8. For the year ending December 31, 2008, the Company’s consolidated net sales for 2008 were $3.5 billion and generated a gross profit of $736 million. In 2007, the Company’s consolidated net sales were $3.7 billion and generated a gross profit of $864 million. In 2006, the Company’s consolidated net sales were $3.5 billion and generated a gross profit of $831 million. As of the year ending December 31, 2008, the Company had approximately $3.1 billion in assets and $2.6 billion in liabilities on a consolidated basis. The Company employs more than 4,700 full-time employees. 9. A confluence of events has led to the filing of these chapter 11 cases. As discussed in more detail in the First Day Declaration, the Company operates in a highly competitive industry that is in the midst of a sustained global recession that has caused business
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