RESTRUCTURING CHARGES

12 Months Ended

May. 29, 2015

Restructuring and Related Activities [Abstract]

RESTRUCTURING CHARGES

NOTE 15 – RESTRUCTURING CHARGES

During the third quarter of fiscal 2014, the Company took necessary steps to streamline its management structure. As a result, the Company reduced its workforce by approximately 2% and incurred gross restructuring charges of $1,026,980 consisting of severance costs related to the workforce reduction. As all of the restructuring activities were completed in the third quarter of fiscal 2014, the Company did not expect to recognize additional costs in future periods relating to these actions.

The activity in the restructuring accrual for the twelve month period ended May, 2015 is as follows:

Restructuring accrual – May 30, 2014	$	491,340
Cash payments		(442,074	)
Adjust Remaining Liability		(49,266	)
Restructuring accrual – May 29, 2015	$	-