Restructuring expenses

12 Months Ended

Jul. 01, 2023

Restructuring expenses

Restructuring expenses

17. Restructuring expenses

During fiscal 2023, the Company incurred restructuring expenses primarily related to the planned closure of a distribution center intended to reduce future operating expenses. The following table presents the activity incurred during fiscal 2023:

			Facility		Asset
	Severance		Exit Costs		Impairments		Total
	(Thousands)
Fiscal 2023 restructuring expenses	$	16,060	$	504	$	791	$	17,355
Cash payments		(553)		—		—		(553)
Non-cash amounts		—		—		(791)		(791)
Balance at July 1, 2023	$	15,507	$	504	$	—	$	16,011

Severance expense recorded in fiscal 2023 related primarily to the planned reduction of over 200 employees associated with the planned closure of a distribution center. Facility exit costs primarily consist of liabilities for the closure of facilities. Asset impairments relate to the impairment of property, plant and equipment as a result of the underlying restructuring actions taken in fiscal 2023. The Company expects the majority of the remaining severance and facility exit costs to be paid by the end of fiscal 2024.