EX-99.1 2 c86797exv99w1.txt FINANCIAL INFORMATION Exhibit 99.1 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION Florsheim Group Inc. et al The Florsheim Shoe Store Company - West The Florsheim Shoe Store Company - Northeast Florsheim Occupational Footwear, Inc. L.J. O'Neill Shoe Co. Case Number 02 B 08209 (Jointly Administrated) Monthly Operating Report June 30, 2004 IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: FLORSHEIM GROUP INC. CASE NO. 02 B 08209 SUMMARY OF CASH ACCOUNTS ENDING BALANCE IN :
05/31/2004 06/30/2004 ------------ ------------ Associated Bank $ 44,409.07 $ 57,321.41 BT Commercial Escrow 144,008.24 144,008.24 Shaw Gussis Fishman Glantz Wolfman & Towbin LLC - Preference Account 101,075.88 101,146.51 Shaw Gussis Fishman Glantz Wolfman & Towbin LLC - Preference Account II 108,284.58 197,384.52 ------------ ------------ TOTAL $ 397,777.77 $ 499,860.68 ============ ============
IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLIONOIS EASTERN DIVISION FLORSHEIM GROUP INC., CASE NUMBER 02 B 08209 CASH RECEIPTS - JUNE 30, 2004
DATE ASSOCIATED BANK ---- --------------- 06/01/04 $ - 06/02/04 - 06/03/04 - 06/04/04 - 06/05/04 - 06/06/04 - 06/07/04 - 06/08/04 - 06/09/04 - 06/10/04 - 06/11/04 64,278.00 1) 06/12/04 - 06/13/04 - 06/14/04 - 06/15/04 - 06/16/04 - 06/17/04 - 06/18/04 - 06/19/04 - 06/20/04 - 06/21/04 12,742.16 2) 06/22/04 - 06/23/04 - 06/24/04 - 06/25/04 - 06/26/04 - 06/27/04 - 06/28/04 - 06/29/04 - 06/30/04 2,617.57 3) ------------ TOTAL RECEIPTS $ 79,637.73 ============
NOTES: 1) Zurich insurance settlement. 2) Return premium-AIG Pension Annuity 3) Florsheim Canada dividend excess cash. IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLIONOIS EASTERN DIVISION FLORSHEIM GROUP INC., CASE NUMBER 02 B 08209 JUNE 30, 2004
SHAW GUSSIS DATE PREFERENCE ACCT. ---- ---------------- 06/01/04 $ - 06/02/04 - 06/03/04 - 06/04/04 - 06/05/04 - 06/06/04 70.63 1) 06/07/04 - 06/08/04 - 06/09/04 - 06/10/04 - 06/11/04 - 06/12/04 - 06/13/04 - 06/14/04 - 06/15/04 - 06/16/04 - 06/17/04 - 06/18/04 - 06/19/04 - 06/20/04 - 06/21/04 - 06/22/04 - 06/23/04 - 06/24/04 - 06/25/04 - 06/26/04 - 06/27/04 - 06/28/04 - 06/29/04 - 06/30/04 - ------- TOTAL RECEIPTS $ 70.63 =======
1) Interest income. IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLIONOIS EASTERN DIVISION FLORSHEIM GROUP INC., CASE NUMBER 02 B 08209 CASH RECEIPTS - JUNE 30, 2004
SHAW GUSSIS DATE PREFERENCE ACCT.II ---- ------------------ 06/01/04 $ 24,107.75 1) 06/02/04 67,500.00 1) 06/03/04 - 06/04/04 - 06/05/04 - 06/06/04 - 06/07/04 - 06/08/04 - 06/09/04 - 06/10/04 - 06/11/04 - 06/12/04 - 06/13/04 - 06/14/04 - 06/15/04 - 06/16/04 7,700.00 1) 06/17/04 - 06/18/04 - 06/19/04 - 06/20/04 - 06/21/04 - 06/22/04 - 06/23/04 3,803.00 2) 06/24/04 - 06/25/04 - 06/26/04 - 06/27/04 - 06/28/04 - 06/29/04 11,500.00 1) 06/30/04 - ----------- TOTAL RECEIPTS $114,610.75 ===========
1) Preference recovery 2) Account transfer from Associated Bank account. IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION FLORSHEIM GROUP INC., CASE NUMBER 02 B 08209 CASH DISBURSEMENTS - JUNE 30, 2004
DATE CHECK NUMBER PAYMENTS ASSOCIATED BANK ---- ------------ -------- --------------- 06/09/04 1230 F. Terrence Blanchard $ 2,237.39 06/14/04 1231 Ben Alvendia 150.00 06/23/04 1234 F. Terrence Blanchard 12,095.00 06/24/04 wire Deutche Bank 48,380.00 06/30/04 na Bank fees 60.00 --------------- Total payments 62,922.39 06/23/04 1233 Transfer to preference account 3,803.00 --------------- Total $ 66,725.39 ===============
IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION FLORSHEIM GROUP INC., CASE NUMBER 02 B 08209 CASH DISBURSEMENTS - JUNE 30, 2004
SHAW GUSSIS DATE CHECK NUMBER PAYMENTS PREFERENCE ACCOUNT II ---- ------------ -------- --------------------- 06/01/04 1077 Shaw Gussis Fishman $ 18,700.78 06/11/04 1078 F. Terrence Blanchard 1,875.00 06/11/04 1079 Logan & Company 844.19 06/22/04 1080 Kronish Lieb 1,115.79 06/22/04 1081 Leslie T Welsh Inc. 1,454.25 06/22/04 1082 Logan & Company 814.77 06/22/04 1083 Iron Mountain Record Management 274.03 06/22/04 1084 Laura Koy Reporting Inc. 432.00 -------------- $ 25,510.81 ==============
IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION FLORSHEIM GROUP INC. / CASE NUMBER 02 B 08209 JUNE 30, 2004 BT COMMERCIAL CORPORATION LOAN ACCOUNT
POST-PETITION LOAN DATE PAYMENTS BORROWINGS BALANCE ---- -------- ---------- ------------- OPENING BALANCE $ 7,101,059.88 06/01/04 $ - $ - 7,101,059.88 06/02/04 - - 7,101,059.88 06/03/04 - - 7,101,059.88 06/04/04 - - 7,101,059.88 06/05/04 - - 7,101,059.88 06/06/04 - - 7,101,059.88 06/07/04 - - 7,101,059.88 06/08/04 - - 7,101,059.88 06/09/04 - - 7,101,059.88 06/10/04 - - 7,101,059.88 06/11/04 - - 7,101,059.88 06/12/04 - - 7,101,059.88 06/13/04 - - 7,101,059.88 06/14/04 - - 7,101,059.88 06/15/04 - - 7,101,059.88 06/16/04 - - 7,101,059.88 06/17/04 - - 7,101,059.88 06/18/04 - - 7,101,059.88 06/19/04 - - 7,101,059.88 06/20/04 - - 7,101,059.88 06/21/04 - - 7,101,059.88 06/22/04 - - 7,101,059.88 06/23/04 - - 7,101,059.88 06/24/04 48,380.00 - 7,052,679.88 06/25/04 - - 7,052,679.88 06/26/04 - - 7,052,679.88 06/27/04 - - 7,052,679.88 06/28/04 - - 7,052,679.88 06/29/04 - - 7,052,679.88 06/30/04 - - 7,052,679.88 ----------- ---------- Total $ 48,380.00 $ - =========== ==========
IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: FLORSHEIM GROUP INC. CASE NO. 02 B 08209 STATEMENT OF AGED RECEIVABLES JUNE 30, 2004 ACCOUNTS RECEIVABLE: Beginning of Month Balance $ 351,547 ----------- Add: Sales on Account - ----------- Less: Collections - ----------- Adjustments - ----------- End of the Month Balance $ 351,547 ===========
Note - All accounts receivable are fully reserved.
0-30 31-60 61-90 OVER 90 END OF MONTH DAYS DAYS DAYS DAYS TOTAL ---- ----- ----- ------- ------------ $ - $ - $ - $ 351,547 $ 351,547 ====== ======= ======= ========= ============
ACCOUNTS PAYABLE AGING - JUNE 30, 2004
0-30 31-60 61-90 Over 90 End of Month Days Days Days Days Total ---- ----- ----- ------- ------------ Wholesale $ 27,037 $ (17,309) $ 117 $ 510,960 520,805 Retail - - - 75,979 75,979 -------- --------- ------- --------- ------------ Total $ 27,037 $ (17,309) $ 117 $ 586,939 $ 596,784 ======== ========= ======= ========= ============
* The aging is driven off the original invoice date, which does not reflect receipt of goods or services and accordingly the invoice due date. IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION CASE NAME: FLORSHEIM GROUP INC. CASE NO. 02 B 08209 TAX QUESTIONNAIRE FOR MONTH ENDED JUNE 30, 2004 Debtors in possession and trustees are required to pay all taxes incurred after the filing of their Chapter 11 petition on an as due basis. Please indicate whether the following post petition taxes or withholdings have been paid currently. 1. Federal Income Taxes Yes (x) No( ) 2. FICA withholdings Yes (x) No( ) 3. Employee's withholdings Yes (x) No( ) 4. Employer's FICA Yes (x) No( ) 5. Federal Unemployment Taxes Yes (x) No( ) 6. State Income Taxes Yes (x) No( ) 7. State Employee withholdings Yes (x) No( ) 8. All other state taxes Yes (x) No( )
If any of the above have not been paid, state below the tax not paid, the amounts past due and the date of last payment. IN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION DECLARATION UNDER PENALTY OF PERJURY I, F. Terrence Blanchard, acting as the duly authorized agent for the Debtor in Possession (Trustee) declare under the penalty of perjury under the laws of the United States that I have read and I certify that the figures, statements, disbursement itemizations, and account balances as listed in this Monthly Report of the Debtor are true and correct as of the date of this report to the best of my knowledge, information and belief. /s/ F. Terrence Blanchard --------------------------------------- For the Debtor In Possession (Trustee) Print or type name and capacity of person signing this Declaration: F. Terrence Blanchard --------------------------------------- President and Chief Financial Officer Florsheim Group Inc. DATED: July 13, 2004