XML 59 R41.htm IDEA: XBRL DOCUMENT v3.25.2

Restructuring Activities (Tables)

12 Months Ended

Apr. 27, 2025

Restructuring and Related Activities [Abstract]

Summary of Restructuring Expense and Restructuring Related Charges

The following summarizes restructuring and restructuring related charges associated with the above announcements for the year ended April 27, 2025:

		Year Ended
(dollars in thousands)		April 27, 2025
Additional depreciation expense for shortened useful lives of equipment		$	1,339
Employee termination benefits			1,552
Impairment of intangible asset			540
Facility consolidation and relocation expenses			2,437
Loss on disposal, valuation, and markdowns of inventory			1,621
Lease termination costs			849
Other associated costs			1,024
Net gain on sale of equipment			(16	)
Restructuring expense and restructuring related charges (1) (2) (3)		$	9,346

(1) Of the total $9.3 million, $7.7 million and $1.6 million were recorded within restructuring expense and cost of sales, respectively, in the fiscal 2025 Consolidated Statement of Net Loss.

(2) Of the total $9.3 million, $8.7 million and $676,000 relate to the restructuring activities announced on May 1, 2024, and the strategic transformation initiatives announced on April 24, 2025, respectively.

(3) Of the total $9.3 million, $8.5 million, $540,000, and $290,000 relate to the mattress fabrics segment, unallocated corporate, and the upholstery fabrics segment, respectively.

The following summarizes restructuring expense and restructuring related charges associated with our upholstery fabrics segment's restructuring activities initiated during fiscal 2024 and 2023, for fiscal years 2025, 2024, and 2023:

(dollars in thousands)		2025				2024				2023
Employee termination benefits	$	—			$	307			$	507
Lease termination costs		—				—				481
Impairment loss - property, plant, and equipment		—				329				357
Loss on disposal and markdowns of inventory		—				40				98
Other associated costs		14				—				51
Restructuring expense and restructuring related charges (1) (2) (3)	$	14			$	676			$	1,494

(1) The total $14,000 was recorded within restructuring expense in the fiscal 2025 Consolidated Statement of Net Loss.

(2) Of the total $676,000, $636,000 and $40,000 were recorded within restructuring expense and cost of sales, respectively, in the fiscal 2024 Consolidated Statement of Net Loss.

(3) Of the total $1.5 million, $1.4 million and $98,000 were recorded within restructuring expense and cost of sales, respectively, in the fiscal 2023 Consolidated Statement of Net Loss.

Summary of Activity in Accrued Restructuring

The following summarizes accrued restructuring costs for the two plans described above for the year ended April 27, 2025:

		Employee				Other				Facility Consolidation
		Termination				Associated				and Relocation
(dollars in thousands)		Benefits				Costs				Costs				Total
Beginning balance		$	—			$	—			$	—			$	—
Expenses incurred			1,667				1,032				2,437				5,136
Change in estimate adjustments			(115	)			(8	)			—				(123	)
Payments			(1,019	)			(926	)			(2,435	)			(4,380	)
Foreign currency exchange remeasurement			(11	)			(10	)			(2	)			(23	)
Ending Balance		$	522			$	88			$	—			$	610

The following summarizes the activity in accrued restructuring associated with our upholstery fabrics segment's restructuring activities initiated during fiscal 2024 and 2023, for fiscal years ended 2025, 2024, and 2023:

		Employee				Lease				Other
		Termination				Termination				Associated
(dollars in thousands)		Benefits				Costs				Costs				Total
Balance, May 1, 2022		$	—			$	—			$	—			$	—
Accrual established in fiscal 2023			507				47				—				554
Expenses incurred			—				—				51				51
Payments			(507	)			(47	)			(51	)			(605	)
Balance, April 30, 2023			—				—				—				—
Accrual established in fiscal 2024			307				—				—				307
Expenses incurred			—				—				—				—
Payments			(304	)			—				—				(304	)
Balance, April 28, 2024 (1)			3				—				—				3
Expense incurred			—				—				14				14
Payments			(3	)			—				(14	)			(17	)
Balance, April 27, 2025		$	—			$	—			$	—			$	—

X

- References

No definition available.

+ Details

Name:	us-gaap_RestructuringAndRelatedActivitiesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 5.P.3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479823/420-10-S99-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.P.4)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482017/420-10-50-1

+ Details

Name:	us-gaap_ScheduleOfRestructuringAndRelatedCostsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.P.4.b.2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482017/420-10-50-1

+ Details

Name:	us-gaap_ScheduleOfRestructuringReserveByTypeOfCostTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration