UNITED STATES BANKRUPTCY COURT
DISTRICT OF DELAWARE

In re Palm Harbor Homes, Inc., et. al.
  
Case No. 10-13849 to 10-13854
Debtors
  
Reporting Period: 11/30/2010 - 12/24/2010

MONTHLY OPERATING REPORT
File with Court and submit copy to United States Trustee within 30 days after end of month.

Submit copy of report to any official committee appointed in the case.

   
Document
Explanation
Affidavit/Supplement
REQUIRED DOCUMENTS
Form No.
Attached
Attached
Attached
Schedule of Cash Receipts and Disbursements
MOR-1
Yes
No
No
     Bank Reconciliation (or copies of debtor's bank reconciliations)
MOR-1a
No
No
Yes
     Schedule of Professional Fees Paid
MOR-1b
Yes
No
No
     Copies of bank statements
  
No
No
No
     Cash disbursements journals
  
No
No
No
Statement of Operations
MOR-2
Yes
No
No
Balance Sheet
MOR-3
Yes
No
No
Status of Postpetition Taxes
MOR-4
No
No
Yes
    Copies of IRS Form 6123 or payment receipt
  
No
No
No
    Copies of tax returns filed during reporting period
  
No
No
No
Summary of Unpaid Postpetition Debts
MOR-4
Yes
No
No
    Listing of aged accounts payable
MOR-4
Yes
No
No
Accounts Receivable Reconciliation and Aging
MOR-5
Yes
No
No
Debtor Questionnaire
MOR-5
Yes
No
No

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/ Brian Cejka
  
1/28/2011
    
Signature of Authorized Individual*
  
Date
    
         
Brian E. Cejka
  
Chief Restructuring 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.
 
MOR
 
 
 

In re Palm Harbor Homes, Inc., et. al.
Case No.
Debtors
10-13849 to 10-13854
 
Reporting Period: 11/30/2010 - 12/24/2010

SCHEDULE OF CASH RECEIPTS AND DISBURSEMENTS (MOR-1)

('000 USD)
  
Current Month - Actual
    
Current Month - Actual
    
Current Month - Actual
    
Current Month -
Actual
    
Current Month -
Actual
    
Current Month -
Actual
    
Current Month -
Actual
        
Case No.
  
10-13850
    
10-13849
    
10-13854
    
10-13851
    
10-13852
    
10-13853
              
   
Joint Admin Docket
                                  
Total
    
Budget
  
Debtor Name
  
Palm Harbor Homes, 
Inc.
    
Palm Harbor
Albemarle, LLC
    
Nationwide Homes,
Inc.
    
Palm Harbor Real
Estate, LLC
    
Palm Harbor
GenPar, LLC
    
Palm Harbor
Manufacturing, LP
    
Debtors
Consolidated
    
Debtors
Consolidated
  
                                                             
CASH BEGINNING OF THE MONTH
   $ 3,488.28     $ -     $ -     $ -     $ -     $ -     $ 3,488.28     $ 3,503.14  
                                                                 
RECEIPTS
                                                                
Accounts Receivable
     7,410.51       -       678.14       -       -       4,401.90       12,490.55       -  
Receipts from Non-Debtor Subsidiaries
     245.00       -       -       -       -       -       245.00       -  
Other
     59.64       -       -       -       -       -       59.64       -  
                                                                 
TOTAL RECEIPTS
     7,715.15       -       678.14       -       -       4,401.90       12,795.19       10,667.75  
DISBURSEMENTS (NOTE 2)
                                                                
Materials Purchases
     (4,536.15 )     -       -       -       -       -       (4,536.15 )     -  
Transportation and Subcontractors
     (1,378.73 )     -       -       -       -       -       (1,378.73 )        
Other Vendor Payments (Note 3)
     (2,048.14 )     -       -       -       -       -       (2,048.14 )        
Payroll and Payroll Taxes
     (4,325.57 )     -       -       -       -       -       (4,325.57 )     -  
EFT's to 401K Accounts
     (215.54 )     -       -       -       -       -       (215.54 )     -  
Self Insurance
     (744.82 )     -       -       -       -       -       (744.82 )     -  
Sales Taxes Paid
     (438.72 )     -       -       -       -       -       (438.72 )     -  
Other Taxes Paid
     (2.60 )     -       -       -       -       -       (2.60 )     -  
Bank Fees
     (16.57 )     -       -       -       -       -       (16.57 )     -  
Utility Assurance Deposit
     (225.00 )     -       -       -       -       -       (225.00 )     -  
Other Disbursements
     (66.91 )     -       -       -       -       -       (66.91 )     -  
                                                                 
TOTAL DISBURSEMENTS
     (13,998.75 )     -       -       -       -       -       (13,998.75 )     (18,835.02 )
                                                                 
DIP FACILITY ACCOUNT:
                                                                
Net DIP Facility Funding
     5,329.40       -       -       -       -       -       5,329.40       5,664.13  
                                                                 
NET CASH FLOW
     (954.20 )     -       678.14       -       -       4,401.90       4,125.84       (2,503.14 )
(Receipts Less Disbursements)
                                                                
                                                                 
INTERCOMPANY EFT'S
     5,064.97       -       (663.07 )     -       -       (4,401.90 )     -       -  
                                                                 
                                                                 
CASH-END OF MONTH
   $ 7,599.04     $ -     $ 15.07     $ -     $ -     $ -     $ 7,614.11     $ 1,000.00  
                                                                 
ROLL FORWARD
                                                                
CASH BEGINNING OF THE MONTH
   $ 3,488.28     $ -     $ -     $ -     $ -     $ -     $ 3,488.28     $ 3,503.14  
NET CASH FLOW
     (954.20 )     -       678.14       -       -       4,401.90       4,125.84       (2,503.14 )
INTERCOMPANY EFT'S
     5,064.97       -       (663.07 )     -       -       (4,401.90 )     -       -  
CASH-END OF MONTH
   $ 7,599.04     $ -     $ 15.07     $ -     $ -     $ -     $ 7,614.11     $ 1,000.00  

THE FOLLOWING SECTION MUST BE COMPLETED
DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES: (FROM CURRENT MONTH ACTUAL COLUMN)
Case No.
  
