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Note 9 - Restructuring Charges

9 Months Ended

Nov. 28, 2021

Notes to Financial Statements

Restructuring and Related Activities Disclosure [Text Block]

9. RESTRUCTURING CHARGES

The Company recorded restructuring charges of $13 and $197, respectively, for the 13 weeks and 39 weeks ended November 28, 2021 compared to $0 for both the 13 weeks and 39 weeks ended November 29, 2020, related to the closure of the Company’s Park Aerospace Technologies Asia Pte, Ltd facility located in Singapore.

The following table sets forth the charges and accruals related to the restructuring:

		Accrual February 28, 2021				Current Period Charges				Cash Payments				Non-Cash Charges				Accrual November 28, 2021				Total Expense Accrued to Date
Facility lease costs		$	252			$	-			$	(44	)		$	(22	)		$	186			$	252
Asset impairment			-				-				-				-				-				1,318
Asset removal			-				154				(154	)			-				-				154
Other			-				43				(43	)			-				-				43
Total restructuring charges		$	252			$	197			$	(241	)		$	(22	)		$	186			$	1,767

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The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
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