Exhibit 99.1
------------
UNITED STATES BANKRUPTCY COURT
__________ DISTRICT OF __________
In: Grand Union Case No. 00-39613(NW)
---------------- ------------
Debtor
MONTHLY OPERATING REPORT (February 4-March 3)
File with Court and submit copy to United States Trustee within 20
days after end of month
Submit copy of report to any official committee appointed in the case.
- --------------------------------------------------------------- ------------------ ------------------- ------------------
REQUIRED DOCUMENTS Form No. Document Explanation
Attached Attached
- --------------------------------------------------------------- ------------------ ------------------- ------------------
Schedule of Cash Receipts and Disbursements MOR-1 X
- --------------------------------------------------------------- ------------------ ------------------- ------------------
Bank Reconciliation (or copies of debtor's bank MOR-1 (CONT) Sent to Trustee
reconciliations)
- --------------------------------------------------------------- ------------------ ------------------- ------------------
Copies of bank statements
- --------------------------------------------------------------- ------------------ ------------------- ------------------
Cash disbursements journals
- --------------------------------------------------------------- ------------------ ------------------- ------------------
Statement of Operations MOR-2 X
- --------------------------------------------------------------- ------------------ ------------------- ------------------
Balance Sheet MOR-3 X
- --------------------------------------------------------------- ------------------ ------------------- ------------------
Status of Postpetition Taxes MOR-4 X
- --------------------------------------------------------------- ------------------ ------------------- ------------------
Copies of IRS Form 6123 or payment receipt
- --------------------------------------------------------------- ------------------ ------------------- ------------------
Copies of tax returns filed during reporting period
- --------------------------------------------------------------- ------------------ ------------------- ------------------
Summary of Unpaid Postpetition Debts MOR-4 X
- --------------------------------------------------------------- ------------------ ------------------- ------------------
Listing of aged accounts payable
- --------------------------------------------------------------- ------------------ ------------------- ------------------
Accounts Receivable Reconciliation and Aging MOR-5 X
- --------------------------------------------------------------- ------------------ ------------------- ------------------
Debtor Questionnaire MOR-5 X
- --------------------------------------------------------------- ------------------ ------------------- ------------------
I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and
the attached documents are true and correct to the best of my knowledge and
belief.
- ------------------------------------------------------- ----------------------------------------------------
Signature of Debtor Date
- ------------------------------------------------------- ----------------------------------------------------
Signature of Joint Debtor Date
/s/ Jeffrey P. Freimark
- ------------------------------------------------------- ----------------------------------------------------
Signature of Authorized Individual* Date
Jeffrey P. Freimark April 5, 2001
- ------------------------------------------------------- ----------------------------------------------------
Printed Name of Authorized Individual Date
*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.
5
In re: Grand Union Case No. 00-39613 (NW)
----------- -------------
Debtor Reporting Period: March 3, 2001
-------------
SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS
Amounts reported should be per the debtor's books, not the bank statement. The
beginning cash should be the ending cash from the prior month or, if this is the
first report, the amount should be the balance on the date the petition was
filed. The amounts reported in the "CURRENT MONTH - ACTUAL" column must equal
the sum of the four bank account columns. The amounts reported in the
"PROJECTED" column should be taken from the SMALL BUSINESS INITIAL REPORT (FORM
IR-1). Attach copies of the bank statements and the cash disbursements journal.
