Tuesday Morning (TUEMQ) 10-K 13 Sep 21 2021 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Jun. 30, 2021	Sep. 07, 2021	Dec. 31, 2020
Cover [Abstract]
Entity Registrant Name	TUESDAY MORNING CORP/DE
Entity Central Index Key	0000878726
Document Type	10-K
Document Period End Date	Jun. 30, 2021
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Trading Symbol	TUEM
Title of 12(b) Security	Common Stock, $0.01 par value per share
Security Exchange Name	NASDAQ
Entity Incorporation, State or Country Code	DE
Current Fiscal Year End Date	--06-30
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Filer Category	Accelerated Filer
Entity File Number	001-40432
Entity Tax Identification Number	75-2398532
Entity Address, Address Line One	6250 LBJ Freeway
Entity Address, City or Town	Dallas
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75240
City Area Code	972
Local Phone Number	387-3562
Entity Emerging Growth Company	false
Entity Small Business	true
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		85,934,779
Entity Public Float			$ 78,942,980
Document Annual Report	true
Document Transition Report	false
Entity Bankruptcy Proceedings, Reporting Current	true
Documents Incorporated by Reference	Documents Incorporated By Reference: Portions of the registrant’s definitive proxy statement to be filed in connection with 2021 Annual Meeting of Stockholders are incorporated by reference into Part III of this Form 10-K.

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Current assets:
Cash and cash equivalents	$ 6,534	$ 46,676
Restricted cash	22,321
Inventories	145,075	114,905
Prepaid expenses	5,486	6,353
Other current assets	3,385	7,210
Total Current Assets	182,801	175,144
Property and equipment, net	37,784	68,635
Operating lease right of-use assets	193,244	258,433
Deferred financing costs	2,459
Other assets	1,596	3,178
Total Assets	417,884	505,390
Current liabilities:
Debtor-in-possession financing		100
Accounts payable	45,930	5,514
Accrued liabilities	46,454	33,942
Operating lease liabilities	54,632	0
Total Current Liabilities	147,016	39,556
Operating lease liabilities — non-current	156,240	0
Borrowings under revolving credit facility	12,000
Long term debt (see Note 3 for amounts due to related parties)	26,374
Asset retirement obligation — non-current	1,021	1,213
Other liabilities — non-current	3,432	1,347
Total Non-Current Liabilities	346,083	42,116
Liabilities subject to compromise		456,339
Total Liabilities	346,083	498,455
Commitments and contingencies
Stockholders’ equity
Preferred stock, par value $0.01 per share, authorized 10,000,000 shares; none issued or outstanding
Common stock, par value $0.01 per share, authorized 200,000,000 shares at June 30, 2021 and authorized 100,000,000 shares at June 30, 2020; 87,988,233 shares issued and 86,204,572 shares outstanding at June 30, 2021 and 49,124,313 shares issued and 47,340,652 shares outstanding at June 30, 2020	862	455
Additional paid-in capital	305,498	244,021
Retained deficit	(227,747)	(230,729)
Less: 1,783,661 common shares in treasury, at cost, at June 30, 2021 and at June 30, 2020, respectively	(6,812)	(6,812)
Total Stockholders’ Equity	71,801	6,935
Total Liabilities and Stockholders’ Equity	$ 417,884	$ 505,390

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2021	Jun. 30, 2020
Stockholders’ equity
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	200,000,000	100,000,000
Common stock, shares issued	87,988,233	49,124,313
Common stock, shares outstanding	86,204,572	47,340,652
Treasury stock, shares	1,783,661	1,783,661

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Net sales	$ 690,790,000	$ 874,895,000	$ 1,007,246,000
Cost of sales	484,788,000	590,025,000	654,931,000
Gross margin	206,002,000	284,870,000	352,315,000
Selling, general and administrative expenses	244,155,000	330,572,000	362,840,000
Restructuring, impairment, and abandonment charges	10,834,000	113,492,000	0
Operating loss before interest, reorganization and other income/(expense)	(48,987,000)	(159,194,000)	(10,525,000)
Other income/(expense):
Interest expense	(8,169,000)	(3,845,000)	(2,461,000)
Reorganization items, net	60,015,000	(3,619,000)	0
Other income, net	414,000	551,000	792,000
Earnings/(loss) before income taxes	3,273,000	(166,107,000)	(12,194,000)
Income tax provision	291,000	221,000	246,000
Net earnings/ (loss)	$ 2,982,000	$ (166,328,000)	$ (12,440,000)
Net earnings/(loss) per common share:
Basic	$ 0.05	$ (3.68)	$ (0.28)
Diluted	$ 0.05	$ (3.68)	$ (0.28)
Weighted average number of common shares:
Basic	60,584	45,208	44,719
Diluted	61,689	45,208	44,719

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Rights Offering	Cumulative Effect Period of Adoption Adjustment	Common Stock	Common StockRights Offering	Additional Paid-In Capital	Additional Paid-In CapitalRights Offering	Retained Earnings (Deficit)	Retained Earnings (Deficit)Cumulative Effect Period of Adoption Adjustment	Treasury Stock
Balance at Jun. 30, 2018	$ 180,254			$ 469		$ 237,957		$ (51,360)		$ (6,812)
Balance (in shares) at Jun. 30, 2018				45,865,000
Net earnings (loss)	(12,440)							(12,440)
Shares issued or canceled in connection with employee stock incentive plans and related tax effect	1			$ (4)		5
Shares issued or canceled in connection with employee stock incentive plans and related tax effect (in shares)				815,000
Shares issued in connection with exercises of employee stock options	6					6
Shares issued in connection with exercises of employee stock options (in shares)				3,000
Share-based compensation expense	3,488					3,488
Balance at Jun. 30, 2019	171,309		$ (601)	$ 465		241,456		(63,800)	$ (601)	(6,812)
Balance (in shares) at Jun. 30, 2019				46,683,000
Net earnings (loss)	(166,328)							(166,328)
Shares issued in connection with exercises of employee stock options				$ (10)		10
Shares issued in connection with exercises of employee stock options (in shares)				658,000
Share-based compensation expense	2,555					2,555
Balance at Jun. 30, 2020	$ 6,935			$ 455		244,021		(230,729)		(6,812)
Balance (in shares) at Jun. 30, 2020	47,340,652			47,341,000
Net earnings (loss)	$ 2,982							2,982
Shares issued in connection with a rights offering		$ 59,959			$ 382		$ 59,577
Shares issued in connection with a rights offering (in shares)					38,182,000
Shares issued or canceled in connection with employee stock incentive plans and related tax effect	74			$ 25		49
Shares issued or canceled in connection with employee stock incentive plans and related tax effect (in shares)				682,000
Share-based compensation expense	1,851					1,851
Balance at Jun. 30, 2021	$ 71,801			$ 862		$ 305,498		$ (227,747)		$ (6,812)
Balance (in shares) at Jun. 30, 2021	86,204,572			86,205,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net earnings/(loss)	$ 2,982	$ (166,328)	$ (12,440)
Adjustments to reconcile net earnings/(loss) to net cash provided by/(used in) operating activities:
Depreciation and amortization	15,412	27,019	26,127
Loss on impairment and abandonment of assets	5,638	105,158
Intangible impairment charge	1,639
Amortization of financing costs and interest expense	7,177	1,606	276
Loss on disposal of assets	(1,389)	46	7
Gain on sale-leaseback transaction	(49,639)
Stock-based compensation	2,054	2,720	3,536
Rights offering and Backstop agreement	19,990
Gain on lease terminations	(93,278)
Deferred income taxes	24	311	307
Construction allowances from landlords	451	1,312	1,491
Change in operating assets and liabilities:
Inventories	(30,114)	122,825	(3,578)
Prepaid and other current assets	323	(2,547)	483
Lease assets and liabilities	(7,941)	2,941
Accounts payable	(43,051)	2,726	(873)
Accrued liabilities	10,082	(3,105)	4,954
Deferred rent			(823)
Other liabilities—non-current	1,585	(814)	100
Net cash (used in)/provided by operating activities	(158,055)	93,870	19,567
Cash flows from investing activities:
Capital expenditures	(3,783)	(15,825)	(16,044)
Purchase of intellectual property		(27)	(299)
Proceeds from sale-leaseback transaction	68,566
Proceeds from sales of assets	1,897	1,950	31
Net cash provided by/(used in) investing activities	66,680	(13,902)	(16,312)
Cash flows from financing activities:
Proceeds under revolving credit facility	811,031	308,506	229,190
Repayments under revolving credit facility	(799,131)	(343,056)	(233,020)
Change in cash overdraft		(4,996)	3,213
Proceeds from term loan	25,000
Proceeds from Rights Offering	40,000
Proceeds from the issuance of common stock	45		8
Payments on finance leases	(217)	(224)	(162)
Payments of financing fees	(3,174)	(4,917)	(599)
Net cash provided by/(used in) financing activities	73,554	(44,687)	(1,370)
Net increase-(decrease) in cash, cash equivalents and restricted cash	(17,821)	35,281	1,885
Cash, cash equivalents and restricted cash, beginning of period	46,676	11,395	9,510
Cash, cash equivalents and restricted cash, end of period	28,855	46,676	11,395
Supplemental cash flow information:
Interest paid	2,623	2,141	2,140
Income taxes paid/(refunded)	$ 478	$ (104)	212
Finance/capital lease obligations incurred			$ 253

