UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): November 30, 2015

 

 

Quiksilver, Inc.

(Exact name of Registrant as specified in its charter)

 

 

 

Delaware		001-14229		33-0199426
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)
15202 Graham Street, Huntington Beach, CA				92649
(Address of Principal Executive Offices)				(Zip Code)

Registrant’s telephone number, including area code: (714) 889-2200

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

---

Item 7.01

Regulation FD Disclosure

As previously disclosed in a Current Report on Form 8-K filed by Quiksilver, Inc. (the “Company”) on September 11, 2015, the Company and each of its wholly owned U.S. subsidiaries – DC Direct, Inc., DC Shoes, Inc., Fidra, Inc., Hawk Designs, Inc., Mt. Waimea, Inc., Q.S. Optics, Inc., QS Retail, Inc., QS Wholesale, Inc., Quiksilver Entertainment, Inc. and Quiksilver Wetsuits, Inc. (such subsidiaries, together with the Company, the “Debtors”) – filed voluntary petitions (the cases commenced thereby, the “Bankruptcy Cases”) in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”) seeking relief under chapter 11 of the United States Bankruptcy Code (the “Bankruptcy Code”). The Bankruptcy Cases are being jointly administered under the caption In re Quiksilver, Inc., et al., and the lead case number is 15-11880.

On November 30, 2015, the Debtors filed with the Bankruptcy Court a monthly operating report for the period of September 9, 2015 through October 31, 2015 (the “Monthly Operating Report”).

A copy of the Monthly Operating Report is attached hereto as Exhibit 99.1.

The information contained in this Current Report on Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Cautionary Statement Regarding Monthly Operating Report

The Company cautions investors and potential investors not to place undue reliance upon the information contained in the Monthly Operating Report, which was not prepared for the purpose of providing the basis for an investment decision relating to any of the securities of the Company. The Monthly Operating Report is limited in scope, covers a limited time period and has been prepared solely for the purpose of complying with the monthly reporting requirements applicable in the Bankruptcy Cases and is in a format acceptable to the U.S. Trustee. The Company is not required to publicly update the Monthly Operating Report to reflect more current facts or estimates or the occurrence of future events, including if the facts, estimates and assumptions upon which the Monthly Operating Report is based are erroneous. The Monthly Operating Report was not audited or reviewed by independent accountants, was not prepared in accordance with generally accepted accounting principles in the United States, is in a format prescribed by the Bankruptcy Code, and is subject to future adjustment (which may be material) and reconciliation. There can be no assurance that, from the perspective of an investor or potential investor in the Company’s securities, the Monthly Operating Report is complete. The Monthly Operating Report also contains information for periods which are shorter or otherwise different from those required in the Company’s reports pursuant to the Exchange Act and such information might not be indicative of the Company’s financial condition or operating results for the period that would be reflected in the Company’s financial statements or in its reports pursuant to the Exchange Act. Results set forth in the Monthly Operating Report should not be viewed as indicative of future results.

---

Item 9.01.

Financial Statements and Exhibits.

 

(d)

Exhibits

 

Exhibit No.		Description
99.1		Monthly Operating Report for the period of September 9, 2015 through October 31, 2015

---

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

				QUIKSILVER, INC.
Dated: December 1, 2015				By:		/s/ Thomas Chambolle
						Thomas Chambolle Chief Financial Officer

---

Exhibit Index

 

Exhibit No.		Description
99.1		Monthly Operating Report for the period of September 9, 2015 through October 31, 2015

Exhibit 99.1

UNITED STATES BANKRUPTCY COURT

DISTRICT OF DELAWARE

 

In re: Quiksilver, Inc., et al.		Case No. 15-11880 (BLS)
Debtors		Reporting Period: September 9, 2015 through October 31, 2015

MONTHLY OPERATING REPORT

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 Attached		Explanation Attached		Affidavit/Supplement Attached
Schedule of Cash Receipts and Disbursements		MOR-1		Yes
Bank Reconciliation (or copies of debtor’s bank reconciliations)		MOR-1a		Yes				Declaration Attached
Schedule of Professional Fees Paid		MOR-1b		Yes
Copies of bank statements								Declaration Attached
Cash disbursements journals
Statement of Operations		MOR-2		Yes
Balance Sheet		MOR-3		Yes
Status of Postpetition Taxes		MOR-4		Yes
Copies of IRS Form 6123 or payment receipt
Copies of tax returns filed during reporting period
Summary of Unpaid Postpetition Debts		MOR-4a		Yes
Listing of aged accounts payable		MOR-4a
Accounts Receivable Reconciliation and Aging		MOR-5		Yes
Debtor Questionnaire		MOR-5a		Yes

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/ Andrew Bruenjes				11/25/2015
Signature of Authorized Individual*				Date
Andrew Bruenjes				Americas Chief Financial Officer
Printed Name of Authorized Individual				Title of Authorized Individual

 

*	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.