The total disbursement listed in the disbursements journal must equal the total
disbursements reported on this page. A bank reconciliation must be attached for
each account. [See MOR-1 (CON'T)]
SEE ATTACHED DETAIL
-----------------------------------------------------------------------------------------------------------------------------
BANK ACCOUNTS CURRENT MONTH CUMULATIVE FILING TO
DATE
OPER. PAYROLL TAX OTHER ACTUAL PROJECTED ACTUAL PROJECTED
-----------------------------------------------------------------------------------------------------------------------------
CASH BEGINNING OF MONTH
-----------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------
RECEIPTS
-----------------------------------------------------------------------------------------------------------------------------
CASH SALES
-----------------------------------------------------------------------------------------------------------------------------
ACCOUNTS RECEIVABLE
-----------------------------------------------------------------------------------------------------------------------------
LOANS AND ADVANCES
-----------------------------------------------------------------------------------------------------------------------------
SALE OF ASSETS
-----------------------------------------------------------------------------------------------------------------------------
OTHER (ATTACH LIST)
-----------------------------------------------------------------------------------------------------------------------------
TRANSFERS (FROM DIP ACCTS)
-----------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------
TOTAL RECEIPTS
-----------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------
DISBURSEMENTS
-----------------------------------------------------------------------------------------------------------------------------
NET PAYROLL
-----------------------------------------------------------------------------------------------------------------------------
PAYROLL TAXES
-----------------------------------------------------------------------------------------------------------------------------
SALES, USE & OTHER TAXES
-----------------------------------------------------------------------------------------------------------------------------
INVENTORY PURCHASES
-----------------------------------------------------------------------------------------------------------------------------
SECURED/ RENTAL/LEASES
-----------------------------------------------------------------------------------------------------------------------------
INSURANCE
-----------------------------------------------------------------------------------------------------------------------------
ADMINISTRATIVE
-----------------------------------------------------------------------------------------------------------------------------
SELLING
-----------------------------------------------------------------------------------------------------------------------------
OTHER (ATTACH LIST)
-----------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------
OWNER DRAW*
-----------------------------------------------------------------------------------------------------------------------------
TRANSFERS (TO DIP ACCTS)
-----------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------
PROFESSIONAL FEES
-----------------------------------------------------------------------------------------------------------------------------
U.S. TRUSTEE QUARTERLY FEES
-----------------------------------------------------------------------------------------------------------------------------
COURT COSTS
-----------------------------------------------------------------------------------------------------------------------------
TOTAL DISBURSEMENTS
-----------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------
NET CASH FLOW
-----------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------
CASH - END OF MONTH
-----------------------------------------------------------------------------------------------------------------------------
*COMPENSATION TO SOLE PROPRIETORS FOR SERVICES RENDERED TO BANKRUPTCY ESTATE
THE FOLLOWING SECTION MUST BE COMPLETED
- ---------------------------------------------------------------------------------------------------------------- -------------
DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES: (FROM CURRENT MONTH ACTUAL COLUMN)
- ---------------------------------------------------------------------------------------------------------------- -------------
TOTAL DISBURSEMENTS $
- ---------------------------------------------------------------------------------------------------------------- -------------
LESS: TRANSFERS TO DEBTOR IN POSSESSION ACCOUNTS $
- ---------------------------------------------------------------------------------------------------------------- -------------
PLUS: ESTATE DISBURSEMENTS MADE BY OUTSIDE SOURCE (i.e. from escrow accounts) $
- ---------------------------------------------------------------------------------------------------------------- -------------
TOTAL DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES $
- ----------------------------------------------------------------------------------------------------------------- ------------
FORM MOR-1
(9-99)
6
The Grand Union Company Case No. 00-39613 (NW)
- ----------------------- -------------
Debtor Reporting Period: March 3, 2001
-------------
THE GRAND UNION COMPANY
- -----------------------
CONSOLIDATED STATEMENT OF CASH FLOWS
- ------------------------------------
(dollars in thousands)
- ----------------------
(unaudited)
- -----------
---------------------------------------------
4 Weeks 152 Days
Ended Ended
March 3, March 3,
2001 2001
---------------------------------------------
OPERATING ACTIVITIES:
Net (loss) $(121,080) $(163,488)
Adjustments to reconcile net income (loss) to net
cash provided by (used for) operating
activities before reorganization items paid:
Unusual items 1,548 8,147
Cumulative effect of accounting change - -
Extraordinary items - -
Depreciation and amortization 3,759 21,382
Pension and other non-cash items 361 2,034
Deferred taxes - -
Non-cash interest 156 847
Gain on sale of property - (821)
Net changes in assets and liabilities: 40,913
Receivables 625 1,111
Inventories 25,876 38,001
Other current assets 29,986 (716)
Other assets (4,261) 136
Accounts payable and accrued liabilities (33,311) (80,427)