Nature of Operations and Summar

Nature of Operations and Summary of Significant Accounting Policies	12 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Nature of Operations and Summary of Significant Accounting Policies	1. NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations and Other General Principles Throughout these notes, Tuesday Morning Corporation is referred to as “Tuesday Morning,” “we” or “the Company”. Tuesday Morning is a leading off-price retailer, specializing in name-brand, high-quality products for the home, including upscale textiles, furnishings, housewares, gourmet food, toys and seasonal décor at prices generally below those charged by boutique, specialty and department stores, catalogs and on‑line retailers in the United States. We operated 490 discount retail stores in 40 states as of June 30, 2021 (“fiscal 2021”). We operated 685 and 714 discount retail stores at June 30, 2020 (“fiscal 2020”) and 2019 (“fiscal 2019”), respectively. Our customer is a savvy shopper with discerning taste for quality at a value. Our strong value proposition has established a loyal customer base, who we engage regularly with social media, email, direct mail and digital media Listing During the pendency of our bankruptcy proceedings, the Company’s common stock was delisted by the Nasdaq Stock Market, LLC (“Nasdaq”) and began trading on the OTC Pink marketplace under the symbol “TUESQ”. In January 2021, following our emergence from bankruptcy, the Company’s common stock began trading on the OTCQX market under the ticker symbol “TUEM.” On May 24, 2021, Nasdaq approved our application for the relisting of the Company's common stock on the Nasdaq Capital Market. The Company's common stock was relisted and commenced trading on the Nasdaq Capital Market at the opening of the market on Tuesday, May 25, 2021, under the ticker symbol "TUEM." COVID-19 Pandemic The COVID-19 pandemic had an adverse effect on our business operations, store traffic, employee availability, financial conditions, results of operations, liquidity and cash flow. On March 25, 2020, we temporarily closed all of our 687 stores nationwide, severely reducing revenues and resulting in significant operating losses and the elimination of substantially all operating cash flow. As allowed by state and local jurisdictions, 685 of our stores gradually reopened as of the end of June 2020. Two stores were permanently closed during the fourth quarter 2020. In accordance with our bankruptcy plan of reorganization, described below, we completed the permanent closure of 197 stores in the first quarter of 2021 and the closure of our Phoenix distribution center in second quarter of 2021. In addition, as part of our restructuring, we secured financing to pay creditors in accordance with the plan of reorganization and to fund planned operations and expenditures. Future impacts from the COVID-19 pandemic will depend on the potential further geographic spread and duration of the ongoing pandemic, the timing and extent of recovery in traffic and consumer spending in our stores, the extent and duration of ongoing impacts to domestic and international supply chains and the related impacts on the flow, availability and cost of products, the production and administration of effective medical treatments and vaccines, and the actions that may be taken by various governmental authorities and other third parties in response to the pandemic. Emergence From Chapter 11 Bankruptcy Proceedings In response to the impacts of the COVID-19 pandemic, on May 27, 2020 (the “Petition Date”), we filed voluntary petitions (the “Chapter 11 Cases”) under Chapter 11 of the United States Bankruptcy Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the Northern District of Texas, Dallas Division (the “Bankruptcy Court”). The Chapter 11 Cases were jointly administered for procedural purposes. During the pendency of the Chapter 11 Cases, we continued to operate our businesses as “debtors-in-possession” under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code and orders of the Bankruptcy Court. In accordance with orders of the Bankruptcy Court, we entered into certain debtor-in-possession financing arrangements to provide financing during the pendency of the Chapter 11 Cases. See Note 3 “Debt” to the consolidated financial statements for additional information regarding these debtor-in-possession financing arrangements. In early June 2020, in accordance with orders of the Bankruptcy Court, we commenced the process to close 132 store locations. By the end of July 2020, all of these stores were permanently closed. In mid-July 2020, we began the process to close an additional 65 stores following negotiations with our landlords, and those store closures were completed in August 2020. In total, we permanently closed 197 stores during the first quarter of fiscal 2021. In addition, we closed our Phoenix distribution center in the second quarter of fiscal 2021. On November 16, 2020, the Company and its subsidiaries filed with the Bankruptcy Court a proposed Revised Second Amended Joint Plan of Reorganization under Chapter 11 of the Bankruptcy Code (the “Amended Plan”) and a proposed Amended Disclosure Statement (the “Amended Disclosure Statement”) in support of the Amended Plan describing the Amended Plan and the solicitation of votes to approve the same from certain of the Debtors’ creditors with respect to the Chapter 11 Cases. The Amended Plan and the Amended Disclosure Statement contemplated the debt financing transactions described in Note 3 below under the caption “ Post-Emergence Debt Financing A rrangements”, the exchange and R ights O ffering ( de fin ed in Note 7 below under “Equity Financing under Plan of Reorganization” ) and the sale-leaseback transactions described in Note 8 . On December 23, 2020, the Bankruptcy Court entered an order (the “Confirmation Order”) confirming the Amended Plan, with certain modifications described in the Confirmation Order (as modified and confirmed, the “Plan of Reorganization”). On December 31, 2020, all of the conditions precedent to the Plan of Reorganization were satisfied and the Company completed the debt financing and sale-leaseback contemplated in the Plan of Reorganization. However, the closing of the Rights Offering was considered a critical component to the execution of our confirmed Plan of Reorganization, therefore, we continued to apply the requirements of ASC 852 – Reorganizations until that transaction closed on February 9, 2021. In accordance with the Plan of Reorganization, effective December 31, 2020 (the “Effective Date”), the Company’s board of directors was comprised of nine members, including five continuing directors of the Company, three new directors appointed by the Backstop Party (as defined in Note 7 under the caption “Equity Financing under Plan of Reorganization”) and one director appointed by the equity committee in the Chapter 11 Cases. Pursuant to the Plan of Reorganization, each outstanding share of the Company’s common stock as of the close of business on January 4, 2021 was exchanged for (1) one new share of the Company’s stock and (2) a share purchase right entitling the holder to purchase its pro rata portion of shares available to eligible holders in the Rights Offering described in Note 7 under the caption “Equity Financing under Plan of Reorganization.” On February 9, 2021, the Company completed the equity financing contemplated by the Plan of Reorganization. See Note 2 regarding Bankruptcy Accounting for further discussion. Liquidity and Going Concern The consolidated balance sheets as of June 30, 2021 and 2020, and the related consolidated statements of operations, stockholders’ equity and cash flows for each of the three years in the period ended June 30, 2021, and the related notes (collectively referred to as the “consolidated financial statements”) were prepared on the basis of a going concern, which contemplates that the Company will be able to realize assets and discharge liabilities in the normal course of business. Starting in the third quarter of fiscal 2020, the COVID-19 pandemic had an adverse effect on our business operations, store traffic, employee availability, financial conditions, results of operations, liquidity and cash flow. These conditions raised substantial doubt about the Company’s ability to continue as a going concern as described in the Company’s Consolidated Financial Statements included in its Annual Report on Form 10-K for the fiscal year ended June 30, 2020 and in its Quarterly Reports on Form 10-Q for the quarters ended March 31, 2020, September 30, 2020, December 31, 2020 and March 31, 2021. During the fourth quarter of fiscal 2021, the COVID-19 vaccine was rolled out widely in the United States. This is a significant change in circumstances from our previous going concern assessments. With the expanded availability of the COVID-19 vaccine and relaxed COVID-19 protocols, the Company does not expect widespread store closures as a result of COVID-19, which was a significant contributing factor to the Company’s distressed position in fiscal 2020. Additionally, the Company has completed its restructuring plan, as defined in the Plan of Reorganization, which consisted of (i) closing 197 store locations; (ii) closing the Phoenix distribution center; (iii) renegotiating a majority of our leases with landlords; (iv) securing financing to pay creditors in accordance with the plan; and (v) securing financing that will be utilized in connection to fund planned operations and expenditures. Accordingly, the Company re-evaluated its potential going concern disclosure requirements in accordance with ASC 205-40-50 as of the date of filing. Upon completion of this evaluation, the Company has concluded that funds generated from operating activities, available cash and cash equivalents, and borrowings under the New ABL Facility will be sufficient to fund its planned operations and capital expenditure requirements for at least 12 months. Furthermore, the Company believes this alleviates the prior substantial doubt about the Company’s ability to continue as a going concern. This evaluation is based on relevant conditions and events that are currently known or reasonably knowable, as of September 13, 2021. Summary of Significant Accounting Policies (a) Basis of Presentation —The accompanying consolidated financial statements include the accounts of Tuesday Morning Corporation, a Delaware corporation, and its wholly‑owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. We operate our business as a single operating segment. Certain reclassifications were made to prior period amounts to conform to the current period presentation. None of the reclassifications affected our net earnings/( loss ) in any period. We do not present a separate statement of comprehensive income, as we have no other comprehensive income items. (b) Use of Estimates (c) Cash and Cash Equivalents (d) Restricted Cash ( e ) Inventories Stores conduct annual physical inventories, staggered during the second half of the fiscal year. During periods in which physical inventory observations do not occur, we utilize an estimate for recording inventory shrink based on the historical results of our previous physical inventories. The estimated shrink rate may require a favorable or unfavorable adjustment to costs of sales based on actual results to the extent that our subsequent actual physical inventory yields a different result. Although inventory shrink rates have not fluctuated significantly in recent years, if the actual rate were to differ from our estimates, then an adjustment to inventory shrink would be required. We review our inventory during and at the end of each quarter to ensure that all necessary pricing actions are taken to adequately value our inventory at the lower of cost or market by recording permanent markdowns to our on-hand inventory. Management believes these markdowns result in the appropriate prices necessary to stimulate demand for the merchandise. Actual recorded permanent markdowns could differ materially from management’s initial estimates based on future customer demand or economic conditions. ( f ) Property and Equipment Estimated Useful Lives Furniture and fixtures 3 to 7 years Leasehold improvements Shorter of useful life or lease term Equipment 5 to 10 years Assets under finance lease Shorter of useful life or lease term Software 3 to 10 years Upon sale or retirement of an asset, the related cost and accumulated depreciation are removed from our balance sheet and any gain or loss is recognized in the statement of operations. Expenditures for maintenance, minor renewals and repairs are expensed as incurred, while major replacements and improvements are capitalized. ( g ) Deferred Financing Costs ( h ) Income Taxes We file our annual federal income tax return on a consolidated basis. Furthermore, we recognize uncertain tax positions when we have determined it is more likely than not that a tax position will be sustained upon examination. However, new information may become available, or applicable laws or regulations may change, thereby resulting in a favorable or unfavorable adjustment to amounts recorded. On March 27, 2020, in an effort to mitigate the economic impact of the COVID-19 pandemic, the U.S. Congress enacted the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”). The CARES Act included certain corporate income tax provisions, which among other things, included a five-year carryback of net operating losses and acceleration of the corporate AMT credit. The Company has evaluated the CARES Act and it did not have a material impact on the income tax provision. The CARES Act also contains provisions for deferral of the employer portion of social security taxes incurred through the end of calendar 2020 and an employee retention credit, a refundable payroll credit for 50% of wages and health benefits paid to employees not providing services due to the pandemic. As a result of the CARES Act, we continued to defer qualified payroll taxes through December 31, 2020. Current and non-current qualified deferred payroll taxes are each $2.1 million as of June 30, 2021. Payroll taxes were deferred through December 31, 2020. Half of the deferral is due on December 31, 2021 and the other half is due on December 31, 2022. ( i ) Self-Insurance Reserves The insurance liabilities we record are primarily influenced by the frequency and severity of claims, and include a reserve for claims incurred but not yet reported. Our estimated reserves may be materially different from our future actual claim costs, and, when required adjustments to our estimate reserves are identified, the liability will be adjusted accordingly in that period. Our self‑insurance reserves for workers’ compensation, general liability and medical were $7.3 million, $1.2 million, and $1.0 million, respectively, at June 30, 2021, and $8.4 million, $1.3 million, and $0.9 million, respectively, at June 30, 2020. We recognize insurance expenses based on the date of an occurrence of a loss including the actual and estimated ultimate costs of our claims. Claims are paid from our reserves and our current period insurance expense is adjusted for the difference in prior period recorded reserves and actual payments as well as changes in estimated reserves. Current period insurance expenses also include the amortization of our premiums paid to our insurance carriers. Expenses for workers’ compensation, general liability and medical insurance were $1.4 million, $3.7 million and $7.8 million, respectively, for the fiscal year ended June 30, 2021, $2.7 million, $3.3 million and $8.7 million, respectively, for the fiscal year ended June 30, 2020, and $2.1 million, $2.3 million and $7.9 million, respectively, for the fiscal year ended June 30, 2019. (j) Revenue Recognition Our revenue is earned from sales of merchandise within our stores and is recorded at the point of sale and conveyance of merchandise to customers. Revenue is measured based on the amount of consideration that we expect to receive, reduced by point of sale discounts and estimates for sales returns, and excludes sales tax. Payment for our sales is due at the time of sale. We maintain a reserve for estimated sales returns, and we use historical customer return behavior to estimate our reserve requirements. ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606) (“ASC 606”) was adopted in the first quarter of fiscal 2019. No impairment of the returns asset was indicated or recorded for the fiscal year ended June 30, 2021. Gift cards are sold to customers in our stores and we issue gift cards for merchandise returns in our stores. Revenue from sales of gift cards and issuances of merchandise credits is recognized when the gift card is redeemed by the customer, or if the likelihood of the gift card being redeemed by the customer is remote (“gift card breakage”). The gift card breakage rate is determined based upon historical redemption patterns. An estimate of the rate of gift card breakage is applied over the period of estimated performance and the breakage amounts are included in net sales in the Consolidated Statement of Operations. Breakage income recognized was $0.4 million, $0.8 million and $0.4 million for the fiscal years ended June 30, 2021, 2020 and 2019, respectively. The gift card liability totals $1.0 million and $1.3 million included in “Accrued Liabilities” in the Consolidated Balance Sheet at June 30, 2021 and 2020, respectively (See Note 5) . ( k ) Advertising ( l ) Share‑Based Compensation Compensation-Stock Compensation During fiscal year ended June 30, 2021, no stock options were granted. The fair value of each stock option granted during the fiscal years ended June 30, 2020 and 2019 was estimated at the date of grant using a Black‑Scholes option pricing model, using the following assumptions: Fiscal Years Ended June 30, 2021 2020 2019 Risk-free interest rate - 2.4% 2.3 - 2.9% Expected term (years) - 4.6 3.8 - 5.0 Expected stock volatility - 64.8% 49.0 - 64.8% Expected dividend yield - 0.0% 0.0% • Risk‑free interest rate - the risk‑free interest rate is the constant maturity risk-free interest rate for U.S. Treasury instruments with terms consistent with the expected lives of the awards. • Expected term - the expected term of an option is based on our historical review of employee exercise behavior based on the employee class (executive or non‑executive) and based on our consideration of the remaining contractual term if limited exercise activity existed for a certain employee class. • Expected stock volatility - the expected stock volatility is based on both the historical volatility of our stock based on our historical stock prices and implied volatility of our traded stock options. • Expected dividend yield - the expected dividend yield is based on our expectation of not paying dividends on our common stock for the foreseeable future. ( m ) Net Earnings/(Loss) Per Common Share ( n ) Impairment of Long‑Lived Assets and Long‑Lived Assets to Be Disposed Of Long‑lived assets, principally property and equipment, including leasehold improvements, and lease right-of-use assets are reviewed for impairment when, in management’s judgment, events or changes in circumstances indicate that the carrying amount of an asset (or asset group) may not be recoverable. If the carrying value of the asset or asset group exceeds the undiscounted cash flows expected to result from the use and eventual disposition of the asset group, the Company will write the carrying value down to the fair value in the period identified. Since there is typically no active market for our long-lived tangible assets, we estimate fair values based on the expected future cash flows. We estimate future cash flows based on store-level historical results, current trends, and operating and cash flow projections. While we believe our estimates and judgments about future cash flows are reasonable, future impairment charges may be required if the expected cash flow estimates, as projected, do not occur or if events change requiring us to revise our estimates. Assets subject to fair value measurement under ASC 820, “Fair Value Measurement”, are categorized into one of three different levels of the fair value hierarchy depending on the observability of the inputs employed in the measurement, as follows: • • • Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell. See Note 4 and Note 8 for additional information. ( o ) Intellectual Property Due to change in the Company’s management in the fourth quarter of fiscal 2021 and their future strategy related to the reduced use of certain intellectual properties, the Company concluded the assets no longer held value which resulted in a $1.6 million impairment of the intangible assets. ( p ) Asset Retirement Obligations Asset Retirement and Environmental Obligations For leases that contractually result in an ARO, we record the net present value of the ARO liability and also record a related capital asset, in an equal amount. The estimated ARO liability is based on a number of assumptions, including costs to return facilities back to specified conditions, inflation rates and discount rates. Accretion expense related to the ARO liability is recognized as operating expense in our Consolidated Statements of Operations. The capitalized asset is depreciated on a straight-line basis over the useful life of the related leasehold improvements. Upon ARO fulfillment, any difference between the actual retirement expense incurred and the recorded estimated ARO liability is recognized as an operating gain or loss in our Consolidated Statements of Operations. Our ARO liability, which totaled $1.0 million as of June 30, 2021 is included in “Asset retirement obligation—non-current” on our Consolidated Balance Sheet at June 30, 2021. Our ARO liability, which totaled $2.8 million as of June 30, 2020 was comprised of a $1.6 million short-term portion included in accrued liabilities and a $1.2 million long-term portion included in “Asset retirement obligation—non-current” on our Consolidated Balance Sheet. ( q ) Leases We adopted Accounting Standards Update (“ASU”) No. 2016-02, “Leases (Topic 842)” (“ASC 842”) effective July 1, 2019 using the modified retrospective adoption method, which resulted in an adjustment to opening retained earnings of $0.6 million as of July 1, 2019 to recognize impairment of the opening right-of-use asset balance for two stores for which assets had been previously impaired under ASC 360, “Property, Plant, and Equipment.” We utilized the simplified transition option available in ASC 842, which allowed the continued application of the legacy guidance in ASC 840, including disclosure requirements, in the comparative periods presented in the year of adoption. In addition, subsequent to the petition date noted above, we commenced negotiations with our landlords on substantially all of our ongoing leases, resulting in significant modifications and remeasurement recorded in the fiscal 2021. As a result of the remeasurements and terminations of rejected leases, we reduced our operating lease right-of-use assets by approximately $31 million and our operating lease liabilities by approximately $124 million, recording a gain of approximately $93 million, which would have been reduced by the $80.1 million impairment loss recorded on right-of-use lease assets in fiscal 2020, if the liability had been adjusted in the same fiscal year. The results of our fourth quarter fiscal 2020 impairment analysis indicated an impairment of our property and equipment as well as operating lease right-of-use assets at approximately 200 of our stores along with property and equipment of our Phoenix distribution center facility totaling $80.1 million, which is included in restructuring costs in the consolidated statement of operations for fiscal 2020. The impairments were the result of closing plans for these stores and the Phoenix distribution center. The $93 million gain was further reduced by an amount of estimated claims allowable by the bankruptcy court, resulting in a $66 million net gain which is included in Reorganization items, net (see Note 2) in the Consolidated Statement of Operations. ( r ) Legal Proceedings In addition, we are involved in legal and governmental proceedings as part of the normal course of our business. Reserves have been established when a loss is considered probable and are based on management’s best estimates of our potential liability in these matters. These estimates have been developed in consultation with internal and external counsel and are based on a combination of litigation and settlement strategies. Management believes that such litigation and claims will be resolved without material effect on our financial position or results of operations. ( s ) Recent Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (“FASB”) issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. This ASU is effective for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years, with early adoption permitted. The adoption of this standard in the first quarter of fiscal 2022 is not expected to result in a material impact to the Company’s financial statements. In August 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal Use Software: Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. ASU 2018-15 aligns the requirements for capitalizing implementation costs incurred in a cloud computing arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. ASU 2018-15 is effective for public companies for annual reporting periods beginning after December 15, 2019, and interim periods within those fiscal years. We adopted ASU 2018-15 in the first quarter of fiscal 2021 and it did not have a material impact on our results of operations, financial condition or cash flows. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement, the purpose of which is to improve the effectiveness of disclosures about fair value measurements required under ASC 820. This ASU is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years, with early adoption permitted. We adopted ASU 2018-13 in the first quarter of fiscal 2021 and it did not have a material impact on our results of operations, financial condition or cash flows. In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments – Credit Losses (Topic 326)” (“ASC 326”), which makes significant changes to the accounting for credit losses on financial assets and disclosures. The standard requires immediate recognition of management’s estimates of current expected credit losses. We adopted ASC 326 in the first quarter of fiscal 2021 and it did not have a material impact on our results of operations, financial condition or cash flows.

