UST Form 11-MOR (12/01/2021) 1

UNITED STATES BANKRUPTCY COURT

EASTERN DISTRICT OF VIRGINIA

NORFOLK (REASSIGNED)

In Re. MAHWAH BERGEN RETAIL GROPUP, INC., 

F/K/A ASCENA RETAIL GROUP, INC.

Debtor(s)

§ 

§ 

§ 

§ 

Case No. 20-33113

Lead Case No. 20-33113

Jointly Administered

Monthly Operating Report Chapter 11

Reporting Period Ended: 01/31/2022 Petition Date: 07/23/2020

Months Pending: 19 Industry Classification: 5 6 2 1

Reporting Method: Accrual Basis Cash Basis

Debtor's Full-Time Employees (current): 0

Debtor's Full-Time Employees (as of date of order for relief): 9,422

Supporting Documentation (check all that are attached):

(For jointly administered debtors, any required schedules must be provided on a non-consolidated basis for each debtor)

Statement of cash receipts and disbursements

Balance sheet containing the summary and detail of the assets, liabilities and equity (net worth) or deficit 

Statement of operations (profit or loss statement)

Accounts receivable aging

Postpetition liabilities aging

Statement of capital assets

Schedule of payments to professionals

Schedule of payments to insiders

All bank statements and bank reconciliations for the reporting period 

Description of the assets sold or transferred and the terms of the sale or transfer

Signature of Responsible Party Printed Name of Responsible Party

Date

Address

/s/ Gilbert Nathan

02/22/2022

GILBERT NATHAN

606 POST ROAD E #624 WESTPORT, CT 06880

STATEMENT: This Periodic Report is associated with an open bankruptcy case; therefore, Paperwork Reduction Act exemption 5 C.F.R. 

§ 1320.4(a)(2) applies.

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Document Page 1 of 12
UST Form 11-MOR (12/01/2021) 2

Debtor's Name MAHWAH BERGEN RETAIL GROPUP, INC., 

F/K/A ASCENA RETAIL GROUP, INC.

Case No. 20-33113

Part 1: Cash Receipts and Disbursements Current Month Cumulative

a. Cash balance beginning of month $27,401,508

b. Total receipts (net of transfers between accounts) $1,003,648 $1,003,648

c. Total disbursements (net of transfers between accounts) $624,227 $624,227

d. Cash balance end of month (a+b-c) $27,780,929

e. Disbursements made by third party for the benefit of the estate $0 $0

f. Total disbursements for quarterly fee calculation (c+e) $624,227 $624,227

Part 2: Asset and Liability Status Current Month

(Not generally applicable to Individual Debtors. See Instructions.)

a. Accounts receivable (total net of allowance) $0

b. Accounts receivable over 90 days outstanding (net of allowance) $0

c. Inventory (Book Market Other (attach explanation)) $0

d Total current assets $0

e. Total assets $0

f. Postpetition payables (excluding taxes) $0

g. Postpetition payables past due (excluding taxes) $0

h. Postpetition taxes payable $0

i. Postpetition taxes past due $0

j. Total postpetition debt (f+h) $0

k. Prepetition secured debt $0

l. Prepetition priority debt $0

m. Prepetition unsecured debt $0

n. Total liabilities (debt) (j+k+l+m) $0

o. Ending equity/net worth (e-n) $0

Part 3: Assets Sold or Transferred Current Month Cumulative

a. Total cash sales price for assets sold/transferred outside the ordinary 

course of business $0 $0

b. Total payments to third parties incident to assets being sold/transferred 

outside the ordinary course of business $0 $0

c. Net cash proceeds from assets sold/transferred outside the ordinary 

course of business (a-b) $0 $0

Part 4: Income Statement (Statement of Operations) Current Month Cumulative

(Not generally applicable to Individual Debtors. See Instructions.)

a. Gross income/sales (net of returns and allowances) $0

b. Cost of goods sold (inclusive of depreciation, if applicable) $0

c. Gross profit (a-b) $0

d. Selling expenses $0

e. General and administrative expenses $0

f. Other expenses $0

g. Depreciation and/or amortization (not included in 4b) $0

h. Interest $0

i. Taxes (local, state, and federal) $0

j. Reorganization items $0

k. Profit (loss) $0 $0

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UST Form 11-MOR (12/01/2021) 3

Debtor's Name MAHWAH BERGEN RETAIL GROPUP, INC., 

F/K/A ASCENA RETAIL GROUP, INC.

Case No. 20-33113

Part 5: Professional Fees and Expenses

 Approved 

Current Month

Approved 

Cumulative

Paid Current 

Month

Paid 

Cumulative

a. Debtor's professional fees & expenses (bankruptcy) Aggregate Total $0 $0 $0 $0

Itemized Breakdown by Firm

Firm Name Role

i n/a $0 $0 $0 $0

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UST Form 11-MOR (12/01/2021) 4

Debtor's Name MAHWAH BERGEN RETAIL GROPUP, INC., 

F/K/A ASCENA RETAIL GROUP, INC.