Other noncurrent liabilities 23,045 21,729
---------------------------------------------
Net cash provided by (used for) operating
activities before reorganization items paid (32,383) (110,362)
Reorganization items paid - -
---------------------------------------------
Net cash provided by (used for) operating activities (32,383) (110,362)
---------------------------------------------
INVESTMENT ACTIVITIES:
Capital expenditures - (4,114)
Proceeds from sale of property - -
Disposals of property 8,313 15,384
---------------------------------------------
Net cash provided by (used for) investment activities 8,313 11,270
---------------------------------------------
FINANCING ACTIVITIES:
Proceeds from Revolving Credit Facility - 7,801
Proceeds from DIP facility 25,000 102,074
Repayment of Term Loan - (66)
Repayment of Revolving Credit Facility - -
Repayment of DIP Facility (6,000) (82,646)
Auction Bid Escrow 34,980 135,525
Obligations under capital leases discharged (320) (1,859)
---------------------------------------------
Net cash provided by (used for) financing activities 53,660 160,829
---------------------------------------------
Net increase (decrease) in cash 29,590 61,738
Cash at beginning of period 48,699 16,551
---------------------------------------------
Cash at end of period $78,289 $78,289
=============================================
7
The Grand Union Company Case No. 00-39613 (NW)
- ----------------------- -------------
Debtor Reporting Period: March 3, 2001
-------------
BALANCE SHEET
The Balance Sheet is to be completed on an accrual basis only. Pre-petition
liabilities must be classified separately from postpetition obligations.
- -----------------------------------------------------------------------------------------------------------------------------------
ASSETS BOOK VALUE AT END OF CURRENT BOOK VALUE ON PETITION DATE
REPORTING MONTH
- -----------------------------------------------------------------------------------------------------------------------------------
March 3, 2001 October 2, 2000
- -----------------------------------------------------------------------------------------------------------------------------------
CURRENT ASSETS
- -----------------------------------------------------------------------------------------------------------------------------------
Unrestricted Cash and Equivalents 78,289 31,222
- -----------------------------------------------------------------------------------------------------------------------------------
Restricted Cash and Cash Equivalents (see continuation sheet)
- -----------------------------------------------------------------------------------------------------------------------------------
Accounts Receivable (Net) 26,911 29,140
- -----------------------------------------------------------------------------------------------------------------------------------
Notes Receivable
- -----------------------------------------------------------------------------------------------------------------------------------
Inventories (224) 116,876
- -----------------------------------------------------------------------------------------------------------------------------------
Prepaid Expenses 13,942 5,810
- -----------------------------------------------------------------------------------------------------------------------------------
Professional Retainers
- -----------------------------------------------------------------------------------------------------------------------------------
Other Current Assets (attach schedule)
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL CURRENT ASSETS $ 118,918 $ 183,048
- -----------------------------------------------------------------------------------------------------------------------------------
PROPERTY AND EQUIPMENT
- -----------------------------------------------------------------------------------------------------------------------------------
Real Property and Improvements
- -----------------------------------------------------------------------------------------------------------------------------------
Machinery and Equipment
- -----------------------------------------------------------------------------------------------------------------------------------
Furniture, Fixtures and Office Equipment
- -----------------------------------------------------------------------------------------------------------------------------------
Leasehold Improvements
- -----------------------------------------------------------------------------------------------------------------------------------
Vehicles
- -----------------------------------------------------------------------------------------------------------------------------------
Less Accumulated Depreciation
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL PROPERTY & EQUIPMENT $ - $ 345,187
- -----------------------------------------------------------------------------------------------------------------------------------
OTHER ASSETS
- -----------------------------------------------------------------------------------------------------------------------------------
Loans to Insiders*
- -----------------------------------------------------------------------------------------------------------------------------------
Other Assets (attach schedule) 46,261 60,215
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL OTHER ASSETS $ 46,261 $ 60,215
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL ASSETS $ 165,179 $ 588,450
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
LIABILITIES AND OWNER EQUITY BOOK VALUE AT END OF CURRENT BOOK VALUE ON PETITION DATE
REPORTING MONTH
- -----------------------------------------------------------------------------------------------------------------------------------
LIABILITIES NOT SUBJECT TO COMPROMISE (Post-Petition)
- -----------------------------------------------------------------------------------------------------------------------------------
Accounts Payable (99,630) (162,593)
- -----------------------------------------------------------------------------------------------------------------------------------
Taxes Payable (refer to FORM MOR-4)
- -----------------------------------------------------------------------------------------------------------------------------------
Wages Payable
