ex99-1.htm

Exhibit 99.1

CASE NAME: CIRCUIT CITY STORES, INC., ET AL.			ACCRUAL BASIS
CASE NUMBER: 08-35653
JUDGE: KEVIN R. HUENNEKENS


UNITED STATES BANKRUPTCY COURT

EASTERN DISTRICT OF VIRGINIA

RICHMOND DIVISION

MONTHLY OPERATING REPORT

MONTH ENDING: NOVEMBER 10, 2008 TO NOVEMBER 30, 2008



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 (ACCRUAL BASIS-1 THROUGH ACCRUAL BASIS-7) 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:

/s/ BRUCE H. BESANKO	EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER
ORIGINAL SIGNATURE OF RESPONSIBLE PARTY		TITLE

BRUCE H. BESANKO	JANUARY 15, 2009
PRINTED NAME OF RESPONSIBLE PARTY		DATE



PREPARER:

/s/ MICHELLE O. MOSIER	VICE PRESIDENT AND CONTROLLER
ORIGINAL SIGNATURE OF PREPARER		TITLE

MICHELLE O. MOSIER	JANUARY 15, 2009
PRINTED NAME OF PREPARER		DATE

CASE NAME: CIRCUIT CITY STORES, INC., ET AL.				ACCRUAL BASIS-1
CASE NUMBER: 08-35653

BALANCE SHEET
(amounts in thousands)

	11/30/2008
ASSETS

CURRENT ASSETS
Cash and cash equivalents	$	69,340
Short-term investments		888
Accounts receivable, net		592,334
Merchandise inventory		1,329,296
Deferred income taxes, net of valuation allowance		24,311
Income tax receivable		86,846
Prepaid expenses and other current assets		244,309
Intercompany receivables and investments in subsidiaries		524,285

TOTAL CURRENT ASSETS		2,871,609

Property and equipment		2,280,659
Accumulated depreciation		(1,693,998	)
Net property and equipment		586,661
Other intangible assets, net		183
Other assets		137,667

TOTAL ASSETS		3,596,120


LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES
Merchandise payable		95,132
Expenses payable		112,412
Accrued expenses and other current liabilities		214,270
Accrued compensation		40,702
Intercompany payables		10,000
Accrued income taxes		1,968
Short-term debt		826,491

TOTAL CURRENT LIABILITIES		1,300,975

Accrued straight-line rent		150,037
Deferred rent credits		161,936
Deferred income taxes, net of valuation allowance		23,252
Other liabilities		35,184

LIABILITIES NOT SUBJECT TO COMPROMISE		1,671,384

LIABILITIES SUBJECT TO COMPROMISE		1,229,655

TOTAL LIABILITIES		2,901,039

STOCKHOLDERS' EQUITY
Common stock		435,662
Additional paid-in capital		304,382
Retained deficit		(74,691	)
Accumulated other comprehensive income		29,728

TOTAL STOCKHOLDERS' EQUITY		695,081

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	3,596,120

CASE NAME: CIRCUIT CITY STORES, INC., ET AL.				ACCRUAL BASIS-2
CASE NUMBER: 08-35653

INCOME STATEMENT
(Amounts in thousands)	11/10/08 - 11/30/08
Net sales	$	700,242
Cost of sales, buying and warehousing		616,129
Gross profit		84,113
Selling, general and administrative expenses		170,820
Asset impairment charges (1)		314,527
Operating loss		(401,234	)
Interest income		20
Interest expense		18,628
Loss before reorganization items and income taxes		(419,842	)
Reorganization items, net		5,497
Income tax benefit		(564	)
Net loss	$	(413,781	)

(1) As required under generally accepted accounting principles, the company must test its long-lived assets for impairment when circumstances indicate that the carrying value of the asset may exceed its fair value. The testing for the period from 11/10/2008 - 11/30/2008 indicated that certain long-lived assets were impaired, resulting in a non-cash charge of $314.5 million. The charge was primarily related to long-lived assets at the company's stores.

