Note 8 - Restructuring Charges

12 Months Ended

Feb. 25, 2018

Restructuring and Related Activities Disclosure [Text Block]

8 .	restructuring charges

During the

2018

fiscal year, the Company consolidated its Nelco Products, Inc. Business Unit located in Fullerton, California and its Neltec, Inc. Business Unit located in Tempe, Arizona and recorded restructuring charges of

$4,429

in the

2018

fiscal year related to the consolidation. The Company estimates the remaining pre-tax charge in connection with the consolidation to be approximately

$1,010,

which the Company expects to incur primarily during the fiscal year ending

February 28, 2021.

The following table sets forth the charges and accruals related to the consolidation:

	Accrued February 26, 2017		Current Period Expense		Cash Payments			Non-Cash Charges			Accrual February 25, 2018			Total Expense For 52 Weeks Ended February 25, 2018		Total Expected Costs
Facility Lease Costs	$	-	$	2,749	$	(511	)	$	-		$	2,238			2,749	$	2,749
Severance Costs		-		1,081		(1,081	)		-			-			1,081		1,081
Equipment Removal		-		-		-			-			-			-		700
Other		-		599		(595	)		(67	)		(63	)		599		970
Total Restructuring Plan	$	-	$	4,429	$	(2,187	)	$	(67	)	$	2,175		$	4,429	$	5,500

The Company recorded additional restructuring charges of

$447

and

$313

in the

2018

and

2017

fiscal years, respectively, related to the closure in the

2009

fiscal year of the Company’s New England Laminates Co., Inc. business unit located in Newburgh, New York. The New England Laminates Co., Inc. building in Newburgh, New York is held for sale. In the

2004

fiscal year, the Company reduced the book value of the building to

zero

, and the Company intends to sell it during the

2019

fiscal year.

The Company recorded additional restructuring charges of

$146

and

in the

2018

and

2017

fiscal years, respectively, related to the closure in the

2012

fiscal year of the Company’s Park Advanced Composite Materials, Inc. business unit located in Waterbury, Connecticut.