | | $ | - | | | $ | - | | | $ | - | |
| 25. AUTOS, TRUCKS & OTHER VEHICLES | | $ | 23,943 | | | $ | 783 | | | $ | 391 | | | $ | - | |
| 26. BOATS & MOTORS | | | | | | | | | | | | | | | | |
| 27. AIRCRAFT | | | | | | | | | | | | | | | | |
| 28. OFFICE EQUIPMENT | | $ | 15,234,482 | | | $ | 7,890,130 | | | $ | 7,524,244 | | | $ | 7,819,138 | |
| 29. MACHINERY, FIXTURES & EQUIPMENT | | $ | 65,973,947 | | | $ | 35,905,749 | | | $ | 35,403,570 | | | $ | 34,018,929 | |
| 30. INVENTORY | | $ | 217,542,264 | | | $ | 127,001,428 | | | $ | 131,138,153 | | | $ | 114,423,688 | |
| 31. ANIMALS | | | | | | | | | | | | | | | | |
| 32. CROPS | | | | | | | | | | | | | | | | |
| 33. FARMING EQUIPMENT | | | | | | | | | | | | | | | | |
| 34. FARM SUPPLIES | | | | | | | | | | | | | | | | |
| 35. OTHER (ATTACH LIST) | | | | | | | | | | | | | | | | |
| 36. TOTAL PERSONAL PROPERTY ASSETS | | $ | 322,473,572 | | | $ | 208,901,948 | | | $ | 209,631,498 | | | $ | 202,122,514 | |
| 37. TOTAL ASSETS | | $ | 344,767,549 | | | $ | 228,094,844 | | | $ | 228,709,004 | | | $ | 202,122,614 | |
1 Value of intellectual property and intangibles is excluded as Undetermined,
2 Non Cash Right of Use Assets related to Leased Properties are not included above.
Monthly Operating Report
CASH BASIS-4
| CASE NAME: | Tuesday Morning Corporation, et al. |
| | |
| CASE NUMBER: | 20-31476 (Jointly Administered) |
LIABILITIES OF THE ESTATE
PREPETITION
LIABILITIES | | SCHEDULE
AMOUNT | | | PAYMENTS | |
| 1. SECURED 1 | | $ | 39,210,220 | | | $ | 39,210,220 | |
| 2. PRIORITY 2 | | $ | - | | | | | |
| 3. UNSECURED 3, 4 | | $ | 107,241,762 | | | $ | 9,818,610 | |
| 4. OTHER (ATTACH LIST) | | | | | | | | |
| 5. TOTAL PREPETITION LIABILITIES | | $ | 146,451,982 | | | $ | 49,028,830 | |
| | | | | | | | | |
| POSTPETITION | | DATE | | | AMOUNT | | | DUE | | | AMOUNT | |
| LIABILITIES | | INCURRED | | | OWED | | | DATE | | | PAST DUE | |
| 1. FEDERAL INCOME TAXES | | | | | | | | | | | | | | | | |
| 2. FICA/MEDICARE | | | | | | | | | | | | | | | | |
| 3. STATE TAXES | | | | | | | | | | | | | | | | |
| 4. REAL ESTATE TAXES | | | | | | | | | | | | | | | | |
| 5. OTHER TAXES (ATTACH LIST) | | | | | | | | | | | | | | | | |
| 6. TOTAL TAXES | | | Various | | | $ | - | | | | Various | | | $ | - | |
| OTHER POSTPETITION LIABILITIES INCLUDING TRADE CREDITORS (LIST NAMES OF CREDITORS) | | | | | | | | | | | | | | | | |
| 7. | | | | | | | | | | | | | | | | |
| 8. Total Post-Petition Accounts Payable | | | Various | | | $ | 12,604,717 | | | | Various | | | $ | - | |
| 9. | | | | | | | | | | | | | | | | |
| 10. | | | | | | | | | | | | | | | | |
| 11. | | | | | | | | | | | | | | | | |
| 12. | | | | | | | | | | | | | | | | |
| 13. | | | | | | | | | | | | | | | | |
| 14. | | | | | | | | | | | | | | | | |
| 15. | | | | | | | | | | | | | | | | |
| 16. | | | | | | | | | | | | | | | | |
| 17. | | | | | | | | | | | | | | | | |
| 18. | | | | | | | | | | | | | | | | |
| 19. (IF ADDITIONAL ATTACH LIST) | | | | | | | | | | | | | | | | |
| 20. TOTAL OF LINES 7 - 19 | | | | | | $ | 12,604,717 | | | | | | | $ | - | |
| 21. TOTAL POSTPETITION LIABILITIES | | | | | | $ | 12,604,717 | | | | | | | $ | - | |
1 In accordance with conditions required for Plan Confirmation, the Debtors repaid the outstanding balance of $100,000 on their Pre-Petition ABL on December 31, 2020.