10-13850
    
10-13849
    
10-13854
    
10-13851
    
10-13852
    
10-13853
    
Total
        
Debtor Name
  
Palm Harbor Homes,
Inc.
    
Palm Harbor
Albemarle, LLC
    
Nationwide Homes,
Inc.
    
Palm Harbor Real
Estate, LLC
    
Palm Harbor
GenPar, LLC
    
Palm Harbor
Manufacturing, LP
    
Debtors
Consolidated
        
                                                 
TOTAL DISBURSEMENTS (Note 4)
   $ (8,843.16 )   $ (36.99 )   $ (1,222.25 )   $ -     $ -     $ (3,896.35 )   $ (13,998.75 )        
 
NOTES
1)
Generally all disbursements for all Debtors are made out of a Corporate Concentration Account.  Most locations have their own depository accounts with very limited disbursement authority.
2)
MOR-1 Disbursements based on General Ledger activity
3)
Includes smaller vendor categories such as utilities, customer deposit refunds, and rent.
4)
All disbursements are from Palm Harbor Homes, Inc. bank accounts; disbursements by legal entity are allocated pro rata based on P&L expenses:

Accrual Based Expenses (MOR-2)
                                                
Cost of Goods Sold
     6,930.48       38.31       835.58       -       -       4,459.32       12,263.69          
Operating Expenses
     3,821.09       8.72       720.03       -       -       518.74       5,068.58          
Other Income/Expenses
     10.38       0.25       6.57       -       -       1.96       19.16          
Reorganization Expenses
     540.70       -       -       -       -       -       540.70          
Pro-Rata Expenses
   $ 11,302.65     $ 47.28     $ 1,562.18     $ -     $ -     $ 4,980.02     $ 17,892.13          
Allocation of Centralized Disbursements
(PHI is spread to all debtors)
     63.17 %     0.26 %     8.73 %     0.00 %     0.00 %     27.83 %     100.00 %        
Total Disbursements
     (13,998.75 )     (13,998.75 )     (13,998.75 )     (13,998.75 )     (13,998.75 )     (13,998.75 )     (13,998.75 )        
DISBURSEMENTS FOR CALCULATING U.S. TRUSTEE QUARTERLY FEES
   $ (8,843.16 )   $ (36.99 )   $ (1,222.25 )   $ -     $ -     $ (3,896.35 )   $ (13,998.75 )        
 
 
FORM MOR-1 (04/07)
Page 1 of 1
 

In re Palm Harbor Homes, Inc., et. al.
Case No.
Debtors
10-13849 to 10-13854
 
Reporting Period: 11/30/2010 - 12/24/2010

SUPPORT SCHEDULE TO MOR-1 (CASH-END OF MONTH BY DEBTOR COMPANY AND BANK ACCOUNT)

(USD)
                    
Debtor Name
  
Case No.
  
Bank
  
Bank Account
    
CASH-END OF MONTH
  
Wells Fargo Retail Depository Accounts
  
Palm Harbor Homes Inc.
  
10-13850
  
Wells Fargo
     4945092286     $ (35,215 )
Palm Harbor Homes Inc.
  
10-13850
  
Wells Fargo
     4944449149     $ -  
Palm Harbor Homes Inc.
 
10-13850
  
Wells Fargo
     4945275121     $ -  
Palm Harbor Homes Inc.
  
10-13850
  
Wells Fargo
     4944449156     $ -  
Palm Harbor Homes Inc.
   10-13850
 
Wells Fargo
     4945275139     $ -  
Palm Harbor Homes Inc.
   10-13850
 
Wells Fargo
     4945275147     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4945275154     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4945275162     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4945275170     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4945275188     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4945275196     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4945275204     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4945275212     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4945275220     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4945275238     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4945275246     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4945275253     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4945275261     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4945275279     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4945275287     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4945275295     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4945275303     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4945275311     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4945275329     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4945275337     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4944449180     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4945275345     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4944449198     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4945275352     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4945275360     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4945275378     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4944449206     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4945275386     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4945275394     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4945275402     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4945275428     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4945275436     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4945205672     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4945275444     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4945275451     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4945275469     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4945275477     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4945275501     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4945275519     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4945275543     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4945275667     $ -  
Palm Harbor Homes Inc.
   10-13850  
Wells Fargo
     4944449230     $ -  

 
FORM MOR1-a
Page 1 of 2
 

In re Palm Harbor Homes, Inc., et. al.
Case No.
Debtors
10-13849 to 10-13854
 
Reporting Period: 11/30/2010 - 12/24/2010

SUPPORT SCHEDULE TO MOR-1 (CASH-END OF MONTH BY DEBTOR COMPANY AND BANK ACCOUNT)

(USD)
                    
Debtor Name
  
Case No.
  
Bank
  
Bank Account
    
CASH-END OF MONTH
  
Other Retail Depository Accounts
    
Palm Harbor Homes Inc.
     10-13850  
JPMorgan Chase
     645588328     $ 3,500  
Palm Harbor Homes Inc.
     10-13850  
Bank of America
     3750844681     $ 2,200  
Palm Harbor Homes Inc.
     10-13850  
Regions Bank
     4200108081     $ 4,050  
Palm Harbor Homes Inc.
     10-13850  
Wachovia
     2000038468544     $ 2,774,977  
Palm Harbor Homes Inc.
     10-13850  
Wachovia
     2000709873507     $ -  
Wells Fargo Manufacturing Accounts
  
Palm Harbor Homes Inc.
     10-13850  
Wells Fargo
     4030000087     $ (310,001 )
Palm Harbor Homes Inc.
     10-13850  
Wells Fargo
     4945275691     $ -  
Palm Harbor Homes Inc.
     10-13850  
Wells Fargo
     4944335330     $ -  
Palm Harbor Homes Inc.
     10-13850  
Wells Fargo
     4944335348     $ -  
Palm Harbor Homes Inc.
     10-13850  
Wells Fargo
     4944335793     $ -  
Palm Harbor Homes Inc.
     10-13850  
Wells Fargo
     4945275675     $ -  
Palm Harbor Homes Inc.
     10-13850  
Wells Fargo
     4945275683     $ -  
Palm Harbor Homes Inc.
     10-13850  
Wells Fargo
     4945275709     $ -  
Other Manufacturing Bank Accounts
  
