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Bankruptcy Accounting (Tables)
12 Months Ended
Jul. 02, 2022
Reorganizations [Abstract]  
Schedule of Restructuring and Abandonment Charges

Restructuring, impairment and abandonment charges are as follows (in thousands):

 

 

Fiscal Years Ended

 

 

 

July 2,

 

 

June 30,

 

 

June 30,

 

 

 

2022

 

 

2021

 

 

2020

 

 

 

 

 

 

 

 

 

 

 

Restructuring costs:

 

 

 

 

 

 

 

 

 

Severance and compensation related costs (adjustments)

 

$

499

 

 

$

3,557

 

 

$

3,122

 

Professional fees

 

 

 

 

 

 

 

 

5,212

 

Total restructuring costs

 

$

499

 

 

$

3,557

 

 

$

8,334

 

 

 

 

 

 

 

 

 

 

 

Impairment costs:

 

 

 

 

 

 

 

 

 

Corporate long-lived assets

 

$

1,963

 

 

$

 

 

$

 

Intangible asset

 

 

 

 

 

1,639

 

 

 

 

Operating lease right-of-use assets

 

 

 

 

 

 

 

 

51,626

 

Distribution center long-lived assets

 

 

 

 

 

 

 

 

16,794

 

Store long-lived assets

 

 

 

 

 

 

 

 

11,656

 

Total impairment costs

 

$

1,963

 

 

$

1,639

 

 

$

80,076

 

 

 

 

 

 

 

 

 

 

 

Abandonment costs:

 

 

 

 

 

 

 

 

 

Accelerated recognition of operating lease right-of-use assets

 

$

 

 

$

5,638

 

 

$

25,082

 

Total abandonment costs

 

$

 

 

$

5,638

 

 

$

25,082

 

 

 

 

 

 

 

 

 

 

 

Total restructuring, impairment and abandonment costs

 

$

2,462

 

 

$

10,834

 

 

$

113,492

 

Schedule of Reorganization Items

Reorganization items included in our consolidated statement of operations represent amounts resulting from the Chapter 11 Cases are as follows (in thousands):

 

 

Fiscal Years Ended

 

 

 

July 2,

 

 

June 30,

 

 

June 30,

 

 

 

2022

 

 

2021

 

 

2020

 

Reorganization items, net:

 

 

 

 

 

 

 

 

 

Professional and legal fees

 

$

367

 

 

$

34,579

 

 

$

3,619

 

Claims related costs

 

 

594

 

 

 

1,302

 

 

 

 

Gains on lease termination, net of estimated claims

 

 

 

 

 

(66,247

)

 

 

 

Gain on sale-leaseback

 

 

 

 

 

(49,639

)

 

 

 

Rights Offering and Backstop Agreement

 

 

 

 

 

19,990

 

 

 

 

Total reorganization items, net

 

$

961

 

 

$

(60,015

)

 

$

3,619