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): December 23, 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 December 23, 2015, the Debtors filed with the Bankruptcy Court a monthly operating report for the period of November 1, 2015 through November 30, 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 November 1, 2015 through November 30, 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 30, 2015		By:		/s/ Thomas Chambolle
				Thomas Chambolle Chief Financial Officer

---

Exhibit Index

 

Exhibit No.		Description
99.1		Monthly Operating Report for the period of November 1, 2015 through November 30, 2015

Exhibit 99.1

IN THE UNITED STATES BANKRUPTCY COURT

FOR THE DISTRICT OF DELAWARE

 

		x
		:		Chapter 11
In re:		:
		:		Case No. 15-11880 (BLS)
QUIKSILVER, INC., et al.,		:
		:		Jointly Administered
Debtors.1		:
		:
		:
		x

NOTICE OF FILING OF DEBTORS’ MONTHLY OPERATING REPORT

FOR THE PERIOD OF NOVEMBER 30, 2015

PLEASE TAKE NOTICE that the above-captioned debtors and debtors in possession (collectively, the “Debtors”) have filed with the United States Bankruptcy Court for the District of Delaware the Debtors’ Monthly Operating Report for the Period of November 30, 2015, attached hereto as Exhibit A (the “Monthly Operating Report”).

 

Dated:		Wilmington, Delaware
		December 23, 2015

 

 

1	The Debtors and the last four digits of their respective taxpayer identification numbers are as follows:

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. (5846), 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.

Docket No. 593

Date Filed: 12/23/15

---

Mark S. Chehi, Esq. (I.D. No. 2855)

One Rodney Square

P.O. Box 636

Wilmington, Delaware 19899-0636

Telephone: (302) 651-3000

Fax: (302) 651-3001

- and -

John K. Lyons

Jessica S. Kumar

155 N. Wacker Dr.

Chicago, Illinois 60606

Telephone: (312) 407-0700

Fax: (312) 407-0411

Counsel for Debtors and Debtors in Possession

 

2

---

EXHIBIT A

---

UNITED STATES BANKRUPTCY COURT

DISTRICT OF DELAWARE

 

In re: Quiksilver, Inc., et al.		Case No. 15-11880 (BLS)
Debtors		Reporting Period: November 1, 2015 to November 30, 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				12/21/2015
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 Disbursement

for November 1 to November 30, 2015

 

In U.S. Dollars		D.C. Shoes, Inc.				QS Retail, Inc.				QS Wholesale, Inc.				Quiksilver, Inc.				Hawk Designs, Inc.				D.C. Direct, Inc.				Fidra, Inc.				Mt. Waimea, Inc.				Q.S. Optics, Inc.				Quiksilver Entertainment, Inc.				Quiksilver Wetsuits, Inc.				Consolidated Filing Debtor Entities
Beginning Cash Balance		$	(96,624	)		$	(1,916,165	)		$	1,446,721			$	4,207,132			$	—			$	—			$	—			$	—			$	—			$	—			$	—				3,641,064
Total Cash Receipts			8,989,751				13,037,709				15,982,609				—				—				—				—				—				—				—				—				38,010,068
Operating Disbursements
Merchandise			5,510,477				167,507				5,603,094				—				—				—				—				—				—				—				—				11,281,078
Leases, Rent, & Utilities			40,113				2,726,472				550,874				802,320				—				—				—				—				—				—				—				4,119,779
Payroll & Related/Benefits			—				1,592,742				2,738,402				12,134				—				—				—				—				—				—				—				4,343,278
Freight/Customs			623,320				91,606				4,195,966				—				—				—				—				—				—				—				—				4,910,892
Taxes			143,062				694,811				338,362				15,678				—				—				—				—				—				—				—				1,191,913
Outside Sales Reps/Contractors			226,807				50,964				585,752				80,926				—				—				—				—				—				—				—				944,449
Insurance, Marketing, & Legal			290,625				1,853,763				521,025				867,063				—				—				—				—				—				—				—				3,532,476
Other			17,495				542,039				1,050,881				488,057				—				—				—				—				—				—				—				2,098,472
Total Operating Disbursements			6,851,898				7,719,905				15,584,357				2,266,177				—				—				—				—				—				—				—				32,422,337
Non-Operating Disbursements
Professional Fees & Expenses			—				823,639				—				—				—				—				—				—				—				—				—				823,639
DIP Interest and Fees			—				—				1,644,395				—				—				—				—				—				—				—				—				1,644,395
Total Non-Operating Disbursements			—				823,639				1,644,395				—				—				—				—				—				—				—				—				2,468,034
Total Disbursements			6,851,898				8,543,544				17,228,752				2,266,177																																34,890,371
Net Cash Flow			2,137,852				4,494,165				(1,246,143	)			(2,266,177	)																															3,119,697
																																							Beginning Cash Balance								3,641,064
																																											Net Cash Flow				3,119,697
																																							Change in DIP ABL Balance:								(641,224	)
																																							Change in DIP Term Loan Balance:								10,000,000
																																							Net Financing Activity								9,358,776
																																							Ending Cash Balance								16,119,537