Palm Harbor Homes Inc.
     10-13850  
Wachovia
     2000709948089     $ -  
Palm Harbor Homes Inc.
     10-13850  
Wachovia
     2000038468531     $ -  
Construction Bank Account
  
Palm Harbor Homes Inc.
     10-13850  
Wachovia
     2000029862298     $ -  
Nationwide Depository Accounts
  
Nationwide Custom Homes
     10-13854  
Wells Fargo
     4121812192     $ 12,070  
Nationwide Custom Homes
     10-13854  
Bank of America
     10637832     $ -  
Nationwide Custom Homes
     10-13854  
National Bank & Trust
     11510517     $ -  
Wells Fargo Disbursement and Operating Accounts
  
Palm Harbor Homes Inc.
     10-13850  
Wells Fargo
     4121768113     $ (631,579 )
Palm Harbor Homes Inc.
     10-13850  
Wells Fargo
     4121768121     $ (1,632,730 )
Palm Harbor Homes Inc.
     10-13850  
Wells Fargo
     4121768139     $ (253,722 )
Palm Harbor Homes Inc.
     10-13850  
Wells Fargo
     4121768147     $ (106,107 )
Palm Harbor Homes Inc.
     10-13850  
Wells Fargo
     4121768154     $ (318,446 )
Palm Harbor Homes Inc.
     10-13850  
Wells Fargo
     4121768162     $ (174,792 )
Palm Harbor Homes Inc.
     10-13850  
Wells Fargo
     4121768170     $ -  
Palm Harbor Homes Inc.
     10-13850  
Wells Fargo
     4122003841     $ (441,229 )
Palm Harbor Homes Inc.
     10-13850  
Wells Fargo
     4121768188     $ 8,415,473  
Palm Harbor Homes Inc.
     10-13850  
Wells Fargo
     4121807747     $ -  
Palm Harbor Homes Inc.
     10-13850  
Wells Fargo
     4121808364     $ -  
Palm Harbor Homes Inc.
     10-13850  
Wells Fargo
     4123103426     $ -  
Palm Harbor Homes Inc.
     10-13850  
Wells Fargo
     4121852982     $ 66,732  
Palm Harbor Homes Inc.
     10-13850  
Wells Fargo
     4121771539     $ 8,825  
Wells Fargo Trust Accounts
  
Palm Harbor Homes Inc.
     10-13850  
Wells Fargo
     4121169130     $ 213,034  
Palm Harbor Homes Inc.
     10-13850  
Wells Fargo
     4945275873     $ -  
Palm Harbor Homes Inc.
     10-13850  
Wells Fargo
     4945275881     $ -  
Palm Harbor Homes Inc.
     10-13850  
Wells Fargo
     4945275899     $ -  
Palm Harbor Homes Inc.
     10-13850  
Wells Fargo
     4945275907     $ -  
Palm Harbor Homes Inc.
     10-13850  
Wells Fargo
     4945275923     $ -  
Palm Harbor Homes Inc.
     10-13850  
Wells Fargo
     4121798268     $ -  
Palm Harbor Homes Inc.
     10-13850  
Wells Fargo
     4945275931     $ -  
Palm Harbor Homes Inc.
     10-13850  
Wells Fargo
     4945275949     $ -  
Palm Harbor Homes Inc.
     10-13850  
Wells Fargo
     4124916974     $ 11,500  
Petty cash
  
Nationwide Custom Homes
     10-13850  
N/A
     N/A     $ 3,000  
Palm Harbor Homes Inc.
     10-13850  
N/A
     N/A     $ 2,573  
Total
                     $ 7,614,113  

NOTES
1) Negative ending cash balances are a result of timing differences within the Company's cash management system.  These bank accounts are assumed to be funded from within the Company's centralized cash management system prior to disbursing funds to outside parties.

 
FORM MOR1-a
Page 2 of 2
 

In re Palm Harbor Homes, Inc., et. al.
Case No.
Debtors
10-13849 to 10-13854
 
Reporting Period: 11/30/2010 - 12/24/2010

SUPPORT SCHEDULE TO MOR-1 (CASH-END OF MONTH BY DEBTOR COMPANY AND BANK ACCOUNT)

I declare under penalty of perjury (28 U.S.C. Section 1746) that this ending cash balance is true and correct to the best of my knowledge and belief.

/s/ Brian Cejka
      
Signature of Authorized Individual
      
       
Brian E. Cejka
  
Chief Restructuring Officer
  
Printed Name of Authorized Individual
  
Title of Authorized Individaul
  
 
 
FORM MOR1-a
Page 4 of 18
 

In re Palm Harbor Homes, Inc., et. al.
Case No.
Debtors
10-13849 to 10-13854
 
Reporting Period: 11/30/2010 - 12/24/2010

SCHEDULE OF PROFESSIONAL FEES AND EXPENSES PAID (MOR-1b)
This schedule is to include all retained professional payments from case inception to current month.
(USD)
        
Amount
       
Check
  
Amount Paid
  
Year-To-Date
  
Payee
  
Period Covered
  
Approved
  
Payor
  
Number
  
Date
  
Fees
  
Expenses
  
Fees
  
Expenses
  
LOCKE LORD BISSELL & LIDDELL
  
11/30-12/24/10
   $ 0.00  
Palm Harbor Homes, Inc
  
##
  
N/A
   $ -   $ -   $ -   $ -  
POLSINELLI SHUGART PC
  
11/30-12/24/10
   $ 0.00  
Palm Harbor Homes, Inc
  
##
  
N/A
   $ -   $ -   $ -   $ -  
RAYMOND JAMES & ASSOC.,INC.
  
11/30-12/24/10
   $ 0.00  
Palm Harbor Homes, Inc
  
##
  
N/A
   $ -   $ -   $ -   $ -  
ALVAREZ AND MARSAL NORTH AMERICA LLC
  
11/30-12/24/10
   $ 0.00  
Palm Harbor Homes, Inc
  
##
  
N/A
   $ -   $ -   $ -   $ -  
BMC GROUP, INC
  
11/30-12/24/10
   $ 0.00  
Palm Harbor Homes, Inc
  
##
  
N/A
   $ -   $ -   $ -   $ -  
                                                 
                                                 
                                                 
                                                 
 
 
FORM MOR-1b
Page 1 of 1
 

In re Palm Harbor Homes, Inc., et. al.
Case No.
Debtors
10-13849 to 10-13854
 
Reporting Period: 11/30/2010 - 12/24/2010

STATEMENT OF OPERATIONS (MOR-2)
(Income Statement)

('000 USD)
                              
Case No.
  