2 The Debtors did not list any Priority liabilities in their Schedules of Assets and Liabilities. Debtors received authority to make payments on account of Pre-Petition Wages and related employee benefits and certain Pre-Petition Taxes Because the authority granted is sufficient to satisfy all known such liabilities, the Debtors do not believe that they have exposure to Priority Claim Liabilities.
3 Payments against unsecured liabilities represent payments made under authority granted in the Debtors' Trade Order to certain foreign vendors, shippers and warehousemen and miscellaneous lien claimants.
4 Includes cure payments related to Real Property and Other Contracts assumed under Debtors' Plan of Reorganization made on 12/31/2020.
| | | Monthly Operating Report |
| | | CASH BASIS-4A |
| CASE NAME: | Tuesday Morning Corporation, et al. | |
| | | |
| CASE NUMBER: | 20-31476 (Jointly Administered) | |
| ACCOUNTS RECEIVABLE AGING | | | | | | | | | | | | | | | | |
| | | | SCHEDULE
AMOUNT | | | | MONTH | | | | MONTH | | | | MONTH | |
| 1. 0 - 30 | | | | | | | | | | | | | | | | |
| 2. 31 - 60 | | | See Note 1 Below | | |
| 3. 61 - 90 | | | | | | | | | | | | | | | | |
| 4. 91 + | | | | | | | | | | | | | | | | |
| 5. TOTAL ACCOUNTS RECEIVABLE | | $ | - | | | $ | - | | | $ | - | | | $ | - | |
| 6. AMOUNT CONSIDERED UNCOLLECTIBLE | | | | | | | | | | | | | | | | |
| 7. ACCOUNTS RECEIVABLE (NET) | | $ | - | | | $ | - | | | $ | - | | | $ | - | |
| AGING OF POSTPETITION TAXES | | | | | | | | | | |
| AND PAYABLES | | | | | | | | | | |
| | 0 - 30 | | 31-60 | | | 90+ | | | | |
| | DAYS | | DAYS | | | DAYS | | | Total | |
| TAXES PAYABLE | | | | | | | | | | | | | | |
| 1. FEDERAL | | | | | | | | | | | | $ | - | |
| 2. STATE | | | | | | | | | | | | $ | - | |
| 3. LOCAL | | | | | | | | | | | | $ | - | |
| 4. OTHER (ATTACH LIST) | | | | | | | | | | | | $ | - | |
| 5. TOTAL TAXES PAYABLE | $ | - | | $ | - | | | $ | - | | | $ | - | |
| | | | | | | | | | | | | | | |
| 6. ACCOUNTS PAYABLE | $ | 12,604,717 | | $ | - | | | $ | - | | | $ | 12,604,717 | |
| STATUS OF POSTPETITION TAXES | | | | | | | | | | | | | | | | |
| | | | BEGINNING | | | | AMOUNT | | | | | | | | ENDING | |
| | | | TAX | | | | WITHHELD | | | | AMOUNT | | | | TAX | |
| FEDERAL | | | LIABILITY | | | | OR ACCRUED | | | | PAID | | | | LIABILITY | |
| 1. WITHHOLDING | | | | | | | | | | | | | | $ | - | |
| 2. FICA-EMPLOYEE | | | | | | | | | | | | | | $ | - | |
| 3. FICA-EMPLOYER | | | | | | | | | | | | | | $ | - | |
| 4. UNEMPLOYMENT | | | | | | | | | | | | | | $ | - | |
| 5. INCOME | | | | | | | | | | | | | | $ | - | |
| 6. OTHER (ATTACH LIST) | | | | | | | | | | | | | | $ | - | |
| 7. TOTAL FEDERAL TAXES | | $ | - | | | $ | - | | | $ | - | | | $ | - | |
| STATE AND LOCAL | | | | | | | | | | | | | | $ | - | |
| 8. WITHHOLDING | | | | | | | | | | | | | | $ | - | |
| 9. SALES | | | | | | | | | | | | | | $ | - | |
| 10. EXCISE | | | | | | | | | | | | | | $ | - | |
| 11. UNEMPLOYMENT | | | | | | | | | | | | | | $ | - | |
| 12. REAL PROPERTY | | | | | | | | | | | | | | $ | - | |
| 13. PERSONAL PROPERTY | | | | | | | | | | | | | | $ | - | |
| 14. OTHER (ATTACH LIST) | | | | | | | | | | | | | | $ | - | |
| 15. TOTAL STATE & LOCAL | | $ | - | | | $ | - | | | $ | - | | | $ | - | |
| 16. TOTAL TAXES | | $ | - | | | $ | - | | | $ | - | | | $ | - | |
NOTE: The Debtors were granted authority under their Tax Order [Dkt 97] to pay certain pre-petition taxes in the ordinary course of business. To the best of Debtors' information and belief, Debtors are current and remain current in their payment of all taxes included in the tables above.