CASE NAME: CIRCUIT CITY STORES, INC., ET AL.				ACCRUAL BASIS-3
CASE NUMBER: 08-35653


CASH RECEIPTS AND
DISBURSEMENTS
(amounts in thousands)

	11/10/2008 - 11/30/2008
Operating Activities:
Net loss	$	(413,781	)

Adjustments to reconcile net loss to net cash used in
operating activities:
Net gain from reorganization items		(5,497	)
Depreciation expense		8,828
Amortization expense		2
Asset impairment charges		314,527
Stock-based compensation expense		(8,949	)
Gain on dispositions of property & equipment		-
Provision for deferred income taxes		6,836
Other		(24	)
Changes in operating assets and liabilities:
Accounts receivable, net		(297,020	)
Merchandise inventory		265,779
Prepaid inventory		(116,209	)
Prepaid expenses & other current assets		12,601
Other assets		(5,215	)
Merchandise payable		27,792
Expenses payable		57,090
Accrued expenses, other current liabilities and accrued
income taxes		151,638
Intercompany receivables		(2,472	)
Other long-term liabilities		(42,919	)
Net cash used in operating activities before
reorganization items		(46,993	)
Cash effect of reorganization items (professional fees)		(665	)
Net cash used in operating activities		(47,658	)

Investing Activities:
Purchases of property and equipment		(86	)
Net cash used in investing activities		(86	)

Financing Activities:
Proceeds from DIP borrowings		830,350
Principal payments on DIP borrowings		(734,450	)
Principal payments on other short-term borrowings		(198	)
Proceeds from long-term debt		401
Principal payments on long-term debt		(938	)
Change in overdraft balances		587
Net cash provided by financing activities before
reorganization items		95,752
Cash effect of reorganization items (debt issuance costs)		(26,682	)
Net cash provided by financing activities		69,070

Increase in cash and cash equivalents		21,326
Cash and cash equivalents at beginning of period		48,014
Cash and cash equivalents at end of period	$	69,340

CASE NAME: CIRCUIT CITY STORES, INC., ET AL.											ACCRUAL BASIS-4
CASE NUMBER: 08-35653


							SCHEDULE		MONTH		MONTH			MONTH
ACCOUNTS RECEIVABLE AGING							AMOUNT		11/30/2008
	1.		0-30						$	549,170,282
	2.		31-60							24,661,230
	3.		61-90							7,287,020
	4.		91	+						14,135,691
	5.	TOTAL ACCOUNTS RECEIVABLE							$	595,254,223
	6.	AMOUNT CONSIDERED UNCOLLECTIBLE								2,920,247
	7.	ACCOUNTS RECEIVABLE (NET)							$	592,333,976



AGING OF POSTPETITION TAXES AND PAYABLES									MONTH:		11/10/2008 - 11/30/2008


TAXES PAYABLE					0-30 DAYS		31-60 DAYS		61-90 DAYS		91+ DAYS			TOTAL
	1.	FEDERAL			$	8,251,080	$	-	$	-	$	-		$	8,251,080
	2.	STATE				32,921,016		-		-					32,921,016
	3.	LOCAL				34,185		-		-					34,185
	4.	OTHER (SEE APPENDIX A)				5,900,453		-		-		-			5,900,453
	5.	TOTAL TAXES PAYABLE			$	47,106,734	$	-	$	-	$	-		$	47,106,734

	6.	MERCHANDISE PAYABLE			$	68,654,380	$	-	$	-	$	-		$	68,654,380
		EXPENSES PAYABLE			$	98,250,913	$	-	$	-	$	-		$	98,250,913



STATUS OF POSTPETITION TAXES									MONTH:		11/10/2008 - 11/30/2008

							BEGINNING		AMOUNT					ENDING
							TAX		WITHHELD AND/		AMOUNT			TAX
FEDERAL							LIABILITY*		OR ACCRUED		PAID			LIABILITY
	1.	WITHHOLDING**					$	-	$	5,384,637	$	(2,918,672	)	$	2,465,965
	2.	FICA-EMPLOYEE**						-		3,683,532		(1,956,486	)		1,727,046
	3.	FICA-EMPLOYER**						-		4,635,692		(664,032	)		3,971,660
	4.	UNEMPLOYMENT						-		86,394		14			86,408
	5.	INCOME						-		-		-			-
	6.	OTHER (ATTACH LIST)						-		-		-			-
	7.	TOTAL FEDERAL TAXES					$	-	$	13,790,255	$	(5,539,176	)	$	8,251,079
STATE AND LOCAL & OTHER
	8.	WITHHOLDING					$	-	$	1,564,184	$	(868,072	)	$	696,112
	9.	SALES						-		49,180,252		(17,257,408	)		31,922,844
	10.	EXCISE						-		-		-			-
	11.	UNEMPLOYMENT						-		336,246		-			336,246
	12.	REAL PROPERTY						-		-		-			-
	13.	PERSONAL PROPERTY						-		-		-			-
	14.	OTHER (SEE APPENDIX A)						1,940,819		4,181,572		(221,938	)		5,900,453
	15.	TOTAL STATE & LOCAL & OTHER					$	1,940,819	$	55,262,254	$	(18,347,418	)	$	38,855,655
	16.	TOTAL TAXES					$	1,940,819	$	69,052,509	$	(23,886,594	)	$	47,106,734

