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Note 13 - Restructuring and Other Impairment Activities

3 Months Ended

Sep. 30, 2022

Restructuring, Impairment, and Other Activities Disclosure [Text Block]

(13)

Restructuring and Other Impairment Activities

Restructuring and other impairment charges, net of gains, were as follows (in thousands):

	Three months ended
	September 30,
	2022			2021
Gain on sale and leaseback transaction⁽¹⁾	$	(2,257	)	$	-
Severance and other charges		261			255
Total Restructuring and other impairment charges, net of gains	$	(1,996	)	$	255

(1)

In August 2022, we sold and subsequently leased back a retail design center and recognized a net gain of $2.3 million during the quarter. As of September 30, 2022, the remaining deferred liability was $4.8 million and will be recognized over the remaining life of the lease. Refer to Note 6, Leases, for further discussion on the sale-leaseback transaction.

Restructuring payments made by the Company during the first three months of fiscal 2023 were $0.2 million, which were primarily for lease payments due under a retail design center that was previously exited and employee severance. Excluding the deferred liability of $4.8 million related to the sale-leaseback transaction, the remaining restructuring balance as of September 30, 2022 was less than $0.5 million, which is anticipated to be paid during the remainder of fiscal 2023.