Case No. 20-33113

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UST Form 11-MOR (12/01/2021) 5

Debtor's Name MAHWAH BERGEN RETAIL GROPUP, INC., 

F/K/A ASCENA RETAIL GROUP, INC.

Case No. 20-33113

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b. Debtor's professional fees & expenses (nonbankruptcy) Aggregate Total $0 $0 $0 $0

Itemized Breakdown by Firm

Firm Name Role

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UST Form 11-MOR (12/01/2021) 6

Debtor's Name MAHWAH BERGEN RETAIL GROPUP, INC., 

F/K/A ASCENA RETAIL GROUP, INC.

Case No. 20-33113

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UST Form 11-MOR (12/01/2021) 7

Debtor's Name MAHWAH BERGEN RETAIL GROPUP, INC., 

F/K/A ASCENA RETAIL GROUP, INC.

Case No. 20-33113

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UST Form 11-MOR (12/01/2021) 8

Debtor's Name MAHWAH BERGEN RETAIL GROPUP, INC., 

F/K/A ASCENA RETAIL GROUP, INC.

Case No. 20-33113

xcix

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c. All professional fees and expenses (debtor & committees) $0 $0 $0 $0

Part 6: Postpetition Taxes Current Month Cumulative

a. Postpetition income taxes accrued (local, state, and federal) $0 $0

b. Postpetition income taxes paid (local, state, and federal) $0 $0

c. Postpetition employer payroll taxes accrued $0 $0

d. Postpetition employer payroll taxes paid $0 $0

e. Postpetition property taxes paid $0 $0

f. Postpetition other taxes accrued (local, state, and federal) $0 $0

g. Postpetition other taxes paid (local, state, and federal) $0 $0

Part 7: Questionnaire - During this reporting period:

a. Were any payments made on prepetition debt? (if yes, see Instructions) Yes No

b. Were any payments made outside the ordinary course of business Yes No

without court approval? (if yes, see Instructions)

c. Were any payments made to or on behalf of insiders? Yes No

d. Are you current on postpetition tax return filings? Yes No

e. Are you current on postpetition estimated tax payments? Yes No

f. Were all trust fund taxes remitted on a current basis? Yes No

g. Was there any postpetition borrowing, other than trade credit? Yes No

(if yes, see Instructions)

h. Were all payments made to or on behalf of professionals approved by 

the court?

Yes No N/A

i. Do you have: Worker's compensation insurance? Yes No

If yes, are your premiums current? Yes No N/A (if no, see Instructions)

Casualty/property insurance? Yes No

If yes, are your premiums current? Yes No N/A (if no, see Instructions)

General liability insurance? Yes No

If yes, are your premiums current? Yes No N/A (if no, see Instructions)

j. Has a plan of reorganization been filed with the court? Yes No

k. Has a disclosure statement been filed with the court? Yes No

l. Are you current with quarterly U.S. Trustee fees as 

set forth under 28 U.S.C. § 1930?

Yes No

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UST Form 11-MOR (12/01/2021) 9

Debtor's Name MAHWAH BERGEN RETAIL GROPUP, INC., 

F/K/A ASCENA RETAIL GROUP, INC.

Case No. 20-33113

Part 8: Individual Chapter 11 Debtors (Only)

a. Gross income (receipts) from salary and wages $0

b. Gross income (receipts) from self-employment $0

c. Gross income from all other sources $0

d. Total income in the reporting period (a+b+c) $0

e. Payroll deductions $0

f. Self-employment related expenses $0

g. Living expenses $0

h. All other expenses $0

i. Total expenses in the reporting period (e+f+g+h) $0

j. Difference between total income and total expenses (d-i) $0

k. List the total amount of all postpetition debts that are past due $0

l. Are you required to pay any Domestic Support Obligations as defined by 11

U.S.C § 101(14A)?

Yes No

m. If yes, have you made all Domestic Support Obligation payments? Yes No N/A

Privacy Act Statement 

28 U.S.C. § 589b authorizes the collection of this information, and provision of this information is mandatory under 11 U.S.C. 

