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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K/A
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): July 31, 1999
Favorite Brands International, Inc.
and the Guarantors identified in Footnote (1) below
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(Exact Name of Registrant as Specified in Charter)
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Delaware 333-67221 75-2608980
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(State or Other Jurisdiction of (Commission File Number) (I.R.S. Employer Identification No.)
Incorporation)
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2121 Waukegan Road, Bannockburn, Illinois 60015
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(Address of Principal Executive Offices) (Zip Code)
1) The following domestic direct subsidiaries of Favorite Brands
International, Inc. are Guarantors of the Company's Senior Notes and are Co-
Registrants, each of which is incorporated in the jurisdiction and has the
I.R.S. Employer Identification Number indicated: Trolli Inc., a Delaware
corporation (52-1716800) and Sather Trucking Corp., a Delaware corporation
(41-1849044).
Registrant's telephone number, including area code: (847) 405-5800
Item 5. Other Events
On July 31, 1999 Favorite Brands International, Inc. (the "Company") filed in
the United States Bankruptcy Court for the District of Delaware the monthly
operating report for its June 1999 fiscal period which is attached hereto as
Exhibit 99.2.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(a) Financial Statements of Businesses Acquired. Not applicable.
(b) Pro Forma Financial Information. Not applicable.
(c) Exhibits.
99.2 Monthly Operating Report
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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.
Favorite Brands International, Inc.
Dated: August 16, 1999 By: /s/ Steven F. Kaplan
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President, Chief Operating Officer
and Chief Financial Officer
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EXHIBIT INDEX
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Exhibit No. Description of Exhibit
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99.2 Monthly Operating Report
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TRANSMITTAL OF FINANCIAL REPORTS AND
CERTIFICATION OF COMPLIANCE WITH
UNITED STATES TRUSTEE OPERATING REQUIREMENTS
FOR THE PERIOD ENDED June 26, 1999
Debtors: Favorite Brands International Holding Corp., Favorite Brands
International, Inc., Trolli Inc., and Sather Trucking Corporation (the
"Debtors")
Case Numbers: 99-726 (PJW) through 99-729 (PJW)
As President of the Debtors, I affirm to the best of my knowledge, information
and belief:
1) That I have reviewed the financial statements attached hereto, consisting
of:
[X] Statement of Cash Receipts and Disbursements
[X] Accounts Receivable and Postpetition Accounts Payable Aging Statements
[X] Statement of Payments to Professionals
and that they have been prepared in accordance with normal and customary
accounting practices, and fairly and accurately reflect the debtors financial
activity for the period stated.
2) That the insurance as described in Section 3 of the Operating Instructions
and Reporting Requirements for Chapter 11 cases are current and have been
paid in the normal course of business.
3) That all postpetition taxes as described in Section 4 of the Operating
Instructions and Reporting Requirements for Chapter 11 cases are current
and have been paid in the normal course of business.
4) That no payments have been made to officers and directors of the Debtors
except as authorized pursuant to orders of the Bankruptcy Court including
the Order Under 11 U.S.C. (S)(S)105, 363 and 365 Authorizing (A)
Implementation of Key Employee Retention Program, (B) Implementation of
Severance Program, (C) Modification of Retirement Plans, (D) Assumption of
or Entry Into Certain Employment Agreements With Key Executives, and (E)
Granting Other Relief (approved on April 30, 1999).
5) That no professional fees (attorney, accountant, etc.) have been paid
except as provided in the (1) Order Authorizing Retention of Professionals
by Debtors in the Ordinary Course of Business (entered on March 31, 1999)
or (2) Administrative Order 11 U.S.C. (S)(S)105(a) and 331 Establishing
Procedures for Interim Compensation and Reimbursement of Expenses of
Professionals (entered on March 31, 1999).
The attached monthly report was prepared by the Debtors under my direction and
supervision. The Debtors verify that to the best of its knowledge, the
information provided herein is true and correct.
Dated: /s/ Steven F. Kaplan
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Debtors in Possession
Steven F. Kaplan
President, Chief Operating Officer,
and Chief Financial Officer
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FAVORITE BRANDS INTERNATIONAL HOLDING CORP.
