10000018587

THE UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF DELAWARE

In re: Chapter 11
PERKINS & MARIE CALLENDER'S INC., Case No. 11-11795 (KG)
et aI.,
Debtors.
(Jointly Administered)
Objection Deadline: November 1, 2011 at 4:00 p.m. (ET)
Hearing Date: November 22, 2011 at 4:00 p.m. (ET)
NOTICE OF FIRST INTERIM APPLICATION FOR INTERIM ALLOWANCE
OF COMPENSATION AND REIMBURSEMENT OF EXPENSES OF
FTI CONSULTING, INC., FINANCIAL ADVISOR TO THE
OFFICIAL COMMITTEE OF UNSECURED CREDITORS FOR THE
PERIOD FROM JUNE 28, 2011 THROUGH AUGUST 31, 2011
Name of Applicant: FTI Consulting, Inc.
Authorized to provide professional
services to: Official Committee of Unsecured Creditors
Date of Retention: August 8, 2011 nunc pro tunc to June 28,2011
Period for which compensation
and reimbursement are sought: June 28,2011 through August 31, 2011
Amount of compensation sought as
actual, reasonable, and necessary: $260,000.00
Amount of expense reimbursement sought
as actual, reasonable, and necessary: $5,348.50
This is an: __ monthly ~ i n t e r i m _ final application.
1
Summary of the fee applications for the compensation period:
Monthly Fee Applications Requested
Monthly Fee
Application CNO Total Total
Period, Date filed Filing Date, Fees Expenses
& Docket No. Docket No. Requested Requested
6/28111-07/31/11
9116/2011
8/25/2011
$137,500.00(1)
$4,244.49
Dkt. #842
Dkt. #970
8/1/11-8/31/11
9/16/11 N/A
$122,500.00(2)
$1,104.01
Dkt. #969
Totals $260,000.00 $5,348.50
(I) Includes pro-ration of June monthly fee (3 days or $12,500.00) plus $125,000.00 for July.
(2) Includes pro-ration of monthly fee (3 days at $100,000 and 27 days at $125,000).
Interim Fee Applications:
N/A 6/28/11-8/31/11 $265,348.50
Approved
Fees Expenses
(80%) (100%)
$110,000.00 $4,244.49
$0.00 $0.00
$110,000.00 $4,244.49
$0.00
Amount Total
of Amount
Holdback Due
$27,500.00 $141,744.49
$24,500.00 $123,604.01
$52,000.00 $265,348.50
$265,348.50
PLEASE TAKE NOTICE that on July 8,2011 the Court entered an Order Pursuant to
Sections 330 and 331 of the Bankruptcy Code and Bankruptcy Rule 2016 Implementing Certain
Procedures for the Interim Compensation and Reimbursement of Professionals (Docket No. 156)
(the "Interim Compensation Order").
PLEASE TAKE FURTHER NOTICE that objections, if any, to this First Interim Fee
Application must be filed with the Court and served on the Applicant at the address set forth
below and the Notice Parties so as to be received by or before November 1,2011 at 4:00 p.m.
If no timely objections are filed to the First Interim Fee Application, the Court, in accordance
with the terms of the Interim Compensation Order, may enter and order granting the First Interim
Fee Application without a hearing
2
Exeql.1tedon: October 17,2011

StevenSnnrns
Tfuee\Tir}1es Square
New York, NY 10036
Telephone: 212.841.9368

.. Fimmcial Advisors to the Official
Committee of Unsecured Creditors of
Perkins & Marie Callender's, et a1.
EXHIBIT A
PERKINS & MARIE CALLENDER'S INC.
FTI CONSULTING, INC.
SUMMARY OF HOURS BY PROFESSIONAL
FOR THE PERIOD JUNE 28, 2011 THROUGH AUGUST 31, 2011
Professional Position Hours
Simms, Steven Senior Managing Director 79.8
Laber, Mark Managing Director 183.0
Ghi, Katherine Senior Consultant 109.5
Hamilton, Christopher Senior Consultant 63.4
O'Loughlin, Morgan Senior Consultant 62.5
Goad, David Consultant 22.1
Hellmund-Mora, Marili Associate 18.5
Linda Administrative 0.2
Total 539.0
EXHIBITB
SUMMARY OF HOURS BY PROJECT CODE
TASK
CODE DESCRIPTION HOURS
Current Operating Results & Events 79.1
2 Cash & Liquidity Analysis 16.1
3 Financing Matters (DIP, Exit, Other) 10.0
5 Real Estate Issues 10.0
7 Analysis of Business Plan 122.2
8 Valuation and Related Matters 29.0
12 Analysis of SOFAs & SOALs 2.5
13 Analysis of Other Miscellaneous Motions 5.9
14 Analysis ofClaimslLiabilities Subject to Compromise 35.3
16 paR & DS - Analysis, Negotiation and Formulation 28.0
19 Case Management 13.5
20 General Meeting with Debtor & Debtors' Professionals 35.7
21 General Meetings with Committee & Committee Counsel 61.1
22 Meetings with Other Parties 9.6
23 Firm Retention 14.7
24 Preparation of Fee Application 6.5
25 Travel Time 7.9
30 Review Store Portfolio 50.1
- ~ - ~ - - - - - ~
Total 539.0
EXHmITC
DESCRIPTION OF HOURS BY CODE
FOR THE PERIOD JUNE 28, 2011 THROUGH AUGUST 31,2011
CODE DATE PROFESSIONAL HOURS DESCRIPTION OF HOURS
6/29/2011 Simms, Steven 1.1 Review financial infonnation from Company.
6/30/2011 Laber, Mark 0.6 Review recent financial results.
6/30/2011 Simms, Steven 0.4 Review financial infonnation from company.
7/1/2011 Laber, Mark 1.5 Review 2010 perfonnance package.
7/5/2011 Laber, Mark 0.7 Review P5 perfonnance.
71712011 Laber, Mark 1.0 Review and discuss financial perfonnance.
7/11/2011 Simms, Steven 1.1 Review financial infonnation for management meeting.
7/12/2011 Laber, Mark 1.0 Review financial infonnation received to-date.
7/12/2011 O'Loughlin, Morgan 3.5 Prepare Flash Report.
7/13/2011 Laber, Mark 0.4 Review and discuss draft flash report.
7/13/2011 O'Loughlin, Morgan 3.0 Prepare Flash Report summarizing cash flow and operating perfonnance.
7/14/2011 O'Loughlin, Morgan 4.5 Update Flash Report.
7/15/2011 O'Lough1in, Morgan 0.5 Update summary of cash flow forecast.
7/18/2011 Laber, Mark 1.0 Review financial infonnation provided by Debtor.
7/19/2011 Laber, Mark
Participate in discussion re: Perkins historical infonnation and prepare for
0.3 .
Committee meetmg.
CODE
EXHIBITC
DATE PROFESSIONAL
7120/2011 Laber, Mark
712112011 Ghi, Katherine
7/2112011 Ghi, Katherine
712212011 Laber, Mark
7/24/2011 Ghi, Katherine
HOURS DESCRIPTION OF HOURS
0.6 Review historical financial information.
1.0 Review and discuss historical financial information.
2.7 Analyze historical store operating cash flow.
Review aging analysis of remodels for Perkins and Marie Callender's in support
2.2 f
o CapEx schedule.
2.1 Review P&L for Franchise to obtain break out among business segments.
1.0 Review and discuss historical operating results within Committee presentation.
Review historical financial performance summaries for the Committee
0.9 .
presentatIon.
Update Committee presentation with descriptions of historical trends and
2.8
discussion of analyses.
2.7 Create schedule outlining trends in capital expenditures.
Update Committee presentation revised graphs outlining historical financial
2.8
trends.
Prepare supporting graphs outlining historical trends including but not limited
2.9 to sales by period, EBITDA by period, etc.
Revise franchise breakout by business segment per updated source data
2.2
received.
2.4 Update estimated claims analysis with revised assumptions.
Revise explanations of GUC claims analysis in Committee presentation for
2.1
revised assumptions.
1.8 Review supporting detail behind trend graphs to ensure functional consistency.
CODE
1 Total
2
2
2
2
2
2
2
EXHIBITC
DATE PROFESSIONAL
8111/2011 Simms, Steven
8/1512011 Goad, David
7/6/2011 O'Loughlin, Morgan
71712011 O'Loughlin, Morgan
2.8 Update historical financial trends supporting tables and graphs.
Update Committee presentation revised graphs outlining historical financial
2.9
trends.
Prepare additional charts outlining costs per sales metrics for the Committee
2.6
presentation.
Prepare Committee presentation re: cost metrics and trends by business
2.4
segment.
0.3 Review Monthly Operating Report (MOR).
0.6 Prepare requests for financial information and analyze flash results.
0.3 Review case communications re: updates.
0.5 Review partnership information and discuss accounting related treatment.
0.8 Review financial information.
1.2 Review historical financial model prepared by the Debtors.
0.2 Review case communications re: updates.
79.1
0.8 Prepare for and participate in call with Debtor re: cash flow forecast.
0.3 Review cash flow forecast.
1.1 Prepare for and participate in call with Debtor re: cash flow forecast.
1.0 Prepare summary of cash flow forecast - budget to actual results.
2.0 Review cash flow forecast.
0.4 Review draft flash report and current cash flow results.
0.8 Review and edit flash report.
EXHffiITC
2 7/2512011 Laber, Mark 1.0 Analyze cash flow results and flash sales results.
2 8/4/2011 Simms, Steven 0.8 Review projections update.
2 8/8/2011 Laber, Mark 0.5 Review flash results and other operating performance.
2 8/9/2011 Hamilton, Christopher 1.8 Update budget to actual results through 8/8.
2 8/9120 II Hamilton, Christopher 1.6 Continue to update budget to actual results.
2 8/9/2011 Laber, Mark 0.6 Analyze and review flash results.
2 8110/2011 Hamilton, Christopher 2.3 Prepare flash report on Company performance and liquidity.
2 811 0120 11 Hamilton, Christopher 0.4 Update flash report on Company.
2 8110/2011 Laber, Mark 0.7 Review and revise flash report.
2 Total 16.1
3 6/3012011 Laber, Mark 0.6 Review DIP.
3 6/30/2011 Laber, Mark 0.3 Continue analysis of the DIP.
3 7/512011 Simms, Steven 0.7 Review DIP and related items.
3 7/512011 Laber, Mark 0.3 Review DIP budget and sensitivity.
3 7/5/2011 Laber, Mark 0.5 Participate in call re: DIP.
3 7/5/2011 Laber, Mark 1.0 Review DIP budget.
3 7/512011 Laber, Mark 1.0 Prepare Committee presentation re: DIP.