Bankruptcy Accounting

Bankruptcy Accounting	12 Months Ended
	Jun. 30, 2021
Reorganizations [Abstract]
Bankruptcy Accounting	2. BANKRUPTCY ACCOUNTING ASC 852 – Reorganizations requires that the consolidated financial statements, for periods subsequent to the filing of the Chapter 11 Cases, distinguish transactions and events that are directly associated with the reorganization from the ongoing operations of the business. During the pendency of the Chapter 11 cases until we qualified for emergence under ASC 852, the consolidated financial statements were prepared on a going concern basis of accounting, which contemplates continuity of operations, realization of assets, and satisfaction of liabilities and commitments in the normal course of business and reflect the application of ASC 852. Accordingly, certain expenses, gains and losses that were realized or incurred in the bankruptcy proceedings were recorded in Reorganization items, net in our Consolidated Statements of Operations. In addition, pre-petition unsecured and under-secured obligations that were subject to the bankruptcy reorganization process were classified as Liabilities subject to compromise in our Consolidated Balance Sheet. Pursuant to the Plan of Reorganization, a General Unsecured Claim Fund (“Unsecured Creditor Claim Fund”) was established for the benefit of holders of allowed general unsecured claims. Upon the closing of the sale and leaseback of the Corporate Office and the Dallas Distribution Center properties (see Note 8) and the issuance of the Term Loan (as defined in Note 3), net proceeds of $67.5 million, after payment of property taxes, and $18.8 million, respectively, were deposited directly into the Unsecured Creditor Claim Fund that is being administered by an independent unsecured claims disbursing agent. The remaining proceeds from the Term Loan that were not deposited into the Unsecured Creditor Claim Fund were deposited into our operating account. In addition, $14.2 million of additional cash was deposited into a segregated bank account at Wells Fargo Bank and was restricted for use in paying compensation for services rendered by professionals on or after the Petition date and prior to the approval date of our Plan of Reorganization by the court (“Effective Date”) (“Wells Fargo Restricted Fund”). The closing of the Rights Offering described in Note 7 provided approximately $40.0 million of cash that was deposited to the Unsecured Creditor Claim Fund and recorded as restricted cash. During the f iscal 2021, all services rendered by professionals were paid and the Wells Fargo Restricted Fund account was closed with all of the applicable funds disbursed. Net c ash remaining of $ 1.9 million was deposited directly into our unrestricted cash account during the fourth quarter of fiscal 2021 . As of June 30, 2021, we had $22.3 million of cash held in the Unsecured Creditor Claim Fund, recorded as restricted cash on the balance sheet for the payment of claims. The accompanying consolidated financial statements as of June 30, 2020 do not purport to reflect or provide for the consequences of the Chapter 11 Cases. In particular, the consolidated financial statements do not purport to show: (i) the realizable value of assets on a liquidation basis or their availability to satisfy liabilities; (ii) the full amount of pre-petition liabilities that may be allowed for claims or contingencies, or the status and priority thereof; (iii) the effect on stockholders’ investment accounts of any changes that may be made to our capitalization; or (iv) the effect on operations of any changes that may be made to our business. For specific discussion on balances of liabilities subject to compromise and reorganization items, see below. Our Plan of Reorganization was confirmed on December 23, 2020, and all listed material conditions precedent were resolved by the December 31, 2020 legal effective date of emergence as governed by the Bankruptcy Court. However, the closing of our Rights Offering was considered a critical component to the execution of our confirmed Plan of Reorganization, therefore, we continued to apply the requirements of ASC 852 until that transaction closed on February 9, 2021. We were not required to apply fresh start accounting based on the provisions of ASC 852 as there was no change in control and the entity’s reorganization value immediately before the date of confirmation was more than the total of all its post-petition liabilities and allowed claims. Liabilities Subject to Compromise As a result of the Chapter 11 Cases, the payment of pre-petition indebtedness was subject to compromise. Generally, actions to enforce or otherwise effect payment of pre-bankruptcy filing liabilities are stayed. Although payment of pre-petition claims is generally not permitted, the Bankruptcy Court granted the Company authority to pay certain pre-petition claims in designated categories and subject to certain terms and conditions. This relief generally was designed to preserve the value of our businesses and assets. Among other things, the Bankruptcy Court authorized the Company to pay certain pre-petition claims relating to employee wages and benefits, customers, vendors, and suppliers in the ordinary course of business and certain insurance, tax, and principal and interest payments. With respect to pre-petition claims, we notified all known claimants of the deadline to file a proof of claim with the Bankruptcy Court. Pre-petition liabilities that are subject to compromise were required to be reported at the amounts expected to be allowed, even if they may be settled for lesser amounts (see above for details on the Unsecured Creditor Claim Fund) In connection with our emergence from bankruptcy, all allowable claims have been reclassified from Liabilities subject to compromise to Accounts payable and Accrued liabilities in our Consolidated Balance Sheets as of June 30, 2021. Where there was uncertainty about whether a secured claim would be paid or impaired pursuant to the Chapter 11 Cases, we classified the entire amount of the claim as an outstanding liability subject to compromise as of June 30, 2020. June 30, 2021 2020 Accounts payable $ - $ 83,467 Accrued expenses - 6,630 Operating lease liabilities - 71,097 Lease liabilities - non-current - 294,812 Other liabilities - non-current - 333 Liabilities subject to compromise $ - $ 456,339 Restructuring, Impairment and Abandonment Charges Restructuring and abandonment charges total $10.8 million and $113.5 million for the years-ended June 30, 2021 and 2020, respectively, and include the following (in thousands): Fiscal Year Ended June 30, 2021 2020 Restructuring costs: Professional fees $ - $ 5,212 Severance and compensation related costs 3,557 3,122 Total restructuring costs $ 3,557 $ 8,334 Impairment costs: Store long-lived assets $ - $ 11,656 Distribution center long-lived assets - 16,794 Operating lease right-of-use assets - 51,626 Intangible asset 1,639 - Total impairment costs $ 1,639 $ 80,076 Abandonment costs: Accelerated recognition of operating lease right-of-use assets 5,638 25,082 Total abandonment costs $ 5,638 $ 25,082 Total restructuring, impairment and abandonment costs $ 10,834 $ 113,492 There were no Restructuring, Impairment and Abandonment Charges recorded in fiscal 2019. For the year-ended June 30, 2021, restructuring and abandonment costs primarily related to $3.6 million of executive severance and employee retention costs, intangible impairment charge of $1.6 million, as well as abandonment cost of $5.6 million related to the permanent closure of our stores and the Phoenix distribution center. For the year-ended June 30 2020, restructuring, impairment and abandonment charges primarily related to (i) $80.1 million in impairment cost and $25.1 million in abandonment cost relating to our permanent store closing plan along with our decision to close the Phoenix distribution center; (ii) $5.2 million in pre-filing incremental professional fees; and (iii) $3.1 million in compensation costs related to a reorganization reduction in force completed prior to the filing of the Chapter 11 Cases. Decisions regarding store closures and the Phoenix distribution center were made in the fourth quarter of fiscal 2020, prior to filing the Chapter 11 Cases; however, the closure of the Phoenix distribution center was not completed until the second quarter of fiscal 2021. Reorganization Items, net Reorganization items, net, included in our consolidated statement of operations represent amounts resulting from the Chapter 11 Cases and resulted in a net gain of $60.0 million and a net loss of $3.6 million for the years ended June 30, 2021 and 2020 respectively, and include the following (in thousands): Fiscal Year Ended June 30, 2021 2020 Reorganization items, net: Professional and legal fees $ 34,579 $ 3,619 Gains on lease termination, net of estimated claims (66,247 ) - Claims related costs 1,302 - Rights Offering and Backstop Agreement 19,990 - Gain on sale-leaseback (49,639 ) - Total reorganization items, net $ (60,015 ) $ 3,619 There were no reorganization items recorded in fiscal 2019. For the year-ended June 30, 2021, Reorganization items, net was a net gain of $60.0 million due to a net gain of $66.2 million resulting from the store lease terminations and the termination of our Phoenix distribution center lease under our permanent closure plan, and a $49.6 million gain on the sale-leaseback transactions under our Plan of Reorganization (see Note 1 and Note 8). These gains were partially offset by $34.6 million in professional and legal fees related to our reorganization costs as well as $20.0 million of charges related to the execution of our Rights Offering (see Note 1 and 7). The proceeds of the sales-leaseback transaction, along with other sources of financing, continue to be used to satisfy allowed claims and are categorized as Reorganization items, net. For the year-ended June 30, 2020, reorganization costs represent amounts incurred from the Petition Date onward directly resulting from the Chapter 11 Cases and consist of professional fees of $3.6 million.

