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Restructuring Activities (Tables) | 9 Months Ended
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Jan. 26, 2025
Restructuring and Related Activities [Abstract] |
Summary of Restructuring Expense and Restructuring Related Charges (Credits) | The following summarizes restructuring and restructuring related charges for the three-month and nine-month periods ended January 26, 2025:
|  | Three Months Ended |  |  | Nine Months Ended |
(dollars in thousands) |  | January 26, 2025 |  |  | January 26, 2025 |
Additional depreciation expense for shortened useful lives of equipment |  | $ | — |  |  | $ | 1,339 |
Employee termination benefits |  |  | 176 |  |  |  | 1,428 |
Other associated costs |  |  | 1,512 |  |  |  | 2,730 |
Loss on disposal, valuation, and markdowns of inventory |  |  | 624 |  |  |  | 1,509 |
Lease termination costs |  |  | — |  |  |  | 849 |
Net gain on disposal of equipment |  |  | (33 | ) |  |  | (43 | )
Restructuring expense and restructuring related charges (1) (2) |  | $ | 2,279 |  |  | $ | 7,812 |
(1) Of the total $2.3 million restructuring and restructuring related charges, $1.7 million and $624,000 were classified within restructuring expense and cost of sales, respectively, in the Consolidated Statement of Net Loss for the three-month period ending January 26, 2025. The $2.3 million mostly relates to the mattress fabrics segment. (2) Of the total $7.8 million restructuring and restructuring related charges, $6.3 million and $1.5 million were classified within restructuring expense and cost of sales, respectively, in the Consolidated Statement of Net Loss for the nine-month period ending January 26, 2025. The $7.8 million mostly relates to the mattress fabrics segment. The following summarizes our restructuring (credit) expense and restructuring related (credit) charge for the three months and nine months ended January 28, 2024:
|  | Three Months Ended |  |  | Nine Months Ended |
(dollars in thousands) |  | Janaury 28, 2024 |  |  | Janaury 28, 2024 |
Employee termination benefits |  | $ | — |  |  | $ | 103 |
Impairment loss - leasehold improvements and equipment |  |  | — |  |  |  | 329 |
Gains on sale of equipment |  |  | (50 | ) |  |  | — |
(Gain) loss on disposal and markdowns of inventory |  |  | (61 | ) |  |  | 40 |
Restructuring expense and restructuring related (credits) charges (1) (2) |  | $ | (111 | ) |  | $ | 472 |
(1) Of the total $(111,000), $(50,000) and $(61,000) were recorded within restructuring credit and cost of sales, respectively, in the Consolidated Statement of Net Loss for the three-month period ended January 28, 2024. (2) Of the total $472,000, $432,000 and $40,000 were recorded within restructuring expense and cost of sales, respectively, in the Consolidated Statement of Net Loss for the nine-month period ended January 28, 2024.
Summary of Activity in Accrued Restructuring | The following summarizes accrued restructuring costs for the nine-month period ended January 26, 2025:
|  | Employee |  |  | Other |  |  |  |
|  | Termination |  |  | Associated |  |  |  |
(dollars in thousands) |  | Benefits |  |  | Costs |  |  | Total |
Beginning balance |  | $ | — |  |  | $ | — |  |  | $ | — |
Expenses incurred |  |  | 1,535 |  |  |  | 2,730 |  |  |  | 4,265 |
Change in estimate adjustments |  |  | (107 | ) |  |  | — |  |  |  | (107 | )
Payments |  |  | (896 | ) |  |  | (2,509 | ) |  |  | (3,405 | )
Foreign currency exchange remeasurement |  |  | (14 | ) |  |  | (16 | ) |  |  | (30 | )
Ending Balance |  | $ | 518 |  |  | $ | 205 |  |  | $ | 723 |
The following summarizes the activity in accrued restructuring costs for the nine-month period ended January 26, 2025:
(dollars in thousands) | Total |
Beginning balance (1) | $ | 3 |
Expenses incurred (2) |  | 14 |
Payments |  | (17 | )
Ending balance | $ | — |
(1) Accrued restructuring expense of $3,000 was reported within accrued expenses in the Consolidated Balance Sheet for the period ended April 28, 2024. (2) Expenses incurred represent other associated costs and were recognized in our Consolidated Statement of Net Loss for the nine-month period ended January 26, 2025.

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- 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
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- 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
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