3 7/6/2011 Laber, Mark 0.3 Participate in call re: DIP budget and cash flow.
3 7/6/2011 Laber, Mark 2.0 Update and finalize DIP Committee presentation.
CODE
3
3
3
3
3
3 Total
5
5
5
5
5
5
5
5
5
5
5
5
5
EXHffiITC
DATE PROFESSIONAL
7/20/2011 Simms, Steven
712812011 Simms, Steven
1.0 Address issues and participate in calls concerning DIP.
0.3 Participate in discussion and analysis re: exit financing.
0.4 Participate in call with potential financing source.
1.0 Prepare comparison of various financing options.
0.6 Review and discuss terms of proposed financing.
10.0
0.3 Review leases.
0.3 Participate in call with Debtor on lease items.
Analyze and review real estate decisions including a discussions with the
1.5
Debtor.
0.7 Provide updates to Counsel re: lease and franchise developments.
0.3 Review lease issues.
0.3 Correspond re: lease issues.
0.3 Correspond regarding various lease issues.
0.5 Review lease negotiation tracker.
0.7 Review footprint issues.
0.6 Correspond on lease issues.
0.7 Review real estate information.
1.0 Prepare for and participate in call with Company re: real estate issues.
0.4 Participate in call with Debtor re: real estate.
EXHffiITC
5 8/9/2011 Simms, Steven 0.6 Participate in call with Debtor related to lease issues.
5 8/9/2011 Laber, Mark 0.5 Participate in call with Debtor covering real estate issues.
5 8/9/2011 Simms, Steven 0.4 Review lease issues.
5 8/1212011 Laber, Mark 0.2 Review real estate updates.
5 8112/2011 Simms, Steven 0.4 Review lease issues and related matters.
5 8115/2011 Laber, Mark 0.3 Review and discuss potential real estate savings.
5 Total 10.0
6 6/29/2011 Laber, Mark 0.6 Review analyze and discuss asset sale.
6 6/30/2011 Laber, Mark 0.5 Review of IP transaction documents.
6 7/2112011 Laber, Mark 0.7 Prepare analysis supporting IP transaction.
6 Total 1.8
7 8/8/2011 Simms, Steven 1.3 Review projection items.
7 8110/2011 Laber, Mark 2.5 Review and discuss business plan projections.
7 811 0/20 11 Simms, Steven 0.8 Review Committee presentation.
7 8/1112011 Laber, Mark 1.7 Review business plan and prepare question listing.
7 8/1112011 Laber, Mark 4.3 Review and analyze business plan projections and assumptions.
7 8/1212011 Laber, Mark 0.6 Analyze and review business plan projections.
7 811212011 Laber, Mark 0.4 Review business plan requests.
7 8112/2011 Laber, Mark 0.5 Participate in call with Debtors re: business plan.
CODE
7
7
7
7
7
7
7
7
7
7
7
7
7
7
7
7
7
7
7
EXHmITC
DATE PROFESSIONAL
8113/2011 Hamilton, Christopher
811512011 Goad, David
8/15/2011 Hamilton, Christopher
811512011 Hamilton, Christopher
8/16/2011 Goad, David
3.0 Build integrated financial model.
0.7 Review future projections in Debtors' financial model.
2.1 Prepare summary P&L for Perkins and Marie Callender's.
Prepare detailed P&Ls for both Perkins Restaurants and Marie Callender's
3.2
Restaurants.
Prepare detailed P&Ls for Perkins Franchise, Marie Callender's Franchise and
1.7
Foxtail.
2.0 Review and revise summary P&Ls for Committee presentation.
1.0 Participate in call with Debtors re: business plan projections.
1.5 Prepare outline of tables for Committee business plan presentation.
3.0 Review analyze business plan projections and underlying assumptions.
3.2 Participate in conference call with Debtor covering business plan projections.
1.8 Develop questions on business plan model.
1.0 Adjust model for capital leases and rent adjustments.
1.8 Analyze EBITDA calculation.
3.4 Build sensitivity tables for model scenarios.
1.2 Adjust certain key assumptions.
2.2 Review model.
2.6 Update model.
1.7 Review and revise UCC presentation.
1.5 Revise summary P&L tables for Committee presentation.
EXHIBITC
7 8/16/2011 Goad, David 2.3 Prepare presentation on Perkins and Marie Callender's Restaurants.
7 8/1612011 Goad, David 0.5 Prepare summary exhibit for Committee presentation.
7 8/16/2011 Ghi, Katherine
Prepare exhibits supporting outlining forecasted P&L and other revenue
2.9 .
metrlcs for presentation.
7 8/1612011 Goad, David 1.0 Revise business plan review section of Committee report.
7 8/1612011 Laber, Mark 3.6 Prepare analysis supporting business plan presentation.
7 8/1612011 Laber, Mark 3.7 Continue to prepare and review analysis supporting business plan presentation.
7 8/1612011 Hamilton, Christopher 0.8 Revise sensitized EBITDA bridge in model.
7 8/16/2011 Hamilton, Christopher 1.9 Build flexibility in model for claims analysis.
7 8/1612011 Hamilton, Christopher 1.7 Build tables for report on business plan.
7 8/1612011 Hamilton, Christopher 1.8 Participate in call with Debtors re: business plan assumptions and forecast.
7 811612011 Hamilton, Christopher 1.3 Update model.
7 8/16/2011 Ghi, Katherine 2.8 Prepare EBITDA bridge graphs and supporting EBITDA tables.
