Subsequent Events

6 Months Ended

Jan. 01, 2012

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

On January 18, 2012, the Company received an additional option payment of $0.5 million from Trumark in connection with the proposed sale of the First Property (see Note 2, “Long-Lived Assets”), bringing the total option payments received from Trumark to $1.5 million.

On January 25, 2012, Company entered into new agreement with Trumark, under which it granted Trumark an option to purchase the remaining portion of the Company's corporate campus (Second Property).  Under the new agreement, Trumark will have until December 28, 2012 to exercise the option to purchase the Second Property for a total purchase price of $24.5 million, and in the meantime, Trumark will make certain payments to the Company in order to keep the option in effect. If Trumark exercises the option, the closing on the Second Property transaction will occur within thirty days after such exercise.  However, Trumark has the right to extend the closing by up to six months to meet certain city regulatory requirements. The assets associated with the Second Property transaction were considered to be assets held for use and were included in property and equipment, net on the condensed consolidated balance sheet as of January 1, 2012.