XML 44 R33.htm IDEA: XBRL DOCUMENT v3.3.1.900
Long-Term Debt (Details Textual)
1 Months Ended 9 Months Ended
Dec. 31, 2015
Sep. 21, 2015
USD ($)
Jan. 31, 2015
USD ($)
Oct. 29, 2014
USD ($)
shares
Jun. 28, 2013
USD ($)
shares
Oct. 31, 2015
USD ($)
Oct. 31, 2015
CAD
Dec. 19, 2015
Dec. 03, 2015
USD ($)
Dec. 03, 2015
GBP (£)
Oct. 31, 2015
CAD
Oct. 31, 2015
CNY (¥)
Oct. 10, 2015
USD ($)
Oct. 10, 2015
CNY (¥)
Mar. 31, 2015
Dec. 03, 2014
USD ($)
Dec. 03, 2014
GBP (£)
Debt Instrument [Line Items]                                  
Line of Credit Facility, Collateral           A perfected first security lien on all of the Borrowers United States and Canadian assets, other than its Mexican plant and the Canadian warehouse. o Pledge of 65% of Lakeland US stock in all foreign subsidiaries and 100% pledge of stock of its Canadian subsidiaries. A perfected first security lien on all of the Borrowers United States and Canadian assets, other than its Mexican plant and the Canadian warehouse. o Pledge of 65% of Lakeland US stock in all foreign subsidiaries and 100% pledge of stock of its Canadian subsidiaries.                    
Line of Credit Facility, Covenant Terms           Prepayment penalties of 2% if prior to the second anniversary of the Closing Date and 1% thereafter. Prepayment penalties of 2% if prior to the second anniversary of the Closing Date and 1% thereafter.                    
Long-term Line of Credit           $ 300,000                      
Line Of Credit facility Maturity Description           An initial term of three years from June 28, 2013 (the Closing Date), which has been extended to June 28, 2017 pursuant to the Amendment. o Prepayment penalties of 2% if prior to the second anniversary of the Closing Date and 1% thereafter. An initial term of three years from June 28, 2013 (the Closing Date), which has been extended to June 28, 2017 pursuant to the Amendment. o Prepayment penalties of 2% if prior to the second anniversary of the Closing Date and 1% thereafter.                    
Description Of Senior Loan Agreement           The primary purposes of the Second Amendment were to (i) modify the definition of Permitted Asset Disposition to provide the Company with the ability to transfer the stock of the Companys then wholly-owned Brazilian subsidiary, Lakeland Brazil and (ii) allow the Borrowers to transfer funds to Lakeland Brazil for the specific purposes of settling arbitration claims, paying contractual expenses, and paying expenses incurred in connection with a transfer of the stock of Lakeland Brazil so long as, after giving effect to any such transfer, the amount Borrowers have as excess availability under the revolver loans, excluding the $15 million facility cap for this purpose only, calculated pursuant to and under the Senior Loan Agreement, is at least $3.0 million. Also, as part of the Second Amendment, Lender consented to the sale of the Companys corporate offices in Ronkonkoma, New York on the condition that the net cash proceeds from the sale in the amount of at least $450,000 are used by the Company to pay down the Borrowers obligations to Lender under the Senior Loan Agreement. The primary purposes of the Second Amendment were to (i) modify the definition of Permitted Asset Disposition to provide the Company with the ability to transfer the stock of the Companys then wholly-owned Brazilian subsidiary, Lakeland Brazil and (ii) allow the Borrowers to transfer funds to Lakeland Brazil for the specific purposes of settling arbitration claims, paying contractual expenses, and paying expenses incurred in connection with a transfer of the stock of Lakeland Brazil so long as, after giving effect to any such transfer, the amount Borrowers have as excess availability under the revolver loans, excluding the $15 million facility cap for this purpose only, calculated pursuant to and under the Senior Loan Agreement, is at least $3.0 million. Also, as part of the Second Amendment, Lender consented to the sale of the Companys corporate offices in Ronkonkoma, New York on the condition that the net cash proceeds from the sale in the amount of at least $450,000 are used by the Company to pay down the Borrowers obligations to Lender under the Senior Loan Agreement.                    
Argentina Loan [Member]                                  
Debt Instrument [Line Items]                                  
Debt Instrument, Interest Rate, Stated Percentage           34.00%         34.00% 34.00%          
Financial Covenants [Member]                                  
Debt Instrument [Line Items]                                  
Debt Instrument, Covenant Description           Fixed Charge Coverage Ratio. At the end of each fiscal quarter of Borrowers, Borrowers shall maintain a Fixed Charge Coverage Ratio of not less than 1.1 to 1.00 for the four quarter period then ending. Minimum Quarterly Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”). Borrowers shall achieve, on a rolling four quarter basis excluding the operations of the Borrower’s Brazilian subsidiary, EBITDA of not less than $4.1 million. Capital Expenditures. Borrowers shall not during any fiscal year make capital expenditures in an amount exceeding $1 million in the aggregate. Fixed Charge Coverage Ratio. At the end of each fiscal quarter of Borrowers, Borrowers shall maintain a Fixed Charge Coverage Ratio of not less than 1.1 to 1.00 for the four quarter period then ending. Minimum Quarterly Earnings Before Interest, Taxes, Depreciation and Amortization (“EBITDA”). Borrowers shall achieve, on a rolling four quarter basis excluding the operations of the Borrower’s Brazilian subsidiary, EBITDA of not less than $4.1 million. Capital Expenditures. Borrowers shall not during any fiscal year make capital expenditures in an amount exceeding $1 million in the aggregate.                    