7 8/16/2011 Ghi, Katherine 2.7 Continue to update EBITDA bridge graphs and supporting EBITDA tables.
7 8/1612011 Ghi, Katherine 2.3 Update negotiation tables with updated information provided by the Company.
7 8/1612011 Ghi, Katherine 2.5 Prepare supporting graphs and tables re: revenue and EBITDA trends.
7 8/1612011 Ghi, Katherine 2.7 Prepare presentation re: forecasted revenues and EBITDA trends.
7 8/1712011 Goad, David 0.5 Revise graphs for Committee presentation.
7 8/17/2011 Goad, David 0.4 Prepare Committee presentation.
7 8/17/2011 Ghi, Katherine 2.2 Review and update Committee presentation.
CODE
7
7
7
7
7
7
7
7
7
7
7
7
7
7
7
7
7 Total
8
8
EXHIBITC
DATE PROFESSIONAL
811 7120 11 Hamilton, Christopher
3.3 Review and revise report Committee report.
3.5 Revise business plan section of Committee presentation.
0.5 Diligence call with Company on business plan.
3.2 Review and update business plan presentation.
2.2 Review and analyze Company business plan.
2.7 Continue to review and update business plan presentation.
Review and incorporate updates into the business plan presentation for the
2.1
Committee.
2.9 Prepare exhibits for business plan report.
2.5 Revise exhibits for business plan report.
0.6 Adjust certain assumptions for business plan review.
1.7 Update business plan report for the Committee.
2.8 Revise supporting graphs outlining forecasted P&L and EBITDA bridges.
Review supporting detail behind EBITDA bridges and other supporting graphs
l.7
to ensure functional consistency.
2.7 Revise supporting detail outlining forecasted P&L and EBITDA bridges.
0.9 Process final edits for Committee presentation on business plan.
0.6 Review final report on Perkins & Marie Callender's business plan.
122.2
1.5 Update illustrative valuation model.
2.3 Build illustrative valuation model.
CODE
8
8
8
8
8
8
8
8
8
8
8
8 Total
12
12
12 Total
13
13
13
13
EXHffiITC
DATE PROFESSIONAL
1.8 Build illustrative valuation model.
2.5 Review and edit illustrative valuation model.
3.3 Review and edit illustrative valuation model.
2.7 Review and analyze business plan illustrative valuation analysis.
1.1 Review equity illustrative valuation model.
1.0 Prepare presentation for equity illustrative valuation section of report.
3.4 Analyze business illustrative valuation.
1.3 Prepare list assumptions for equity illustrative valuation.
1.3 Analyze and adjust illustrative valuation items.
29.0
1.3 Review and summarize schedule F.
Review SOAL F to extract and summarize scheduled general unsecured claims
1.2
into stratified buckets ..
2.5
0.5 Review various motions.
0.3 Review various retention motions.
0.3 Discuss first day motions.
CODE
13
13
13
13
13
13
13
13
13 Total
14
14
14
14
14
14
14
14
14
14
EXHIBITC
DATE PROFESSIONAL
0.5 Participate in discussion with Counsel re: first day motions.
1.0 Participate in discussion with Debtors and Counsel re: first day motions.
0.3 Coordinate with Counsel on first days.
1.0 Review miscellaneous motions.
0.2 Review documentation re: proposed motions.
0.4 Review and discuss miscellaneous motions.
5.9
0.5 Review of key agreements impacting certain claims.
0.3 Review various agreements concerning certain claims.
0.7 Review workplan for estimating unsecured claims for Committee presentation.
2.8 Prepare estimation of potential lease claims.
2.7 Prepare estimation of size potential claim amounts.
2.4 Build summary of estimated general unsecured claims.
Prepare summary of scheduled claims in support of general unsecured claims
2.5
estimation.
2.8 Update summary of estimated general unsecured claims.
2.3 Continue to prepare claims analysis.
2.6 Continue to prepare claims analysis.
CODE
14
14
14
14
14
14
14
14
14
14
14 Total
16
16
16
16
16
16
16
16
EXHIBITC
DATE PROFESSIONAL
2.6 Prepare analysis outlining estimated general unsecured claims.
0.5 Review and discuss estimated general unsecured claims.
2.7 Revise claims estimation based on filed claims from claims register.
1.9 Update claims estimation.
Participate on call with Omni Management re: claims register file and follow-
0.8
up questions.
1.3 Review and analyze results of estimated general unsecured claim pool.
2.6 Revise tables showing estimated claims classes per updated assumptions.
Prepare presentation outlining updated claims estimation amounts and
2.9 estimated recoveries per revised assumptions.
0.2 Review various proofs of claims.
0.2 Analyze potential lease rejection claims.
35.3
0.3 Review Plan of Reorganization (POR).
0.3 Continue to review POR.
0.5 Review corporate governance related documents.
1.6 Review Plan and Disclosure Agreement.
1.7 Review and provide commentary re: draft DS and POR.
0.2 Finalize comments on POR and DS draft.
0.8 Review and analyze projections.
1.1 Review Plan and related documents.
EXHIBITC
16 8110/2011 Hamilton, Christopher 1.5 Analyze financial projections in Disclosure Statement.