---

Case No. 15-11880 (BLS)

Chapter 11

 

Quiksilver, Inc., et al.

Debtors-in-Possession

MOR - 1a

Bank Account Summary

for November 1, 2015 to November 30, 2015

 

Bank Account #

Account Opened During

Bank

Account Type

Entity

(last 4 digits)

GL Account #

Bank Balance [1]

Ledger Balance [1]

Reconciled (Yes / No)

Reporting Period

Bank of America

Receipts

DC Shoes, Inc.

x5130

101000-1

$

1,716,270

$

1,759,282

Yes

No

Bank of America

Check Disbursements

DC Shoes, Inc.

x5316

101030-1

139,859

(276,926

)

Yes

No

Bank of America

Wiring

DC Shoes, Inc.

x7221

101010-1

801,938

801,938

Yes

No

Bank of America

Receipts

QS Retail, Inc.

x5074

101000-1

2,090,344

2,821,433

Yes

No

Bank of America

Wiring

QS Retail, Inc.

x7207

101010-1

104,484

104,683

Yes

No

Bank of America

Payroll

QS Retail, Inc.

x5079

101020-1

252,749

208,718

Yes

No

Bank of America

Check Disbursements

QS Retail, Inc.

x5340

101030-1

183,572

(2,118,433

)

Yes

No

First Hawaiian

Deposit

QS Retail, Inc.

x5312

101040-1

47,874

67,120

Yes

No

Bank of America

Receipts

QS Wholesale, Inc.

x5050

101000-1

697,034

882,480

Yes

No

Bank of America

Wiring

QS Wholesale, Inc.

x7202

101010-1

2,163,449

2,163,449

Yes

No

Bank of America

Payroll

QS Wholesale, Inc.

x5055

101020-1

344,166

325,925

Yes

No

Bank of America

Check Disbursements

QS Wholesale, Inc.

x5308

101030-1

153,218

(1,290,246

)

Yes

No

Bank of America

Operating

Quiksilver, Inc.

x7023

101010-1

10,888,892

10,901,201

Yes

No

Bank of America

Payroll

Quiksilver, Inc.

x5017

101020-1

71,312

71,198

Yes

No

Bank of America

Check Disbursements

Quiksilver, Inc.

x5290

101030-1

168,822

(700,835

)

Yes

No

Merrill Lynch

Investment

Quiksilver, Inc.

x7H96

101055

156,648

156,648

Yes

No

Bank of America

Utility Deposit

Quiksilver, Inc.

x0661

100050

125,032

125,032

Yes

No

Total Account Cash

$

20,105,665

$

16,002,667

N/A

Store Cash

QS Retail, Inc.

N/A

100000

116,870

116,870

Total Cash

$

20,222,535

$

16,119,537

 

[1]	Timing differences between bank and ledger balances are due to i) outstanding checks not yet funded as of 11/30 and ii) deposits-in-transit as of 11/30.