- -----------------------------------------------------------------------------------------------------------------------------------
Notes Payable (20,000) (263,060)
- -----------------------------------------------------------------------------------------------------------------------------------
Rent / Leases - Building/Equipment (4,173) (160,737)
- -----------------------------------------------------------------------------------------------------------------------------------
Secured Debt / Adequate Protection Payments
- -----------------------------------------------------------------------------------------------------------------------------------
Professional Fees
- -----------------------------------------------------------------------------------------------------------------------------------
Amounts Due to Insiders*
- -----------------------------------------------------------------------------------------------------------------------------------
Other Postpetition Liabilities (attach schedule) (50,104) (210,800)
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL POSTPETITION LIABILITIES $ (173,907) $ (797,190)
- -----------------------------------------------------------------------------------------------------------------------------------
LIABILITIES SUBJECT TO COMPROMISE (Pre-Petition)
- -----------------------------------------------------------------------------------------------------------------------------------
Secured Debt (263,060)
- -----------------------------------------------------------------------------------------------------------------------------------
Priority Debt
- -----------------------------------------------------------------------------------------------------------------------------------
Unsecured Debt (118,449)
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL PRE-PETITION LIABILITIES $ (381,509) $ -
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL LIABILITIES $ (555,416) $ (797,190)
- -----------------------------------------------------------------------------------------------------------------------------------
OWNER EQUITY
- -----------------------------------------------------------------------------------------------------------------------------------
Capital Stock (300) (300)
- -----------------------------------------------------------------------------------------------------------------------------------
Additional Paid in Capital (384,800) (384,800)
- -----------------------------------------------------------------------------------------------------------------------------------
Partners' Capital Account
- -----------------------------------------------------------------------------------------------------------------------------------
Owner's Equity Account
- -----------------------------------------------------------------------------------------------------------------------------------
Retained Earnings - Pre-Petition 593,840 593,840
- -----------------------------------------------------------------------------------------------------------------------------------
Retained Earnings - Post-Petition 181,497
- -----------------------------------------------------------------------------------------------------------------------------------
Adjustments to Owner Equity (attach schedule)
- -----------------------------------------------------------------------------------------------------------------------------------
Postpetition Contributions (Distributions) (Draws) (attach
schedule)
- -----------------------------------------------------------------------------------------------------------------------------------
NET OWNER EQUITY $ 390,237 $ 208,740
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
TOTAL LIABILITIES AND OWNERS' EQUITY $ (165,179) $ (588,450)
- -----------------------------------------------------------------------------------------------------------------------------------
FORM MOR-3
* "Insider is defined in 11 U.S.C. Section 101(31). (9/99)
8
The Grand Union Company Case No. 00-39613 (NW)
- ----------------------- -------------
Debtor Reporting Period: March 3, 2001
-------------
BALANCE SHEET
- -----------------------------------------------------------------------------------------------------------------------------------
ASSETS BOOK VALUE AT END OF CURRENT BOOK VALUE ON PETITION DATE
REPORTING MONTH
- -----------------------------------------------------------------------------------------------------------------------------------
March 3, 2001 October 2, 2000
- -----------------------------------------------------------------------------------------------------------------------------------
Other Current Assets
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
Other Assets
- -----------------------------------------------------------------------------------------------------------------------------------
Beneficial leases, net 40,197 48,026
- -----------------------------------------------------------------------------------------------------------------------------------
Other assets 6,064 12,189
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
LIABILITIES AND OWNER EQUITY BOOK VALUE AT END OF CURRENT BOOK VALUE ON PETITION DATE
REPORTING MONTH
- -----------------------------------------------------------------------------------------------------------------------------------
Other Postpetition Liabilities
- -----------------------------------------------------------------------------------------------------------------------------------
Adverse leases, net - (61,079)
- -----------------------------------------------------------------------------------------------------------------------------------
Other noncurrent liabilities (50,104) (149,721)
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
Adjustments to Owner Equity
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
Postpetition Contributions (Distributions) (Draws)
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------------------
9
The Grand Union Company Case No. 00-39613 (NW)
- ----------------------- -------------
Debtor Reporting Period: March 3, 2001
-------------
STATEMENT OF OPERATIONS
(Income Statement)
The Statement of Operations is to be prepared on an accrual basis. The accrual
basis of accounting recognizes revenue when it is realized and expenses when
they are incurred, regardless of when cash is actually received or paid.
