Note 10 - Plant Restructuring

6 Months Ended

Sep. 26, 2020

Notes to Financial Statements

Restructuring and Related Activities Disclosure [Text Block]

10. Plant Restructuring

The following table summarizes the rollforward of restructuring charges and related asset impairment charges recorded and the accruals established (In thousands):

	Restructuring Payable
	Severance			Other Costs			Total
Balance March 31, 2020	$	202		$	-		$	202
First quarter charge		219			44			263
Second quarter charge		8			16			24
Cash payments/write offs		(399	)		(60	)		(459	)
Balance September 26, 2020	$	30		$	-		$	30

	Severance			Other Costs			Total
Balance March 31, 2019	$	225		$	1		$	226
First quarter charge		586			4,220			4,806
Second quarter charge		386			760			1,146
Cash payments/write offs		(836	)		(4,981	)		(5,817	)
Balance September 28, 2019	$	361		$	-		$	361

During the quarter ended September 26, 2020, the Company recorded a restructuring charge of $24,000 related to closed plants. During the quarter ended June 27, 2020, the Company recorded a restructuring charge of $263,000 related to the closing of plants in the Northwest, of which $219,000 was related

to severance and $44,000 was for lease impairments.

During the quarter ended September 28, 2019 the Company recorded a restructuring charge of $1,146,000 related to the closing of plants in the Midwest and Northwest of which $2,230,000 was for accelerated amortization of right-of-use operating lease assets, $405,000 was mostly related to equipment moves and $386,000 was related to severance. The Company also recorded a credit of $1,875,000 for the reduced lease liability of previously impaired leases. During the quarter ended June 29, 2019, the Company recorded a restructuring charge of $4,806,000 related to the closing of plants in the Midwest and Northwest of which $2,245,000 was for accelerated amortization of right-of-use operating lease assets, $1,975,000 was mostly related to equipment moves and $586,000 was related to severance.