	*	The beginning tax liability should represent the liability from the prior month or, if this is the first operating
		report, the amount should be zero.
	**	Attach photocopies of IRS Form 6123 or your FTD coupon and payment receipt to verify payment or deposit.

CASE NAME: CIRCUIT CITY STORES, INC., ET AL.									APPENDIX A
CASE NUMBER: 08-35653


OTHER TAXES PAYABLE
	0-30 days		31-60 days			61-90 days			91+ days		Total
State & Local Income Taxes		1,278,186		-			-			-		1,278,186
Franchise Taxes		689,550		-			-			-		689,550
Business Licenses and Gross Receipts Taxes		322,210		-			-			-		322,210
Other Taxes		26,877		-			-			-		26,877
Real Estate Taxes (passed through by landlord)		3,583,630		-			-			-		3,583,630

Other Taxes Payable		5,900,453		-			-			-		5,900,453






STATUS OF POSTPETITION TAXES - OTHER TAXES

	Beginning Tax Liability		Amount Withheld and/or Accrued						Ending Tax Liability
	Beginning Tax Liability		Amount Withheld and/or Accrued			Amount Paid			Ending Tax Liability

Other Taxes
State & Local Income Taxes (1)	$	1,374,469	$	(96,283	)	$	-		$	1,278,186
Franchise Taxes (1)		566,350		123,200			0			689,550
Business Licenses and Gross Receipts Taxes		-		470,463			(148,253	)		322,210
Other Taxes		-		100,562			(73,685	)		26,877
Real Estate Taxes (passed through by landlord)		-		3,583,630			-			3,583,630

Total Other Taxes	$	1,940,819	$	4,181,572		$	(221,938	)	$	5,900,453

(1) Income/Franchise taxes related to the fiscal year ending 2/28/09 are considered "postpetition" taxes because the ending date of the period on which the returns are based is postpetition. Although instructions on the Monthly Operating Report indicate that the beginning balance should be zero if this is the first monthly report, accruals of these postpetition taxes existed prior to the petition date.

CASE NAME: CIRCUIT CITY STORES, INC., ET AL.

ACCRUAL BASIS-5

CASE NUMBER: 08-35653

The debtor in possession must complete the reconciliation below for each bank account,

including all general, payroll and tax accounts, as well as all savings and investment

accounts, money market accounts, certificates of deposit, government obligations, etc.

Accounts with restricted funds should be identified by placing an asterisk next to the

account number. Attach additional sheets if necessary.

MONTH:

11/10/2008 - 11/30/2008

BANK RECONCILIATIONS

Account #1

Account #2

Account #3

A. BANK:

see APPENDIX B

B. ACCOUNT NUMBER:

TOTAL

C. PURPOSE (TYPE):

BALANCE PER BANK STATEMENT

ADD: TOTAL DEPOSITS NOT CREDITED

SUBTRACT: OUTSTANDING CHECKS

OTHER RECONCILING ITEMS

MONTH END BALANCE PER BOOKS

60,286,954

NUMBER OF LAST CHECK WRITTEN

INVESTMENT ACCOUNTS

DATE OF

TYPE OF

PURCHASE

CURRENT

BANK, ACCOUNT NAME & NUMBER

PURCHASE

INSTRUMENT

PRICE

VALUE

Overnight repos on depository accounts

11/28/2008

repo

5,197,909

10.

11.

TOTAL INVESTMENTS

5,197,909

CASH

12.

CURRENCY ON HAND

3,854,677

13.