10-13850
  
10-13849
  
10-13854
  
10-13851
  
10-13852
  
10-13853
      
    
Joint Admin Docket
                      
Total
  
Debtor Name
  
Palm Harbor Homes,
Inc.
  
Palm Harbor
Albemarle, LLC
  
Nationwide Homes,
Inc.
  
Palm Harbor Real
Estate, LLC
  
Palm Harbor GenPar,
LLC
  
Palm Harbor
Manufacturing, LP
  
Debtors Consolidated
  
                                           
REVENUES
                                          
Outside sales
   $ 6,742.83   $ -   $ 642.64   $ -   $ -   $ 5,445.26   $ 12,830.73  
Less discounts
     111.59     -     (26.00 )   -     -     (215.49 )   (129.90 )
  Total sales and revenues
     6,854.42     -     616.64     -     -     5,229.77     12,700.83  
                                             
COST OF GOODS SOLD
                                            
Material costs
   $ 1,352.58   $ -   $ 356.39   $ -   $ -   $ 3,062.52   $ 4,771.49  
Labor costs
     410.69     -     153.14     -     -     765.12     1,328.95  
Transportation
     (1.68 )   -     74.47     -     -     (73.79 )   (1.00 )
Service expenses
     134.56     16.94     38.38     -     -     241.26     431.14  
Insurance
     1,363.15     0.84     31.27     -     -     87.21     1,482.47  
Overhead/other
     278.47     20.53     103.86     -     -     377.00     779.87  
Retail cost of homes sold
     7,101.56     -     78.07     -     -     -     7,179.63  
Eliminations
     (3,708.85 )   -     -     -     -     -     (3,708.85 )
  Total cost of goods sold
     6,930.48     38.31     835.58     -     -     4,459.32     12,263.70  
                                             
Gross Margin
     (76.05 )   (38.31 )   (218.95 )   -     -     770.44     437.13  
                                             
OPERATING EXPENSES
                                            
Wages and salaries
   $ 1,802.54   $ -   $ 197.00   $ -   $ -   $ 218.82   $ 2,218.37  
Benefit costs
     690.42     0.79     58.00     -     -     52.66     801.87  
General liability and workers comp costs
     187.25     (1.07 )   26.93     -     -     25.40     238.51  
Rent
     213.21     -     11.06     -     -     -     224.27  
Utilities
     97.07     0.25     26.01     -     -     25.16     148.49  
Telephone
     63.10     1.40     9.93     -     -     12.49     86.92  
Travel & entertainment
     53.97     -     15.45     -     -     7.89     77.31  
Legal and professional
     170.20     0.07     3.45     -     -     4.74     178.47  
Property insurance
     16.59     2.98     9.12     -     -     9.76     38.45  
Property taxes
     106.33     2.00     6.79     -     -     38.50     153.62  
Equipment rental
     31.19     2.05     11.57     -     -     21.46     66.28  
Maintenance costs
     23.15     -     2.22     -     -     1.44     26.81  
Advertising
     69.64     -     30.61     -     -     4.18     104.43  
Debt issue costs
     27.54     -     -     -     -     -     27.54  
Bank service charges
     40.34     0.20     0.36     -     -     0.60     41.50  
Depreciation
     144.78     -     174.43     -     -     87.08     406.29  
(Gain)/loss from sale of fixed assets
     -     -     128.27     -     -     -     128.27  
Other (Note 1)
     83.76     0.04     8.82     -     -     8.54     101.16  
  Total operating expenses
   $ 3,821.09   $ 8.72   $ 720.03   $ -   $ -   $ 518.74   $ 5,068.57  
                                             
Net profit (loss) before other income and expense
   $ (3,897.14 ) $ (47.03 ) $ (938.98 ) $ -   $ -   $ 251.71   $ (4,631.44 )
                                             
OTHER INCOME/EXPENSES
                                            
Other income (Note 1)
     (10.38 )   (0.25 )   (6.57 )   -     -     (1.96 )   (19.16 )
Interest, net
     128.68     -     0.57     -     -     -     129.25  
Net profit (loss) before reorganization items
   $ (4,015.44 ) $ (46.78 ) $ (932.98 ) $ -   $ -   $ 253.66   $ (4,741.54 )
                                             
REORGANIZATION ITEMS
                                            
Professional fees
   $ 200.00   $ -   $ -   $ -   $ -   $ -   $ 200.00  
U.S. Trustee quarterly fees
     -     -     -     -     -     -     -  
Other reorganization expenses
     340.70     -     -     -     -     -     340.70  
Total reorganization expenses
   $ 540.70   $ -   $ -   $ -   $ -   $ -   $ 540.70  
                                             
Income Taxes
     16.59     -     (16.20 )   -     -     -     0.38  
Net income (loss)
   $ (4,572.73 ) $ (46.78 ) $ (916.77 ) $ -   $ -   $ 253.66   $ (5,282.62 )
                                             
Memo:
                                            
Interest, net
   $ 128.68   $ -   $ 0.57   $ -   $ -   $ -   $ 129.25  
Income taxes
     16.59     -     (16.20 )   -     -     -     0.38  
Depreciation
     144.78     -     174.43     -     -     87.08     406.29  
EBITDA
   $ (4,282.68 ) $ (46.78 ) $ (757.97 ) $ -   $ -   $ 340.74   $ (4,746.70 )

NOTES
1) Supporting Schedules for Other Operating Expenses and Other income provided on MOR-2 Continuation Sheet.
 
 
FORM MOR-2
Page 1 of 1
 

In re Palm Harbor Homes, Inc., et. al.
Case No.
Debtors
10-13849 to 10-13853
 
Reporting Period: 11/30/2010 - 12/24/2010

STATEMENT OF OPERATIONS (MOR-2 continuation sheet)
('000 USD)
   
10-13850
  
10-13849
  
10-13854
  
10-13851
  
10-13852
  
10-13853
      
    
Joint Admin Docket
                      
Total
  
Debtor Name
  
Palm Harbor Homes,
Inc.
  
Palm Harbor
Albemarle, LLC
  
Nationwide Homes,
Inc.
  