Statement of Cash Disbursements
For the Period
(Thousands of Dollars)
Debtors: Favorite Brands International Holding Corp., Favorite Brands
International, Inc., Trolli Inc., and Sather Trucking Corporation (the
"Debtors")
Case Numbers: 99-726PJW through 99-729PJW
DISBURSEMENTS DURING PERIOD
(deconsolidated and excluding intradebtor transfers):
Favorite Brands Holding Corp. $ -
Favorite Brands International, Inc. $116,724
Trolli Inc. $ 8,371
Sather Trucking Corporation $ 1,975
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Total $127,070
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FAVORITE BRANDS INTERNATIONAL HOLDING CORP.
Statement of Cash Receipts and Disbursements
For the Period
(Thousands of Dollars)
Debtors: Favorite Brands International Holding Corp., Favorite Brands
International, Inc., Trolli Inc., and Sather Trucking Corporation
(the "Debtors")
Case Numbers: 99-726PJW through 99-729PJW
Cash Receipts and Disbursements Detail
(consolidated)
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Favorite Brands International, Inc.
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Holdings FBI FBI FBI FBI FBI
1st National Bank of Bank of Campbell & Chase/ Kidd
BANK NAME: Bank of Chicago America America Fetter Investment
ACCOUNT #: 55-61787 81887-00953 58552174 50742-6 323-845851
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<S> <C> <C> <C> <C> <C> <C>
Beginning Bank Ledger Balance $ 21 $ 2,498 $ 41 $ 27 $ 29,572 $ -
Receipts for Period 72,945 5 68 431,720
Disbursements for Period 72,824 432,741
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Ending Bank Ledger Balance $ 21 $ 2,619 $ 46 $ 95 $ 28,551 $ -
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RECONCILIATION TO GENERAL LEDGER
Ending Bank Ledger Balance $ 21 $ 2,619 $ 46 $ 95 $ 28,551 $ -
Outstanding Checks 3,280 6
Deposits in Transit
Other Reconciling Items 1,341 - 86
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Total Cash $ 21 $ 680 $ 46 $ 95 $ 28,637 $ (6)
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Favorite Brands International, Inc.
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FBI Farley Farley Farley Farley Farley
BANK NAME: Petty Cash Bank of Bank of Bank of Merrill Lynch
ACCOUNT #: America America America Petty
8188-4-00945 8765-7-60790 8765-0-60789 626-95S Cash
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<S> <C> <C> <C> <C> <C> <C>
Beginning Bank Ledger Balance $ - $ - $ - $ - $ 225 $ 6
Receipts for Period 42,592 2,343 8,302
Disbursements for Period 42,592 2,343 8,302
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Ending Bank Ledger Balance $ - $ - $ - $ - $ 225 $ 6
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RECONCILIATION TO GENERAL LEDGER
Ending Bank Ledger Balance $ - $ - $ - $ - $ 225 $ 6
Outstanding Checks - 560 1,544
Deposits in Transit 52
Other Reconciling Items 9 (52) 560 1,544
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Total Cash $ 9 $ - $ - $ - $ 225 $ 6
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(1) Amounts are held in individual bank accounts specific for each owner/operators' deposit to Sather Trucking.
(2) Amount does not agree to cash per the June 26, 1999 balance sheet due to reclassifications of book overdrafts to payables in
accordance with Generally Accepted Accounting Principles. Additionally, Favorite Brands International Holding Corp's cash is
not included on the attached balance sheet.
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FAVORITE BRANDS INTERNATIONAL HOLDING CORP.
Statement of Cash Receipts and Disbursements
For the Period
(Thousands of Dollars)
Debtors: Favorite Brands International Holding Corp., Favorite Brands
International, Inc., Trolli Inc., and Sather Trucking Corporation
(the "Debtors")
Case Numbers: 99-726PJW through 99-729PJW
Cash Receipts and Disbursements Detail
(consolidated)
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Favorite Brands International, Inc. Sather Trucking Corporation
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Sathers Sathers Sathers STC STC
United Prairie United Prairie Norwest United Prairie United Prairie
BANK NAME: Bank Bank Bank Bank
ACCOUNT #: 40619 40897 273-0015886 040037 Various(1)
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Beginning Bank Ledger Balance $ 114 $ 32 $ - $ 58 $ 207
Receipts for Period 14,137 611 1,510 2,015
Disbursements for Period 14,074 611 1,510 1,975
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Ending Bank Ledger Balance $ 177 $ 32 $ - $ 98 $ 207
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RECONCILIATION TO GENERAL LEDGER
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Ending Bank Ledger Balance $ 177 $ 32 $ - $ 98 $ 207
Outstanding Checks 1,115 31 251
Deposits in Transit 1 (1)
Other Reconciling Items 41
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Total Cash $ (896) $ - $ - $ (154) $ 207
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Trolli Inc.