TOTAL CASH - END OF MONTH

69,339,540

CASE NAME: CIRCUIT CITY STORES, INC., ET AL.									APPENDIX B
CASE NUMBER: 08-35653
G/L Acct #		Account Name	Bank Acct #		Debtor	Description	Bank Balance		G/L Balance			As of Date	Reconciled as of 11/30/08

	101003	Wachovia Circuit City Master		2055275431509	Circuit City Stores, Inc.	Funding Account		145,527		-		11/30/2008		Y
	101003	Wachovia Circuit City Main Disbursement		2000045277427	Circuit City Stores, Inc.	Funding Account		33,524		-		11/30/2008		Y
	101015	Wachovia Vendor Disbursement		2079920046733	Circuit City Stores, Inc.	Disbursement Account		-		-		11/30/2008		Y
	101046	Wachovia American Express		2055302199620	Circuit City Stores, Inc.	Depository Account		-		-		11/30/2008		Y
	101063	Wachovia Sublease Lockbox		2055303192189	Circuit City Stores, Inc.	Depository Account		-		-		11/30/2008		Y
	101082	BOA CC WC Licensing		1257401034	Circuit City West Coast	Transfer Account		-		-		11/30/2008		Y
	101089	Wachovia Fifth Third Bankcard		2055304684528	Circuit City Stores, Inc.	Depository Account		-		-		11/30/2008		Y
	101092	BOA Data Mailer (Payroll)		7313200844	Circuit City West Coast	Payroll Account		-		(5,952,827	)	11/30/2008		Y
	101092	Payroll - Data Mailer Shadow		1233557748	Circuit City West Coast	Payroll Account		-		-		11/30/2008		Y
	101095	BOA CC W.C. P/R Main Concentration		1257501029	Circuit City West Coast	Funding Account		228,833		228,833		11/30/2008		Y
	101100	Suntrust Concentration		88001883706	Circuit City Stores, Inc.	Funding Account		47,384		-		11/30/2008		Y
	101104	Wachovia Store Depository		2010008835100	Circuit City Stores, Inc.	Depository Account		325,676		-		11/30/2008		Y
	101117	Chase Store Depository		744447244	Circuit City Stores, Inc.	Depository Account		673,158		22,295,057		11/30/2008		Y
	101150	Wachovia Warranty Sales Deposits		2055303237073	Circuit City Stores, Inc.	Depository Account		-		-		11/30/2008		Y
	101159	Wachovia Fifth Third Check Collection		2055304993099	Circuit City Stores, Inc.	Depository Account		-		-		11/30/2008		Y
	101164	Regions/AmSouth Store Depository		0001933210	Circuit City Stores, Inc.	Depository Account		18,138		81,279		11/30/2008		Y
	101200	Wachovia Reverse Affiliates Lockbox		2000023001107	Circuit City Stores, Inc.	Depository Account		-		-		11/30/2008		Y
	101207	Bank of America Sky Venture		1257555447	Circuit City Stores, Inc.	Depository Account		100		100		11/30/2008		Y
	101210	Wachovia Trading Circuit		2000022979133	Circuit City Stores, Inc.	Depository Account		3,732		-		11/30/2008		Y
	101219	Wachovia Corporate Depository		2055305959993	Circuit City Stores, Inc.	Depository Account		-		-		11/30/2008		Y
	101236	BOA Store Depository		3750979967	Circuit City Stores, Inc.	Depository Account		1,119,580		30,693,603		11/30/2008		Y
	101245	Wachovia Direct Deposit		2000013944038	Circuit City Stores, Inc.	Payroll Account		-		-		11/30/2008		Y
	101249	Wachovia Empire Blue Cross		2079920015191	Circuit City Stores, Inc.	Depository Account		-		-		11/30/2008		Y
	101254	Wachovia Music Payables		2079900056031	Circuit City Stores, Inc.	Disbursement Account		-		-		11/30/2008		Y
	101255	Wachovia Service Payables		2079900056044	Circuit City Stores, Inc.	Disbursement Account		-		-		11/30/2008		Y
	101270	Wachovia Purchasing E/P Disbursement		2079900470992	Circuit City Stores Purchasing Co., LLC	Disbursement Account		-		-		11/30/2008		Y
	101281	Wachovia Purchasing Co. Concentration		2000022979175	Circuit City Stores Purchasing Co., LLC	Funding Account		4,327		-		11/30/2008		Y
	101307	Chase CC Empire Blue Cross		475600266	Circuit City Stores, Inc.	Depository Account		299,014		(175,824	)	11/30/2008		Y
	101320	American Savings Bank Store Depository		9331006380	Circuit City Stores, Inc.	Depository Account		31,447		233,024		11/30/2008		Y
	101332	Suntrust EP Disbursement		8800606660	Circuit City Stores, Inc.	Disbursement Account		-		-		11/30/2008		Y
	101345	Wells Fargo Store Depository		4121524672	Circuit City Stores, Inc.	Depository Account		199,895		11,070,926		11/30/2008		Y
	101365	Wachovia Corporate Sales Lockbox		2000022990950	Circuit City Stores, Inc.	Depository Account		-		-		11/30/2008		Y
	101385	Wachovia Sales Receivables Lockbox		2000028301048	Circuit City Stores, Inc.	Depository Account		-		-		11/30/2008		Y
	101401	Banco Popular CCS PR LLC Operating		030475139	Circuit City Stores PR, LLC	Funding Account		5,000		5,000		11/30/2008		Y
	101402	Banco Popular Store Depository		030475120	Circuit City Stores PR, LLC	Depository Account		-		227,869		11/30/2008		Y
	101403	Banco Popular Disbursement		030475147	Circuit City Stores PR, LLC	Payroll Account		102,986		82,356		11/30/2008		Y
	101450	BOA Fleet Retail Finance Collateral Acct		9392853301	Circuit City Stores, Inc.	Collateral Account		31,874,483		-		11/30/2008		Y
	101453	Solutran Citizens State Bank Parago Funding Acct		737934	Circuit City Stores, Inc.	Funding Account		5,000		5,000		11/30/2008		Y
	101530	Wachovia Ventoux International		2000022979528	Ventoux International	Depository Account		1,050,000		1,050,000		11/30/2008		Y
	101580	Wachovia Aviation		2000035264767	Circuit City Stores, Inc.	Depository Account		10,000		-		11/30/2008		Y
	101600	Solutran Return Checks		454248-F	Circuit City Stores, Inc.	Funding Account		99,272		431,571		11/30/2008		Y
	115185	GECAF Promo		2055305818908	Circuit City Stores, Inc.	Depository Account		-		-		11/30/2008		Y
	128065	Paypal Trading Circuit Account		N/A	Circuit City Stores, Inc.	Depository Account		9,963		3,614		11/30/2008		Y
	130002	BOA Letter of Credit Payments		4426634580	Circuit City Stores, Inc.	Funding Account		902,374		7,374		11/30/2008		Y
		MPS Bankcard		71706916	Circuit City Stores, Inc.	Depository Account		-		-		11/30/2008		Y
		Wachovia Tourmalet Corp		2000022979858	Tourmalet Corp	Depository Account		-		-		11/30/2008		Y

