Restructuring (Tables) - Hman Group holdings Inc and subsidiaries
|
12 Months Ended |
Dec. 26, 2020 |
|---|
| Canadian Restructuring Plan |
|
| Restructuring Cost and Reserve [Line Items] |
|
| Summary of charges incurred for restructuring |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended
|
|
Year Ended
|
|
Year Ended
|
|
|
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December 26, 2020
|
|
December 28, 2019
|
|
December 29, 2018
|
|
Facility consolidation(1)
|
|
|
|
|
|
|
|
|
|
|
Inventory valuation adjustments
|
|
$
|
596
|
|
$
|
3,799
|
|
$
|
8,694
|
|
Labor expense
|
|
|
682
|
|
|
1,751
|
|
|
503
|
|
Consulting and legal fees
|
|
|
192
|
|
|
225
|
|
|
314
|
|
Other expense
|
|
|
1,118
|
|
|
2,126
|
|
|
116
|
|
Rent and related charges
|
|
|
1,535
|
|
|
584
|
|
|
—
|
|
Gain on sale of building
|
|
|
—
|
|
|
—
|
|
|
(6,104)
|
|
Severance
|
|
|
707
|
|
|
617
|
|
|
—
|
|
Exit of certain lines of business(2)
|
|
|
|
|
|
|
|
|
|
|
Inventory valuation adjustments
|
|
|
—
|
|
|
535
|
|
|
1,152
|
|
Gain on disposal of assets
|
|
|
—
|
|
|
(458)
|
|
|
837
|
|
Severance
|
|
|
—
|
|
|
—
|
|
|
2,749
|
|
Other expense
|
|
|
—
|
|
|
488
|
|
|
—
|
|
Total
|
|
$
|
4,830
|
|
$
|
9,667
|
|
$
|
8,261
|
|
(1)
|
|
Facility consolidation includes inventory valuation adjustments associated with SKU rationalization, labor expense related to organizing inventory and equipment in preparation for the facility consolidation, consulting and legal fees related to the project, and other expenses. The labor, consulting, and legal expenses were included in selling, general and administrative expense (“SG&A”) on the Consolidated Statement of Comprehensive Loss. The inventory valuation adjustments were included in cost of sales on the Consolidated Statement of Comprehensive Loss.
|
As part of the restructuring, the Company is exiting a manufacturing business line. Related charges included adjustments to write inventory down to net realizable value, asset impairment charges, and employee severance, which were included in cost of sales, other income and expense, and SG&A on the Consolidated Statement of Comprehensive Loss, respectively.
|
| Schedule of roll forward of restructuring reserves |
|
|
|
|
|
|
|
|
Severance and
|
|
|
|
related expense
|
|
Balance as of December 29, 2018
|
|
$
|
1,537
|
|
Restructuring Charges
|
|
|
617
|
|
Cash Paid
|
|
|
(1,033)
|
|
Balance as of December 28, 2019
|
|
$
|
1,121
|
|
Restructuring Charges
|
|
|
707
|
|
Cash Paid
|
|
|
(680)
|
|
Balance as of December 26, 2020
|
|
$
|
1,148
|
|
| United States Restructuring Plan |
|
| Restructuring Cost and Reserve [Line Items] |
|
| Summary of charges incurred for restructuring |
|
|
|
|
|
|
|
|
|
|
|
Year Ended
|
|
Year Ended
|
|
|
|
December 26, 2020
|
|
December 28, 2019
|
|
Management realignment & integration
|
|
|
|
|
|
|
|
Severance
|
|
$
|
886
|
|
$
|
3,820
|
|
Inventory valuation adjustments
|
|
$
|
—
|
|
|
5,707
|
|
Facility closures
|
|
|
|
|
|
|
|
Severance
|
|
|
903
|
|
|
—
|
|
Inventory valuation adjustments
|
|
|
1,568
|
|
|
—
|
|
Other
|
|
|
1,422
|
|
|
—
|
|
Total
|
|
$
|
4,779
|
|
$
|
9,527
|
|
| Schedule of roll forward of restructuring reserves |
|
|
|
|
|
|
|
|
Severance and
|
|
|
|
related expense
|
|
Balance as of December 29, 2018
|
|
$
|
—
|
|
Restructuring Charges
|
|
|
3,820
|
|
Cash Paid
|
|
|
(534)
|
|
Balance as of December 28, 2019
|
|
$
|
3,286
|
|
Restructuring Charges
|
|
|
1,789
|
|
Cash Paid
|
|
|
(3,746)
|
|
Balance as of December 26, 2020
|
|
$
|
1,329
|
|