Palm Harbor Real
Estate, LLC
  
Palm Harbor GenPar,
LLC
  
Palm Harbor
Manufacturing, LP
  
Debtors Consolidated
  
                                           
BREAKDOWN OF "OTHER" CATEGORY
                                          
Other operating expenses:
                                          
Postage
   $ 17.23   $ 0.04   $ 1.51   $ -   $ -   $ 2.12   $ 20.90  
Office supllies
     11.75     -     2.94     -     -     0.69     15.37  
Licensing costs
     15.74     -     1.37     -     -     0.85     17.95  
Relocation
     7.50     -     0.71     -     -     -     8.21  
Security costs
     4.61     -     0.11     -     -     4.89     9.60  
SEC costs
     10.65     -     -     -     -     -     10.65  
Misc taxes
     5.88     -     -     -     -     -     5.88  
Misc SGA
     10.40     -     2.19     -     -     -     12.59  
Total other operating
   $ 83.76   $ 0.04   $ 8.82   $ -   $ -   $ 8.54   $ 101.16  
                                             
Other income:
                                            
Other income
   $ (1.93 ) $ (0.25 ) $ (6.57 ) $ -   $ -   $ (1.96 ) $ (10.70 )
Gain on sales/leaseback transaction
     (8.45 )   -     -     -     -     -     (8.45 )
Total other income
   $ (10.38 ) $ (0.25 ) $ (6.57 ) $ -   $ -   $ (1.96 ) $ (19.16 )
 
 
FORM MOR-2 Continuation Sheet
Page 1 of 1
 
 
In re Palm Harbor Homes, Inc., et. al.
Debtors
Case No.
10-13849 to 10-13854
Reporting Period: 11/30/2010 - 12/24/2010
 
BALANCE SHEET (MOR-3)

('000 USD)
                                          
Case No.
  
10-13850
    
10-13849
    
10-13854
    
10-13851
    
10-13852
    
10-13853
        
   
Joint Admin Docket
                                  
Total
  
Debtor Name
  
Palm Harbor Homes,
Inc.
    
Palm Harbor
Albemarle, LLC
    
Nationwide Homes,
Inc.
    
Palm Harbor Real
Estate, LLC
    
Palm Harbor GenPar,
LLC
    
Palm Harbor
Manufacturing, LP
    
Debtors Consolidated
  
Period Ending
  
12/24/10
    
12/24/10
    
12/24/10
    
12/24/10
    
12/24/10
    
12/24/10
    
12/24/10
  
                                           
ASSETS
                                          
Cash
   $ 7,599.04     $ -     $ 15.07     $ -     $ -     $ -     $ 7,614.11  
Restricted cash
     10,892.49       -       -       -       -       -       10,892.49  
Trade accounts receivable
     5,633.52       -       266.23       -       -       5,967.06       11,866.81  
Consumer loans receivable
     1,976.48                                               1,976.48  
Inventories
     45,739.43       -       3,909.11       -       -       3,985.48       53,634.01  
Intercompany receivables (payables) - debtor companies
     (77,027.64 )     -       8,125.51       -       (8.73 )     68,910.86       -  
Subordinated debentures CPM to PHH
     2,447.51       -       -       -       -       -       2,447.51  
Investment in CountryPlace Acceptance Corp
     25,000.00       -       -       -       -       -       25,000.00  
Investment in Nationwide Homes, Inc.
     7,835.65       -       -       -       -       -       7,835.65  
Prepaid expenses
     653.93       -       18.46       -       -       -       672.40  
Deferred tax asset
     (296.99 )     -       -       -       -       -       (296.99 )
Assets held for sale
     6,078.89       -       (290.93 )     -       -       -       5,787.96  
Other assets (Note 1)
     1,260.99       1.90       30.92       -       -       56.42       1,350.23  
                                                         
PROPERTY AND EQUIPMENT
                                                        
Land & improvements
   $ 6,138.13     $ 766.31     $ 1,038.67     $ -     $ -     $ 3,967.12     $ 11,910.22  
Buildings & improvements
     15,095.51       1,990.10       9,569.34       -       -       10,290.55       36,945.50  
Machinery & equipment
     12,305.72       1,881.94       4,199.52       -       -       10,158.19       28,545.38  
Office furn, fixt and computers
     7,169.65       145.07       698.46       -       -       553.57       8,566.75  
Transportation equipment
     1,308.23       144.95       1,285.97       -       -       3,747.11       6,486.27  
Construction in process
     131.60       -       15.29       -       -       (1.00 )     145.89  
Accumulated depreciation
     (32,099.84 )     (3,615.91 )     (10,847.08 )     -       -       (22,571.33 )     (69,134.16 )
                                                         
TOTAL PROPERTY AND EQUIPMENT
   $ 10,048.99     $ 1,312.47     $ 5,960.17     $ -     $ -     $ 6,144.21     $ 23,465.85  
                                                         
Goodwill
     1,706.53       -       -       -       -       -       1,706.53  
TOTAL ASSETS
   $ 49,548.82     $ 1,314.37     $ 18,034.54     $ -     $ (8.73 )   $ 85,064.04     $ 153,953.04  

NOTES
1)
Supporting Schedules for Other Assets, Accrued Taxes and Other Post-Petition Liabilities provided on MOR- 3 Continuation Sheet.
 
FORM MOR-3
Page 1 of 2
 
In re Palm Harbor Homes, Inc., et. al.
Debtors
Case No.
10-13849 to 10-13854
Reporting Period: 11/30/2010 - 12/24/2010
 
('000 USD)
                                          
Case No.
  
10-13850
    
10-13849
    
10-13854
    
10-13851
    
10-13852
    
10-13853
        
   
Joint Admin Docket
                                  
Total
  
Debtor Name
  
Palm Harbor Homes,
Inc.
    
Palm Harbor
Albemarle, LLC
    
Nationwide Homes,
Inc.
    
