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Note 8 - Restructuring Charges
12 Months Ended
Feb. 27, 2022
Notes to Financial Statements  
Restructuring and Related Activities Disclosure [Text Block]

8.

RESTRUCTURING CHARGES

 

The Company recorded restructuring charges of $259, $1,570 and $0 in the 2022, 2021 and 2020 fiscal years, respectively, related to the closure of the Company’s Park Aerospace Technologies Asia PTE, LTD facility located in Singapore.

 

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

 

   

Accrual
February
28,

2021

   

Current

Period

Charges

   

Cash

Payments

   

Non-Cash

Charges

   

Accrual
February 27,

2022

   

Total

Expense

Accrued to

Date

 

Facility lease costs

  $ 252     $ (194 )   $ (82 )   $ 24     $ -     $ 252  

Asset impairment

    -       -       -       -       -       1,318  

Asset removal

    -       381       (381 )     -       -       154  

Other

    -       72       (72 )     -       -       43  

Total restructuring charges

  $ 252     $ 259     $ (535 )   $ 24     $ -     $ 1,767