- -------------------------------------------------------------------------------------------------------------------------
REVENUES 28 days ended 152 days ended
March 3, 2001 March 3, 2001
- -------------------------------------------------------------------------------------------------------------------------
Gross Revenues 126,910 750,217
- -------------------------------------------------------------------------------------------------------------------------
Less: Returns and Allowances - -
- -------------------------------------------------------------------------------------------------------------------------
Net Revenue 126,910 750,217
- -------------------------------------------------------------------------------------------------------------------------
COST OF GOODS SOLD
- -------------------------------------------------------------------------------------------------------------------------
Beginning Inventory 104,676 116,875
- -------------------------------------------------------------------------------------------------------------------------
Add: Purchases (9,718) 434,977
- -------------------------------------------------------------------------------------------------------------------------
Add: Cost of Labor - -
- -------------------------------------------------------------------------------------------------------------------------
Add: Other Costs (attach schedule) 11,672 18,970
- -------------------------------------------------------------------------------------------------------------------------
Less: Ending Inventory (224) (224)
- -------------------------------------------------------------------------------------------------------------------------
Cost of Goods Sold 106,854 571,046
- -------------------------------------------------------------------------------------------------------------------------
Gross Profit 20,057 179,170
- -------------------------------------------------------------------------------------------------------------------------
OPERATING EXPENSES
- -------------------------------------------------------------------------------------------------------------------------
Advertising 1,310 7,952
- -------------------------------------------------------------------------------------------------------------------------
Auto and Truck Expense - -
- -------------------------------------------------------------------------------------------------------------------------
Bad Debts - -
- -------------------------------------------------------------------------------------------------------------------------
Contributions - -
- -------------------------------------------------------------------------------------------------------------------------
Employee Benefits Programs 2,776 15,055
- -------------------------------------------------------------------------------------------------------------------------
Insider Compensation - -
- -------------------------------------------------------------------------------------------------------------------------
Insurance 1,596 8,757
- -------------------------------------------------------------------------------------------------------------------------
Management Fees/Bonuses - 44
- -------------------------------------------------------------------------------------------------------------------------
Office Expense - -
- -------------------------------------------------------------------------------------------------------------------------
Pension & Profit-Sharing Plans 197 1,069
- -------------------------------------------------------------------------------------------------------------------------
Repairs and Maintenance 1,691 9,991
- -------------------------------------------------------------------------------------------------------------------------
Rent and Lease Expense 3,823 20,576
- -------------------------------------------------------------------------------------------------------------------------
Salaries/Commissions/Fees 16,368 93,224
- -------------------------------------------------------------------------------------------------------------------------
Supplies 783 5,015
- -------------------------------------------------------------------------------------------------------------------------
Taxes-Payroll 1,558 8,208
- -------------------------------------------------------------------------------------------------------------------------
Taxes-Real Estate 789 4,644
- -------------------------------------------------------------------------------------------------------------------------
Taxes-Other - -
- -------------------------------------------------------------------------------------------------------------------------