								37,189,413		60,286,954

CASE NAME: CIRCUIT CITY STORES, INC., ET AL.									ACCRUAL BASIS-6
CASE NUMBER: 08-35653
									MONTH:		11/10/2008 - 11/30/2008
PAYMENTS TO INSIDERS AND PROFESSIONALS

OF THE TOTAL DISBURSEMENTS SHOWN FOR THE MONTH, LIST THE AMOUNT PAID
TO INSIDERS (AS DEFINED IN SECTION 101 (31) (A)-(F) OF THE U.S. BANKRUPTCY CODE)
AND TO PROFESSIONALS. ALSO, FOR PAYMENTS TO INSIDERS, IDENTIFY THE TYPE OF
COMPENSATION PAID (e.g. SALARY, BONUS, COMMISSIONS, INSURANCE, HOUSING ALLOWANCE,
TRAVEL, CAR ALLOWANCE, ETC.). ATTACH ADDITIONAL SHEETS IF NECESSARY.

INSIDERS
				TYPE OF	AMOUNT		TOTAL PAID
			NAME	PAYMENT	PAID		TO DATE
	1.
	2.
	3.
	4.
	5.
	6.		TOTAL PAYMENTS
			TO INSIDERS (1)

PROFESSIONALS
				DATE OF COURT							TOTAL
				ORDER AUTHORIZING	AMOUNT		AMOUNT		TOTAL PAID		INCURRED
			NAME	PAYMENT	APPROVED		PAID		TO DATE		& UNPAID *
	1.		FTI Consulting, Inc. (2)	12/23/2008	$	500,000	$	2,750,000	$	2,750,000	$	383,650
	2.		Kirkland & Ellis LLP									96,254
	3.		KPMG LLP									75,422
	4.		Kurtzman Carson Consultants LLC					164,798		164,798		679,922
	5.		McGuire Woods, LLP									255,000
	6.		Rothschild Inc.									140,000
	7.		Skadden, Arps, Slate, Meagher & Flom, LLP									1,000,000
	8.		Wilmer Hale									34,000
	9.		Ernst & Young LLP									281,022
			TOTAL PAYMENTS
			TO PROFESSIONALS		$	500,000	$	2,914,798	$	2,914,798	$	2,945,270

