Quebec · CCAA
Fourth Report of the Monitor on the state of the Debtor’s financial affairs – dated January 19, 2012
Court officer report · 19 January 2012
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing7 verified
- cash on handnote: Actual cash on hand compared with a projected DIP Financing balance of $5.5 million; the DIP Financing was fully repaid as of this date. Appendix A shows a closing bank loan balance (cash) of $(4,349)K and a closing book balance of $(3,356)K. · as at: 2012-01-01 · amount: 4400000 · currency: CAD
- disbursementsnote: Appendix A shows period disbursements for the 9 weeks ended January 1, 2012 only: continuing stores $14,988K and closing stores $3,529K (actual); no cumulative-since-filing disbursements total is stated. · currency: CAD
- operational summaryThe debtor continues to operate its continuing stores while liquidating inventory at 32 closing stores through Tiger. It is implementing cost reductions, has accepted a CIBC refinancing term sheet, and is preparing a plan of arrangement for unsecured creditors.
- professional feesnote: Actual disbursements of $940K versus $1,237K projected; no separate total of monitor/counsel fees is stated in the text. · party: Professional fees of the continuing stores, as per the Appendix A receipts and disbursements statement (party not further specified) · amount: 940000 · period: 9 weeks ended January 1, 2012 · currency: CAD
- receipts cumulativenote: Appendix A shows period receipts for the 9 weeks ended January 1, 2012 only: continuing stores $28,104K (actual) and closing stores $17,225K (actual, including sales taxes); no cumulative-since-filing receipts total is stated. · currency: CAD
- report date19 January 2012
- report noFourth Report of the Monitor