Travel and Entertainment - -
- -------------------------------------------------------------------------------------------------------------------------
Utilities 2,278 16,895
- -------------------------------------------------------------------------------------------------------------------------
Other (attach schedule) 4,470 2,598
- -------------------------------------------------------------------------------------------------------------------------
Total Operating Expenses Before Depreciation 37,639 194,029
- -------------------------------------------------------------------------------------------------------------------------
Depreciation/Depletion/Amortization 3,156 43,074
- -------------------------------------------------------------------------------------------------------------------------
Net Profit (Loss) Before Other Income & Expenses (20,738) (57,932)
- -------------------------------------------------------------------------------------------------------------------------
OTHER INCOME AND EXPENSES
- -------------------------------------------------------------------------------------------------------------------------
Other Income (attach schedule) - -
- -------------------------------------------------------------------------------------------------------------------------
Interest Expense 3,862 23,396
- -------------------------------------------------------------------------------------------------------------------------
Other Expense (attach schedule) 94,931 92,020
- -------------------------------------------------------------------------------------------------------------------------
Net Profit (Loss) Before Reorganization Items (119,531) (173,349)
- -------------------------------------------------------------------------------------------------------------------------
REORGANIZATION ITEMS
- -------------------------------------------------------------------------------------------------------------------------
Professional Fees - -
- -------------------------------------------------------------------------------------------------------------------------
U.S. Trustee Quarterly Fees - -
- -------------------------------------------------------------------------------------------------------------------------
Interest Earned on Accumulated Cash from Chapter 11 (see continuation sheet) - -
- -------------------------------------------------------------------------------------------------------------------------
Gain (Loss) from Sale of Equipment - -
- -------------------------------------------------------------------------------------------------------------------------
Other Reorganization Expenses (attach schedule) 1,548 8,148
- -------------------------------------------------------------------------------------------------------------------------
Total Reorganization Expenses - -
- -------------------------------------------------------------------------------------------------------------------------
Income Taxes - -
- -------------------------------------------------------------------------------------------------------------------------
Net Profit (Loss) (121,080) (181,497)
- -------------------------------------------------------------------------------------------------------------------------
10
The Grand Union Company Case No. 00-39613 (NW)
- ----------------------- -------------
Debtor Reporting Period: March 3, 2001
-------------
STATEMENT OF OPERATIONS - continuation sheet
- -------------------------------------------------------------------------------
OTHER OPERATING EXPENSES 28 days ended 152 days ended
March 3, 2001 March 3, 2001
- -------------------------------------------------------------------------------
CHARGE CARD EXPENSE 496 2,824
OTHER OPERATING EXPENSES
LIGHT REPAIRS & LAMP REPLACE 20 161
STORE DISBURSEMENTS 80 448
PENALTIES & FINES 37 111
BAD CHECKS 92 575
PREMISE SECURITY 231 866
LAUNDRY 35 253
CASH (OVER) SHORT 69 320
REFRIGERATION & WATER DAMAGE 20 31
EQUIPMENT RENTAL 29 147
CASUALTY LOSS 26 109
SIGNS - 1
EXTERMINATING 12 43
SHOPPING CARTS 6 41
MISCELLANEOUS INCOME (101) (1,078)
BANK SERVICE CHG/ARMORED CAR 123 852
CUSTOMER SERVICE CHARGES - (2)
OTHER 276 850
--- ---
TOTAL OTHER OPERATING EXPENSE 957 3,727
--- -----
CAPITAL PROJECT EXPENSE - -
CORPORATE ADMIN EXPENSE 2,487 14,234
GRAND PROPERTIES 140 (20,381)
GRAND VIDEO - -
CORPORATE COMMISSARY - -
PRE-OPEN EXPENSE - -
CLOSED STORE EXPENSE 390 2,195
TECHNOLOGY INITIATIVES - -
MANAGEMENT FEE - -
SUNDRY - -
- -
TOTAL OTHER OPERATING EXPENSES 4,470 2,598
===== =====
11
The Grand Union Company Case No. 00-39613 (NW)
- ----------------------- -------------
Debtor Reporting Period: March 3, 2001
-------------
