Benefit Plans (Tables)

12 Months Ended

Jan. 30, 2021

Benefit Plans [Abstract]

Stock Options, Valuation Assumptions

The fair values of the options granted have been estimated at the date of grant using the Black - Scholes option pricing model with the following assumptions:

	2020			2019
Dividend yield		0	%		0	%
Expected stock price volatility		88.0-105.5	%		63.7-70.1	%
Risk-free interest rate		0.28%-0.56	%		1.35%-1.62	%
Expected award life ( in years)		4.93-7.12			5.64-6.98
Weighted average fair value per share of awards granted during the year	$	5.81		$	4.46

Stock Option Activity Under Stock Award Plans

The following table summarizes stock option activity under the Stock Award Plans:

	Employee and Director Stock Award Plans
	Number of Shares Subject To Option			Stock Award Exercise Price Range Per Share		Weighted Average Exercise Price		Other Share Awards (1)			Weighted Average Grant Fair Value/ Exercise Price
Balance February 2, 2019		138,921		$	19.60-$97.40	$	55.00		13,571		$	33.60
Granted		5,750		$	3.51-$5.40		3.76		-			-
Cancelled/Forfeited		(15,475	)	$	34.60-$95.40		57.68		-			-
Exercised		-			-		-		(3,626	)		5.66
Balance February 1, 2020		129,196		$	3.51-$97.40	$	52.11		9,945		$	36.75
Granted		98,898		$	3.68 -$10.75		7.36		-			-
Cancelled/Forfeited		(94,738	)	$	7.12 -$97.40		51.84		-			-
Exercised		-			-		-		(9,945	)		(36.75	)
Balance January 30, 2021		133,356		$	3.51-$97.40	$	20.41		-		$	-

 ⁽¹⁾ Other Share Awards include deferred shares granted to executives and directors.

Defined Benefit Pension Plans

The following is a summary of the Company’s defined benefit pension plans as of each fiscal year-end:

Obligation and Funded Status:

(amounts in thousands)	January 30, 2021			February 1, 2020
Change in Projected Benefit Obligation:
Benefit obligation at beginning of year	$	17,673		$	17,476
Service cost		-			55
Interest cost		355			568
Actuarial loss		535			773
Benefits paid		(1,192	)		(1,199	)
Benefit obligation at end of year	$	17,371		$	17,673
Fair value of plan assets at end of year	$	-		$	-
Funded status	$	(17,371	)	$	(17,673	)
Unrecognized net actuarial loss		1,077			529
Accrued benefit cost	$	(16,294	)	$	(17,144	)

Amounts Recognized in the Consolidated Balance Sheets

Amounts recognized in the Consolidated Balance Sheets consist of:

	January 30, 2021			February 1, 2020
(amounts in thousands)
Current liability	$	(1,184	)	$	(1,199	)
Long term liability		(16,722	)		(17,247	)
Accumulated other comprehensive loss		535			773
Net amount recognized	$	(17,371	)	$	(17,673	)

Components of Net Periodic Benefit Cost and Other Amounts Recognized in Other Comprehensive Loss

Components of Net Periodic Benefit Cost and Other Amounts Recognized in Other Comprehensive Loss:

Net Periodic Benefit Cost:

	Fiscal Year
	2020		2019
Service cost	$	-	$	55
Interest cost		355		568
Amortization of actuarial net gain		-		(20	)
Net periodic benefit cost	$	355	$	603

Other Changes in Benefit Obligations Recognized in Other Comprehensive Loss

Other Changes in Benefit Obligations Recognized in Other Comprehensive Loss:

	2020		2019
Net prior service cost recognized as a component of  net periodic benefit cost	$	-	$	-
Net actuarial loss arising during the period		528		744
		528		744
Income tax effect		-		-
Total recognized in other comprehensive loss	$	528	$	744
Total recognized in net periodic benefit cost and other comprehensive loss	$	883	$	1,341

Pre-Tax Components of Accumulated Other Comprehensive Income Unrecognized

The pre-tax components of accumulated other comprehensive loss, which have not yet been recognized as components of net periodic benefit cost as of January 30, 2021 and February 1, 2020 and the tax effect are summarized below.

(amounts in thousands)	January 30,		February 1,
	2021		2020
Net unrecognized actuarial loss	$	528	$	744
Other actuarial adjustments		379		(365	)
Accumulated other comprehensive loss	$	907	$	379
Tax expense		1,100		1,100
Accumulated other comprehensive loss	$	2,007	$	1,479

Weighted-Average Assumptions used to Determine Benefit Obligation and Net Periodic Benefit

	Fiscal Year
	2020			2019
Weighted-average assumptions used to determine benefit obligation:
Discount rate		1.94	%		2.31	%
Salary increase rate		0.00	%		0.00	%
Measurement date	Jan 31, 2021			Jan 31, 2020

	Fiscal Year
	2020			2019
Weighted-average assumptions used to determine net periodic benefit cost:
Discount rate		1.94	%		2.31	%
Salary increase rate		N/A			N/A

Expected Benefit Payments

The following benefit payments over the next ten years are expected to be paid:

Year	Pension Benefits
(amounts in thousands)
2021		1,184
2022		1,149
2023		1,149
2024		1,149
2025		1,269
2026 – 2030		6,511