Note 6 – Accounts and Other Receivables, Net

3 Months Ended

Jun. 26, 2011

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

NOTE F – ACCOUNTS AND OTHER RECEIVABLES, NET

Accounts and other receivables, net, consist of the following (in thousands):

	June 26,		March 27,
	2011		2011
Branded product sales	$	4,905	$	3,950
Franchise and license royalties		2,503		1,831
Other		342		401
		7,750		6,182
Less: allowance for doubtful accounts		52		62
Accounts and other receivables, net	$	7,698	$	6,120

Accounts receivable are due within 30 days and are stated at amounts due from Branded Product Program customers, franchisees, retail licensees and product manufacturers, net of an allowance for doubtful accounts. Accounts that are outstanding longer than the contractual payment terms are considered past due. The Company does not recognize franchise and license royalties that are not deemed to be realizable. The Company individually reviews each past due account and determines its allowance for doubtful accounts by considering a number of factors, including the length of time accounts receivable are past due, the Company’s previous loss history, the customer’s current and expected future ability to pay its obligation to the Company, the condition of the general economy and the industry as a whole.  Based on management’s assessment, the Company provides for estimated uncollectable amounts through a charge to earnings. After the Company has used reasonable collection efforts it writes off accounts receivable through a charge to the allowance for doubtful accounts.

Changes in the Company’s allowance for doubtful accounts for the thirteen-week period ended June 26, 2011 and the fiscal year ended March 27, 2011 are as follows (in thousands):

	June 26, 2011			March 27, 2011
Beginning balance	$	62		$	415
Bad debt expense		-			56
Uncollectible marketing fund contributions		-			12
Accounts written off		(10	)		(421	)
Ending balance	$	52		$	62