16 8/10/2011 Simms, Steven
16 8117/2011 Laber, Mark
16 8/19/2011 Laber, Mark
16 8119/2011 Laber, Mark
16 8/19/2011 Laber, Mark
16 8/22/2011 Laber, Mark
16 8/23/2011 Laber, Mark
16 8/25/2011 Laber, Mark
16 8/25/2011 Laber, Mark
16 8/26/2011 Laber, Mark
16 8/29/2011 Laber, Mark
16 8/30/2011 Laber, Mark
16 8/30/2011 Laber, Mark
16 8130/2011 Laber, Mark
16 8/31/2011 Laber, Mark
0.6 Discussions regarding Plan issues.
2.4 Prepare and analyze various settlement scenarios.
0.6 Prepare for and participate in call with Counsel re: settlement discussions.
0.6 Prepare and review settlement analyses.
0.2 Discuss settlement analysis and proposal.
0.4 Participate in call Counsel re: settlement issues.
0.3 Review and discuss terms of potential settlements.
0.4 Participate on settlement discussion pre-call.
0.3 Participate on settlement discussion pre-call.
0.2 Review claims trading activity.
0.3 Review settlement analysis.
Review and discuss term sheet and potential modifications (settlement
2.1
discussions).
1.1 Review term sheet and related items.
1.1 Settlement discussions and related analysis.
0.8 Analyze revised term sheet.
2.7 Prepare analysis based on settlement discussions.
1.1 Continue to analyze potential changes to cap structure.
Prepare presentation for unsecured creditors Committee summarizing revised
3.7 h
term s eet.
EXHffiITC
16 8/3112011 Laber, Mark 0.3 Discuss updates to settlement discussions.
16 8/3112011 Laber, Mark 0.2 Review and discuss draft Disclosure Statement language.
16 8/3112011 Laber, Mark 0.6 Continue to prepare presentation for the Committee.
16 Total 28.0
19 6/3012011 Laber, Mark 0.5 Prepare and distribute request list.
19 7/512011 Laber, Mark 0.2 Review task plan.
19 71712011 Laber, Mark 0.5 Coordinate in person meeting with the Debtors.
19 711212011 Simms, Steven 0.4 Correspond re: case issues.
19 7/13/2011 Laber, Mark 0.4 Review open items and distribute follow-up.
19 7113/2011 Laber, Mark 0.5 Review case updates and key issues.
19 711312011 Laber, Mark 0.2 Review case outline.
19 7/13/2011 Simms, Steven 0.4 Correspond re: case issues.
19 7/14/2011 Laber, Mark 0.3 Review list of key case items.
19 711512011 Simms, Steven 0.3 Correspond re: case issues.
19 711812011 Simms, Steven 0.7 Update work flow related items.
19 711812011 Laber, Mark 0.5 Review work plan.
19 7119/2011 Laber, Mark 0.2 Review open items.
19 7119/2011 Laber, Mark 0.2 Plan Unsecured Creditors Committee meeting.
19 7/20/2011 Laber, Mark 0.3 Manage case open items.
EXHIBITC
19 8/312011 Simms, Steven 2.3 Participate in meeting re: case issues and strategy.
19 8/4/2011 Pearson, Linda 0.1 Gather case information.
19 8/512011 Simms, Steven 0.7 Correspond re: case issues and update.
19 8/9/2011 Laber, Mark 0.4 Review work plan.
19 8/912011 Laber, Mark 0.5 Review follow-up request listings.
19 8/1012011 Simms, Steven 0.4 Correspond re: case update and workstreams.
19 811112011 Simms, Steven 0.7 Correspond re: case issues and strategy.
19 8/1212011 Simms, Steven 0.7 Update data request and related matters.
19 8/2412011 Laber, Mark 0.4 Review case next steps.
19 8/2512011 Laber, Mark 0.3 Review various case issues.
19 8/26/2011 Simms, Steven 0.8 Correspond re: case issues.
19 812612011 Simms, Steven 0.6 Participate in call re: case issues.
19 Total 13.5
20 6/3012011 Simms, Steven 0.8 Participate in call with Debtor re: case issues.
20 6/3012011 Laber, Mark 1.3 Prepare for and participate in call with Debtors' financial advisor.
20 7/512011 Simms, Steven 0.6 Participate in call with Company on pending motions.
20 7/6/2011 Simms, Steven 0.4 Participate in call with Debtor re: pending motions.
20 71712011 Simms, Steven 0.3 Participate in call with Debtor on certain contracts.
20 71712011 Simms, Steven 0.3 Review Debtor professional retention issues.
EXHffiITC
FOR THE PERIOD JUNE 28, 2011 THROUGH AUGUST 31,2011
20 7/1112011 Simms, Steven 7.5 Participate in meeting with management re: operations.
20 7/1112011 Laber, Mark 10.0 Prepare for and participate in meetings with management (diligence sessions).
20 711112011 O'Loughlin, Morgan 7.0 Participate in meetings with Debtor.
,
20 7/1412011 Laber, Mark 0.5 Prepare for and participate in call with company covering outstanding items.
20 711812011 Laber, Mark 0.2 Discuss Committee meeting agenda.
20 7119/2011 Laber, Mark 0.3 Participate in discussion with Debtor on upcoming case issues.
20 7/2012011 Laber, Mark 0.8 Participate in call with Debtor re: open items and additional financial requests.
20 712112011 Laber, Mark 0.5 Participate in discussion with Debtor concerning case issues.
20 812/2011 Simms, Steven 1.3 Prepare for and participate in call with Debtor re: case issues and updates.
20 81212011 Laber, Mark 1.5 Prepare for and participate in call with Debtor re: case issues and updates.