[2]	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 November 1, 2015 to November 30, 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							—				—
Akin Gump Strauss Hauer & Feld LLP							—				—
Pepper Hamilton LLP							—				—
PJT Partners Inc.							—				—
Cooley LLP							—				—
Province, Inc.							—				—
Bayard, P.A.							—				—
Houlihan Lokey, Inc.							—				—
Kirkland & Ellis LLP							—				—
Hilco Real Estate LLC			QS Retail, Inc.				823,639				—
Total Restructuring Professional Fees and Expenses						$	823,639			$	—

---

Case No. 15-11880 (BLS)

Chapter 11

 

Quiksilver, Inc., et al.

Debtors-in-Possession

MOR - 2

Consolidating Statement of Operations Final Draft

For November 1, 2015 to November 30, 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			6,135,997				11,997,848				8,822,320				38,750				—				—				—				—				—				—				—				26,994,914
Total Cost of Goods Sold			4,611,848				5,866,827				5,729,426				—				—				—				—				—				—				—				—				16,208,101
Gross Profit / (Loss)			1,524,149				6,131,021				3,092,893				38,750				—				—				—				—				—				—				—				10,786,813
Total SG&A Costs			695,027				6,577,385				12,000,583				386,397				—				—				—				—				—				—				—				19,659,392
Asset Impairments			—				—				—				—				—				—				—				—				—				—				—				—
Operating Income / (Loss)			829,122				(446,364	)			(8,907,690	)			(347,647	)			—				—				—				—				—				—				—				(8,872,579	)
Total Restructuring / Reorganization Expenses			—				38,364				4,453,548				10,824,402				—				—				—				—				—				—				—				15,316,315
Total Other Expenses			(15,269	)			33,127				883,116				(9,760	)			—				—				—				—				—				—				—				891,214
Net Income / (Loss) Before Taxes			844,390				(517,856	)			(14,244,354	)			(11,162,289	)			—																												(25,080,108	)
Income Tax (Benefit) / Expense			7,771				—				—				—				—				—				—				—				—				—				—				7,771
Net Income / (Loss)			836,619				(517,856	)			(14,244,354	)			(11,162,289	)			—				—				—				—				—				—				—				(25,087,880	)

---

Case No. 15-11880 (BLS)

Chapter 11

 

Quiksilver, Inc., et al.

Debtors-in-Possession

MOR - 3

Consolidating Balance Sheet Final Draft

as of November 30, 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		$	2,284,294			$	1,200,390			$	2,331,609			$	10,303,244			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	16,119,537
Accounts Receivable			21,642,104				1,276,200				37,129,189				—				—				—				—				—				—				—				—				60,047,493
Other Receivables			278,830				452,633				4,453,347				(4,446	)			—																												5,180,363
Inventory			10,911,600				36,928,520				43,586,314				—				—				—				—				—				—				—				—				91,426,434
Prepaid Expenses & Other Current Assets			3,038,857				4,473,619				6,015,439				3,290,664				—				—				—				—				—				—				—				16,818,579
Total Current Assets			38,155,685				44,331,361				93,515,898				13,589,463				—				—				—				—				—				—				—				189,592,407
Property, Plant & Equipment, Net			206,716				11,520,883				25,938,880				17,843,784				—				—				—				—				—				—				—				55,510,263
Trademarks & Other Intangible Assets, Net			1,000,503				—				43,128,165				9,635,439				—				—				—				—				—				—				—				53,764,107
Goodwill			—				—				—				—				—				—				—				—				—				—				—				—
Investment in Subsidiaries			—				—				—				—				—				—				—				—				—				—				—				—
Deferred Tax Assets - Long-Term			—				—				—				(76,690	)			—				—				—				—				—				—				—				(76,690	)
Deposits & Other Long-Term Assets			183,747				242,885				1,623,577				30,829				—				—				—				—				—				—				—				2,081,037
Total Long Term & Other Assets			1,390,966				11,763,768				70,690,621				27,433,362				—				—				—				—				—				—				—				111,278,717
TOTAL ASSETS			39,546,651				56,095,129				164,206,519				41,022,825				—				—				—				—				—				—				—				300,871,124
Liabilities Not Subject to Compromise
DIP Loan Balance - Revolving Credit Facility			—				—				—				—				—				—				—				—				—				—				—				—
DIP Loan Balance - Term Loan			—				—				77,652,756				—				—				—				—				—				—				—				—				77,652,756
Accounts Payable			14,630,348				1,980,131				36,219,838				782,487				—				—				—				—				—				—				—				53,612,804
Accrued Liabilities			1,098,107				3,403,220				20,404,416				778,741				—				—				—				—				—				—				—				25,684,484
Income Taxes Payable			(297,982	)			13,876				258,450				201,265				—				—				—				—				—				—				—				175,609
Intercompany, Net			—				—				—				—				—				—				—				—				—				—				—				—
Deferred Tax Liabilities			—				—				—				21,802,511				—				—				—				—				—				—				—				21,802,511
Other Long-Term Liabilities			—				—				37,080				—				—				—				—				—				—				—				—				37,080
Total Liabilities Not Subject to Compromise			15,430,474				5,397,226				134,572,539				23,565,005				—				—				—				—				—				—				—				178,965,244
Total Liabilities Subject to Compromise			(55,669,713	)			10,185,222				39,310,425				558,337,751				—				—				—				—				—				—				—				552,163,685
TOTAL LIABILITIES			(40,239,239	)			15,582,449				173,882,964				581,902,755				—				—				—				—				—				—				—				731,128,928
Total Equity / (Deficit)			79,785,890				40,512,680				(9,676,444	)			(540,879,931	)			—				—				—				—				—				—				—				(430,257,805	)
TOTAL LIABILITIES AND EQUITY			39,546,651				56,095,129				164,206,519				41,022,825				—				—				—				—				—				—				—				300,871,124

