Note 11 - Accrued Expenses

12 Months Ended

Jun. 24, 2012

Accounts Payable and Accrued Liabilities Disclosure [Text Block]

11. Accrued Expenses

Accrued expenses consist of the following:

	June 24, 2012		June 26, 2011
Payroll and fringe benefit costs	$	9,026	$	11,119
Utilities		2,540		2,237
Interest		398		1,900
Property taxes		842		885
Retiree medical liability		138		202
Derivative instruments		—		2
Asset retirement obligation		125		—
Other		1,333		1,150
Total accrued expenses	$	14,402	$	17,495

The Company has recorded an asset retirement obligation associated with the reclamation and removal costs related to a leased location in its Polyester segment.  Other accruals consist primarily of sales taxes, workers compensation and other employee related claims, marketing expenses, freight expenses, rent and other non-income related taxes.  The decreased accrual for payroll and fringe benefits is primarily due to the timing associated with payment of awards previously earned and the amounts expected to be earned under variable compensation programs.  The decreased accrual for interest is due to the Company’s recent debt refinancing as discussed below in “Footnote 12. Long-Term Debt”.