* INCLUDE ALL FEES INCURRED, BOTH APPROVED AND UNAPPROVED

POSTPETITION STATUS OF SECURED NOTES, LEASES PAYABLE AND ADEQUATE
PROTECTION PAYMENTS

					SCHEDULED		AMOUNTS
					MONTHLY		PAID		TOTAL
					PAYMENTS		DURING		UNPAID
NAME OF CREDITOR					DUE		MONTH		POSTPETITION
	1.		Leases (3)		$	25,613,697	$	1,181,195	$	25,103,348
	2.		DIP Credit Facility (4)					734,450,265		826,490,751
	3.
	4.
	5.
	6.		TOTAL		$	25,613,697	$	735,631,460	$	851,594,099

	(1	)	Other than salary, fees and benefit payments made in the ordinary course of business and reimbursements for business expenses, no payments have been made to insiders during the reporting period.

	(2	)	Only $500,000 of the $2,750,000 paid to FTI was approved by the Court. The $2,250,000 was recovered by the debtor in December.
	(3	)	The leases line item is made up of hundreds of landlords. As such, only the total amount is reported in this schedule. The unpaid balance remaining at 11/30/2008 represents rent payments due for the period from 11/10/2008 - 11/30/2008; these payments are being held pursuant to a Court order.

	(4	)	The amounts paid during the month under the DIP credit facility represent the amounts swept from the debtors' bank accounts to repay amounts owed under the facility.

CASE NAME: CIRCUIT CITY STORES, INC., ET AL.

ACCRUAL BASIS-7

CASE NUMBER: 08-35653

MONTH:

11/10/2008 - 11/30/2008

QUESTIONNAIRE

YES

HAVE ANY ASSETS BEEN SOLD OR TRANSFERRED OUTSIDE

THE NORMAL COURSE OF BUSINESS THIS REPORTING PERIOD?

HAVE ANY FUNDS BEEN DISBURSED FROM ANY ACCOUNT

OTHER THAN A DEBTOR IN POSSESSION ACCOUNT?

ARE ANY POSTPETITION RECEIVABLES (ACCOUNTS, NOTES, OR

LOANS) DUE FROM RELATED PARTIES?

HAVE ANY PAYMENTS BEEN MADE ON PREPETITION LIABILITIES

THIS REPORTING PERIOD?

HAVE ANY POSTPETITION LOANS BEEN RECEIVED BY THE

DEBTOR FROM ANY PARTY?

ARE ANY POSTPETITION PAYROLL TAXES PAST DUE?

ARE ANY POSTPETITION STATE OR FEDERAL INCOME TAXES

PAST DUE?

ARE ANY POSTPETITION REAL ESTATE TAXES PAST DUE?

ARE ANY OTHER POSTPETITION TAXES PAST DUE?

10.

ARE ANY AMOUNTS OWED TO POSTPETITION CREDITORS

DELINQUENT?

11.

HAVE ANY PREPETITION TAXES BEEN PAID DURING THE

REPORTING PERIOD?

12.

ARE ANY WAGE PAYMENTS PAST DUE?

IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "YES," PROVIDE A DETAILED

EXPLANATION OF EACH ITEM. ATTACH ADDITIONAL SHEETS IF NECESSARY.

Intercompany transactions in the ordinary course of business have given rise to postpetition receivables.

Payments on prepetition liabilities have been made pursuant to first day motions granted by the Bankruptcy Court.

The debtors entered into a debtor-in-possession revolving credit facility on 11/12/08 and drew on that facility during the period covered by this report.

Certain real estate taxes are passed through to the debtors from the landlords. These real estate taxes for the period 11/10/2008 through 11/30/2008 are past due.

Business license taxes that covered both prepetition and postpetition periods were due on or before 11/30 but were not paid.

10.

The rent for active store leases owed for the period 11/10/2008 through 11/30/2008 is past due; these payments are being held pursuant to a Court order.

11.

Pursuant to the first day motions granted by the Bankruptcy Court, the debtors have paid prepetition sales and payroll taxes.

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.