 

[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 November 1, 2015 to November 30, 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		$	—			$	562,297			$	(562,297	)		Various		Various		$	—
FICA - Employee			—				272,778				(272,778	)		Various		Various			—
FICA - Employer			—				271,239				(271,239	)		Various		Various			—
Unemployment			—				2,134				(2,134	)		Various		Various			—
Income			—											N/A		N/A			—
Total Federal Taxes			—				1,108,448				(1,108,448	)							—
State and Local
Withholding			—				201,268				(201,268	)		Various		Various			—
Sales & Use Tax			703,424				872,097				(703,567	)		Various		Various			871,954
Excise			18,466				(6,841	)			(17,256	)		Various		Various			(5,631	)
Unemployment			—				18,784				(18,784	)		Various		Various			—
Real Property			—				255,513				(286,143	)		Various		Various			(30,630	)
Personal Property			(43,214	)			94,005				(27,919	)		Various		Various			22,872
Income			—				11,500				—			N/A		N/A			11,500
Other: Business License			2,308				6,109				(639	)		Various		Various			7,778
Other: Annual Reports			1,763				1,118				(3,915	)		Various		Various			(1,034	)
Other: DE Franchise Tax			—				15,083				—			N/A		N/A			15,083
Other: Tax Audit Payments			39,980				192,473				—			N/A		N/A			232,453
Total State and Local [1]			722,727				1,661,109				(1,259,490	)							1,124,346
Total Taxes [1]		$	722,727			$	2,769,556			$	(2,367,937	)						$	1,124,346

 

[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.

---

Case No. 15-11880 (BLS)

Chapter 11

 

Quiksilver, Inc., et al.

Debtors-in-Possession

MOR - 4a

Consolidated Summary of Unpaid Postpetition Debts

as of November 30, 2015

 

		In U.S. Dollars
		Current				1-30				31-60				61-90				Over 90				Total
Accounts Payable, Trade [1]		$	8,349,276			$	5,466,318			$	2,149,532			$	(427,592	)						$	15,537,533
Inventory Received Not Vouchered [2]			11,247,659																				11,247,659
Accounts Payable, Manual [3]			26,827,612																				26,827,612
		$	46,424,546			$	5,466,318			$	2,149,532			$	(427,592	)		$	—			$	53,612,804

 

[1]	Accounts Payable, Trade is aged relative to payment terms in effect as of the Petition Date. Actual payment terms for most of the Debtor’ critical vendors have, however, been extended beyond Petition Date terms (to net 75 days) pursuant to trade agreements executed after the Petition Date.

