Commitments

6 Months Ended

Jun. 30, 2019

Commitments and Contingencies Disclosure [Abstract]

Note 8 – Commitments

Leases

–

The lease for our corporate office located at 340 Madison Avenue, New York, New York expires on June 30, 2025. Rent expense paid for this operating lease was approximately $

110,000

and $

219,000

for the three and six months ended June 30, 2019, respectively,

and $110,000 and $129,000 for the three and six months ended June 30, 2018,

respectively. The remaining lease obligation for our corporate office is approximately $

2.6

million.

Legal Proceedings -

In the normal course of business, we are 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 litigation we are currently involved in will not, individually or in the aggregate, have a material adverse effect on our consolidated financial position. Additionally, as discussed above in Note 1 to our condensed consolidated financial statements, as of February 2018, we no longer operate under the Plan approved in connection with the resolution of the chapter 11 cases involving Syms and its subsidiaries.