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Note 16 Restructuring Changes

6 Months Ended

Jun. 30, 2022

Notes to Financial Statements

Restructuring and Related Activities Disclosure [Text Block]

16. RESTRUCTURING CHARGES

In June 2022, we completed a cost savings review aimed at operating efficiencies to better position us for profitable growth. Following the integration of the Acquired Brands after the Acquisition, we identified a number of operational synergies and cost savings opportunities, including a reduction in workforce. We recorded restructuring costs of approximately $1.2 million included in operating expenses in the accompanying unaudited condensed consolidated operating results for the three months ended June 30, 2022.

During the six months ended June 30, 2022, the following activity was recorded:

		Employee Severance, Benefits and
($ in thousands)			Related Costs
Accrued expenses, March 31, 2022			-
Restructuring charges		$	1,201
Cash payments			(100	)
Accrued expenses, June 30, 2022		$	1,101

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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
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