VALUATION AND QUALIFYING ACCOUNTS

12 Months Ended

Mar. 02, 2013

Valuation and Qualifying Accounts [Abstract]

Valuation and Qualifying Accounts

SCHEDULE II

TRINITY PLACE HOLDINGS INC.

Valuation and qualifying accounts

Fiscal years ended March 2, 2013, February 25, 2012 and February 26, 2011

			Additions
	Balance at beginning of period		Charged against revenues or to costs & expenses		Charged to other accounts		Deductions			Balance at end of period
Reserve for inventory obsolescence (1):
Fiscal 2010		4,401,313		7,428,200		-		(1,222,080	)		10,607,433
Fiscal 2011 (2)		10,607,433		1,780,388		-		(12,387,821	)		-
Deferred tax valuation allowance:
Fiscal 2010		346,000		-		1,154,000					1,500,000
Fiscal 2011		1,500,000		-		83,617,000		-			85,117,000
Fiscal 2012		85,117,000		-		-		(1,441,000	)		83,676,000

(1) Reflects adjustments of obsolete or out-of-season merchandise inventories to realizable value. Additions represent increases to the reserve and deductions represent decreases to the reserve based on quarterly assessments of the reserve.

(2) Deductions for Fiscal 2011 reflects the full liquidation of inventory.

(3) The change for Fiscal 2011 reflects a full valuation allowance against the Company’s deferred tax assets.