–

 

During fiscal years and Carousel manufactured and marketed infant and toddler bedding directly to consumers online from a facility in Douglasville, Georgia. During the Company's review for impairment of its long-lived asset groups and certain identifiable intangible asset groups as of management evaluated Carousel's history of operating and cash flow losses and concluded that such losses were likely to continue. The Company developed the fair value of each of Carousel's long-lived asset groups by using a combination of income, cost and market approaches. The result of this evaluation was management's determination that the carrying value of Carousel's long-lived asset group exceeded its fair value, which required the Company to impair Carousel's long-lived asset group to its fair value and to recognize a related loss from the impairment of Carousel's long-lived asset group during the fiscal year ended as follows (in thousands):

 

																		Impairment
		Amounts as of March 28, 2021																Loss
						Accumulated												Fiscal
		Gross				Depreciation				Carrying				Fair				Year
		Amount				or Amortization				Value				Value				2021
Property, plant and equipment
Vehicle		$	21			$	16			$	5			$	-			$	5
Leasehold improvements			5				4				1				-				1
Machinery and equipment			1,173				577				596				24				572
Total property, plant and equipment			1,199				597				602				24				578
Amortizable intangible assets:
Tradename			1,100				269				831				-				831
Developed technology			1,100				403				697				-				697
Non-compete covenants			360				264				96				-				96
Total amortizable intangible assets			2,560				936				1,624				-				1,624
Operating lease liabilities, current			32				-				32				-				32
Total long-lived assets		$	3,791			$	1,533			$	2,258			$	24			$	2,234

 

On the Company's Board of Directors (the “Board”) approved the closure of Carousel due to its high costs, declining sales and operating and cash flow losses, as well as management's determination that, due to post-COVID- competitive pressures in the infant, toddler and juvenile products segment within the consumer products industry, such losses were likely to continue. Accordingly, the operations of Carousel ceased on

 

During its fiscal year ending the Company expects to incur in costs associated with the termination and/or relocation of Carousel employees and contract termination costs in connection with the closure of Carousel ranging from to