[2]	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.

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

---

Case No. 15-11880 (BLS)

Chapter 11

 

Quiksilver, Inc., et al.

Debtors-in-Possession

MOR - 5

Consolidated Summary of Accounts Receivable

as of November 30, 2015

 

In U.S. Dollars		Number of Days Outstanding
		Current				1-30				31-60				61-90				>90				Total
Trade Receivables		$	42,217,833			$	5,912,301			$	4,629,573			$	3,264,355			$	8,866,067			$	64,785,054
Allowance for Bad Debts			(4,737,561	)																			(4,737,561	)
																						$	60,047,493

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Case No. 15-11880 (BLS)

Chapter 11

 

Quiksilver Inc., et. al.

Debtors-in-Possession

MOR-5a

Debtors’ Questionnaire

for November 1, 2015 to November 30, 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]	On November 13, a certificate of no objection was filed related to the Debtor’s sale of Ampla Assets for an an aggregate purchase price of $200,000.

---

Miscellaneous:
15-11880-BLS Quiksilver, Inc.
Type: bk		Chapter: 11 v		Office: 1 (Delaware)
Assets: y		Judge: BLS		Case Flag: LEAD, MEGA,
				CLMSAGNT, SealedDoc(s)

U.S. Bankruptcy Court

District of Delaware

Notice of Electronic Filing

The following transaction was received from Van C. Durrer entered on 12/23/2015 at 2:22 PM EST and filed on 12/23/2015

Case Name:              Quiksilver, Inc.

Case Number:          15-11880-BLS

Document Number: 593

Docket Text:

Debtor-In-Possession Monthly Operating Report for Filing Period November 2015 Filed by Quiksilver, Inc.. (Durrer, Van)

The following document(s) are associated with this transaction:

Document description:Main Document

Original filename:H:tempConvertNov MOR.pdf

Electronic document Stamp:

[STAMP bkecfStamp_ID=983460418 [Date=12/23/2015] [FileNumber=13561316-

0] [4be549156a882d037c88a2c1bebcfd7778e476c21f5bca70f464f976d9b20da171 3bb480616ce4656faae24e3c45bed2f89c263c1a14104b11c05b4b2446970f]]

15-11880-BLS Notice will be electronically mailed to:

David G. Aelvoet on behalf of Creditor City Of El Paso

davida@publicans.com

Justin R. Alberto on behalf of Creditor Committee Official Committee of Unsecured Creditors

jalberto@bayardlaw.com, bankserve@bayardlaw.com;lmorton@bayardlaw.com;cdavis@bayardlaw.com

John R. Ashmead on behalf of Interested Party Deleware Trust Company, as Indenture Trustee for the 7.875% Senior Secured Notes

ashmead@sewkis.com

Elizabeth Banda Calvo on behalf of Creditor Arlington ISD

rgleason@pbfcm.com, ebcalvo@pbfcm.com;ebcalvo@ecf.inforuptcy.com

John Douglas Beck on behalf of Creditor Deutsche Trustee Company Limited

john.beck@hoganlovells.com, ronald.cappiello@hoganlovells.com

Reem J Bello on behalf of Creditor Dragon Crowd Garment, Inc.

rbello@wgllp.com, kadele@wgllp.com;nlockwood@wgllp.com

William Pierce Bowden on behalf of Creditor Blue Diamond Crossing II, LLC

wbowden@ashby-geddes.com

Dustin Parker Branch on behalf of Creditor Boulevard Invest LLC

dustin.branch@kattenlaw.com, donna.carolo@kattenlaw.com;ecf.lax.docket@kattenlaw.com

Dustin Parker Branch on behalf of Creditor The Macerich Company

dustin.branch@kattenlaw.com, donna.carolo@kattenlaw.com;ecf.lax.docket@kattenlaw.com

Michael G. Busenkell on behalf of Interested Party Alan Vickers

mbusenkell@gsbblaw.com

Michael G. Busenkell on behalf of Interested Party Andy Mooney