Note 7 - Other Current Assets

12 Months Ended

Jun. 24, 2012

Other Current Assets Disclosure [Text Block]

7. Other Current Assets

Other current assets consist of the following:

	June 24, 2012		June 26, 2011
Value added taxes receivable	$	2,495	$	3,331
Vendor deposits		2,076		921
Prepaid expenses		1,753		1,282
Assets held for sale		341		—
Other		57		57
Total other current assets	$	6,722	$	5,591

Value added taxes receivable are recoverable taxes associated with the sales and purchase activities of the Company’s foreign operations. Vendor deposits primarily relate to down payments made towards the purchase of raw materials from Asia. Prepaid expenses consist of advance payments for insurance, public exchange and rating services, professional fees, membership dues, subscriptions and information technology services. Other includes non-income related tax payments and miscellaneous employee advances.

During the quarter ending June 24, 2012, the Company consolidated certain of its distribution centers and closed its nylon warehouse located in Fort Payne, Alabama. The Company has listed the warehouse, land and improvements for sale. As the expected fair value was greater than the associated carrying value, no impairment charges were recorded.