Discontinued Operations

12 Months Ended

Sep. 30, 2014

Discontinued Operations

Discontinued Operations

4.    Discontinued Operations

Julian Graves

        On July 2, 2012, the board of directors of Julian Graves Limited, a company organized under the laws of the United Kingdom and Wales (the "UK Debtor") and an indirect, wholly-owned subsidiary of the Company, Deloitte LLP (the "Administrators") were appointed as administrators in respect of the UK Debtor (the "UK Administration"). The UK Administration, which was limited to the UK Debtor, was initiated in response to continuing operating losses of the UK Debtor and their related impact on the Company's cash flows. The effect of the UK Debtor's entry into administration was to place the management, affairs, business and property of the UK Debtor under the direct control of the Administrators. The Administrators have wound the operations down and there are no material adjustments anticipated.

        The results of the Julian Graves business included in discontinued operations (previously in the European Retail Segment) for the fiscal year ended September 30, 2012 are summarized in the following table:

	2012
Net sales	$	43,999
Impairments and deconsolidation loss		(27,509	)
Loss from operations, before income taxes		(27,682	)
Benefit for income taxes		(9,065	)
Loss, net of income taxes		(18,617	)

        As of June 30, 2012, the carrying value of all assets relating to the UK Debtor were evaluated and an impairment of $20,106, primarily relating to the Julian Graves Tradename, was recorded. As of July 2, 2012, concurrent with the transfer of control of the UK Debtor to the Administrator, a deconsolidation loss of approximately $7,403 was recorded.

Le Naturiste

        On August 31, 2012 we sold certain assets and liabilities of our subsidiary Le Naturiste, Inc. for a net sales price of $1,600. The sale of Le Naturiste resulted in a loss of approximately $3,088 which is included in discontinued operations for the year ended September 30, 2012. The results of the Le Naturiste business included in discontinued operations (previously in the North American Retail Segment) for the fiscal year ended September 30, 2012 are summarized in the following table:

	2012
Net sales	$	17,228
Loss on sale of business		(3,088	)
Loss from operations, before income taxes		(4,431	)
Benefit for income taxes		—
Loss, net of income taxes		(4,431	)