This excerpt taken from the LDG 8-K filed Feb 28, 2007.
Asset Impairment Charge
Approximately $6.3 million of the $7.9 million reported for the provision for store closures and asset impairments in the fourth quarter was the charge for the asset impairment related to the Companys planned disposition of 31 stores during the fiscal year ending January 31, 2008. Additional costs associated with closing the 31 stores will be recorded as incurred. More information is available under Management Outlook that begins on page 5.
Beginning in the first quarter of Fiscal 2008, the 23 stores located in Colorado, Oregon and Washington will be classified as discontinued operations in accordance with Statement of Financial Accounting Standards No. 144 (FAS 144), Accounting for the Impairment or Disposal of Long-Lived Assets. An additional table is attached to this news release that provides Fiscal 2007 quarterly results under the discontinued operations presentation.
Eight of the 31 stores are located in California and will continue to be classified as continuing operations in Fiscal 2008.