Debt

Debt	12 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Debt	3. DEBT Pre-Petition Financing Agreements Through December 31, 2020, we were party to a credit agreement that provided for an asset-based, five-year As of December 31, 2020, we had no amounts outstanding under the Pre-Petition ABL Credit Agreement, and that agreement was terminated in connection with our legal emergence from bankruptcy. Debtor-In-Possession Financing Agreements On May 29, 2020, we entered into a Senior Secured Super Priority Debtor-in-Possession Credit Agreement (the “DIP ABL Credit Agreement”) among the Company, JPMorgan Chase Bank, N.A., as administrative agent, for itself and the other lenders, which provided for a super priority secured debtor-in-possession revolving credit facility in an aggregate amount of up to $100.0 million. On July 10, 2020, we entered into a Senior Secured Super Priority Debtor-In-Possession Delayed Draw Term Loan Agreement (the “DIP DDTL Agreement”) with the Franchise Group, Inc., which provided for delayed draw term loans in an amount not to exceed $25.0 million. We made no borrowings under the DIP ABL Credit Agreement or the DIP DDTL Agreement. On December 31, 2020, the DIP ABL Credit Agreement and the DIP DDTL Agreement were terminated in connection with our legal emergence from bankruptcy. Post-Emergence Financing Arrangements On December 31, 2020, the Company and its subsidiaries entered into a Credit Agreement (the “New ABL Credit Agreement”) with JPMorgan Chase Bank, N.A., Wells Fargo Bank, N.A. and Bank of America, N.A. (collectively, the “Lenders”) that provides for a revolving credit facility in an aggregate amount of $110.0 million (the “New ABL Facility”). The New ABL Credit Agreement includes conditions to borrowings, representations and warranties, affirmative and negative covenants, and events of default customary for financings of this type and size. The New ABL Credit Agreement requires the Company to maintain a minimum fixed charge coverage ratio if borrowing availability falls below certain minimum levels, after the first anniversary of the agreement. We are not required to be compliant per the lender agreement until December 31, 2021. Under the terms of the New ABL Credit Agreement, amounts available for advances would be subject to a borrowing base as described in the New ABL Credit Agreement. Under the New ABL Credit Agreement, borrowings will initially bear interest at a rate equal to the adjusted LIBOR rate plus a spread of 2.75% or the Commercial Bank Floating Bank rate plus a spread of 1.75%. The New ABL Facility is secured by a first priority lien on all present and after-acquired tangible and intangible assets of the Company and its subsidiaries other than certain collateral that secures the Term Loan (as defined below). The commitments of the Lenders under the New ABL Facility will terminate and outstanding borrowings under the New ABL Facility will mature on December 31, 2023. As of June 30, 2021, we had $12.0 million of borrowings outstanding under the New ABL Facility and, $12.1 million of letters of credit outstanding. Taking into account $10.0 million of borrowing capacity that is unavailable until December 31, 2021, we have borrowing availability of $38.9 million under the New ABL Facility, as of June 30, 2021. On December 31, 2020, the Company, Alter Domus (US), LLC, as administrative agent, and the lenders named therein including Tensile Capital Partners Master Fund LP and affiliates of Osmium Partners, LLC, entered into a Credit Agreement (the “Term Loan Credit Agreement”) to provide a term loan of $25.0 million to the Company (the “Term Loan”). In accordance with the Plan of Reorganization, on December 31, 2020, three new directors were selected for membership on the Board of Directors by Osmium Partners (Larkspur SPV), LP, an affiliate of Tensile Capital Partners Master Fund LP (“Tensile”) and Osmium Partners, LLC (“Osmium”). Pursuant to the Term Loan Credit Agreement, Tensile Capital Partners Master Fund, LP and affiliates of Osmium Partners, LLC., held $19.0 million and $1.0 million, respectively, of the $25.0 million outstanding Term Loan. Representatives of Osmium and Tensile both hold seats on the board and therefore Osmium and Tensile are related parties to the company. Pursuant to the terms of the Term Loan Credit Agreement, the Term Loan has a maturity date of December 31, 2024 and bears interest at a rate of 14% per annum, with interest payable in-kind (“PIK”). Under the terms of the Term Loan Credit Agreement, the Term Loan is secured by a second lien on the collateral securing the New ABL Facility and a first lien on certain other assets of the Company as described in the Term Loan Credit Agreement. The Term Loan is subject to optional prepayment after the first anniversary of the date of issuance at prepayment price equal to the greater of (1) the original principal amount of the Term Loan plus accrued interest thereon, and (2) 125% of the original principal amount of the Term Loan. The Term Loan is subject to mandatory prepayment in connection with a change of control of the Company as described in the Term Loan Credit Agreement. The Term Loan Credit Agreement also includes customary covenants and events of default. As of June 30, 2021, the outstanding principal balance of the Term Loan was $26.4 million. Term Loan June 30, 2021 2020 Loan balance, at December 31, 2020 $ 25,000 - Debt issuance costs (432 ) - Accrued paid-in-kind interest 1,806 - Loan balance, at June 30, 2021 $ 26,374 - At June 30, 2021, we are in compliance with covenants in the New ABL Facility and Term Loan respectively. Interest Expense Interest expense for fiscal year 2021 from the New ABL Facility, the DIP ABL Credit Agreement and the Term Loan of $8.2 million was comprised of the amortization of financing fees of $5.5 million, commitment fees of $0.8 million, and, interest paid on the New ABL Facility and accrued PIK interest on the Term Loan of $1.9 million. Interest expense for fiscal year 2020 from the Pre-Petition ABL Credit Agreement of $1.9 million was comprised of interest of $1.5 million, commitment fees of $0.2 million, and the amortization of financing fees of $0.2 million. Fair Value Measurements The fair value of our Term Loan was determined based on observable market data provided by a third party for similar types of debt which are considered Level 2 inputs within the fair value hierarchy. The carrying and fair values of our Term Loan as of June 30, 2021 was $26.4 million and $29.6 million, respectively.

Property and Equipment, Net

Property and Equipment, Net	12 Months Ended
	Jun. 30, 2021
Property Plant And Equipment [Abstract]
Property and Equipment, Net	4. PROPERTY AND EQUIPMENT, net Property and equipment, net of accumulated depreciation, consisted of the following (in thousands): June 30, 2021 2020 Land $ - $ 6,628 Buildings and building improvements - 43,215 Furniture and fixtures 47,587 63,755 Equipment 50,231 68,909 Software 41,575 50,691 Leasehold improvements 49,651 65,281 Assets under finance lease 681 1,223 189,725 299,702 Less accumulated depreciation (151,941 ) (231,067 ) Net property and equipment $ 37,784 $ 68,635 In the second quarter ended December 31, 2020, we sold our corporate office and Dallas distribution center properties and land with a total net book value of $18.9 million in a sale-leaseback transaction (see further discussion in Note 8 below). Gains related to the sale or other disposal of such assets are presented in Reorganization items, net on our Consolidated Statement of Operations (See Note 2).

Accrued Liabilities

Accrued Liabilities	12 Months Ended
	Jun. 30, 2021
Payables And Accruals [Abstract]
Accrued Liabilities	5. ACCRUED LIABILITIES Accrued liabilities consisted of the following (in thousands): June 30, 2021 2020 Sales and use tax $ 2,698 $ 5,027 Self-insurance reserves 9,405 10,631 Wages, benefits and payroll taxes 9,639 2,303 Property taxes 1,510 1,809 Freight and distribution 8,658 1,620 Capital expenditures 348 - Utilities 1,466 791 Advertising 613 69 Gift card liability 1,045 1,281 Asset retirement obligation 3 1,598 Reorganization expenses 6,337 3,544 Other expenses 4,732 5,269 Total accrued liabilities $ 46,454 $ 33,942 Liabilities subject to compromise as of June 30, 2020 are discussed in Note 2 above and are not included in this table of accrued liabilities.

Income Taxes

Income Taxes	12 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	6. INCOME TAXES Income tax provision/(benefit) consisted of the following (in thousands): Current Deferred Total Fiscal Year Ended June 30, 2021 Federal $ — $ 20 $ 20 State and local 267 4 271 Total $ 267 $ 24 $ 291 Fiscal Year Ended June 30, 2020 Federal $ (286 ) $ 306 $ 20 State and local 196 5 201 Total $ (90 ) $ 311 $ 221 Fiscal Year Ended June 30, 2019 Federal $ (286 ) $ 303 $ 17 State and local 225 4 229 Total $ (61 ) $ 307 $ 246 A reconciliation between income taxes computed at the statutory federal income tax rate of 21%. Income taxes recognized in the Consolidated Statements of Operations was as follows (in thousands): Fiscal Year Ended June 30, 2021 2020 2019 Federal income tax benefit computed at statutory rate $ 687 $ (34,883 ) $ (2,561 ) State income taxes, net of related federal tax benefit 214 159 181 Increase/(decrease) in federal valuation allowance (11,637 ) 34,586 2,291 Federal tax credits (113 ) (91 ) (294 ) Stock option expiration/deficiencies 250 620 548 Warrant issue expenses 4,324 - - Reorganization expenses 6,202 - - Other, net 364 (170 ) 81 Provision for income taxes $ 291 $ 221 $ 246 Deferred income taxes reflect the net tax effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of our deferred tax assets and liabilities as of June 30, 2021 and 2020, all of which are classified as non-current in our Consolidated Balance Sheets, were comprised of the following (in thousands): June 30, 2021 2020 Deferred tax assets: Other payroll and benefits $ 1,182 $ 189 Inventory reserves 931 1,516 Self-insurance reserves 2,318 2,620 Share-based compensation 1,800 1,648 Other current assets 1,160 1,288 Operating lease liabilities 52,008 87,073 Property and equipment 727 3,208 Disallowed interest expense 2,954 942 Net operating loss and tax credits 41,833 38,096 Other noncurrent assets 556 191 Total gross deferred tax assets $ 105,469 $ 136,771 Deferred tax liabilities: Inventory costs $ 2,924 $ 4,371 Prepaid supplies 1,353 1,174 Operating lease - right of use 47,627 63,694 Total gross deferred tax liabilities 51,904 69,239 Valuation allowance (53,683 ) (67,626 ) Net deferred tax liability $ (118 ) $ (94 ) During fiscal 2013, we established a valuation allowance related to deferred tax assets. In assessing whether a deferred tax asset would be realized, we considered whether it is more likely than not that some portion or all of the deferred tax assets would not be realized. We considered the reversal of existing taxable temporary differences, projected future taxable income, tax planning strategies and loss carry back potential in making this assessment. In evaluating the likelihood that sufficient future earnings would be available in the near future to realize the deferred tax assets, we considered our cumulative losses over three years including the then-current year. Based on the foregoing, we concluded that a valuation allowance was necessary, and based on our results since fiscal 2013, we have continued to conclude that a full tax valuation allowance is necessary. In fiscal 2021, the deferred tax asset valuation allowance, decreased $13.9 million, due to our operating income for fiscal 2021 and non-deductible reorganization costs. We have federal net operating loss carryforwards of $153.6 million. These losses can only be carried forward and utilized to offset future taxable income. Of this carryforward amount, $70.2 million will expire in fiscal years 2033 through 2037 if not utilized before then. The remaining $83.4 million can be carried forward indefinitely, due to provisions of the TCJA. Additionally, we have tax effected state net operating loss carryforwards of $6.0 million, which will expire throughout fiscal years 2021 through 2041 filings, if not utilized before then. Accounting for Uncertainty in Income Taxes. The Company or one of its subsidiaries files income tax returns in the U.S. federal jurisdiction, and various state jurisdictions. With few exceptions, the Company is no longer subject to U.S. federal, state and local income tax examinations by tax authorities for years before fiscal 2015. The Internal Revenue Service has concluded an examination of the Company for years ending on or before June 30, 2010. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands): Balance at June 30, 2018 $ 147 Additions for tax positions of prior years — Reductions for lapse of statute of limitations — Balance at June 30, 2019 $ 147 Additions for tax positions of prior years — Reductions for lapse of statute of limitations — Balance at June 30, 2020 $ 147 Additions for tax positions of prior years — Reductions for lapse of statute of limitations — Balance at June 30, 2021 $ 147 The balance of taxes, interest, and penalties at June 30, 2021, that if recognized, would affect the effective tax rate is $0.3 million. We classify and recognize interest and penalties accrued related to unrecognized tax benefits in income tax expense. No interest or penalties were paid in the tax years ended June 30, 2021, 2020, and 2019. We do not anticipate that the total amount of unrecognized tax benefits will significantly increase or decrease the effective tax rate within 12 months of June 30, 2021.