STATEMENT OF OPERATIONS - continuation sheet
- -------------------------------------------------------------------------------
OTHER COSTS OF GOODS SOLD 28 days ended 152 days ended
March 3, 2001 March 3, 2001
- -------------------------------------------------------------------------------
TRUCKING 237 3,511
WAREHOUSING 3,272 17,965
S & G SERVICES 373 1,614
--- -----
TOTAL DISTRIBUTION 3,882 23,091
----- ------
ADVERTISING & PROMO ALLOWANCE (2,724) (21,648)
SPECIALTY FOODS (12) (295)
CASH DISCOUNTS (49) (832)
STOCK GAIN OR (LOSS) - GROCERY 7,354 9,354
- LIQUOR (22) (26)
- GEN MDSE 1,714 3,321
- PHARMACY (167) (251)
- SHRINK PROJ 21 134
-- ---
TOTAL STOCK GAIN OR (LOSS) 8,901 12,532
----- ------
SPECIAL PROMOTIONS 300 5,202
--- -----
TRADING-MERCHANDISE 327 (695)
-MEAT (220) (1,223)
-PRODUCE (214) (1,187)
-SERVICE (154) (236)
LABEL EXP/ALLOW - -
VENDOR COUPONS 61 (60)
STATISTICAL GROSS ADJUSTMENT 38 225
WHSE INV GAIN(LOSS)-GROCERY 32 253
PHARMACY THIRD PARTY REC ADJ 19 127
FREQUENT SHOPPER EXPENSE 1,436 3,001
CLIPLESS COUPON EXPENSE 49 638
ADVERTISING PROGRAMS - -
- -
OTHER ADJ. TO GROSS MARGIN 1,372 844
----- ---
LIFO PROVISION - 75
- --
TOTAL OTHER COSTS OF GOODS SOLD 11,672 18,969
====== ======
12
The Grand Union Company Case No. 00-39613 (NW)
- ----------------------- -------------
Debtor Reporting Period: March 3, 2001
-------------
STATEMENT OF OPERATIONS - continuation sheet
- -------------------------------------------------------------------------------
OTHER INCOME AND EXPENSES 28 days ended 152 days ended
March 3, 2001 March 3, 2001
- -------------------------------------------------------------------------------
LEASED/OWNED NORMALIZATION ITEMS (1,261) (7,959)
GAIN/(LOSS) ON SALE OF COMPANY 95,362 95,362
BANK SERVICE CHARGES 43 117
GAIN/(LOSS) ON DISPOSAL OF FIXED ASSETS - 123
SALES TAX COLLECTION COMMISSIONS (3) (10)
SALES USE TAX 9 42
EXECUTIVE INCENTIVE PLAN 347 1,884
ADMINISTRATIVE PENSION 19 103
BOARD OF DIRECTORS FEES 114 664
BOARD OF DIRECTORS EXPENSES 44 188
OTHER 257 1,506
--- -----
TOTAL OTHER INCOME AND EXPENSES 94,931 92,020
====== ======
13
The Grand Union Company Case No. 00-39613 (NW)
- ----------------------- -------------
Debtor Reporting Period: March 3, 2001
-------------
STATUS OF POSTPETITION TAXES
The beginning tax liability should be the ending liability from the prior month
or, if this is the first report, the amount should be zero. Attached photocopies
of IRS Form 6123 or payment receipt to verify payment or deposit of federal
payroll taxes. Attached photocopies of any tax returns filed during the
reporting period.
- ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------
Beginning Amount Amount Date Paid Check No. Ending
Tax Withheld or Paid Or EFT Tax
Liability Accrued Liability
======================================== ============ ============ ============= ============ ============ ============
Federal
- ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------
Withholding 0 4,474,709 (4,974,709) VAR EFT 0
- ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------
FICA-Employee 0 0 0 0
- ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------
FICA-Employer 0 0 0 0
- ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------
Unemployment 208,567 89,771 0 298,338
- ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------
Income 0 0 0 0
- ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------
Other: NJ Litter 0 0 0 0
- ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------
Total Federal Taxes 208,567 5,064,480 (4,974,709) 298,338
- ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------
State and Local
- ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------
Withholding 293,903 672,691 (535,070) VAR VAR 431,524
- ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------
Sales 1,812,733 1,728,312 (1,648,963) VAR VAR 1,892,082
- ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------
Excise 0 0 0 0
- ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------
Unemployment 355,765 319,231 0 674,996
- ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------
Real Property 0 0 0 0
- ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------
Personal Property 19,952 0 0 19,952
- ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------
Other: NJ LITTER 39,867 7,807 (32,068) 15,606
- ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------
Total State and Local 2,522,220 2,728,041 (2,216,101) 3,034,160
- ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------
Total Taxes 2,730,787 7,792,521 (7,190,810) 3,332,497
- ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------
SUMMARY OF UNPAID POSTPETITION DEBTS
Attach aged listing of accounts payable.