Weifang Lakeland Safety Products Co Ltd And Weifang Rural Credit Cooperative Bank [Member]                                  
Debt Instrument [Line Items]                                  
Line of Credit Facility, Interest Rate at Period End   5.52%                              
Line Of Credit Facility Bench mark Interest Rate At Period End   120.00%                              
Long-term Line of Credit   $ 1,300,000       $ 1,300,000                      
Argentina Subsidiary [Member]                                  
Debt Instrument [Line Items]                                  
Secured Debt, Total           200,000                      
Foreign Subsidiaries [Member]                                  
Debt Instrument [Line Items]                                  
Net Investment Income           1,000,000                      
Borrowings In UK [Member]                                  
Debt Instrument [Line Items]                                  
Line of Credit Facility, Maximum Borrowing Capacity                               $ 1,900,000 £ 1,250,000
Notes Payable                               $ 600,000 £ 400,000
Subordinated Debt [Member] | Private Placement [Member]                                  
Debt Instrument [Line Items]                                  
Stock Issued During Period, Shares, Other | shares       1,110,000                          
Debt Related Commitment Fees and Debt Issuance Costs     $ 600,000 $ 1,600,000 $ 600,000                        
Bank of China Anqiu Branch [Member]                                  
Debt Instrument [Line Items]                                  
Long-term Line of Credit                         $ 800,000 ¥ 5,000,000      
Bank of China Anqiu Branch [Member] | China Subsidiary [Member]                                  
Debt Instrument [Line Items]                                  
Line of Credit Facility, Interest Rate at Period End                         7.00% 7.00%      
Long-term Line of Credit           $ 800,000           ¥ 5,000,000          
Senior Loan Agreement [Member]                                  
Debt Instrument [Line Items]                                  
Long-term Line of Credit         15,000,000                        
Subordinated Loan Agreement [Member] | Junior Lender [Member]                                  
Debt Instrument [Line Items]                                  
Subordinated Debt, Total         $ 3,500,000                        
Warrants To Purchase Common Stock | shares         566,015                        
Beneficial Ownership Percentage         9.58%                        
Proceeds from Issuance of Subordinated Long-term Debt         $ 3,500,000                        
Debt Instrument, Unamortized Discount         $ 2,200,000                        
China Loan [Member] | Weifang Lakeland Safety Products Co Ltd And Weifang Rural Credit Cooperative Bank [Member]                                  
Debt Instrument [Line Items]                                  
Debt Instrument, Interest Rate, Stated Percentage   4.60%                              
Revolving Credit Facility [Member]                                  
Debt Instrument [Line Items]                                  
Line of Credit Facility, Interest Rate Description           Initial rate was 6.25% and rate at October 31, 2015 was 4.25% per annum. Initial rate was 6.25% and rate at October 31, 2015 was 4.25% per annum.                    
Debt Instrument, Fee Amount           $ 225,000                      
Line of Credit Facility, Current Borrowing Capacity           $ 6,600,000                      
Eligible of Accounts Receivable Rate           85.00% 85.00%                    
Inventory In Transit           $ 1,000,000                      
Receivables And Inventory Maximum Cap Availability           $ 2,000,000                      
Debt Instrument, Fee Paid Description           0.50% per annum on unused portion of commitment A non-refundable collateral monitoring fee in the amount of $3,000 per month. 0.50% per annum on unused portion of commitment A non-refundable collateral monitoring fee in the amount of $3,000 per month.                    
Business Development Bank Of Canada [Member]                                  
Debt Instrument [Line Items]                                  
Short-term Debt, Refinanced, Amount           $ 1,100,000                      
Debt Instrument, Term           240 months 240 months                    
Debt Instrument, Interest Rate, Effective Percentage           6.45%         6.45% 6.45%          
Debt Instrument, Periodic Payment           $ 6,447 CAD 8,169                    
Long-term Debt, Current Maturities           50,000                      
Long-term Debt, Total           $ 797,339         CAD 1,042,362            
Senior Credit Facility [Member]                                  
Debt Instrument [Line Items]                                  
Line Of Credit Facility, Borrowing Base Calculation, Percentage Of Eligible Inventory           60.00% 60.00%                    
Line Of Credit Facility, Borrowing Base Calculation, Percentage Of Liquidation Value Of Inventory           85.00% 85.00%                    
Line Of Credit Facility Floor Interest Rate                             6.25%    
Senior Credit Facility [Member] | Amendment [Member]                                  
Debt Instrument [Line Items]                                  
Line Of Credit Facility Floor Interest Rate                             4.25%    
Subsequent Event [Member] | Borrowings In UK [Member]                                  
Debt Instrument [Line Items]                                  
Short-term Debt, Percentage Bearing Fixed Interest Rate               3.44%                  
Line Of Credit Facility Advance Rate 3.46%                                
Subsequent Event [Member] | Borrowings In UK [Member] | Amendment [Member]                                  
Debt Instrument [Line Items]                                  
Line of Credit Facility, Maximum Borrowing Capacity                 $ 2,300,000 £ 1,500,000              
Line Of Credit Facility Advance Rate 3.00%