Common Stock & Share-Based Ince

Common Stock & Share-Based Incentive Plans	12 Months Ended
	Jun. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Common Stock & Share-Based Incentive Plans	7. COMMON STOCK & SHARE‑BASED INCENTIVE PLANS Increase in Authorized Capital Stock As provided in the Plan of Reorganization, the Company’s Amended and Restated Certificate of Incorporation (the “Amended and Restated Certificate of Incorporation”) increased the number of authorized shares of the Company’s common stock, par value $0.01 per share, to 200,000,000 shares. The Company had 86,204,572 shares of common stock outstanding as of June 30, 2021. Equity Financing under Plan of Reorganization Pursuant to the Plan of Reorganization, each outstanding share of the Company’s common stock as of the close of business on January 4, 2021 was exchanged (the “Exchange”) for (1) one new share of the Company’s stock and (2) a share purchase right entitling the holder to purchase its pro rata portion of shares available to eligible holders in a rights offering. In accordance with the Plan of Reorganization, the Company commenced a $40.0 million rights offering in January 2021, under which eligible holders of the Company’s common stock could purchase up to $24.0 million of shares of the Company’s common stock at a purchase price of $1.10 per share, and Osmium Partners (Larkspur SPV), LP (the “Backstop Party”), a special purpose entity affiliate of Osmium Partners, LLC jointly owned with Tensile Capital Management, could purchase up to $16 million of the Company’s common stock at a purchase price of $1.10 per share (the “Rights Offering”). Pursuant to a backstop commitment agreement, the Backstop Party agreed to purchase all unsubscribed shares in the Rights Offering. The subscription period for the Rights Offering expired on February 1, 2021, with eligible holders subscribing to purchase approximately $19.8 million of the company’s common stock, with the Backstop Party purchasing the remaining $20.2 million of the company’s common stock. On February 9, 2021, the Company closed on the Rights Offering and recorded proceeds of $40.0 million and recognized a non-cash charge of approximately $14.5 million as a result of the change in fair value of the Company’s common stock issued to the Backstop Party as measured from the consummation of the Exchange through the close date (“Backstop Premium”). The change in fair value was determined by reference to the Company’s stock price, traded over-the-counter, discounted for the restrictions that limited the holders ability to resell securities until they were registered pursuant to a Registration Rights Agreement entered into on February 9, 2021 between the Company and Backstop Party. In addition, on February 9, 2021, the Company issued warrants with rights to purchase 10 million shares of common stock with an exercise price of $1.65 and a five year term to the Backstop Party (“Warrants”). The Company classified the Warrants as equity instruments and recognized expense of $3.5 million measured at fair value using the Black-Scholes model. Significant inputs used in the model were: i) An expected term of 5 years; ii) a volatility rate of 37.98%; iii) a risk free interest rate of 0.36%; iv) a discount for lack of marketability of 30%. Finally, on February 9, 2021 the Backstop Party received a backstop fee in the amount of $2.0 million (payable in shares of common stock valued at $1.10 per share) that was classified as an equity instrument. The non-cash charges of approximately $14.5 million for the Backstop Premium, the $3.5 million of expense related to the Warrants, and backstop fee of approximately $2.0 million are recorded in Reorganization items, net in our Consolidated Statements of Operations for the fiscal year ended June 30, 2021. In accordance with the terms of the Plan of Reorganization, all proceeds from the Rights Offering were used to make payments of the claims of general unsecured creditors in the Chapter 11 Cases. Ownership Restrictions In order to continue to assist the Company in preserving certain tax attributes (the “Tax Benefits”), the Company’s Amended and Restated Certificate of incorporation imposes certain restrictions on the transferability and ownership of the Company’s capital stock (the “Ownership Restrictions”). Subject to certain exceptions, the Ownership Restrictions restrict (i) any transfer that would result in any person acquiring 4.5% or more of our Common Stock, (ii) any transfer that would result in an increase of the ownership percentage of any person already owning 4.5% or more of our Common Stock, or (iii) any transfer during the five-year period following December 31, 2020 that would result in a decrease of the ownership percentage of any person already owning 4.5% or more of our Common Stock. Pursuant to the Company’s Amended and Restated Certificate of Incorporation, any transferee receiving shares of our Common Stock that would result in a violation of the Ownership Restrictions will not be recognized as a stockholder of the Company or entitled to any rights of stockholders. The Company’s Amended and Restated Certificate of Incorporation allows the Ownership Restrictions to be waived by the Company’s board of directors on a case by case basis. The board of directors has taken action to waive the restrictions with respect to sales of shares acquired in the Rights Offering by the Backstop Party. The Ownership Restrictions will remain in effect until the earliest of (i) the repeal of Section 382 of the Internal Revenue Code or any successor statute if the board of directors determines the Ownership Restrictions are no longer necessary for preservation of the Tax Benefits, (ii) the beginning of a taxable year in which the board of directors determines no Tax Benefits may be carried forward, or (iii) such other date as shall be established by the board of directors. Share-based Awards We have established the Tuesday Morning Corporation 2008 Long-Term Equity Incentive Plan (the “2008 Plan”) and the Tuesday Morning Corporation 2014 Long-Term Incentive Plan, as amended (the “2014 Plan”), which allow for the granting of stock options to directors, officers and key employees of the Company, and certain other key individuals who perform services for us and our subsidiaries. Equity awards may no longer be granted under the 2008 Plan, but equity awards granted under the 2008 Plan are still outstanding. On September 16, 2014, our Board of Directors adopted the Tuesday Morning Corporation 2014 Plan and the 2014 Plan was approved by our stockholders at the 2014 annual meeting of stockholders on November 12, 2014. Our Board of Directors also approved the termination of the Company’s ability to grant new awards under the 2008 Plan, effective upon the date of stockholder approval of the 2014 Plan, and no new awards will be made under the 2008 Plan. On September 22, 2016, our Board of Directors adopted amendments to the 2014 Plan, which were approved at the 2016 Annual Meeting of Stockholders, to increase the number of shares of our common stock available for issuance under the 2014 Plan and to make additional amendments to the 2014 Plan to, among other things, remove liberal share recycling, reduce the number of shares exempt from minimum vesting, and eliminate discretion to accelerate vesting upon a change in control. On August 22, 2017, our Board of Directors adopted a Second Amendment to the 2014 Plan that modified the minimum vesting provisions as they apply to non-employee directors. As provided in the Plan of Reorganization, on December 31, 2020, the 2014 Plan was further amended to increase the number of shares available for issuance under the 2014 Plan. The maximum number of shares reserved for issuance under the 2014 Plan, as amended, is 8.5 million shares plus any awards under the 2008 Plan (i) that were outstanding on September 16, 2014, and, on or after September 16, 2014, are forfeited, expired or are cancelled, and (ii) any shares subject to such awards that, on or after September 16, 2014 are used to satisfy the exercise price or tax withholding obligations with respect to such awards. The 2014 Plan provides for the granting of incentive stock options, nonqualified stock options, stock appreciation rights, restricted stock, restricted stock units, performance awards, dividend equivalent rights, and other awards which may be granted singly, in combination, or in tandem, and which may be paid in cash, shares of common stock, or a combination of cash and shares of common stock. Under the 2014 Plan, stock options may not vest earlier than one year after the date of grant. “Full Value Awards” (i.e., restricted stock or restricted stock units) that constitute performance awards must vest no earlier than one year after the date of grant and Full Value Awards that constituted “Tenure Awards” (i.e., awards that vest upon passage of time) may not vest earlier than over the three-year 5% Stock options were awarded with a strike price at a fair market value equal to the closing price of our common stock on the date of the grant under the 2008 Plan and the 2014 Plan. Options granted under the 2008 Plan and the 2014 Plan typically vest over periods of one to four years and expire ten years from the date of grant. Options granted under the 2008 Plan and the 2014 Plan may have certain performance requirements in addition to service terms. If the performance conditions are not satisfied, the options are forfeited. The exercise prices of stock options outstanding on June 30, 2021 range between $1.64 per share and $19.36 per share. The 2008 Plan terminated with respect to the granting of new awards as the 2014 Plan became effective to provide new awards as of September 16, 2014. There were 1.9 million shares available for grant under the 2014 Plan at June 30, 2021. Following is a summary of transactions relating to the 2008 Plan and 2014 Plan options for the fiscal years ended June 30, 2021, 2020, and 2019: Number of Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Options Outstanding at June 30, 2018 3,957,243 $ 6.30 7.21 $ 475,381 Granted during year 536,877 3.22 Exercised during the year (3,105 ) 2.10 Forfeited or expired during year (792,972 ) 7.38 Options Outstanding at June 30, 2019 3,698,043 5.63 7.10 - Granted during year 12,000 1.64 Exercised during the year - - Forfeited or expired during year (1,015,427 ) 6.22 Options Outstanding at June 30, 2020 2,694,616 5.33 6.11 - Granted during year - - Exercised during the year (22,308 ) 1.98 Forfeited or expired during year (327,565 ) 5.37 Options Outstanding at June 30, 2021 2,344,743 $ 5.36 4.70 $ 1,642,845 Options Exercisable at June 30, 2021 2,019,170 $ 4.43 $ 1,121,354 The weighted average grant date fair value of stock options granted during the fiscal years ended June 30, 2020, and 2019, was $0.83 per share, and $1.71 per share, respectively. There were no stock options granted during the fiscal year ended June 30, 2021. There is a $1.1 million intrinsic value of vested unexercised options at June 30, 2021. The aggregate intrinsic value of stock options exercised was $43,599, $0, and $1,800 during the fiscal years ended June 30, 2021, 2020, and 2019, respectively. At June 30, 2021, we had $0.2 million of total unrecognized share‑based compensation expense related to stock options that is expected to be recognized over a weighted average period of 0.93 years. The following table summarizes information about stock options outstanding at June 30, 2021: Options Outstanding Options Exercisable Range of Exercise Prices Number Outstanding Weighted Average Remaining Contractual Life (Years) Weighted Average Exercise Price Per Share Number Exercisable Weighted Average Exercise Price Per Share $1.64 - $2.10 151,483 5.91 $ 2.03 118,353 $ 2.07 $2.45 - $2.45 348,036 5.58 2.45 261,029 2.45 $3.12 - $3.12 15,000 6.86 3.12 11,250 3.12 $3.25 - $3.25 411,571 6.49 3.25 209,885 3.25 $3.95 - $5.59 104,390 2.64 4.84 104,390 4.84 $5.64 - $5.64 376,101 3.66 5.64 376,101 5.64 $5.95 - $5.95 272,825 3.61 5.95 272,825 5.95 $6.71 - $6.71 367,485 4.75 6.71 367,485 6.71 $7.90 - $14.72 244,894 3.42 9.42 244,894 9.42 $18.42 - $19.36 52,958 3.42 18.96 52,958 18.96 2,344,743 4.70 5.36 2,019,170 5.76 Restricted Stock Awards/Units The 2008 Plan and the 2014 Plan authorize the grant of restricted stock awards to directors, officers, key employees and certain other key individuals who perform services for us and our subsidiaries. Equity awards may no longer be granted under the 2008 Plan, but restricted stock awards granted under the 2008 Plan are still outstanding. Restricted stock awards are not transferable, but bear certain rights of common stock ownership including voting and dividend rights. Shares are valued at the fair market value of our common stock at the date of award. Shares may be subject to certain performance requirements. If the performance requirements are not met, the restricted shares are forfeited. Under the 2008 Plan and the 2014 Plan, as of June 30, 2021 , there were shares of restricted stock awards and restricted stock units outstanding with award vesting periods, both performance-based and service-based, of one to four years and a weighted average grant date fair value of $ and $ per share , respectively . On May 19, 2021 , Fred Hand was awarded 1,230,769 performance based and 1,538,462 service based restricted stock units as an incentive to become CEO. These awards vest over a period of one to five years . The following table summarizes information about restricted stock units, performance stock units, restricted stock awards and performance stock awards granted and outstanding for the fiscal years ended June 30, 2021, 2020, and 2019: Restricted and Performance Stock Units Number of Shares Weighted- Average Fair Value at Date of Grant Restricted and Performance Stock Awards Number of Shares Weighted- Average Fair Value at Date of Grant Outstanding at June 30, 2018 - $ - 1,433,269 $ 3.95 Granted during year 57,693 3.25 1,039,050 3.09 Vested during year - 3.25 (421,359 ) 4.59 Forfeited during year - - (211,099 ) 3.63 Outstanding at June 30, 2019 57,693 $ 3.25 1,839,861 $ 3.36 Granted during year 57,693 1.58 1,422,927 1.63 Vested during year (57,693 ) 1.58 (446,987 ) 3.55 Forfeited during year - - (836,321 ) 2.38 Outstanding at June 30, 2020 57,693 $ 3.25 1,979,480 $ 2.43 Granted during year 3,021,924 2.81 1,121,250 1.50 Vested during year (57,693 ) 1.91 (595,190 ) 2.26 Forfeited during year - - (797,172 ) 2.29 Outstanding at June 30, 2021 3,021,924 $ 2.83 1,708,368 $ 1.94 Cash Settled Awards In the fiscal year ending 2019, 2020 and 2021, we granted stock-based awards to certain employees, which vest over a period of three to four years, and will be settled in cash (“cash settled awards”). Both performance based and service-based awards were granted. Except for the performance based awards which have been deemed unlikely to vest, the fair value of the cash settled awards at each reporting period is based on the price of our common stock. The fair value of the cash settled awards will be remeasured at each reporting period until the awards are settled. The following table summarizes the activity of cash settled awards during fiscal 2021: Performance Service Based Based Total Outstanding at June 30, 2020 287,350 861,056 1,148,406 Grant during year - - - Vested during year - (208,328 ) (208,328 ) Forfeited during year (143,675 ) (105,030 ) (248,705 ) Outstanding at June 30, 2021 143,675 547,698 691,373 The liability associated with the cash settled awards was $1.7 million and $0.1 million at June 30, 2021 and June 30, 2020, respectively. Share-based compensation costs: We recognized share‑based compensation costs as follows (in thousands): Fiscal Years Ended June 30, 2021 2020 2019 Amortization of share-based compensation during the period $ 1,851 $ 2,555 $ 3,488 Amounts capitalized in inventory (410 ) (681 ) (1,114 ) Amount recognized and charged to cost of sales 613 846 1,162 Amounts charged against income for the period before tax $ 2,054 $ 2,720 $ 3,536 Share-based Compensation from Related Party to CEO Upon his appointment as the Company’s Chief Executive Officer, Fred Hand entered into agreements with Osmium Partners, LLC., pursuant to which Mr. Hand became entitled to receive 30% of all carry distributions (“Carried Interest”) payable by certain members of Osmium Partners (Larkspur SPV) LP (the “SPV”) in respect of its approximately 31.4% of the outstanding shares of common stock of the Company, at the date of the Carried Interest Arrangement, May 4, 2021 (including warrants to purchase 10,000,000 shares of common stock), to Osmium Partners, LLC, the SPV’s carry partner. Subject to Mr. Hand’s continued employment with the Company, such entitlement will vest over 42 months as follows: (a) on the second anniversary of Mr. Hand’s employment by the Company, Mr. Hand’s entitlement to approximately 17.14% (the product of 30% times 24/42) of the Carried Interest will become vested, and (b) thereafter, Mr. Hand’s entitlement to approximately 0.71% (the product of 30% times 1/42) of the Carried Interest will become vested each month. In addition, Mr. Hand’s entitlement to a portion of the Carried Interest will be subject to a participation threshold in the minimum amount necessary to render his entitlement a valid profit interest for tax purposes. Share-based payments awarded to an employee of the reporting entity by a related party or other holder of an economic interest in the entity as compensation for services provided to the entity, are share-based payment transactions to be accounted for unless the transfer is clearly for a purpose other than compensation for services to the reporting entity. The substance of such a transaction is that the economic interest holder makes a capital contribution to the reporting entity, and that entity makes a share-based payment to its employee in exchange for services rendered. The Company concluded that the Carried Interest entitlement granted by Osmium Partners, LLC to Mr. Hand falls under this category and therefore it is treated as share based compensation in the accounts of the Company. We performed a valuation on the Carried Interest to determine the Level 2 fair value measurement, using: the Option Pricing method. The significant inputs utilized in the model assumed the following: i) a risk free interest rate of 0.34%: ii) a volatility rate of 70.0%; iii) an expected time to liquidity of 3 years; iv) a discount for lack of marketability of 25% and v) expected dividend of 0%. Shared-based compensation expense with respect to the Carried Interest Agreement was $0.1 million for fiscal 2021.