[1] The Debtors in these chapter 11 cases, along with the last four digits of each Debtor’s taxpayer identification number, are:

Quiksilver, Inc. (9426); QS Wholesale, Inc. (8795); DC Direct, Inc. (8364); DC Shoes, Inc. (0965); Fidra, Inc. (8945); Hawk Designs, Inc. (1121); Mt. Waimea, Inc. (5864); Q.S. Optics, Inc. (2493); QS Retail, Inc. (0505); Quiksilver Entertainment, Inc. (9667); and, Quiksilver Wetsuits, Inc. (9599). The address of the Debtors’ corporate headquarters is 5600 Argosy Circle, Huntington Beach, California 92649. The direct and indirect international subsidiaries of Quiksilver, Inc. are not debtors in these chapter 11 cases.

---

Case No. 15-11880 (BLS)

Chapter 11

MONTHLY OPERATING REPORT

GENERAL NOTES AND DISCLAIMER

The financial statements and supplemental information contained herein are unaudited, preliminary, and may not comply with generally accepted accounting principles (“GAAP”) in all material respects. In addition, the financial statements and supplemental information contained herein is provided to fulfill the requirements of the Office of the United States Trustee and have been derived from the books and records of the Debtors.

The results of operations contained herein are not necessarily indicative of results that are expected from any other period or for the full year and are not reflective of the results of operations, financial position, and cash flow of the Debtors in the future.

Numerous Debtor subsidiaries had been inactive (the “Inactive Subsidiaries”) prior to the Petition Date, and continued to be inactive during the reporting period covered herein. Where applicable, the Inactive Subsidiaries are shown in the overall considation of the Debtor entities.

---

Case No. 15-11880 (BLS)

Chapter 11

Quiksilver, Inc., et al.

Debtors-in-Possession

MOR - 1

Consolidating Schedule of Receipts and Disbursements

for September 9 to October 31, 2015

 

In U.S. Dollars		DC Shoes, Inc.				QS Retail, Inc.				QS Wholesale, Inc.				Quiksilver, Inc.				Hawk Designs, Inc.				DC Direct, Inc.				Fidra, Inc.				Mt. Waimea, Inc.				Q.S. Optics, Inc.				Quiksilver Entertainment, Inc.				Quiksilver Wetsuits, Inc.				Consolidated Filing Debtor Entities
Beginning Cash Balance		$	869,954			$	1,746,054			$	894,843			$	5,582,655			$	—				—				—				—				—				—				—			$	9,093,506
Total Cash Receipts			10,062,549				20,713,133				26,355,278				—				—				—				—				—				—				—				—				57,130,960
Operating Disbursements
Merchandise			14,060,255				457,051				25,670,216				—				—				—				—				—				—				—				—				40,187,523
Leases, Rent, & Utilities			60,518				6,208,889				1,993,302				77,742				—				—				—				—				—				—				—				8,340,451
Payroll & Related/Benefits			—				5,833,027				3,708,351				73,391				—				—				—				—				—				—				—				9,614,770
Freight/Customs			1,245,743				258,983				6,669,825				23,725				—				—				—				—				—				—				—				8,198,276
Taxes			151,890				1,666,956				52,619				18,055				—				—				—				—				—				—				—				1,889,520
Outside Sales Reps/Contractors			884,849				460,858				1,920,272				343,167				—				—				—				—				—				—				—				3,609,146
Insurance, Marketing & Legal			386,433				242,649				1,373,542				1,419,953				—				—				—				—				—				—				—				3,422,577
Other			108,579				888,805				463,185				771,481				—				—				—				—				—				—				—				2,232,051
Total Operating Disbursements			16,898,268				16,017,220				41,851,313				2,727,514				—				—				—				—				—				—				—				77,494,314
Non-Operating Disbursements
Professional Fees & Expenses			—				88,100				—				—				—				—				—				—				—				—				—				88,100
US Trustee Fees			—				—				—				—				—				—				—				—				—				—				—				—
Transfers to Non-US Borrowers [1]			—				—				1,762,581				6,500,000				—				—				—				—				—				—				—				8,262,581
DIP Interest and Fees			—				—				2,272,000				—				—				—				—				—				—				—				—				2,272,000
Total Non-Operating Disbursements			—				88,100				4,034,581				6,500,000				—				—				—				—				—				—				—				10,622,681
Total Disbursements		$	16,898,268			$	16,105,320			$	45,885,894			$	9,227,514			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	88,116,995
Net Cash Flow		$	(6,835,719	)		$	4,607,813			$	(19,530,615	)		$	(9,227,514	)		$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	(30,986,035	)
																																							Beginning Cash Balance:								9,093,506
																																											Net Cash Flow:				(30,986,035	)
																															Plus: DIP ABL Outstanding (10/31):																641,224
																															Plus: DIP Term Loan Outstanding (10/31):																67,652,756
																															Less: Pre-Petition ABL Outstanding at Filing:																(42,760,387	)
																															Net Financing Activity:																25,533,593
																															Ending Cash Balance:																3,641,064

