Subsequent Events

12 Months Ended

Mar. 03, 2012

Subsequent Events

13. Subsequent Events

The Company announced on March 30, 2012 that GCPI SR LLC (“GCPI”) made a $10,000,000 strategic investment in the Running Specialty business. The Company will remain majority owner with a 51% ownership. This strategic investment pairs the Company with GCPI, an equity investment partnership that has a proven track record of successfully executing specialty retail rollups. As part of the transaction, GCPI issued to the Company a $4,000,000 related-party promissory note which calls for interest payments based in part on a fixed rate and in part on participation in the value of other investments held by GCPI.