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Subsequent Events
6 Months Ended
Aug. 31, 2017
Subsequent Events  
Subsequent Events

Note 16 – Subsequent Events

On September 18, 2017, Toys “R” Us, Inc. and certain subsidiaries, a retail customer of the Housewares and Health & Home segments, filed for protection under chapter 11 of the U.S. Bankruptcy Code. In the second quarter of fiscal 2018, the Company recorded a charge of $3.6 million to reserve outstanding accounts receivable and provide for estimated liabilities from the bankruptcy proceedings.

 

On October 5, 2017, the Company announced that it had approved a restructuring plan (referred to as “Project Refuel”) intended to enhance the performance of the Beauty and Nutritional Supplements segments.  Through the restructuring, the Company is targeting annualized savings of $10 million combined over the next 18 months and expects to incur restructuring charges over the same period in the range of $4.0 to $6.0 million.