Commitments

9 Months Ended

Sep. 30, 2018

Commitments and Contingencies Disclosure [Abstract]

Note 8 – Commitments

Leases

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As of September 30, 2018, our corporate office located at 340 Madison Avenue, New York, New York has a lease obligation of approximately $3.0 million payable through March 31, 2025. The rent paid for this operating lease for the three and nine months ended September 30, 2018 was approximately $110,000 and $238,000, respectively.

Legal Proceedings -

In the normal course of business, we may become a party to routine legal proceedings. Based on available information and taking into account accruals where they have been established, management currently believes that any liabilities ultimately resulting from this routine litigation will not, individually or in the aggregate, have a material adverse effect on our consolidated financial position. Additionally, as discussed in Note 1 to our condensed consolidated financial statements, as of February 6, 2018, we no longer operate under the Plan that was approved in connection with the resolution of the Chapter 11 cases involving Syms and its subsidiaries