Note 9 - Plant Restructuring

9 Months Ended

Dec. 28, 2019

Notes to Financial Statements

Restructuring and Related Activities Disclosure [Text Block]

9 . Plant Restructuring

The following table summarizes the rollforward of continuing restructuring charges and related asset impairment charges recorded and the accruals established:

	Restructuring Payable
	Severance			Other Costs			Total
	(In thousands)
Balance March 31, 2019	$	225		$	1		$	226
First quarter charge		586			4,220			4,806
Second quarter charge		386			760			1,146
Third quarter charge		28			765			793
Cash payments/write offs		(1,145	)		(5,746	)		(6,891	)
Balance December 28, 2019	$	80		$	-		$	80

	Severance			Other Costs			Total
	(In thousands)
Balance March 31, 2018	$	-		$	-		$	-
First quarter charge		110			(72	)		38
Second quarter charge		845			-			845
Third quarter charge		378			1,018			1,396
Cash payments/write offs		(976	)		72			(904	)
Balance December 29, 2018	$	357		$	1,018		$	1,375

During the

nine

months ended

December 28, 2019

the Company recorded a restructuring charge of

$6,745,000

related to the closing of plants in the Midwest and Northwest of which

$5,266,000

was for accelerated amortization of right-of-use operating lease assets,

$2,354,000

was mostly related to equipment moves and

$1,000,000

was related to severance. The Company also recorded a credit of

$1,875,000

for the reduced lease liability of previously impaired leases.

During the

nine

months ended

December 29, 2018,

the Company recorded a restructuring charge of

$2,279,000

related to the closing and sale of plants in the East and Northwest of which

$1,333,000

was related to severance cost, and

$946,000

which was related to other costs (mostly equipment moves).