1 Debtors' sales are conducted in real-time in-store. The Debtors do not offer credit to customers and therefore do not have material Accounts Receivable at any time. Book A/R, if any, relates primarily to reimbursements due from landlords for tenant improvement allowances authorized under certain real property leases
| | | Monthly Operating Report |
| CASE NAME: | Tuesday Morning Corporation, et al. | CASH BASIS-5 |
| | | |
| CASE NUMBER: | 20-31476 (Jointly Administered) | |
| | | | | MONTH: | December |
| | | | | | |
| PAYMENTS TO INSIDERS AND PROFESSIONALS | | | | |
| | | | | | |
| INSIDERS | | |
| NAME | TYPE OF PAYMENT | AMOUNT PAID | TTL PD TO DATE | | |
| [***] | [***] | [***] | [***] | | |
| [***] | [***] | [***] | [***] | | |
| SEE CERTIFICATION 1 BELOW | | |
| [***] | [***] | [***] | [***] | | |
| [***] | [***] | [***] | [***] | | |
| TOTAL PAYMENTS TO INSIDERS | [***] | [***] | | |
| PROFESSIONALS |
| | | DATE OF COURT ORDER | | AMOUNT | | | AMOUNT | | | TTL PAID | | | TOTAL INCURRED | |
| NAME | | AUTHORIZING PAYMENT | | APPROVED | | | PAID | | | TO DATE | | | & UNPAID | |
| 1. Haynes & Boone | | | | | | | | $ | 466,707 | | | $ | 3,060,876 | | | $ | 2,166,241 | |
| 2. Squire Patton Boggs | | | | | | | | | 42,793 | | | | 91,836 | | | | 52,000 | |
| 3. AlixPartners | | | | | | | | | 1,337,958 | | | | 5,338,457 | | | | 1,436,064 | |
| 4. Stifel / Miller Buckfire | | | | | | | | | 120,000 | | | | 1,244,048 | | | | 6,047,810 | |
| 5. Vinson & Elkins | | | | | | | | | 1,339,754 | | | | 2,542,912 | | | | - | |
| 6. Berkley Research Group | | | | | | | | | 331,590 | | | | 964,190 | | | | - | |
| 7. Montgomery McCracken Walker & Rhoads | | | | | | | | | 229,998 | | | | 1,558,721 | | | | 410,487 | |
| 8. BDO | | | | | | | | | 381,987 | | | | 1,352,312 | | | | 266,095 | |
| 9. Munsch Hardt | | | | | | | | | 59,081 | | | | 316,134 | | | | 113,398 | |
| 10. Great American Group | | Dkt 197 - 6/9/2020 | | | | | | | - | | | | 1,995,889 | | | | - | |
| 11. A&G Realty Partners | | Dkt 139 - 6/2/2020 | | | | | | | - | | | | 1,728,308 | | | | - | |
| 12. Epiq Systems | | Dkt 100 - 5/29/2020 | | | | | | | 469,725 | | | | 1,324,006 | | | | 130,000 | |
| 13. Merrill Communications | | | | | | | | | 7,707 | | | | 38,788 | | | | - | |
| 14. Willkie Farr & Gallagher | | | | | | | | | 40,000 | | | | 332,888 | | | | - | |
| 15. Pachulski Stang Ziehl & Jones | | | | | | | | | 444,347 | | | | 444,347 | | | | 859,438 | |
| 16 PJ Solomon | | | | | | | | | 359,532 | | | | 359,532 | | | | 837,157 | |
| 17 Piper Sandler | | | | | | | | | - | | | | - | | | | 1,623,676 | |
| TOTAL PAYMENTS TO PROFESSIONALS | | | | $ | - | | | $ | 5,631,178 | | | $ | 22,693,241 | | | $ | 13,942,365 | 1 |
| POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE PROTECTION PAYMENTS |
| | | | | |
| | SCHEDULED | AMOUNTS | TOTAL |
| | MONTHLY | PAID | UNPAID |
| NAME OF CREDITOR | PAYMENTS | DURING | POST- |
| | DUE | MONTH | PETITION |
| [***] | [***] | [***] | [***] |
| [***] | [***] | [***] | [***] |
| SEE CERTIFICATION 2 BELOW |
| [***] | [***] | [***] | [***] |
| [***] | [***] | [***] | [***] |
| 6. TOTAL | [***] | [***] | [***] |
CERTIFICATION 1 - PAYMENTS TO INSIDERS
I, STACIE SHIRLEY, hereby certify that only customary wages have been paid to insiders during this reporting period.
