INCOME TAXES (Tables)

12 Months Ended

Feb. 28, 2015

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The provision for income taxes is as follows:

	Period from February 10, 2015 through February 28, 2015
	(in thousands)
Current:
Federal	$	-
State		2
	$	2
Deferred:
Federal	$	-
State		-
	$	-
Provision for income taxes	$	2

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The following is a reconciliation of income taxes computed as the U.S. Federal statuary rate to the provision for income taxes:

Statuary Federal income tax rate	35.0	%
State taxes	-0.4	%
Permanent differences	-20.1	%
Change of valuation allowance	-15.0	%
Effective income tax rate	-0.5	%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The composition of the Company’s deferred tax assets and liabilities is as follows:

	Fiscal Year Ended
	February 28, 2015		March 1, 2014
	(in thousands)
Deferred tax assets:
Pension costs	$	2,244	$	2,759
Reserves not currently deductible for tax purposes		-		66
Stock-based compensation expense		182		-
Net operating loss carry forwards		75,421		79,145
Depreciation (Including Air Right)		2,413		7,193
AMT Credit		3,181		3,182
Accrued expenses		49		110
Other		46		82
Wind-down expenses		-		3,954
Lease claim		6,095		13,934
Total deferred tax assets	$	89,631	$	110,425
Valuation allowance		(89,483)		(59,868)
Deferred tax asset after valuation allowance	$	148	$	50,557
Deferred tax liabilities:
Intangibles	$	(139)	$	(156)
Write up of owned real estate		-		(50,401)
Other		(9)		-
Total deferred tax liabilities	$	(148)	$	(50,557)
Net deferred tax assets	$	-	$	-
Current deferred tax assets	$	-	$	-
Long term deferred tax assets		-		-
Total deferred tax assets	$	-	$	-