LCUT » Topics » Section 4.05 Properties

This excerpt taken from the LCUT 10-K filed Mar 15, 2007.

Item 2. Properties

The following table describes the facilities at which the Company operated its business at December 31, 2006:

Description
Location
Size
(Square Feet)

Owned/
Leased

Main warehouse and distribution facility Robbinsville, New Jersey 698,000  Leased

Syratech warehouse and distribution facility
Mira Loma, California 424,050  Leased

Pfaltzgraff warehouse and distribution facility
York, Pennsylvania 312,900  Leased

Kamenstein warehouse and distribution facility
Winchendon, Massachusetts 169,000  Owned

Pfaltzgraff warehouse and distribution facility
York, Pennsylvania 160,000  Leased

Syratech office, showroom and warehouse facility
East Boston, Massachusetts 118,000  Leased

Syratech manufacturing facility
San German, Puerto Rico 54,772  Leased

Corporate headquarters
Westbury, New York 47,000  Owned

Syratech showroom
New York, New York 26,000  Leased

Pfaltzgraff offices
York, Pennsylvania 18,945  Leased

Syratech offices
Guangdong, China 18,013  Leased

Pfaltzgraff design center
York, Pennsylvania 15,298  Leased

Pfaltzgraff call center
York, Pennsylvania 14,479  Leased

Syratech showroom
Atlanta, Georgia 11,085  Leased

Syratech office
Shanghai, China 10,536  Leased

Showroom
Bentonville, Arkansas 10,443  Leased

Pfaltzgraff office
York, Pennsylvania 10,199  Leased

Pfaltzgraff information technology office
York, Pennsylvania 9,000  Leased

Tabletop showroom
New York, New York 6,960  Leased

Kamenstein office
Elmsford, New York 6,200  Leased

Syratech showroom
Dallas, Texas 5,350  Leased

Syratech office
Tianjin, China 4,516  Leased

Sales office
Chicago, Illinois 3,584  Leased

Pfaltzgraff showroom
New York, New York 1,780  Leased

Syratech warehouse facility
Guangdong, China 1,700  Leased

Syratech office
Hong Kong, China 709  Leased

Syratech showroom
Tianjin, China 108  Leased

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In addition to the properties listed above, at December 31, 2006 the Company’s direct-to-consumer segment leased 83 stores in retail outlet centers located in 25 states throughout the United States. The square footage of the stores range from approximately 2,200 square feet to 16,500 square feet. The terms of these leases ranged from month-to-month to 6 years. 

In May 2006, the Company entered into a 15-year lease agreement for approximately 114,000 square feet of office and warehouse space located in The Business and Research Center at Garden City located at 1000 Stewart Avenue in Garden City, New York. The location will serve as the Company’s new corporate headquarters. The Company occupied the new space in January 2007.

In July 2006, the Company entered into a 15-year lease agreement for approximately 60,000 square feet of office space located in the Greenway Tech Centre at 540 South George Street in York, Pennsylvania. The location will serve as the headquarters for the Company’s direct-to-consumer businesses and will also serve as the Company’s principal design center for ceramic dinnerware and other ceramic products. Occupancy began in January 2007. The new office space replaces approximately 67,000 square feet of office space that the Company leased in five separate locations in the York, Pennsylvania area.

This excerpt taken from the LCUT 8-K filed Nov 6, 2006.

   Section 4.05   Properties

    (a)        Each of the Borrower and each Subsidiary has good title to, or valid leasehold interests in, all its real and personal property material to its business, except for minor defects in title that do not interfere with its ability to conduct its business as currently conducted or to utilize such properties for their intended purposes.

    (b)        Each of the Borrower and each Subsidiary owns, or is entitled to use, all Intellectual Property material to its business, and to the knowledge of the Borrower the use thereof by the Borrower and the Subsidiaries does not infringe upon the rights of any other Person, except for any such

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infringements that, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect.

EXCERPTS ON THIS PAGE:

10-K
Mar 15, 2007
8-K
Nov 6, 2006
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