IF THE ANSWER TO ANY OF THE ABOVE QUESTIONS IS "NO," OR IF ANY POLICIES HAVE BEEN
CANCELLED OR NOT RENEWED DURING THIS REPORTING PERIOD, PROVIDE AN EXPLANATION
BELOW. ATTACH ADDITIONAL SHEETS IF NECESSARY.
	N/A



		INSTALLMENT PAYMENTS
				PAYMENT AMOUNT
	TYPE OF POLICY	CARRIER	PERIOD COVERED	& FREQUENCY
	Commercial General Liability	Old Republic Insurance Co.	10-01-08/09	$141,622 paid at inception & $141,292 due on 04/01/09
	Auto Liability	Old Republic Insurance Co.	10-01-08/09	$181,882 paid at inception & $180,457 due on 04/01/09
	Aircraft Liability	Global Aerospace, Inc.	09-17-08/09	$78,340 paid at inception
	Excess Liability - Layer 1	National Union Fire Ins. Co.	10-01-08/09	$513,000 paid at inception
	Excess Liability - Layer 2	Lexington Insurance Co.	10-01-08/09	$86,912.50 paid at inception
	Excess Liability - Layer 3	Great American Insurance Co.	10-01-08/09	$60,600 paid at inception
	Excess Liability - Layer 4	Fireman’s Fund Insurance Co.	10-01-08/09	$45,000 paid at inception
	Excess Liability - Layer 5	Great American Assurance Co.	10-01-08/09	$37,500 paid at inception
	Excess Liability - Layer 6	St. Paul Fire and Marine Insurance Co.	10-01-08/09	$37,400 paid at inception
	Excess Liability - Layer 7	Ohio Casualty Insurance Co.	10-01-08/09	$30,805 paid at inception
	Workers’ Compensation & Employer’s Liability	Old Republic Insurance Co.	10-01-08/09	$464,615 paid at inception & $264,229 due on 04/01/09
	Excess Workers' Compensation	Old Republic Insurance Co.	10-01-08/09	$63,874 paid at inception & $63,874 due on 04/01/09
Self Insured Workers' Compensation States:
	California	Department of Industrial Relations - SIP	ongoing	$53,550 paid in July 2008 and $94,830 due in January 2009
	Ohio	Ohio Bureau of Workers' Compensation	ongoing	$4,008 est. due in February 2009
	Washington	Washington Self-Insured Assessments	ongoing	$89,503 est. paid quarterly ($67,127 paid to date)
Monopolistic State Workers' Compensation Policies:
	Wyoming	Wyoming State WC Premium	ongoing	$15,116 est. paid quarterly ($11,337 paid to date)
	Foreign Liability Package	National Union Fire Ins. Co.	01-01-08/09	$6,158 paid at inception
	Business Travel Accident	Zurich American	08-01-08/09	$41,232 paid at inception
	Fiduciary/Crime/K&R	Chubb Group	12-01-07/08	$153,000 paid at inception
	D&O (Traditional) - Primary	CNA	12-01-07/08	$392,500 paid at inception
	D&O (Traditional) - Layer 1	Chubb Group	12-01-07/08	$162,500 paid at inception
	D&O (Traditional) - Layer 2	Great American	12-01-07/08	$160,000 paid at inception
	D&O (Traditional) - Layer 3	Travelers	12-01-07/08	$274,000 paid at inception
	D&O (Traditional) - Layer 4	AXIS	12-01-07/08	$232,900 paid at inception
	D&O (Traditional) - Layer 5	RSUI	12-01-07/08	$196,350 paid at inception
	D&O (Traditional) - Layer 6	Arch	12-01-07/08	$180,000 paid at inception
	D&O (Side A excess) - Primary	XL	12-01-07/08	$425,000 paid at inception
	D&O (Side A excess) - Layer 1	Chubb Group	12-01-07/08	$125,000 paid at inception
	Property - Boiler & Machinery	Continental Casualty Company	08-15-08/09	$31,734 paid at inception
	Property - StockThroughput/Ocean Cargo	National Liability & Fire	09-05-08 - 08-15-09	$91,845 paid at inception
	Property - All Risk	Lexington, Axis, Lloyds of London, Liberty, GEP, Glacier Ins AG, State National, Princeton Excess, Industrial Risk, Lancashire, Landmark AmeriCNA, & Integon Specialty	08-15-08/09	$2,750,701.66 paid at inception