Palm Harbor Real
Estate, LLC
    
Palm Harbor GenPar,
LLC
    
Palm Harbor
Manufacturing, LP
    
Debtors Consolidated
  
Period Ending
  
12/24/10
    
12/24/10
    
12/24/10
    
12/24/10
    
12/24/10
    
12/24/10
    
12/24/10
  
LIABILITIES AND OWNER EQUITY
                                          
LIABILITIES NOT SUBJECT TO COMPROMISE (Postpetition)
                                          
Accounts payable (Note 2)
   $ 954.77     $ 2.42     $ 42.01     $ -     $ -     $ 949.97     $ 1,949.18  
Accounts payable - not invoiced
     415.22       2.20       420.70       -       -       148.56       986.67  
DIP financing
     40,429.75       -       -       -       -       -       40,429.75  
                                                         
TOTAL POSTPETITION LIABILITIES (Note 3)
   $ 41,799.75     $ 4.62     $ 462.70     $ -     $ -     $ 1,098.53     $ 43,365.60  
                                                         
LIABILITIES  SUBJECT TO COMPROMISE (Pre-Petition)
                                                        
Pre-petition accounts payable
   $ 9,281.87     $ 31.30     $ 3,134.88     $ -     $ -     $ 7,442.65     $ 19,890.70  
Accrued wages and benefits
     1,775.81       6.80       453.11       -       -       1,154.64       3,390.35  
Accrued expenses on homes sold
     2,686.01       -       -       -       -       -       2,686.01  
Customer deposits
     4,746.75       -       720.62       -       -       1.50       5,468.87  
Accrued legal and professional fees
     1,725.39       -       82.97       -       -       5.40       1,813.76  
Accrued warranty
     (1,199.09 )     651.05       431.80       -       -       2,070.48       1,954.24  
Accrued insurance
     4,763.70       32.23       (599.24 )     -       -       -       4,196.69  
Accrued sales incentive
     1,637.90       95.91       60.83       -       -       2,315.64       4,110.28  
Accrued interest
     813.47               18.10       -       -       -       831.57  
Accrued taxes (Note 1)
     173.29       (7.32 )     77.02       -       -       58.72       301.71  
Gain on sale-leaseback transaction
     852.37       -       -       -       -       -       852.37  
Deferred revenue
     753.11       -       -       -       -       -       753.11  
Other liabilities (Note 1)
     484.39       22.16       241.74       -       -       63.38       811.67  
Unsecured debt - convertible senior notes
     51,917.94       -       -       -       -       -       51,917.94  
Intercompany payables - nondebtor companies
     65,068.97       -       -       -       -       46.17       65,115.14  
Debt discount - Virgo debt
     (1,059.46 )     -       -       -       -       -       (1,059.46 )
TOTAL PRE-PETITION LIABILITIES (Note 3)
   $ 144,422.41     $ 832.13     $ 4,621.84     $ -     $ -     $ 13,158.57     $ 163,034.95  
TOTAL LIABILITIES
   $ 186,222.16     $ 836.75     $ 5,084.54     $ -     $ -     $ 14,257.10     $ 206,400.55  
                                                         
STOCKHOLDER'S EQUITY
                                                        
Common stock
   $ 238.08     $ -     $ -     $ -     $ -     $ -     $ 238.08  
Additional paid in capital
     70,219.80       -       -       -       -       -       70,219.80  
Treasury stock
     (13,979.81 )     -       -       -       -       -       (13,979.81 )
Retained earnings - Pre-Petition
     (188,582.79 )     524.40       13,866.77       -       (8.73 )     70,553.27       (103,647.08 )
Retained earnings - Postpetition
     (4,572.73 )     (46.78 )     (916.77 )     -       -       253.66       (5,282.62 )
Accumulated other comprehensive income
     4.11       -       -       -       -       -       4.11  
NET STOCKHOLDER'S EQUITY
   $ (136,673.34 )   $ 477.62     $ 12,950.00     $ -     $ (8.73 )   $ 70,806.93     $ (52,447.52 )
                                                         
TOTAL LIABILITIES & STOCKHOLDER'S EQUITY
   $ 49,548.82     $ 1,314.37     $ 18,034.54     $ -     $ (8.73 )   $ 85,064.04     $ 153,953.04  

NOTES
1)
Supporting Schedules for Other Assets, Accrued Taxes and Other Post-Petition Liabilities provided on MOR-3 Continuation Sheet.
2)
The total post-petition A/P balance has been determined but the split among the entities is not certain. For purposes of this MOR, post-petition A/P was split based on the actual pro-rata split of pre-petition A/P.
3)
The Company is in the process of segregating its accrued liabilities between pre and post petition periods and will include them in future operating reports once completed.
 
FORM MOR-3
Page 2 of 2
In re Palm Harbor Homes, Inc., et. al.
Debtors
Case No.
10-13849 to 10-13854
Reporting Period: 11/30/2010 - 12/24/2010

BALANCE SHEET (MOR-3 continuation sheet)
  
BALANCE SHEET - continuation sheet
  
('000 USD)
                                          
Case No.
  
10-13850
    
10-13849
    
10-13854
    
10-13851
    
10-13852
    
10-13853
        
   
Joint Admin Docket
                                  
Total
  
Debtor Name
  
Palm Harbor Homes,
Inc.
    
Palm Harbor
Albemarle, LLC
    
Nationwide Homes,
Inc.
    
Palm Harbor Real
Estate, LLC
    
Palm Harbor GenPar,
LLC
    
Palm Harbor
Manufacturing, LP
    
Debtors Consolidated
  
Period Ending
  
12/24/10
    
12/24/10
    
12/24/10
    
12/24/10
    
12/24/10
    
12/24/10
    
12/24/10
  
                                           
BREAKDOWN OF "OTHER" CATEGORY
                                          
Other assets:
                                          
Notes receivable
   $ 532.45     $ -     $ -     $ -     $ -     $ -     $ 532.45  
Vendor rebates
     305.88       -       -       -       -       -       305.88  
Deposits
     300.69       -       7.43       -       -       -       308.12  
Debt issue costs - senior notes
     138.31       -       -       -       -       -       138.31  
Travel advances
     25.42       1.90       23.49       -       -       58.74       109.56  
Other
     (41.76 )     -       -       -       -       (2.32 )     (44.08 )
                                                         
Total other assets
   $ 1,260.99     $ 1.90     $ 30.92     $ -     $ -     $ 56.42     $ 1,350.23  
FORM MOR-3 Continuation Sheet
Page 1 of 3
 
In re Palm Harbor Homes, Inc., et. al.
Debtors
Case No.
10-13849 to 10-13854
Reporting Period: 11/30/2010 - 12/24/2010
 
BALANCE SHEET (MOR-3 continuation sheet)
  
BALANCE SHEET - continuation sheet
  
('000 USD)
                                          
Case No.
  
