Other Information
−Removed: Costs Associated with Cost Reduction Program.
−Removed: In February 2020, the Company implemented a significant cost reduction program designed to streamline operations, maximize productivity and drive profitability.
−Removed: Certain elements of this plan have recently been implemented, while other actions are planned for Fiscal 2021, which begins in May 2020.
−Removed: The Company anticipates meaningful annualized cost savings from this program, the majority of which is expected to be realized beginning in Fiscal 2021.
−Removed: As a result of the personnel and related elements of this program, the Company expects to recognize a restructuring charge of $10 million to $15 million during the fourth quarter of Fiscal 2020.
−Removed: This Item 5 contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.
−Removed: These statements involve risks and uncertainties that could cause actual results to differ materially from expectations, and may relate to, among other things, statements regarding the Company’s current expectations and beliefs as to the timing and scope of the reduction in force plan and the amount and timing of the related costs.
−Removed: These forward-looking statements speak only as of the date they are made, and the Company does not undertake any obligation to revise or update such statements to reflect future events or circumstances, except as required by law.
−Removed: Limited Waiver Letter, dated March 2, 2020, related to the FILO Loan EBITDA Condition contained in the Company’s Credit Agreement, dated as of August 3, 2015 (as amended by that certain First Amendment, dated as of February 27, 2017, and by that certain Second Amendment, dated as of March 1, 2019).
+Added: Cooperation Agreement, dated July 20, 2020, entered between the Company and Outerbridge Capital Management, LLC, which currently owns approximately 13.5% of the Company's outstanding shares, filed as Exhibit 10.1 to Report on Form 8-K filed with the SEC on July 21, 2020, and incorporated herein by reference.
Certification by the Chief Executive Officer pursuant to Rule 13a-14(a)/15(d)-14(a) under the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
4 unchanged sentences
Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 .
−Removed: XBRL Instance Document
−Removed: XBRL Taxonomy Extension Schema Document
−Removed: XBRL Taxonomy Extension Calculation Linkbase Document
−Removed: XBRL Taxonomy Extension Definition Linkbase Document
−Removed: XBRL Taxonomy Extension Label Linkbase Document
−Removed: XBRL Taxonomy Extension Presentation Linkbase Document
+Added: 101.INS XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.
+Added: 101.SCH XBRL Taxonomy Extension Schema Document
+Added: 101.CAL XBRL Taxonomy Extension Calculation Linkbase Document
+Added: 101.DEF XBRL Taxonomy Extension Definition Linkbase Document
+Added: 101.LAB XBRL Taxonomy Extension Label Linkbase Document
+Added: 101.PRE XBRL Taxonomy Extension Presentation Linkbase Document
+Added: 104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
6 unchanged sentences
(principal accounting officer)
−Removed: March 3, 2020
+Added: September 3, 2020
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.