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Trolli Trolli Trolli Trolli Trolli
Bank of Bank of Bank of First Union 1st National
BANK NAME: America America America Bank in Creston
ACCOUNT #: 8765-7-62355 8765-9-62354 8765-5-61583 2651901387172 375162
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<S> <C> <C> <C> <C> <C>
Beginning Bank Ledger Balance $ - $ - $ - $ 3 $ -
Receipts for Period 7,565 787 -
Disbursements for Period 7,565 787 - 1
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Ending Bank Ledger Balance $ - $ - $ - $ 2 $ -
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RECONCILIATION TO GENERAL LEDGER
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Ending Bank Ledger Balance $ - $ - $ - $ 2 $ -
Outstanding Checks 816 181 16
Deposits in Transit -
Other Reconciling Items (7) (10)
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Total Cash $ (816) $ (188) $ (26) $ 2 $ -
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Trolli Inc.
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Trolli Trolli Trolli Trolli
1st National 1st National Nova Scotia Total(2)
BANK NAME: Bank of Creston Bank of Creston Petty Cash Bank
ACCOUNT #: 2025443 2025450 1113212
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Beginning Bank Ledger Balance $ 16 $ 4 $ 17 $ 32,841
Receipts for Period 5 584,605
Disbursements for Period 16 2 585,343
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Total Cash $ - $ 7 $ - $ 17 $ 32,103
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RECONCILIATION TO GENERAL LEDGER
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Ending Bank Ledger Balance $ - $ 7 $ - $ 17 $ 32,103
Outstanding Checks - 1 7,801
Deposits in Transit (2) 50
Other Reconciling Items 1 3,513
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Total Cash $ - $ 4 $ 1 $ 17 $ 27,864
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(1) Amounts are held in individual bank accounts specific for each
owner/operators' deposit to Sather Trucking.
(2) Amount does not agree to cash per the June 26, 1999 balance sheet due to
reclassifications of book overdrafts to payables in accordance with
Generally Accepted Accounting Principles. Additionally, Favorite Brands
International Holding Corp's cash is not included on the attached balance
sheet.
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FAVORITE BRANDS INTERNATIONAL HOLDING CORP.
Aging of Accounts Receivable and Postpetition Accounts Payable
For the Period
(Thousands of Dollars)
Debtors: Favorite Brands International Holding Corp., Favorite Brands
International, Inc., Trolli Inc., and Sather Trucking Corporation (the
"Debtors")
Case Numbers: 99-726PJW through 99-729PJW
AGING OF ACCOUNTS RECEIVABLE AND ACCOUNTS PAYABLE
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AGING OF ACCOUNTS RECEIVABLE
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0 - 30 days old $ 36,141
31 - 60 days old 8,123
61 - 90 days old 1,219
+ 91 days old 734
Other A/R 17,897
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Total Accounts Receivable 64,114
Allowance for doubtful accounts 18,708
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Accounts Receivable (Net) $ 45,406
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AGING OF POSTPETITION ACCOUNTS PAYABLE
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0 - 30 days old $ 13,672
31 - 60 days old 190
61 - 90 days old 20
+ 91 days old -
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Total Post Petition Accounts Payable $ 13,882
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FAVORITE BRANDS INTERNATIONAL HOLDING CORP.
Statement of Payments to Professionals
For the Period
(Thousands of Dollars)
Debtors: Favorite Brands International Holding Corp., Favorite Brands
International, Inc., Trolli Inc., and Sather Trucking Corporation (the
"Debtors")
Case Numbers: 99-726PJW through 99-729PJW
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Date of Court
Type of Order Authorizing Amount Amount Total Paid
Professional Payment Approved Paid to Date
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<S> <C> <C> <C> <C> <C>
Skadden, Arps, Slate, Meagher & Flom debtor attorney N/A N/A $ - $ 200
Wasserstein Perella & Co. debtor financial advisors N/A N/A - 163
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Total Payments to Professionals $ - $ - $ 363
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