There have been no bonuses, loans or other amounts paid aside from ordinary course compensation
CERTIFICATION 2 - POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE & ADEQUATE PROTECTION PAYMENTS
I, STACIE SHIRLEY, hereby certify that to the best of my knowledge Debtors are current on any and all Post-Petition amounts due on account of Secured Notes, Leases Payable and Adequate Protection Payments
1 Per conditions of emergence, Debtors funded an escrow account for the remaining, unpaid balances of professional fees on 12/30/2020.
| | | Monthly Operating Report |
| CASE NAME: | Tuesday Morning Corporation, et al. | CASH BASIS-6 |
| | | 2020 |
| CASE NUMBER: | 20-31476 (Jointly Administered) | |
| QUESTIONNAIRE | | | |
| | | | YES | NO |
| 1. | HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE
THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD? | X
See Note 1 | |
| 2. | HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT
OTHER THAN A DEBTOR IN POSSESSION ACCOUNT? | | X |
| 3. | ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES OR
LOANS) DUE FROM RELATED PARTIES? | | X |
| 4. | HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES
THIS REPORTING PERIOD? | Y
See Note 2 | |
| 5. | HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE
DEBTOR FROM ANY PARTY? | Y
See Note 3 | |
| 6. | ARE ANY POSTPETITION PAYROLL TAXES PAST DUE? | | X |
| 7. | ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES
PAST DUE? | | X |
| 8. | ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE? | | X |
| 9. | ARE ANY OTHER POSTPETITION TAXES PAST DUE? | | X |
| 10. | ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS
DELINQUENT? | | X |
| 11. | HAVE ANY PREPETITION TAXES BEEN PAID DURING THE
REPORTING PERIOD? | Y
See Note 4 | |
| 12. | ARE ANY WAGE PAYMENTS PAST DUE? | | X |
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "YES"; PROVIDE A DETAILED EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY.
Note 1: In connection with the Confirmed Plan of Reorganization, the Debtors closed a sale-leaseback transaction for their Dallas headquarters and distribution facility on 12/31/2020. See dkt 1633 for details of this transaction.
Note 2: Debtors have made certain payments on Pre-Petition items only where authorized under and in compliance with various orders of the Court including Insurance [dkt 108], Taxes [dkt 97], Wages [dkt 69], Cash Management [dkt 68], Trade [dkt 330]. These disbursements are included on relevant pages within this Monthly Operating Report. Further, the Debtors paid the $100,000 outstanding amount on their pre-petition ABL on December 31, 2020.
Note 3: Debtors have received Post-Petition Financing in accordance with their Motion to Obtain Post-Petition Financing [dkt 19 and dkt 90] and the Interim and Final Orders, thereto [dkt 67 and dkt 331, respectively]
These disbursements are included on relevant pages within this Monthly Operating Report. These facilities terminated upon the Debtors' emergence from Chapter 11 on 12/31/2020 and Debtors' entered into Exit Financing as more fully described in the Confirmed Plan of Reorganization [dkt 1633].
Note 4: Debtors have made certain payments on Pre-Petition Taxes only where authorized under and in compliance with related orders of the Court with respect to Tax obligations [dkt 97] These disbursements are included on relevant pages within this Monthly Operating Report.
| INSURANCE | | | | | | | |
| | | | | | | | | YES | NO |
| 1. | ARE WORKER'S COMPENSATION, GENERAL LIABILITY AND OTHER
NECESSARY INSURANCE COVERAGES IN EFFECT? | X | |
| 2. | ARE ALL PREMIUM PAYMENTS PAID CURRENT? | X | |
| 3. | PLEASE ITEMIZE POLICIES BELOW | See Note 5 | |
IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "NO" OR IF ANY POLICIES HAVE BEEN CANCELED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN EXPLANATION BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY.
Note 5: Please refer to Debtors' Insurance Motion [dkt 11] for details of all of Debtors' Insurance Policies.
| | | | | | | | | | |
| INSTALLMENT PAYMENTS | | | | | | | |
| TYPE OF | | | PERIOD | PAYMENT AMOUNT |
| POLICY | CARRIER | COVERED | & FREQUENCY |
| | | | | | | |
| | | | | | | |
| SEE NOTE 5 ABOVE | | | | | | |
| | | | | | | |
| | | | | | | |