20 811112011 Simms, Steven 0.6 Correspond with Debtor re: case updates.
20 8116/2011 Simms, Steven 0.8 Participate in call with Debtor re: case issues.
20 8125/2011 Simms, Steven 0.8 Participate in call with Debtor re: Plan and related issues.
20 812912011 Laber, Mark 0.2 Participate in discussion with Debtor re: case issues.
20 Total 35.7
21 6/28/2011 Simms, Steven 0.7 Participate in call with Counsel re: motions.
21 6/28/2011 Laber, Mark 0.5 Participate in call with Counsel re: motions.
21 612912011 Laber, Mark 0.5 Participate in call with Counsel re: key case issues and strategy.
21 6/30/2011 Simms, Steven 0.4 Participate in call with Counsel re: case issues.
EXHmITC
21 6/30/2011 Laber, Mark 0.6 Participate in call with Counsel re: case issues.
21 7/512011 Simms, Steven 0.4 Participate in call with Counsel re: pending motions.
21 7/6/2011 O'Loughlin, Morgan 1.5 Participate in Committee call re: pending motions and operating performance.
21 7/612011 Simms, Steven 1.2 Participate in Committee call re: pending motions and operating performance.
21 7/612011 Simms, Steven 0.2 Participate in call with Counsel in preparation for Committee call.
21 7/612011 Simms, Steven 0.3 Review and revise Committee report.
21 7/6/2011 Laber, Mark 1.6 Participate in Committee call re: pending motions and operating performance.
21 7/812011 Simms, Steven 0.2 Participate in call with Counsel on pending motions.
21 711212011 Laber, Mark 0.3 Participate in call with Committee re: recap of meeting with management.
21 7/1412011 Laber, Mark 0.3 Participate in call with Counsel re: unsecured claims issues and real estate.
21 7/1912011 Laber, Mark 0.5 Review and discuss outline for Committee meeting.
21 7/2012011 Simms, Steven 0.4 Participate in call with Counsel re: workplan and case strategy.
21 7120/2011 Laber, Mark 0.5 Prepare outline for Committee meeting.
21 7/2012011 Laber, Mark 0.8 Prepare for and participate in call with Counsel re: case issues.
21 7/2012011 Laber, Mark 0.5 Review outline for Committee meeting.
21 7/2112011 Laber, Mark 0.3 Participate in call with Counsel re: case update.
21 7/2112011 Laber, Mark
Review and analyze information in preparation of the unsecured creditors
1.0 .
CommIttee report.
21 7/22/2011 Simms, Steven 0.6 Review financial information for Committee report.
21 712512011 Simms, Steven 0.9 Review information in preparation for Committee meeting.
EXHIBITC
21 7/2512011 Laber, Mark 6.0 Continue to prepare Committee presentation.
21 712612011 Ghi, Katherine 2.8 Review Committee presentation.
21 7/26/2011 Simms, Steven 0.9 Review and revise Committee report.
21 7/26/2011 Simms, Steven 1.2 Participate in meeting with creditors and Company.
21 712612011 Laber, Mark 8.0 Finalize presentation for Committee meeting.
21 7/26/2011 Laber, Mark 1.5 Participate in meeting with creditor.
21 712712011 Simms, Steven 4.8 Prepare for and participate in meeting with Debtors and Committee.
21 7127/2011 Laber, Mark 6.0 Prepare for and participate in meeting with Debtors and Committee.
21 81112011 Laber, Mark 1.5 Prepare summary of case specifics for creditor.
21 812/2011 Simms, Steven 0.2 Participate in call with Counsel re: case issues.
21 811112011 Simms, Steven 0.3 Participate in call with Counsel re: creditor on case issues.
21 8/1612011 Simms, Steven 1.3 Review and revise Committee report.
21 8118/2011 Simms, Steven 0.5 Participate in call with Counsel in preparation for Committee meeting.
21 8118/2011 Simms, Steven 1.4 Participate in Committee call re: case issues.
21 8/18/2011 Laber, Mark 2.9 Prepare for and participate in Committee call.
21 8/22/2011 Simms, Steven 0.6 Participate in call with Counsel on case items, including process.
21 812312011 Simms, Steven 1.6 Prepare for and participate on call with secured creditor and Counsel.
EXHmITC
21 8/29/2011 Simms, Steven 1.5 Participate in call with Committee re: proposed settlement.
21 8/30/2011 Laber, Mark 0.9 Participate in conference call with Counsel re settlement.
21 8/3112011 Simms, Steven 2.5 Participate in call with Counsel and secured lender re: settlement issues.
21 Total 61.1
22 7/5/2011 Simms, Steven 0.2 Participate in call with DIP lender on DIP.
22 7/7/2011 Simms, Steven 0.2 Participate in call with lender Counsel on DIP.
22 718/2011 Simms, Steven 0.4 Participate in call with creditor on case issues.
22 7/22/2011 Simms, Steven 0.4 Participate in call with potential strategic partner.
22 7/25/2011 Simms, Steven 0.5 Participate in call with creditor on case issues.
22 7/26/2011 Simms, Steven 1.7 Participate in meeting with creditor on case issues.
22 7/27/2011 Simms, Steven 0.8 Participate in call with creditor on case issues.
22 8/812011 Simms, Steven 0.4 Participate in call with creditor on case issues.
22 8/9/2011 Simms, Steven 0.6 Participate in call with creditor on business plan items.
