Restructuring and Related Charges

3 Months Ended

Mar. 29, 2014

Restructuring and Related Activities [Abstract]

Restructuring and Related Activities Disclosure [Text Block]

6.    Restructuring and Related Charges

            In 2011, we evaluated our overall warehousing and distribution requirements for our Stanley Furniture product line and concluded only a portion of the leased warehouse space in Stanleytown, Virginia would be required.  As a result, we took charges for future lease obligations in 2011 and in 2012 for the portions of the Stanleytown warehouse facility no longer used. 

            In 2012, we made the strategic decision to consolidate our corporate office and High Point showroom into a single multi-purpose facility in High Point, North Carolina.  During 2013, we recorded $770,000 in restructuring charges in selling, general and administrative expenses for severance and relocation costs associated with this move and consolidation, with $260,000 of that total recorded in the first quarter.

Restructuring accrual activity for the three months ending March 29, 2014 was as follows:

		Lease  Obligations		Severance and other termination costs		Total
Accrual at January 1, 2014	$	488	$	169	$	657
Charges to expense
Cash payments		(61)		(104)		(165)
Accrual at March 29, 2014	$	427	$	65	$	492

Restructuring accrual activity for the three months ending March 30, 2013 was as follows:

		Lease  Obligations		Severance and other termination costs		Total
Accrual at January 1, 2013	$	732	$		$	732
Charges to expense				260		260
Cash payments		(61)		(54)		(115)
Accrual at March 30, 2013	$	671	$	206	$	877

The restructuring accrual is classified as “Other accrued expenses”.