§§ 704, 1106, and 1107. The United States Trustee will use this information to calculate statutory fee assessments under 28

U.S.C. § 1930(a)(6). The United States Trustee will also use this information to evaluate a chapter 11 debtor's progress

through the bankruptcy system, including the likelihood of a plan of reorganization being confirmed and whether the case is

being prosecuted in good faith. This information may be disclosed to a bankruptcy trustee or examiner when the information

is needed to perform the trustee's or examiner's duties or to the appropriate federal, state, local, regulatory, tribal, or foreign

law enforcement agency when the information indicates a violation or potential violation of law. Other disclosures may be

made for routine purposes. For a discussion of the types of routine disclosures that may be made, you may consult the

Executive Office for United States Trustee's systems of records notice, UST-001, "Bankruptcy Case Files and Associated

Records." See 71 Fed. Reg. 59,818 et seq. (Oct. 11, 2006). A copy of the notice may be obtained at the following link: http://

www.justice.gov/ust/eo/rules_regulations/index.htm. Failure to provide this information could result in the dismissal or

conversion of your bankruptcy case or other action by the United States Trustee. 11 U.S.C. § 1112(b)(4)(F).

I declare under penalty of perjury that the foregoing Monthly Operating Report and its supporting 

documentation are true and correct and that I have been authorized to sign this report on behalf of the 

estate.

/s/ Gilbert Nathan

Signature of Responsible Party

SOLE OFFICER/DIRECTOR of MAHWAH BERGEN 

Printed Name of Responsible Party

02/22/2022

Title Date

GILBERT NATHAN

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Mahwah Bergen Retail Group, Inc. 

20-33113 [Jointly Administered]

Statement of Cash Receipts and Disbursements - January 2022

Month Ending Q1 2022

1/31/2022 Total 

Beginning Cash $ 27,401,508 $ 27,401,508

Receipts $ 1,003,648 $ 1,003,648

Disbursements

Officer/Director Compensation 25,000 25,000

UST Trustee Fee 250,000 250,000

Other Professionals 168,445 168,445

Utility Expense 144 144

Other Administrative Expenses 180,637 180,637

Ending Balance $ 27,780,929 $ 27,780,929

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Mahwah Bergen Retail Group, Inc. 

20-33113 [Jointly Administered]

Bank Account Info

Last 4 Digits of

Beginning 

Balances

Ending 

Balances

Bank Name Bank Account Description 1/1/2022 1/31/2022

Signature Bank 4788 Money Market -1 $ 21,265,051 $ 21,486,300

Signature Bank 8427 Money Market -1- Checking Account 56,710 56,710

Signature Bank 4796 Money Market -2 5,581,871 5,131,916

Signature Bank 8419 Money Market -2- Checking Account 17,221 23,776

Wells Fargo 8395 Checking Account 480,655 1,082,227

Total Cash $ 27,401,508 $ 27,780,929

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NOTES 

The Monthly Operating Report does not purport to represent financial statements prepared in accordance 

with Generally Accepted Accounting Principles in the United States (“GAAP”). Additionally, the Monthly 

Operating Report contains unaudited information that is subject to further review, potential adjustment, and 

reflect the Debtors’ commercially reasonable efforts to report the financial position as of January 31, 2022. 

In preparing the Monthly Operating Report, the Debtors relied on financial data derived from their books 

and records that was available at the time of such preparation. Although the Debtors have made 

commercially reasonable efforts to ensure the accuracy and completeness of the Monthly Operating Report, 

subsequent information or discovery may result in material changes to the Monthly Operating Report. As 

a result, inadvertent errors or omissions may exist. Accordingly, the Debtors and their directors, managers, 

officers, agents, attorneys and financial advisors do not guarantee or warrant the accuracy or completeness 

of the data that is provided herein, and shall not be liable for any loss or injury arising out of or caused in 

whole or in part by the acts, errors, or omissions, whether negligent or otherwise, in procuring, compiling, 

collecting, interpreting, reporting, communicating, or delivering the information contained herein or the 

Monthly Operating Report. In no event shall the Debtors or their directors, managers, officers, agents, 

attorneys and financial advisors be liable to any third party for any direct, indirect, incidental, consequential, 

or special damages (including, but not limited to, damages arising from the disallowance of a potential 

claim against the Debtors or damages to business reputation, lost business, or lost profits), whether 

foreseeable or not and however caused, even if the Debtors or their directors, managers, officers, agents, 

attorneys, and financial advisors are advised of the possibility of such damages. 

The Monthly Operating Report has been signed by Mr. Gilbert Nathan, as the sole officer/director of 

Mahwah Bergen Retail Group, Inc. (F/K/A Ascena Retail Group, Inc.), and an authorized signatory at each 

of the Debtors. In reviewing and signing the Monthly Operating Report, Mr. Nathan necessarily relied 

upon the efforts, statements, and representations of others. 

For the avoidance of doubt, the Debtors reserve all of their rights to amend and supplement the Monthly 

Operating Report as may be necessary or appropriate, but the Debtors and their attorneys and financial 

advisors expressly do not undertake any obligation to update, modify, revise, or re-categorize the 

information provided herein, or to notify any third party should the information be updated, modified, 

revised, or re-categorized, except as required by applicable law or order of the Bankruptcy Court. 

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