22 8/9/2011 Laber, Mark 0.5 Participate on call with creditor re: case issues and update.
22 8/23/2011 Laber, Mark 1.2 Participate in settlement discussions.
22 8/30/2011 Simms, Steven 1.3 Participate in call with creditors re: settlement.
22 8/31/2011 Laber, Mark 1.4 Participate in settlement discussions.
22 Total 9.6
23 6/29/2011 Laber, Mark 0.3 Review items with respect to retention.
EXHmITC
23 6/30/2011 Hellmund-Mora, Marili 1.2 Review docket filings re: retention.
23 71712011 Hellmund-Mora, Marili 1.2 Review of relationships for preparation of the affidavit.
23 7/7/2011 Pearson, Linda 0.1 Gather information.
23 711112011 Hellmund-Mora, Marili 1.7 Continue to review relationships in preparation of affidavit.
23 711112011 Hellmund-Mora, Marili 1.4 Review potential disclosures related to affidavit.
23 7/1112011 Hellmund-Mora, Marili 0.7 Prepare retention papers.
23 7/1212011 Hellmund-Mora, Marili 1.3 Prepare retention papers.
23 7112/2011 Hellmund-Mora, Marili 1.2 Address retention issues.
23 7/1212011 Hellmund-Mora, Marili 0.9 Update affidavit.
23 7/1312011 Hellmund-Mora, Marili 1.1 Update retention papers.
23 711312011 Hellmund-Mora, Marili 0.9 Prepare exhibits for affidavit.
23 7118/2011 Laber, Mark 0.5 Finalize retention papers.
23 8/2/2011 Simms, Steven 0.1 Review retention hearing.
23 Total 14.7
24 81412011 Hellmund-Mora, Marili 0.8 Prepare June-July fee application.
24 8/912011 Laber, Mark 0.2 Review and respond to questions re: billing.
24 8/12/2011 Hellmund-Mora, Marili 0.9 Prepare June-July fee application.
EXHffiITC
24 8116/2011 Hellmund-Mora, Marili 1.7 Prepare June -July fee application.
24 811712011 Hellmund-Mora, Marili 0.7 Update June-July fee application.
24 8/18/2011 Laber, Mark 0.4 Review and make edits to fee application.
24 8/1812011 Hellmund-Mora, Marili 0.7 Finalize June-July fee application.
24 811912011 Laber, Mark 0.2 Review of June-July fee application.
24 8/24/2011 Laber, Mark 0.3 Discuss June-July fee application changes.
24 812512011 Laber, Mark 0.4 Finalize June-July fee application.
24 8/25/2011 Laber, Mark 0.2 Revise June-July fee application.
24 Total 6.5
25 7/1112011 Simms, Steven 1.9 Travel time NY-Memphis-NY for meeting with management.
25 711112011 Laber, Mark 2.0 Travel time NY-Memphis-NY for meeting with management.
25 711112011 O'Loughlin, Morgan 4.0 Travel time Boston-Memphis-Boston for meeting with management.
25 Total 7.9
30 7/5/2011 O'Loughlin, Morgan 3.5 Review and update 4-wall store model.
30 7/6/2011 O'Loughlin, Morgan 3.0 Prepare 4-wall store model.
30 711212011 O'Loughlin, Morgan 4.0 Prepare 4-wall store model.
30 7113/2011 O'Loughlin, Morgan 2.0 Review and update 4-wall store model.
30 7/14/2011 Laber, Mark 0.4 Review store financial database.
30 711412011 O'Loughlin, Morgan 2.5 PerfolTI1 4-wall analysis.
EXHffiITC
30 7/1512011 Laber, Mark 1.0 Review and discuss store analysis and next steps.
30 7115/2011 O'Loughlin, Morgan 5.0 Prepare 4-wall analysis.
30 7/1812011 Laber, Mark 0.7 Review and discuss store analysis.
30 711812011 O'Loughlin, Morgan 6.0 Prepare 4-wall store model.
30 7/1912011 O'Loughlin, Morgan 3.5 Perform 4-wall analysis.
30 7/20/2011 Laber, Mark 0.5 Analyze footprint decisions and proposed changes.
30 7/2112011 O'Loughlin, Morgan 1.0 Perform 4-wall analysis.
30 7122/2011 Laber, Mark 2.0 Review 4-wall analysis.
30 7/22/2011 O'Loughlin, Morgan 2.5 Update 4-wall analysis.
30 7/2512011 O'Loughlin, Morgan 2.5 Update 4-wall analysis.
30 7129/2011 Simms, Steven 0.6 Review franchise related items.
30 811/2011 Simms, Steven 0.8 Review store performance issues.
30 812/2011 Simms, Steven 0.7 Review store performance issues.
30 8/312011 Laber, Mark 1.3 Prepare store financial analysis.
30 8/3/2011 Laber, Mark 0.3 Update analysis on issued lease stores.
30 8/312011 Laber, Mark 0.1 Review data requests re: stores.
30 8/512011 Laber, Mark 1.5 Update 4 wall analysis for period 7 results.
30 8/512011 Laber, Mark 0.5 Review and analyze store performance of the franchisees.
30 8/8/2011 Hamilton, Christopher 0.4 Review four-wall analysis.
CODE
30
30
30
30 Total
Grand Total
EXHffiITC
DATE PROFESSIONAL
Participate in call covering capital lease issues (includes follow-up updating of
0.8 d
etailed schedules).