10-13850
    
10-13849
    
10-13854
    
10-13851
    
10-13852
    
10-13853
        
   
Joint Admin Docket
                                  
Total
  
Debtor Name
  
Palm Harbor Homes,
Inc.
    
Palm Harbor
Albemarle, LLC
    
Nationwide Homes,
Inc.
    
Palm Harbor Real
Estate, LLC
    
Palm Harbor GenPar,
LLC
    
Palm Harbor
Manufacturing, LP
    
Debtors Consolidated
  
Period Ending
  
12/24/10
    
12/24/10
    
12/24/10
    
12/24/10
    
12/24/10
    
12/24/10
    
12/24/10
  
Taxes payable:
                                          
Federal:
                                          
Federal income taxes
   $ (675.82 )   $ -     $ -     $ -     $ -     $ -     $ (675.82 )
                                                         
Total federal taxes
   $ (675.82 )   $ -     $ -     $ -     $ -     $ -     $ (675.82 )
                                                         
State and local:
                                                        
State income taxes
     (32.71 )     -       -       -       -       -       (32.71 )
Property taxes
     613.54       (3.68 )     45.42       -       -       (4.76 )     650.52  
Sales & use tax
     268.28       (3.64 )     31.60       -       -       63.48       359.73  
                                                         
Total state and local taxes
   $ 849.11     $ (7.32 )   $ 77.02     $ -     $ -     $ 58.72     $ 977.53  
                                                         
                                                         
Total taxes
   $ 173.29     $ (7.32 )   $ 77.02     $ -     $ -     $ 58.72     $ 301.71  
FORM MOR-3 Continuation Sheet
Page 2 of 3
 
In re Palm Harbor Homes, Inc., et. al.
Debtors
Case No.
10-13849 to 10-13854
Reporting Period: 11/30/2010 - 12/24/2010
 
BALANCE SHEET (MOR-3 continuation sheet)
  
BALANCE SHEET - continuation sheet
  
('000 USD)
                                          
Case No.
  
10-13850
    
10-13849
    
10-13854
    
10-13851
    
10-13852
    
10-13853
        
   
Joint Admin Docket
                                  
Total
  
Debtor Name
  
Palm Harbor Homes,
Inc.
    
Palm Harbor
Albemarle, LLC
    
Nationwide Homes,
Inc.
    
Palm Harbor Real
Estate, LLC
    
Palm Harbor GenPar,
LLC
    
Palm Harbor
Manufacturing, LP
    
Debtors Consolidated
  
Period Ending
  
12/24/10
    
12/24/10
    
12/24/10
    
12/24/10
    
12/24/10
    
12/24/10
    
12/24/10
  
Other prepetition liabilities:
                                          
Advertising
   $ 56.31     $ -     $ 16.64     $ -     $ -     $ -     $ 72.95  
Show expense
     42.13       -       34.39       -       -       11.18       87.71  
Literature
     51.39       -       3.00       -       -       27.52       81.92  
Utilities
     23.69       -       109.79       -       -       -       133.47  
Other
     310.86       22.16       77.93       -       -       24.67       435.62  
                                                         
Total other postpetition liabilities
   $ 484.39     $ 22.16     $ 241.74     $ -     $ -     $ 63.38     $ 811.67  
 
FORM MOR-3 Continuation Sheet
Page 3 of 3
 
In re Palm Harbor Homes, Inc., et. al.
Case No.
Debtors
10-13849 to 10-13854
 
Reporting Period: 11/30/2010 - 12/24/2010

SUMMARY OF UNPAID POSTPETITION DEBTS (MOR-4)

('000 USD)
Case No.
10-13850
  
10-13849
  
10-13854
  
10-13851
  
10-13852
  
10-13853
          
  
Joint Admin Docket
                      
Elimination
  
Total
  
Debtor Name
Palm Harbor Homes, 
Inc.
  
Palm Harbor
Albemarle, LLC
  
Nationwide Homes,
Inc.
  
Palm Harbor Real 
Estate, LLC
  
Palm Harbor GenPar,
LLC
  
Palm Harbor
Manufacturing, LP
  
Debtors Consolidated
  
Debtors Consolidated
  
Current Month
12/24/10
  
12/24/10
  
12/24/10
  
12/24/10
  
12/24/10
  
12/24/10
  
12/24/10
  
12/24/10
  
Accounts Payable (Note 1)
 $ 954.77   $ 2.42   $ 42.01   $ -   $  -   $ 949.97   $ -   $ 1,949.18  
Accounts payable—not invoiced
 $ 415.22   $ 2.20   $ 420.70   $ -   $ -   $ 148.56   $ -   $ 986.67  
DIP financing
 $ 40,429.75   $ -   $ -   $ -   $ -   $ -   $ -   $ 40,429.75  
Total Postpetition Debts
 $ 41,799.75   $ 4.62   $ 462.70   $ -   $ -   $ 1,098.53   $ -   $ 43,365.60  

NOTES      
1) Aged Listing of Accounts Payable provided on Support Schedule to MOR-4.

 
FORM MOR-4
Page 1 of 1
 


In re Palm Harbor Homes, Inc., et. al.
Case No.
Debtors
10-13849 to 10-13854
 
Reporting Period: 11/30/2010 - 12/24/2010

SUPPORT SCHEDULE TO MOR-4 (AGED LISTING OF POST-PETITION ACCOUNTS PAYABLE)

('000 USD)
Case No.
  
10-13850
  
10-13849
  
10-13854
  
10-13851
  
10-13852
  
10-13853
          
    
Joint Admin Docket
                              
Debtor Name
  
Palm Harbor Homes, 
Inc.
  
Palm Harbor
Albemarle, LLC
  
Nationwide Homes, 
Inc.
  