 

[1]	Reflect transfers under the Debtor-in-Possession Credit Facility from the Lead Borrower and U.S. Guarantors to i) the Japanese Borrower, ii) the Australian Borrower, and iii) the Canadian Borrower.

---

Case No. 15-11880 (BLS)

Chapter 11

Quiksilver, Inc., et al.

Debtors-in-Possession

MOR - 1a

Bank Account Summary

for September 9, 2015 to October 31, 2015

 

Bank

Account Type

Entity

Bank Account # (last 4 digits)

GL Account #

Bank Balance [1]

Ledger Balance [1]

Reconciled (Yes /No)

Account Opened During Reporting Period

Bank of America

Receipts

DC Shoes, Inc.

x5130

101000-1

$

335,328

$

571,047

Yes

No

Bank of America

Check Disbursements

DC Shoes, Inc.

x5316

101030-1

19,666

(667,671

)

Yes

No

Bank of America

Wiring

DC Shoes, Inc.

[2]

x7221

—

—

n/a

Yes

Bank of America

Receipts

QS Retail, Inc.

x5074

101000-1

610,990

1,050,325

Yes

No

Bank of America

Wiring

QS Retail, Inc.

[2]

x7207

101010-1

7,920

7,920

Yes

Yes

Bank of America

Payroll

QS Retail, Inc.

x5079

101020-1

259,933

213,193

Yes

No

Bank of America

Check Disbursements

QS Retail, Inc.

x5340

101030-1

60,551

(3,377,348

)

Yes

No

First Hawaiian

Deposit

QS Retail, Inc.

x5312

101040-1

48,369

66,172

Yes

No

Bank of America

Receipts

QS Wholesale, Inc.

x5050

101000-1

1,993,722

2,148,910

Yes

No

Bank of America

Wiring

QS Wholesale, Inc.

[2]

x7202

101010-1

19,508

19,508

Yes

Yes

Bank of America

Payroll

QS Wholesale, Inc.

x5055

101020-1

542,553

524,183

Yes

No

Bank of America

Check Disbursements

QS Wholesale, Inc.

x5308

101030-1

31,751

(1,245,880

)

Yes

No

Bank of America

Operating

Quiksilver, Inc.

x7023

101010-1

4,857,528

4,870,524

Yes

No

Bank of America

Payroll

Quiksilver, Inc.

x5017

101020-1

83,446

83,332

Yes

No

Bank of America

Check Disbursements

Quiksilver, Inc.

x5290

101030-1

45,447

(1,027,771

)

Yes

No

Merrill Lynch

Investment

Quiksilver, Inc.

x7H96

101055

156,648

156,648

Yes

No

Bank of America

Utility Deposit

Quiksilver, Inc.

[3]

x0661

100050

125,001

125,000

Yes

Yes

Total Account Cash

$

9,198,359

$

3,518,092

N/A

Store Cash

QS Retail, Inc.

