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Subsequent Event
9 Months Ended
Nov. 24, 2012
Subsequent Events [Abstract]  
Subsequent Events

Note 14–Subsequent Event

 

During the month of December 2012, the Company sold its Fairfield, CT property, the building of which is 43,000 square feet, on an “as-is, where-is” basis. The lessor of the land exercised its option to terminate its leasehold interest with a payment of $5.5 million to the Company as agreed in Section 2(c) of the Revised Stipulation and Settlement Agreement by and Among the Debtors and the Lessor. The carrying value of this property as of November 24, 2012 has been adjusted to reflect the amount realized from this subsequent transaction.

 

During the month of December 2012, the Company entered into an agreement to lease its unoccupied space at its Elmsford, NY property. The carrying value of this property as of November 24, 2012 has been adjusted to reflect the amount realized from this subsequent transaction.

 

During the month of December 2012, the Company received a $0.9 million settlement on its Marietta, GA location. This was the result of the second and final payment regarding the partial condemnation of the property adjacent to the Marietta store in 2011. The financial statements as of November 24, 2012 have been adjusted to reflect the amount realized from this subsequent transaction.