Palm Harbor Real 
Estate, LLC
  
Palm Harbor GenPar, 
LLC
  
Palm Harbor 
Manufacturing, LP
  
Debtors Eliminations
  
Debtors Consolidated
  
POST-PETITION ACCOUNTS PAYABLE AGING SUMMARY
                                  
                                   
0-30 Days
   $ 954.77   $ 2.42   $ 42.01   $ -   $ -   $ 949.97   $ -   $ 1,949.18  
                                                   
31-60 Days
     -     -     -     -     -     -     -     -  
                                                   
61-90 Days
     -     -     -     -     -     -     -     -  
                                                   
Over 90 Days
     -     -     -     -     -     -     -     -  
                                                   
Total Post-petition Trade A/P per the Aging Report
     954.77     2.42     42.01     -     -     949.97     -     1,949.18  
                                                   
Reconciling Items:
                                                  
                                                   
Other
     -     -     -     -     -     -     -     -  
      954.77     2.42     42.01     -     -     949.97     -     1,949.18  
                                                   
Total Post-petition Trade A/P- per Balance Sheet
   $ 954.77   $ 2.42   $ 42.01   $ -   $ -   $ 949.97   $ -   $ 1,949.18  

 
FORM MOR-4 Support
Page 1 of 1
 

In re Palm Harbor Homes, Inc. et al
Case No
Debtors
10-13849 to 10-13854
 
Reporting Period:  11/30/2010 - 12/24/2010

      
Intercompany
    
Intercompany
    
Contribution to/
  
       
Balance as of
    
Balance as of
    
(Borrowings From)
  
Legal Entity
Debtor Status
  
12/24/10
    
11/29/10
    
Intercompany pool
  
                     
Palm Harbor Homes, Inc.
Debtor
     (142,096,615 )     (145,901,925 )     3,805,310  
Palm Harbor Manufacturing, L.P.
Debtor
     68,864,698       71,241,210       (2,376,512 )
Palm Harbor GenPar, LLC
Debtor
     (8,727 )     (8,727 )     -  
Nationwide, Inc.
Debtor
     8,125,505       9,429,822       (1,304,317 )
Standard Casualty Company
NonDebtor
     66,831,577       66,446,121       385,456  
CountryPlace Mortgage, Ltd.
NonDebtor
     (18,537,558 )     (18,177,985 )     (359,574 )
CountryPlace Acceptance LP, LLC
NonDebtor
     (91,882 )     (81,974 )     (9,908 )
CountryPlace Acceptance Corporation
NonDebtor
     16,907,531       16,907,531       -  
Due To/ (From) Accounts Payable
NonDebtor
     5,471       145,927       (140,456 )
                           
Combined Intercompany Balance
     $ 0     $ 0     $ -  

 
FORM MOR-4 Intercompany
Page 1 of 1
 

In re Palm Harbor Homes, Inc., et al.
Case No
Debtors
10-13849 to 10-13854
 
Reporting Period:  11/30/2010 - 12/24/2010

MOR-4 (Status of Postpetition Taxes)

The Debtors continue to pay their postpetition tax obligations as they become due and do not currently have any past due balances as of December 24, 2010.

I declare under penalty of perjury (28 U.S.C. Section 1746) that this information is true and correct to the best of my knowledge and belief.

/s/ Brian Cejka
  
Signature of Authorized Individual
  

Brian E. Cejka
  
Chief Restructuring Officer
Printed Name of Authorized Individual
  
Title of Authorized Individaul

 
MOR-4 Taxes
Page 16 of 18
 

In re Palm Harbor Homes, Inc., et. al.
Case No.
Debtors
10-13849 to 10-13854
 
Reporting Period: 11/30/2010 - 12/24/2010

ACCOUNTS RECEIVABLE RECONCILIATION AND AGING (MOR-5)

('000 USD)
Case No.
  
10-13850
  
10-13849
  
10-13854
  
10-13851
  
10-13852
  
10-13853
              
    
Joint Admin Docket
                                  
Debtor Name
  
Palm Harbor Homes, 
Inc.
  
Palm Harbor 
Albemarle, LLC
  
Nationwide Homes,
Inc.
  
Palm Harbor Real 
Estate, LLC
  
Palm Harbor GenPar, 
LLC
  
Palm Harbor 
Manufacturing, LP
    
Debtors Eliminations
    
Debtors Consolidated
  
                                       
Trade Accounts Receivable Aging (Note 1)
                                      
0 - 30 days old
   $ 6,068.48   $ -   $ 251.48   $ -   $ -   $ 5,432.27     $ -     $ 11,752.23  
31 - 60 days old
   $ 1,899.37   $ -   $ 21.17   $ -   $ -   $ 454.85     $ -     $ 2,375.40  
61 - 90 days old
   $ 339.48   $ -   $ 4.89   $ -   $ -   $ 99.53     $ -     $ 443.89  
91+ days old
   $ 1,233.72   $ -   $ 4.01   $ -   $ -   $ 0.05     $ -     $ 1,237.79  
Total Trade A/R per the Aging Report
   $ 9,541.05   $ -   $ 281.55   $ -   $ -   $ 5,986.71     $ -     $ 15,809.31  
                                                       
Reconciling Items:
                                                      
                                                       
Other Receivables/Eliminations
   $ 301.91   $ -   $ -   $ -   $ -   $ -     $ (3,331.36 )   $ (3,029.45 )
Adjusted Trade A/R Aging Balance - 1/2/10
   $ 9,842.95   $ -   $ 281.55   $ -   $ -   $ 5,986.71     $ (3,331.36 )   $ 12,779.85  
Allowance for doubtful accounts
   $ (878.08 ) $ -   $ (15.32 ) $ -   $ -   $ (19.64 )   $ -     $ (913.04 )
Total Trade A/R-Net on balance sheet
   $ 8,964.87   $ -   $ 266.23   $ -   $ -   $ 5,967.06     $ (3,331.36 )   $ 11,866.81  

NOTES
1)  The Trade Accounts Receivable Aging for each respective legal entity includes certain intradebtor balances that must be eliminated for financial reporting purposes.  As such, only the Debtors' consolidated column herein agrees to MOR-3.

 
FORM MOR-5
Page 1 of 1
 

In re Palm Harbor Homes, Inc., et. al.
Case No.
Debtors
10-13849 to 10-13854
 
Reporting Period:  11/30/2010 - 12/24/2010

DEBTOR QUESTIONNAIRE (MOR-5)
    
     
Must be completed each month
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 account(s).  If an investment account has been opened
    
     provide the required documentation pursuant to the Delaware Local Rule 4001-3.
  
X
FORM MOR-5 Questionnaire
Page 1 of 1