N/A

100000

123,573

123,573

Total Cash

$

9,321,931

$

3,641,665

 

[1]	Timing differences between bank balance and ledger balances are due to i) outstanding checks not yet funded as of 10/31 and ii) deposits-in-transit as of 10/31.

[2]	Accounts x7221, x7207, and x7202 were opened to allow the operating entities (DC Shoes, Inc., QS Wholesale, Inc., and QS Retail, Inc.) to use dedicated accounts for wire disbursements. Prior to the opening of these accounts, wire disbursements were being made from Quiksilver, Inc. account x7023.

[3]	Accounts x0661 (the “Utility Deposit Account”) was opened and funded with $125,000 on September 29, 2015. This Utility Deposit Account was established pursuant to the Final Order Approving Debtors’ Form of Adequate Assurance Payment.

[4]	Bank statements will be made available upon request.

“I attest that each of the Debtors’ cash accounts has been reconciled to monthly bank statements.”

 

/s/ Andrew Bruenjes

Andrew Bruenjes

Chief Financial Officer

---

Case No. 15-11880 (BLS)

Chapter 11

Quiksilver, Inc., et al.

Debtors-in-Possession

MOR - 1b

Schedule of Professional Fees and Expenses Paid

for September 9, 2015 to October 31, 2015

 

				Amounts Paid
Payee		Payor		Fees				Expenses
Restructuring Professionals				$	—			$	—
FTI Consulting, Inc.					—				—
Skadden, Arps, Slate, Meagher & Flom LLP					—				—
Kurtzman Carson Consultants LLC					—				—
Peter J. Solomon Company, L.P.					—				—
ICR, LLC					—				—
Pachulski Stang Ziehl & Jones LLP					—				—
Deloitte & Touche LLP					—				—
Deloitte Tax LLP					—				—
A&G Realty Partners, LLC		QS Retail, Inc.			25,000				—
Akin Gump Strauss Hauer & Feld LLP					—				—
Pepper Hamilton LLP					—				—
PJT Partners Inc.					—				—
Cooley LLP					—				—
Province, Inc.					—				—
Bayard, P.A.					—				—
Houlihand Lokey, Inc.					—				—
Kirkland & Ellis LLP					—				—
Hilco Real Estate LLC		QS Retail, Inc.			63,100				—
Total Restructuring Professional Fees and Expenses				$	88,100			$	—

---

Case No. 15-11880 (BLS)

Chapter 11

Quiksilver, Inc., et al.

Debtors-in-Possession

MOR - 2

Consolidating Statement of Operations

for September 9, 2015 to October 31, 2015

 

In U.S. Dollars		DC Shoes, Inc.				QS Retail, Inc.				QS Wholesale, Inc.				Quiksilver, Inc.				Hawk Designs, Inc.				DC Direct, Inc.				Fidra, Inc.				Mt. Waimea, Inc.				Q.S. Optics, Inc.				Quiksilver Entertainment, Inc.				Quiksilver Wetsuits, Inc.				Consolidated Filing Debtor Entities
Net Sales		$	18,629,057			$	19,331,324			$	38,426,547			$	67,808			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	76,454,735
Total Cost of Goods Sold			11,769,577				10,568,675				31,058,577				—				—				—				—				—				—				—				—				53,396,830
Gross Profit / (Loss)			6,859,480				8,762,649				7,367,969				67,808				—				—				—				—				—				—				—				23,057,906
Total SG&A Costs			31,752,976				10,576,485				(28,181,398	)			1,732,404				(25	)			—				—				—				—				—				—				15,880,442
Asset Impairments			—				8,567,770				89,237				—				—				—				—				—				—				—				—				8,657,007
Operating Income / (Loss)			(24,893,496	)			(10,381,606	)			35,460,131				(1,664,597	)			25				—				—				—				—				—				—				(1,479,543	)
Total Restructuring / Reorganization Expenses			—				957,597				11,367,028				446,024				—				—				—				—				—				—				—				12,770,649
Total Other Expenses			(5,989	)			995				2,269,039				(78,048	)			—				—				—				—				—				—				—				2,185,997
Net Income / (Loss) Before Taxes			(24,887,507	)			(11,340,198	)			21,824,064				(2,032,572	)			25				—				—				—				—				—				—				(16,436,189	)
Income Tax (Benefit) / Expense			255,478				—				—				6,717				—				—				—				—				—				—				—				262,195
Net Income / (Loss)		$	(25,142,986	)		$	(11,340,198	)		$	21,824,064			$	(2,039,289	)		$	25			$	—			$	—			$	—			$	—			$	—			$	—			$	(16,698,384	)

---

Case No. 15-11880 (BLS)

Chapter 11

Quiksilver, Inc., et al.

