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EXHIBIT 12.1
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In Thousands of Dollars, Except for Ratios)
Predecessor Pierre Successor Pierre
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FISCAL YEARS ENDED
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For the For the
Period Period
March 7, July 1,
Thirty-Nine 2004 2004
Weeks Ended Through Through
November 29, June 30, December 4,
2000 2001 2002 2003 2004 2003 2004 2004
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Income/(loss) from continuing
operations before income tax
provision (benefit) and acumulative
effect of accounting change $(19,060) $(4,979) $ 734 $ 2,900 $ 2,737 $ 315 $ (6,344) $ (5,033)
Add Fixed Charges:
Interest expense 14,086 12,763 12,679 13,482 16,209 12,406 5,822 13,662
Interest expense on operating leases 353 394 450 391 485 346 473 538
Amortization of financing costs 900 571 528 746 770 596 716 569
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Total income (loss) as defined $ (3,721) $ 8,749 $14,391 $17,519 $20,201 $ 13,668 $ 667 $ 9,736
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Fixed Charges:
Interest expense $ 14,086 $12,763 $12,679 $13,482 $16,209 $ 12,406 $ 5,822 $ 13,662
Interest expense on operating leases 353 394 450 391 485 346 473 538
Capitalized interest -- -- -- -- 230 -- -- --
Amortization of financing costs 900 571 528 746 770 596 716 569
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Total fixed charges $ 15,339 $13,728 $13,657 $14,619 $17,694 $ 13,348 $ 7,011 $ 14,769
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Ratio of earnings to fixed charges (0.24) 0.64 1.05 1.20 1.14 1.02 0.10 0.66
Additional income required to meet a 1.0 ratio: $ 19,060 $ 4,979 n/a n/a n/a n/a $ 6,344 $ 5,033
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