1.3 Revise 4-wall model for capital lease adjustment.
1.7 Continue to analyze specific stores and related trends.
50.1
539.0
EXHIBITD
SUMMARY OF EXPENSES
Expense Type Amount
Airfare $3,745.55
Transportation 972.67
Working Meal 506.84
Other 123.44
$5,348.50
EXHIBITE
EXPENSE DETAIL
Date Professional Expense Type Description of Expenses Amount
07/01/2011 Simms, Steven Airfare Airfare coach LGA-MEM-LGA 7/11/11 - 7111/11. Round trip airfare to Memphis. $1,402.99
07/01/2011 Simms, Steven Airfare Travel Agent Fees round trip airfare to Memphis. 32.00
07/0112011 Laber, Mark Airfare Airfare coach LGA-MEM-LGA, 711 1/11 - 711 1/11. Round trip airfare to Memphis. 884.48
07/01/2011 Laber,Mark Airfare Travel Agent Fees round trip airfare to Memphis. 32.00
0711112011 O'Loughlin, Morgan Airfare Airfare coach Boston - Memphis, 711 1/11 - 7/11/11. Round trip airfare to Memphis. 1,362.08
07111/2011 O'Loughlin, Morgan Airfare Travel Agent Fees round trip airfare to Memphis. 32.00
Airfare Total 3,745.55
07/08/2011 Laber, Mark Transportation Taxi from office to home after working late. 15.00
0711112011 Simms, Steven Transportation Taxi from airport to hotel. 67.23
0711 1/2011 Laber, Mark Transportation Car Reutal Standard 7/11111 -7/11111. 74.41
07/11/2011 Laber, Mark Transportation Taxi from home to LGA. 30.50
0711112011 Laber, Mark Transportation Taxi from LGA to home. 31.70
0711 1/2011 O'Loughlin, Morgan Transportation Taxi airport to home. 27.96
07115/2011 Simms, Steven Transportation Taxi from airport to hotel. 95.00
07/15/2011 Simms, Steven Transportation Taxi from home to LGA airport. Travel to Memphis for meeting with the company. 134.21
0711912011 Ghi, Katherine Transportation Taxi from office to home after working late. 17.23
07/21/2011 Ghi, Katherine Transportation Taxi from office to home after working late. 17.89
08/05/2011 Simms, Steven Transportation Taxi from office to home after working late. 126.95
0811512011 Laber, Mark Transportation Taxi from office to home after working late. 17.30
08115/2011 Goad, David Transportation Taxi from office to home after working late. 52.50
08/17/2011 Simms, Steven Transportation Taxi from client meeting to airport 45.00
08/17/2011 Goad, David Transportation Taxi from office to home after working late. 57.00
08118/2011 Laber, Mark Transportation Taxi from office to home after working late. 22.30
Transportation Total 972.67
07/06/201 I Laber, Mark Working Meals Dinner at office while working late. 20.00
0711112011 Simms, Steven Working Meals Breakfast while traveling to Memphis 13.54
0711112011 Simms, Steven Working Meals Dinner while traveling to Memphis for meeting with the Company. 19.75
07/11/2011 Laber, Mark Working Meals Dinner while traveling to Memphis for meeting with the Company. 19.58
07/1112011 O'Loughlin, Morgan Working Meals Breakfast while traveling to Memphis for a meeting with the Company. 14.59
07/1112011 O'Loughlin, Morgan Working Meals Dinner for self and M. Laber while traveling to Memphis for meeting with the 30.52
Company.
07119/2011 Ghi, Katherine Working Meals Dinner at office while working late. 20.00
07/20/2011 Laber, Mark Working Meals Dinner at office while working late. 10.S7
07/21/2011 Ghi, Katherine Working Meals Dinner at office while working late. 17.72
07/26/2011 Laber, Mark Working Meals Dinner at office while working late. 20.00
07/2S/2011 Laber, Mark Working Meals Dinner for K. Ghi and self at office while working late. 38.53
OS/09/2011 Hamilton, Christopher Working Meals Dinner at office while working late. 20.00
OS/11I2011 Hamilton, Christopher Working Meals Dinner at office while working late. 20.00
OS/15/2011 Hamilton, Christopher Working Meals Dinner for M. Laber and self at office while working late. 40.00
OS/15/2011 Goad, David Working Meals Dinner at office while working late. 12.19
OS/16/2011 Ghi, Katherine Working Meals Dinner at office while working late. 20.00
OS116/2011 Goad, David Working Meals Dinner at office while working late. 12.05
OS/17/2011 Laber, Mark Working Meals Dinner at office while working late. 15.41
OS/17/2011 Goad, David Working Meals Dinner at office while working late. 20.00
OS/17/2011 Ghi, Katherine Working Meals Dinner at office while working late. 20.00
OS/17/2011 Simms, Steven Working Meals Dinner at office while working late. 10.00
OS/IS/2011 Simms, Steven Working Meals Dinner at office while working late. 20.00
Working Meals Total 506.84
07/06/2011 Bellazain-Harris, Sheba Other Electronic Data - Pacer Service Center 74.16
07114/2011 Diaz, Matthew Other Postage Hotel du Pont Steven Simms c/o 49.2S
Other Total $123.44
Iff I charges for transportation home when working late or on the weekend. Professionals worked at least 3 hours on the engagement on the days noted above.

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THE UNITED STATES BANKRUPTCY COURT

FOR THE DISTRICT OF DELAWARE

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