Debtors-in-Possession

MOR - 3

Consolidating Balance Sheet

as of October 31, 2015

 

In U.S. Dollars		DC Shoes, Inc.				QS Retail, Inc.				QS Wholesale, Inc.				Quiksilver, Inc.				Hawk Designs, Inc.				DC Direct, Inc.				Fidra, Inc.				Mt. Waimea, Inc.				Q.S. Optics, Inc.				Quiksilver Entertainment, Inc.				Quiksilver Wetsuits, Inc.				Consolidated Filing Debtor Entities
Cash & Cash Equivalents		$	(96,624	)		$	(1,916,165	)		$	1,446,721			$	4,207,132			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	3,641,065
Accounts Receivable			24,898,437				1,083,065				43,722,327				—				—				—				—				—				—				—				—				69,703,829
Other Receivables			278,830				466,866				4,026,823				—				—																												4,772,519
Inventory			9,649,670				40,920,292				35,764,239				—				—				—				—				—				—				—				—				86,334,201
Prepaid Expenses & Other Current Assets			1,670,898				4,886,696				5,728,260				3,290,664				—				—				—				—				—				—				—				15,576,519
Total Current Assets			36,401,211				45,440,755				90,688,371				7,497,797				—				—				—				—				—				—				—				180,028,132
Property, Plant & Equipment, Net			225,904				11,786,510				26,531,004				18,029,708				—				—				—				—				—				—				—				56,573,125
Trademarks & Other Intangible Assets, Net			1,018,212				—				43,179,467				9,608,769				—				—				—				—				—				—				—				53,806,448
Goodwill			—				—				—				—				—				—				—				—				—				—				—				—
Investment in Subsidiaries			—				—				—				—				—				—				—				—				—				—				—				—
Deferred Tax Assets - Long-Term			—				—				—				(76,690	)			—				—				—				—				—				—				—				(76,690	)
Deposits & Other Long-Term Assets			183,747				230,762				1,527,177				30,829				—				—				—				—				—				—				—				1,972,514
Total Long Term & Other Assets			1,427,862				12,017,272				71,237,648				27,592,615				—				—				—				—				—				—				—				112,275,398
Total Assets			37,829,073				57,458,027				161,926,019				35,090,412				—				—				—				—				—				—				—				292,303,530
Liabilities Not Subject to Compromise
DIP Loan Balance - Revolving Credit Facility			—				—				641,224				—				—				—				—				—				—				—				—				641,224
DIP Loan Balance - Term Loan			—				—				67,652,756				—				—				—				—				—				—				—				—				67,652,756
Accounts Payable			10,294,010				2,331,389				28,619,838				1,744,660				—				—				—				—				—				—				—				42,989,898
Accrued Liabilities			785,193				3,106,173				17,905,145				522,639				—				—				—				—				—				—				—				22,319,149
Income Taxes Payable			(158,053	)			13,876				258,450				201,265				—				—				—				—				—				—				—				315,537
Intercompany, Net			—				—				—				—				—				—				—				—				—				—				—				—
Deferred Tax Liabilities			—				—				—				—				—				—				—				—				—				—				—				—
Other Long-Term Liabilities			—				—				—				—				—				—				—				—				—				—				—				—
Total Liabilities Not Subject to Compromise			10,921,150				5,451,438				115,077,412				2,468,564				—				—				—				—				—				—				—				133,918,564
Total Liabilities Subject to Compromise [1]			(52,657,623	)			10,881,134				37,031,798				568,152,331				—				—				—				—				—				—				—				563,407,640
Total Liabilities			(41,736,473	)			16,332,572				152,109,211				570,620,894				—				—				—				—				—				—				—				697,326,204
Total Equity / (Deficit)			79,565,546				41,125,455				9,816,808				(535,530,482	)			—				—				—				—				—				—				—				(405,022,673	)
Total Liabilties and Equity			37,829,073				57,458,027				161,926,019				35,090,412				—				—				—				—				—				—				—				292,303,530

 

[1]	Liabilities Subject to Compromise reflect management’s estimates and may be subject to revision in future monthly operating reports.

