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Note 14 - Restructuring and Other Charges, Net of Gains - Schedule of Restructuring Reserve (Details) - USD ($)
$ in Thousands
1 Months Ended 3 Months Ended 9 Months Ended
Aug. 01, 2022
Jul. 31, 2023
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2024
Mar. 31, 2023
Balance   $ 3,159     $ 3,159  
Expenses/(Gain)         503  
Gain on sale-leaseback transaction $ (1,800)   $ (656) $ (655) (1,966) $ (3,566)
Non-Cash         1,426  
Payments         (2,520)  
Receipts         1,599  
Balance     1,315   1,315  
Severance and other charges     (754) (470) 503 (2,662)
Payments         2,520  
Employee Severance and Other Charges (Income) [Member]            
Balance [1]   321     321  
Expenses/(Gain) [1]         226  
Non-Cash [1]         0  
Payments [1]         (384)  
Receipts [1]         0  
Balance [1]     163   163  
Severance and other charges     5 185 226 904
Payments [1]         384  
Sale-leaseback Transaction [Member]            
Balance [2]   2,838     2,838  
Expenses/(Gain) [2]         (1,966)  
Payments [2]         0  
Receipts [2]         0  
Balance [2]     872   872  
Payments [2]         0  
Flood [Member]            
Orleans, Vermont flood   2,200 (103) $ 0 2,243 $ 0
Balance   0     0  
Expenses/(Gain)         2,243  
Non-Cash         1,426  
Payments         (2,136)  
Receipts         1,599  
Balance     280   280  
Payments         2,136  
Flood [Member] | Inventory Write-downs and Overhead Manufacturing Costs [Member]            
Balance   0     0  
Expenses/(Gain)         1,426  
Non-Cash         1,426  
Payments         0  
Receipts         0  
Balance     0   0  
Payments         (0)  
Flood [Member] | Repair and Remediation Costs [Member]            
Balance [3]   0     0  
Expenses/(Gain) [3]         2,416  
Payments [3]         (2,136)  
Receipts [3]         0  
Balance [3]     280   280  
Payments [3]         2,136  
Flood [Member] | Insurance Recoveries and Grant Proceeds [Member]            
Balance [1]   $ 0     0  
Expenses/(Gain) [1]         (1,599)  
Receipts [1]         1,599  
Balance [1]     $ 0   $ 0  
[1] The Vermont Department of Economic Development awarded Ethan Allen a $0.5 million grant through its Business Emergency Gap Assistance Program. Additional insurance proceeds totaling $1.1 million were received during fiscal 2024 from existing insurance policies. All of these proceeds were used toward the cleanup and restoration efforts.
[2] In August 2022, we sold and subsequently leased back a retail design center and recognized a net gain of $2.0 million for the nine months ended March 31, 2024. The remaining deferred liability of $0.9 million as of March 31, 2024 is recorded within Other current liabilities on our consolidated balance sheet and will be recognized over the remaining life of the lease. Refer to Note 6, Leases, for further discussion on the sale-leaseback transaction.
[3] In July 2023, our wood furniture manufacturing operations located in Orleans, Vermont sustained damage from flooding of the nearby Barton River. In addition to losses related to wood furniture inventory parts and state-of-the-art manufacturing equipment, the flooding also resulted in a temporary work stoppage for many Vermont associates and a disruption and delay of shipments. Losses incurred from the disposal of damaged inventory, inoperable machinery equipment from water damage, facility cleanup, and restoration, was $2.2 million, net of insurance recoveries and grant proceeds. The remaining amount of repair and remediation costs to be paid as of March 31, 2024 is accrued for within Accounts payable and accrued expenses.