- ---------------------------------------- ------------------------------------------------------------------------------
Number of Days Past Due
======================================== ==============================================================================
Current 0-30 31-60 61-90 Over 90 Total
- ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------
Accounts Payable 0 10,500 4,050 1,010 0 15,560
- ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------
Wages Payable 0 735 0 0 0 735
- ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------
Taxes Payable 0 3,332 0 0 0 3,332
- ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------
Rent/Leases-Building 0 0 0 0 0 0
- ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------
Rent/Leases-Equipment 0 0 0 0 0 0
- ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------
Secured Debt/Adequate Protection 0 0 0 0 0 0
Payments
- ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------
Professional Fees 0 169 0 0 0 169
- ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------
Amounts Due to Insiders* 0 0 0 0 0 0
- ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------
Other: 0 0 0 0 0 0
- ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------
Other: 0 0 0 0 0 0
- ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------
Total Postpetition Debts 0 14,736 4,050 1,010 0 19,796
- ---------------------------------------- ------------ ------------ ------------- ------------ ------------ ------------
Explain how and when the Debtor intends to pay any past-due postpetition debts.
- -----------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------
- -----------------------------------------------------------------------------------------------------------------------
*"Insider" is defined in 11 U.S.C. Section 101 (31)
14
The Grand Union Company Case No. 00-39613 (NW)
- ----------------------- -------------
Debtor Reporting Period: March 3, 2001
-------------
Accounts Receivable Reconciliation and Aging
- ------------------------------------------------------------------------ ---------------------------------
Accounts Receivable Reconciliation Amount
- ------------------------------------------------------------------------ ---------------------------------
Total Accounts Receivable at the beginning of the reporting period 28,617,460
- ------------------------------------------------------------------------ ---------------------------------
+ Amounts billed during the period 3,858,324
- ------------------------------------------------------------------------ ---------------------------------
- - Amounts collected during the period (4,296,949)
- ------------------------------------------------------------------------ ---------------------------------
Total Accounts Receivable at the end of the reporting period 28,178,836
- ------------------------------------------------------------------------ ---------------------------------
- ------------------------------------------------------------------------ ---------------------------------
- ------------------------------------------------------------------------ ---------------------------------
Accounts Receivable Aging Amount
- ------------------------------------------------------------------------ ---------------------------------
0-30 days old 21,708,672
- ------------------------------------------------------------------------ ---------------------------------
31-60 days old 3,908,633
- ------------------------------------------------------------------------ ---------------------------------
61-90 days old (549,706)
- ------------------------------------------------------------------------ ---------------------------------
91+ days old 7,224,367
- ------------------------------------------------------------------------ ---------------------------------
Total Accounts Receivable 32,291,966
- ------------------------------------------------------------------------ ---------------------------------
Amount considered uncollectible (Bad Debt) (4,113,130)
- ------------------------------------------------------------------------ ---------------------------------
Accounts Receivable (Net) 28,178,836
- ------------------------------------------------------------------------ ---------------------------------
- ------------------------------------------------------------------------ ---------------------------------
DEBTOR QUESTIONNAIRE
- ------------------------------------------------------------------------ --------------------- ---------------------
Must be completed each month Yes No
- ------------------------------------------------------------------------ --------------------- ---------------------
1. Have any assets been sold or transferred outside the normal course
of business this reporting period? If yes, provide an explanation X
below.
- ------------------------------------------------------------------------ --------------------- ---------------------
2. Have any funds been disbursed from any account other than a debtor
in possession account this reporting period? If yes, provide an X
explanation below.
- ------------------------------------------------------------------------ --------------------- ---------------------
3. Have all postpetition tax returns been timely filed? If no,
provide an explanation below. X
- ------------------------------------------------------------------------ --------------------- ---------------------
4. Are workers compensation, general liability and other necessary
insurance coverages in effect? If no, provide an explanation below. X
- ------------------------------------------------------------------------ --------------------- ---------------------
- ------------------------------------------------------------------------ --------------------- ---------------------
15