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Case No. 15-11880 (BLS)

Chapter 11

Quiksilver, Inc., et al.

Debtors-in-Possession

MOR - 4

Consolidated Status of Postpetition Taxes

for September 9, 2015 to October 31, 2015

 

In U.S. Dollars		Beginning Tax Liability				Amount Withheld or Accrued				Amount Paid				Date Paid		Check No. or EFT		Ending Tax Liability [1]
Federal
Withholding		$	—			$	1,227,606			$	(1,227,606	)		Various		Various		$	—
FICA - Employee			—				617,275				(617,275	)		Various		Various			—
FICA - Employer			—				615,341				(615,341	)		Various		Various			—
Unemployment			—				4,433				(4,433	)		Various		Various			—
Income			—				—				—			Various		Various			—
Total Federal Taxes [1]			—				2,464,656				(2,464,656	)							—
State and Local
Withholding			—				459,998				(459,998	)		Various		Various			—
Sales & Use Tax			—				1,255,848				(552,424	)		Various		Various			703,424
Excise			—				21,377				(2,911	)		Various		Various			18,466
Unemployment			—				38,622				(38,622	)		Various		Various			—
Real Property			—				—				—			Various		Various			—
Personal Property			—				160,839				(204,054	)		Various		Various			(43,214	)
Income			—				2,317				(2,317	)		10/07/2015		Various			—
Other: Business License			—				11,433				(9,126	)		Various		Various			2,308
Other: Annual Reports			—				2,719				(956	)		Various		Various			1,763
Other: Tax Audit Payments			—				46,223				(6,243	)		Various		Various			39,980
Total State and Local [1]			—				1,999,377				(1,276,652	)							722,726
Total Taxes [1]		$	—			$	4,464,033			$	(3,741,308	)						$	722,726

 

[1]	The Debtors routinely file tax returns with applicable taxing authorities. Such tax returns are not attached due to their volume, and are available upon request.

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Case No. 15-11880 (BLS)

Chapter 11

Quiksilver, Inc., et al.

Debtors-in-Possession

MOR - 4a

Consolidated Summary of Unpaid Postpetition Debts

as of October 31, 2015

 

		Number of Days Outstanding
		Current				1-30				31-60				61-90				Over 90				Total
Accounts Payable, Trade		$	9,437,850			$	2,170,706			$	(642,296	)		$	—			$	—			$	10,966,260
Inventory Received Not Vouchered [1]			11,516,399				—				—				—				—				11,516,399
Accounts Payable, Manual [2]			20,507,238				—				—				—				—				20,507,238
		$	41,461,487			$	2,170,706			$	(642,296	)		$	—			$	—			$	42,989,898

 

[1]	Represents the value of inventory received from various suppliers, for which a related invoice had not been received by the Debtors, as of period-end.

[2]	Primarily represents period-end accruals for goods-in-transit.

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Case No. 15-11880 (BLS)

Chapter 11

Quiksilver, Inc., et al.

Debtors-in-Possession

MOR - 5

Consolidated Summary of Accounts Receivable

as of October 31, 2015

 

In U.S. Dollars		Number of Days Outstanding
		Current				1-30				31-60				61-90				>90				Total
Trade Receivables		$	52,808,835			$	7,168,285			$	4,506,342			$	1,421,848			$	9,398,793			$	75,199,030
Allowance for Bad Debts			(5,495,199	)																			(5,495,199	)
																						$	69,703,829

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Case No. 14-11659 (KG)

Chapter 11

Quiksilver, Inc., et. al.

Debtors-in-Possession

MOR - 5a

Debtors’ Questionnaire

for September 9, 2015 to October 31, 2015

 

		Yes		No
1. Have any assets been sold or transferred outside the normal course of business this reporting period? If yes, provide an explanation below.				X
2. Have any funds been disbursed from any account other than a debtor in possession account this reporting period? If yes, provide an explanation below.				X
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
5. Has any bank account been opened during the reporting period? If yes, provide documentation identifying the opened accounts(s). If an investment account has been opened, provide the required documentation pursuant to the Delaware Local Rule 4001-3.		X

 

[1]	See MOR1a for description of bank accounts opened during the reporting period.