Leases

Leases	12 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Leases	8. LEASES We conduct substantially all operations from leased facilities. Our retail store locations, our corporate office and our distribution center are under operating leases that will expire over the next 1 to 10 years. Many of our leases include options to renew at our discretion. We include the lease renewal option periods in the calculation of our operating lease assets and liabilities when it is reasonably certain that we will renew the lease. We also lease certain equipment under finance leases that generally expire within 5 years. In accordance with the Plan of Reorganization, on December 31, 2020, we sold our corporate office and Dallas distribution center properties and leased back those facilities. The lease of the corporate office is for a term of 10 years, and the lease of the distribution center is for an initial term of two and one-half years, with an option to extend the distribution center lease for one additional year. We believe it is reasonably certain the option to extend will be exercised. We determined the sale price represented the fair value of the underlying assets sold and have no continuing involvement with the properties sold other than a normal leaseback. The consideration received for the sale, as reduced by the closing and transaction costs, was $68.5 million, and the net book value of the properties sold was $18.9 million, resulting in a $49.6 million gain, which was recognized as of December 31, 2020. Cash proceeds were deposited directly into the Unsecured Creditor Claim Fund (See Note 2). The two leases, associated with the transaction, were recorded as operating leases. As of June 30, 2021 we will pay approximately $10.0 million in fixed rents and in-substance fixed rents, over the remaining lease term for the corporate office and we will pay approximately $16.0 million in fixed rents and in-substance fixed rents for the Dallas distribution center property over the remaining lease term, including the one-year option period as noted above. Fixed rents and in-substance fixed rents for each lease were discounted using the incremental borrowing rate we established for the respective term of each lease. In accordance with ASC 842, we determine whether an agreement contains a lease at inception based on our right to obtain substantially all of the economic benefits from the use of the identified asset and the right to direct the use of the identified asset. Lease liabilities represent the present value of future lease payments and the right-of-use (“ROU”) assets represent our right to use the underlying assets for the respective lease terms. The operating lease liability is measured as the present value of the unpaid lease payments and the ROU asset is derived from the calculation of the operating lease liability. As our leases do not generally provide an implicit rate, we use our incremental borrowing rate as the discount rate to calculate the present value of lease payments. The incremental borrowing rate represents an estimate of the interest rate that would be required to borrow over a similar term, on a collateralized basis in a similar economic environment. Rent escalations occurring during the term of the leases are included in the calculation of the future minimum lease payments and the rent expense related to these leases is recognized on a straight-line basis over the lease term. In addition to minimum lease payments, certain leases require payment of a proportionate share of real estate taxes and certain building operating expenses allocated on a percentage of sales in excess of a specified base. These variable lease costs are not included in the measurement of the ROU asset or lease liability due to unpredictability of the payment amount and are recorded as lease expense in the period incurred. The ROU asset is adjusted to account for previously recorded lease-related expenses such as deferred rent and other lease liabilities. Our lease agreements do not contain residual value guarantees or significant restrictions or covenants other than those customary in such arrangements. The components of lease cost are as follows (in thousands): Year Ended June 30, 2021 Year Ended June 30, 2020 Operating lease cost $ 62,617 $ 94,318 Variable lease cost 10,924 24,014 Amortization of right-of-use assets 210 286 Interest on lease liabilities 8 29 Total lease cost $ 73,759 $ 118,647 The table below presents additional information related to the Company’s leases as of June 30, 2021 and June 30, 2020: June 30, 2021 June 30, 2020 Weighted average remaining lease term (in years) Operating leases 4.6 5.9 Finance leases 0.7 2.6 Weighted average discount rate Operating leases 8.5 % 5.8 % Finance leases 2.4 % 3.9 % Other information related to leases, including supplemental disclosures of cash flow information, is as follows (in thousands): Year Ended June 30, 2021 Year Ended June 30, 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 64,496 $ 90,983 Operating cash flows from finance leases $ 9 $ 23 Financing cash flows from finance leases $ 217 $ 224 Right-of-use assets obtained in exchange for operating lease liabilities $ (107,497 ) $ 28,957 Maturities of lease liabilities were as follows as of June 30, 2021 (in thousands): Operating Leases Finance Leases Total Fiscal year: 2022 $ 69,461 $ 124 $ 69,585 2023 59,776 - 59,776 2024 46,086 - 46,086 2025 31,740 - 31,740 2026 19,332 - 19,332 Thereafter 28,223 - 28,223 Total lease payments $ 254,618 $ 124 $ 254,742 Less: Interest 43,746 1 43,747 Total lease liabilities $ 210,872 $ 123 $ 210,995 Less: Current lease liabilities 54,632 - 54,632 Non-current lease liabilities $ 156,240 $ 123 $ 156,363 Current and non-current finance lease liabilities recorded in “Accrued liabilities” and “Other liabilities – non-current”, respectively, on our Consolidated Balance Sheets. As of June 30, 2021, there were no operating lease payments for legally binding minimum lease payments for leases signed by not yet commenced. Rent expense for real estate leases for the fiscal years ended June 30, 2021, 2020, and 2019 was $73.5 million, $118.3 million, and $121.5 million, respectively. Total lease cost in fiscal 2021 was $73.8 million, including finance lease costs. Rent expense includes minimum base rent as well as contractually required payments for maintenance, insurance and taxes on our leased store locations and distribution centers. Total lease costs of $73.8 million for fiscal 2021 excludes $5.6 million recorded for accelerated recognition of rent expense due to our abandonment of our Phoenix distribution center. Total lease costs of $118.6 million for fiscal 2020 excluded $51.6 million of impairment recorded for operating lease right-of-use assets and $25.1 million recorded for accelerated recognition of rent expense due to planned abandonments due to our permanent store and Phoenix distribution center closing plans.

401(K) Profit Sharing Plan

401(K) Profit Sharing Plan	12 Months Ended
	Jun. 30, 2021
Compensation And Retirement Disclosure [Abstract]
401(K) Profit Sharing Plan	9. 401(K) PROFIT SHARING PLAN We have a 401(k) profit sharing plan for the benefit of our full‑time employees who become eligible after one month of service, and for our part-time employees who become eligible after both 12 months of service and a minimum of 1,000 hours worked. Under the plan, eligible employees may request us to deduct and contribute from 1% to 75% of their salary to the plan, subject to Internal Revenue Service Regulations. We match each participant’s contribution up to 4% of participant’s compensation. We expensed contributions of $1.4 million, $1.4 million, and $1.4 million for the fiscal years ended June 30, 2021, 2020, and 2019, respectively.

