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Note 7 - Asset Activities
9 Months Ended
Nov. 10, 2013
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]

NOTE 7 – ASSET ACTIVITIES


The Company owns the land and building of six closed KFC restaurants, all of which are listed for sale and are shown on the Company’s consolidated balance sheet as Assets Held for Sale as of November 10, 2013. Three of the restaurants were closed during the Company’s fiscal third quarter, one of which was due to relocation of the restaurant operation. Additionally, the Company closed a KFC restaurant in Ohio during the third quarter and sold the land and building.


The Company experienced a loss on restaurant assets of $205,000 for the third quarter of fiscal 2014 consisting of $30,000 related to recording the reserve for disposal of two permanently closed restaurant locations, $36,000 of closed unit expenses, a charge to goodwill related to the sale of one property of $53,000 and $86,000 of other asset disposals.


The loss on restaurant assets of $736,000 for the thirty-six weeks ended November 10, 2013 consisted of $102,000 related to closed unit expense, $66,000 change in reserve for the disposal of two permanently closed leased restaurant locations, $149,000 in write downs of sold restaurants, $166,000 related to the disposal of certain restaurant assets, a charge to goodwill related to the sale of one property of $53,000 and a $200,000 reduction in the value of assets held for sale of two closed locations.