Earnings Per Common Share

Earnings Per Common Share	12 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Earnings Per Common Share	10. EARNINGS PER COMMON SHARE The Company uses the two-class method of computing basic EPS due to the existence of non-vested restricted stock awards with non-forfeitable rights to dividends or dividend equivalents (referred to as participating securities). Basic EPS is computed using the weighted average number of common shares outstanding during each of the respective years. Diluted EPS is computed using the weighted average number of common and common equivalent shares outstanding during each of the respective years using the more dilutive of either the treasury stock method or two-class method. The difference between basic and diluted shares, if any, largely results from common equivalent shares, which represents the dilutive effect of the assumed exercise of certain outstanding share options, the assumed vesting of restricted stock granted to employees and directors, or the satisfaction of certain necessary conditions for contingently issuable shares. The following table sets forth the computation of our basic and diluted earnings (loss) per common share (in thousands, except per share amounts): Fiscal Year Ended June 30, 2021 2020 2019 Net earnings/(loss) $ 2,982 $ (166,328 ) $ (12,440 ) Less: Income to participating securities (135 ) — — Net earnings/(loss) attributable to common shares $ 2,847 $ (166,328 ) $ (12,440 ) Weighted average common shares outstanding—basic 60,584 45,208 44,719 Effect of dilutive stock equivalents 1,105 — — Weighted average common shares outstanding—dilutive 61,689 45,208 44,719 Net earnings/(loss) per common share—basic $ 0.05 $ (3.68 ) $ (0.28 ) Net earnings/(loss) per common share—diluted $ 0.05 $ (3.68 ) $ (0.28 ) For June 30, 2021, 2020 and 2019, options and awards representing the rights to purchase approximately 2.8 million, 3.9 million and 4.8 million weighted average shares respectively, were excluded in the dilutive earnings per share calculation because the assumed exercise of such options would have been anti-dilutive. On February 9, 2021, as part of the Rights Offering, the Company issued warrants to purchase 10 million shares of common stock with an exercise price of $1.65 and a five year term, all which remained outstanding as of June 30, 2021.

Related Party

Related Party	12 Months Ended
	Jun. 30, 2021
Related Party Transactions [Abstract]
Related Party	11. Related Party On November 16, 2020, following approval of the Bankruptcy Court, the Company and Osmium Partners LLC (“Osmium Partners”) entered into a backstop commitment agreement (the “Backstop Commitment Agreement”), pursuant to which Osmium Partners agreed that Osmium Partners or an affiliate would serve as the backstop party (the “Backstop Party”) and purchase all unsubscribed shares in the $40 million Rights Offering described in Note 7 above. Osmium Partners (Larkspur SPV) LP (“Larkspur SPV”), jointly owned by Osmium Partners and Tensile Capital Partners Master Fund LP (“TCM”), was formed to serve as the Backstop Party. In addition, on November 15, 2020, the Company and TCM entered into a commitment letter (the “Commitment Letter”) pursuant to which TCM agreed to provide $25 million in subordinated debt financing to the Company. In accordance with the Plan of Reorganization and the Commitment Letter, on December 31, 2020, the Company, Alter Domus (US), LLC, as administrative agent, and the lenders named therein, including TCM and an affiliate of Osmium, entered into the Term Loan Credit Agreement described in Note 3 above which provided for the $25 million Term Loan to the Company. In accordance with the Plan of Reorganization and the Backstop Commitment Agreement, on December 31, 2020, the Company, Osmium Partners and Larkspur SPV (Osmium Partners and Larkspur SPV together, the “Osmium Group”) entered into an agreement pursuant to which the Osmium Group is entitled to appoint three directors to the Company’s Board of Directors (the “Directors Agreement”). Pursuant to the Directors Agreement, Douglas J. Dossey of Tensile Capital Management LP, John H. Lewis of Osmium Partners and W. Paul Jones were appointed as members of the Company’s Board of Directors. The Directors Agreement entitles the Osmium Group to appoint an additional member of the Board of Directors under certain circumstances. The Directors Agreement also specifies various other board-related and voting-related procedures and includes a standstill provision limiting certain actions by the Osmium Group. The full text of the Directors Agreement is included as Exhibit 10.35 to this Annual Report on Form 10-K. On February 9, 2021, the Company received proceeds of approximately $40 million upon the closing of the Rights Offering, as contemplated by the Plan of Reorganization. In accordance with the terms of the Backstop Commitment Agreement, Larkspur SPV purchased 18,340,411 shares of the Company’s common stock in the Rights Offering for an aggregate purchase price of approximately $20.2 million. In addition, in accordance with the Plan of Reorganization and the Backstop Commitment Agreement, Larkspur SPV received (1) 1,818,182 additional shares of the Company’s common stock as payment of the commitment fee for serving as Backstop Party in the Rights Offering, and (2) a warrant to purchase 10 million additional shares of the Company’s common stock at a purchase price of $1.65 per share. Based on Schedule 13D filings made by Osmium Partners and TCM, and their respective affiliates, on February 19, 2021, Osmium Partners and TCM each are deemed to beneficially own the 30,158,593 shares of the Company’s stock beneficially owned by Larkspur SPV (representing approximately 31.4% of outstanding shares), and Osmium Partners beneficially owns an additional 3,004,840 shares of the Company’s common stock.

Nature of Operations and Summ_2

Nature of Operations and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation	(a) Basis of Presentation —The accompanying consolidated financial statements include the accounts of Tuesday Morning Corporation, a Delaware corporation, and its wholly‑owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. We operate our business as a single operating segment. Certain reclassifications were made to prior period amounts to conform to the current period presentation. None of the reclassifications affected our net earnings/( loss ) in any period. We do not present a separate statement of comprehensive income, as we have no other comprehensive income items.
Use of Estimates	(b) Use of Estimates
Cash and Cash Equivalents	(c) Cash and Cash Equivalents
Restricted Cash	(d) Restricted Cash
Inventories	( e ) Inventories Stores conduct annual physical inventories, staggered during the second half of the fiscal year. During periods in which physical inventory observations do not occur, we utilize an estimate for recording inventory shrink based on the historical results of our previous physical inventories. The estimated shrink rate may require a favorable or unfavorable adjustment to costs of sales based on actual results to the extent that our subsequent actual physical inventory yields a different result. Although inventory shrink rates have not fluctuated significantly in recent years, if the actual rate were to differ from our estimates, then an adjustment to inventory shrink would be required. We review our inventory during and at the end of each quarter to ensure that all necessary pricing actions are taken to adequately value our inventory at the lower of cost or market by recording permanent markdowns to our on-hand inventory. Management believes these markdowns result in the appropriate prices necessary to stimulate demand for the merchandise. Actual recorded permanent markdowns could differ materially from management’s initial estimates based on future customer demand or economic conditions.
Property and Equipment	( f ) Property and Equipment Estimated Useful Lives Furniture and fixtures 3 to 7 years Leasehold improvements Shorter of useful life or lease term Equipment 5 to 10 years Assets under finance lease Shorter of useful life or lease term Software 3 to 10 years Upon sale or retirement of an asset, the related cost and accumulated depreciation are removed from our balance sheet and any gain or loss is recognized in the statement of operations. Expenditures for maintenance, minor renewals and repairs are expensed as incurred, while major replacements and improvements are capitalized.
Deferred Financing Costs	( g ) Deferred Financing Costs
Income Taxes	( h ) Income Taxes We file our annual federal income tax return on a consolidated basis. Furthermore, we recognize uncertain tax positions when we have determined it is more likely than not that a tax position will be sustained upon examination. However, new information may become available, or applicable laws or regulations may change, thereby resulting in a favorable or unfavorable adjustment to amounts recorded. On March 27, 2020, in an effort to mitigate the economic impact of the COVID-19 pandemic, the U.S. Congress enacted the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”). The CARES Act included certain corporate income tax provisions, which among other things, included a five-year carryback of net operating losses and acceleration of the corporate AMT credit. The Company has evaluated the CARES Act and it did not have a material impact on the income tax provision. The CARES Act also contains provisions for deferral of the employer portion of social security taxes incurred through the end of calendar 2020 and an employee retention credit, a refundable payroll credit for 50% of wages and health benefits paid to employees not providing services due to the pandemic. As a result of the CARES Act, we continued to defer qualified payroll taxes through December 31, 2020. Current and non-current qualified deferred payroll taxes are each $2.1 million as of June 30, 2021. Payroll taxes were deferred through December 31, 2020. Half of the deferral is due on December 31, 2021 and the other half is due on December 31, 2022.
Self Insurance Reserves	( i ) Self-Insurance Reserves The insurance liabilities we record are primarily influenced by the frequency and severity of claims, and include a reserve for claims incurred but not yet reported. Our estimated reserves may be materially different from our future actual claim costs, and, when required adjustments to our estimate reserves are identified, the liability will be adjusted accordingly in that period. Our self‑insurance reserves for workers’ compensation, general liability and medical were $7.3 million, $1.2 million, and $1.0 million, respectively, at June 30, 2021, and $8.4 million, $1.3 million, and $0.9 million, respectively, at June 30, 2020. We recognize insurance expenses based on the date of an occurrence of a loss including the actual and estimated ultimate costs of our claims. Claims are paid from our reserves and our current period insurance expense is adjusted for the difference in prior period recorded reserves and actual payments as well as changes in estimated reserves. Current period insurance expenses also include the amortization of our premiums paid to our insurance carriers. Expenses for workers’ compensation, general liability and medical insurance were $1.4 million, $3.7 million and $7.8 million, respectively, for the fiscal year ended June 30, 2021, $2.7 million, $3.3 million and $8.7 million, respectively, for the fiscal year ended June 30, 2020, and $2.1 million, $2.3 million and $7.9 million, respectively, for the fiscal year ended June 30, 2019.
Revenue Recognition	(j) Revenue Recognition Our revenue is earned from sales of merchandise within our stores and is recorded at the point of sale and conveyance of merchandise to customers. Revenue is measured based on the amount of consideration that we expect to receive, reduced by point of sale discounts and estimates for sales returns, and excludes sales tax. Payment for our sales is due at the time of sale. We maintain a reserve for estimated sales returns, and we use historical customer return behavior to estimate our reserve requirements. ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606) (“ASC 606”) was adopted in the first quarter of fiscal 2019. No impairment of the returns asset was indicated or recorded for the fiscal year ended June 30, 2021. Gift cards are sold to customers in our stores and we issue gift cards for merchandise returns in our stores. Revenue from sales of gift cards and issuances of merchandise credits is recognized when the gift card is redeemed by the customer, or if the likelihood of the gift card being redeemed by the customer is remote (“gift card breakage”). The gift card breakage rate is determined based upon historical redemption patterns. An estimate of the rate of gift card breakage is applied over the period of estimated performance and the breakage amounts are included in net sales in the Consolidated Statement of Operations. Breakage income recognized was $0.4 million, $0.8 million and $0.4 million for the fiscal years ended June 30, 2021, 2020 and 2019, respectively. The gift card liability totals $1.0 million and $1.3 million included in “Accrued Liabilities” in the Consolidated Balance Sheet at June 30, 2021 and 2020, respectively (See Note 5) .
Advertising	( k ) Advertising
Share-Based Compensation	( l ) Share‑Based Compensation Compensation-Stock Compensation During fiscal year ended June 30, 2021, no stock options were granted. The fair value of each stock option granted during the fiscal years ended June 30, 2020 and 2019 was estimated at the date of grant using a Black‑Scholes option pricing model, using the following assumptions: Fiscal Years Ended June 30, 2021 2020 2019 Risk-free interest rate - 2.4% 2.3 - 2.9% Expected term (years) - 4.6 3.8 - 5.0 Expected stock volatility - 64.8% 49.0 - 64.8% Expected dividend yield - 0.0% 0.0% • Risk‑free interest rate - the risk‑free interest rate is the constant maturity risk-free interest rate for U.S. Treasury instruments with terms consistent with the expected lives of the awards. • Expected term - the expected term of an option is based on our historical review of employee exercise behavior based on the employee class (executive or non‑executive) and based on our consideration of the remaining contractual term if limited exercise activity existed for a certain employee class. • Expected stock volatility - the expected stock volatility is based on both the historical volatility of our stock based on our historical stock prices and implied volatility of our traded stock options. • Expected dividend yield - the expected dividend yield is based on our expectation of not paying dividends on our common stock for the foreseeable future.
Net Earnings/(Loss) Per Common Share	( m ) Net Earnings/(Loss) Per Common Share
Impairment of Long-Lived Assets and Long-Lived Assets to Be Disposed Of	( n ) Impairment of Long‑Lived Assets and Long‑Lived Assets to Be Disposed Of Long‑lived assets, principally property and equipment, including leasehold improvements, and lease right-of-use assets are reviewed for impairment when, in management’s judgment, events or changes in circumstances indicate that the carrying amount of an asset (or asset group) may not be recoverable. If the carrying value of the asset or asset group exceeds the undiscounted cash flows expected to result from the use and eventual disposition of the asset group, the Company will write the carrying value down to the fair value in the period identified. Since there is typically no active market for our long-lived tangible assets, we estimate fair values based on the expected future cash flows. We estimate future cash flows based on store-level historical results, current trends, and operating and cash flow projections. While we believe our estimates and judgments about future cash flows are reasonable, future impairment charges may be required if the expected cash flow estimates, as projected, do not occur or if events change requiring us to revise our estimates. Assets subject to fair value measurement under ASC 820, “Fair Value Measurement”, are categorized into one of three different levels of the fair value hierarchy depending on the observability of the inputs employed in the measurement, as follows: • • • Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell. See Note 4 and Note 8 for additional information.
Intellectual Property	( o ) Intellectual Property Due to change in the Company’s management in the fourth quarter of fiscal 2021 and their future strategy related to the reduced use of certain intellectual properties, the Company concluded the assets no longer held value which resulted in a $1.6 million impairment of the intangible assets.
Asset Retirement Obligations	( p ) Asset Retirement Obligations Asset Retirement and Environmental Obligations For leases that contractually result in an ARO, we record the net present value of the ARO liability and also record a related capital asset, in an equal amount. The estimated ARO liability is based on a number of assumptions, including costs to return facilities back to specified conditions, inflation rates and discount rates. Accretion expense related to the ARO liability is recognized as operating expense in our Consolidated Statements of Operations. The capitalized asset is depreciated on a straight-line basis over the useful life of the related leasehold improvements. Upon ARO fulfillment, any difference between the actual retirement expense incurred and the recorded estimated ARO liability is recognized as an operating gain or loss in our Consolidated Statements of Operations. Our ARO liability, which totaled $1.0 million as of June 30, 2021 is included in “Asset retirement obligation—non-current” on our Consolidated Balance Sheet at June 30, 2021. Our ARO liability, which totaled $2.8 million as of June 30, 2020 was comprised of a $1.6 million short-term portion included in accrued liabilities and a $1.2 million long-term portion included in “Asset retirement obligation—non-current” on our Consolidated Balance Sheet.
Leases	( q ) Leases We adopted Accounting Standards Update (“ASU”) No. 2016-02, “Leases (Topic 842)” (“ASC 842”) effective July 1, 2019 using the modified retrospective adoption method, which resulted in an adjustment to opening retained earnings of $0.6 million as of July 1, 2019 to recognize impairment of the opening right-of-use asset balance for two stores for which assets had been previously impaired under ASC 360, “Property, Plant, and Equipment.” We utilized the simplified transition option available in ASC 842, which allowed the continued application of the legacy guidance in ASC 840, including disclosure requirements, in the comparative periods presented in the year of adoption. In addition, subsequent to the petition date noted above, we commenced negotiations with our landlords on substantially all of our ongoing leases, resulting in significant modifications and remeasurement recorded in the fiscal 2021. As a result of the remeasurements and terminations of rejected leases, we reduced our operating lease right-of-use assets by approximately $31 million and our operating lease liabilities by approximately $124 million, recording a gain of approximately $93 million, which would have been reduced by the $80.1 million impairment loss recorded on right-of-use lease assets in fiscal 2020, if the liability had been adjusted in the same fiscal year. The results of our fourth quarter fiscal 2020 impairment analysis indicated an impairment of our property and equipment as well as operating lease right-of-use assets at approximately 200 of our stores along with property and equipment of our Phoenix distribution center facility totaling $80.1 million, which is included in restructuring costs in the consolidated statement of operations for fiscal 2020. The impairments were the result of closing plans for these stores and the Phoenix distribution center. The $93 million gain was further reduced by an amount of estimated claims allowable by the bankruptcy court, resulting in a $66 million net gain which is included in Reorganization items, net (see Note 2) in the Consolidated Statement of Operations.
Legal Proceedings	( r ) Legal Proceedings In addition, we are involved in legal and governmental proceedings as part of the normal course of our business. Reserves have been established when a loss is considered probable and are based on management’s best estimates of our potential liability in these matters. These estimates have been developed in consultation with internal and external counsel and are based on a combination of litigation and settlement strategies. Management believes that such litigation and claims will be resolved without material effect on our financial position or results of operations.
Recent Accounting Pronouncements	( s ) Recent Accounting Pronouncements In December 2019, the Financial Accounting Standards Board (“FASB”) issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. This ASU is effective for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years, with early adoption permitted. The adoption of this standard in the first quarter of fiscal 2022 is not expected to result in a material impact to the Company’s financial statements. In August 2018, the FASB issued ASU 2018-15, Intangibles-Goodwill and Other-Internal Use Software: Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. ASU 2018-15 aligns the requirements for capitalizing implementation costs incurred in a cloud computing arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. ASU 2018-15 is effective for public companies for annual reporting periods beginning after December 15, 2019, and interim periods within those fiscal years. We adopted ASU 2018-15 in the first quarter of fiscal 2021 and it did not have a material impact on our results of operations, financial condition or cash flows. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement, the purpose of which is to improve the effectiveness of disclosures about fair value measurements required under ASC 820. This ASU is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years, with early adoption permitted. We adopted ASU 2018-13 in the first quarter of fiscal 2021 and it did not have a material impact on our results of operations, financial condition or cash flows. In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments – Credit Losses (Topic 326)” (“ASC 326”), which makes significant changes to the accounting for credit losses on financial assets and disclosures. The standard requires immediate recognition of management’s estimates of current expected credit losses. We adopted ASC 326 in the first quarter of fiscal 2021 and it did not have a material impact on our results of operations, financial condition or cash flows.

Nature of Operations and Summ_3

Nature of Operations and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Summary of Property and Equipment Estimated Useful Lives	Furniture and fixtures 3 to 7 years Leasehold improvements Shorter of useful life or lease term Equipment 5 to 10 years Assets under finance lease Shorter of useful life or lease term Software 3 to 10 years
Schedule of Fair Value Assumptions of Stock Option Granted	Fiscal Years Ended June 30, 2021 2020 2019 Risk-free interest rate - 2.4% 2.3 - 2.9% Expected term (years) - 4.6 3.8 - 5.0 Expected stock volatility - 64.8% 49.0 - 64.8% Expected dividend yield - 0.0% 0.0%

Bankruptcy Accounting (Tables)

Bankruptcy Accounting (Tables)	12 Months Ended
	Jun. 30, 2021
Reorganizations [Abstract]
Schedule of Liabilities Subject to Compromise in Bankruptcy Reorganization Process	Liabilities subject to compromise in our condensed consolidated balance sheet include the following as of June 30, 2021 and 2020 (in thousands): June 30, 2021 2020 Accounts payable $ - $ 83,467 Accrued expenses - 6,630 Operating lease liabilities - 71,097 Lease liabilities - non-current - 294,812 Other liabilities - non-current - 333 Liabilities subject to compromise $ - $ 456,339
Schedule of Restructuring and Abandonment Charges	Restructuring and abandonment charges total $10.8 million and $113.5 million for the years-ended June 30, 2021 and 2020, respectively, and include the following (in thousands): Fiscal Year Ended June 30, 2021 2020 Restructuring costs: Professional fees $ - $ 5,212 Severance and compensation related costs 3,557 3,122 Total restructuring costs $ 3,557 $ 8,334 Impairment costs: Store long-lived assets $ - $ 11,656 Distribution center long-lived assets - 16,794 Operating lease right-of-use assets - 51,626 Intangible asset 1,639 - Total impairment costs $ 1,639 $ 80,076 Abandonment costs: Accelerated recognition of operating lease right-of-use assets 5,638 25,082 Total abandonment costs $ 5,638 $ 25,082 Total restructuring, impairment and abandonment costs $ 10,834 $ 113,492
Schedule of Reorganization Items	Reorganization items, net, included in our consolidated statement of operations represent amounts resulting from the Chapter 11 Cases and resulted in a net gain of $60.0 million and a net loss of $3.6 million for the years ended June 30, 2021 and 2020 respectively, and include the following (in thousands): Fiscal Year Ended June 30, 2021 2020 Reorganization items, net: Professional and legal fees $ 34,579 $ 3,619 Gains on lease termination, net of estimated claims (66,247 ) - Claims related costs 1,302 - Rights Offering and Backstop Agreement 19,990 - Gain on sale-leaseback (49,639 ) - Total reorganization items, net $ (60,015 ) $ 3,619

Debt (Tables)

Debt (Tables)	12 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Summary of Term Loan	Term Loan June 30, 2021 2020 Loan balance, at December 31, 2020 $ 25,000 - Debt issuance costs (432 ) - Accrued paid-in-kind interest 1,806 - Loan balance, at June 30, 2021 $ 26,374 -

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	12 Months Ended
	Jun. 30, 2021
Property Plant And Equipment [Abstract]
Schedule of Property and Equipment, Net of Accumulated Depreciation	Property and equipment, net of accumulated depreciation, consisted of the following (in thousands): June 30, 2021 2020 Land $ - $ 6,628 Buildings and building improvements - 43,215 Furniture and fixtures 47,587 63,755 Equipment 50,231 68,909 Software 41,575 50,691 Leasehold improvements 49,651 65,281 Assets under finance lease 681 1,223 189,725 299,702 Less accumulated depreciation (151,941 ) (231,067 ) Net property and equipment $ 37,784 $ 68,635

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	12 Months Ended
	Jun. 30, 2021
Payables And Accruals [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities consisted of the following (in thousands): June 30, 2021 2020 Sales and use tax $ 2,698 $ 5,027 Self-insurance reserves 9,405 10,631 Wages, benefits and payroll taxes 9,639 2,303 Property taxes 1,510 1,809 Freight and distribution 8,658 1,620 Capital expenditures 348 - Utilities 1,466 791 Advertising 613 69 Gift card liability 1,045 1,281 Asset retirement obligation 3 1,598 Reorganization expenses 6,337 3,544 Other expenses 4,732 5,269 Total accrued liabilities $ 46,454 $ 33,942

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Schedule of Income Tax Provision (Benefit)	Income tax provision/(benefit) consisted of the following (in thousands): Current Deferred Total Fiscal Year Ended June 30, 2021 Federal $ — $ 20 $ 20 State and local 267 4 271 Total $ 267 $ 24 $ 291 Fiscal Year Ended June 30, 2020 Federal $ (286 ) $ 306 $ 20 State and local 196 5 201 Total $ (90 ) $ 311 $ 221 Fiscal Year Ended June 30, 2019 Federal $ (286 ) $ 303 $ 17 State and local 225 4 229 Total $ (61 ) $ 307 $ 246
Reconciliation of Income Taxes Computed at Blended Statutory Federal Income Tax Rate	A reconciliation between income taxes computed at the statutory federal income tax rate of 21%. Income taxes recognized in the Consolidated Statements of Operations was as follows (in thousands): Fiscal Year Ended June 30, 2021 2020 2019 Federal income tax benefit computed at statutory rate $ 687 $ (34,883 ) $ (2,561 ) State income taxes, net of related federal tax benefit 214 159 181 Increase/(decrease) in federal valuation allowance (11,637 ) 34,586 2,291 Federal tax credits (113 ) (91 ) (294 ) Stock option expiration/deficiencies 250 620 548 Warrant issue expenses 4,324 - - Reorganization expenses 6,202 - - Other, net 364 (170 ) 81 Provision for income taxes $ 291 $ 221 $ 246
Schedule of Deferred Tax Assets and Liabilities	Significant components of our deferred tax assets and liabilities as of June 30, 2021 and 2020, all of which are classified as non-current in our Consolidated Balance Sheets, were comprised of the following (in thousands): June 30, 2021 2020 Deferred tax assets: Other payroll and benefits $ 1,182 $ 189 Inventory reserves 931 1,516 Self-insurance reserves 2,318 2,620 Share-based compensation 1,800 1,648 Other current assets 1,160 1,288 Operating lease liabilities 52,008 87,073 Property and equipment 727 3,208 Disallowed interest expense 2,954 942 Net operating loss and tax credits 41,833 38,096 Other noncurrent assets 556 191 Total gross deferred tax assets $ 105,469 $ 136,771 Deferred tax liabilities: Inventory costs $ 2,924 $ 4,371 Prepaid supplies 1,353 1,174 Operating lease - right of use 47,627 63,694 Total gross deferred tax liabilities 51,904 69,239 Valuation allowance (53,683 ) (67,626 ) Net deferred tax liability $ (118 ) $ (94 )
Schedule of Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits	A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands): Balance at June 30, 2018 $ 147 Additions for tax positions of prior years — Reductions for lapse of statute of limitations — Balance at June 30, 2019 $ 147 Additions for tax positions of prior years — Reductions for lapse of statute of limitations — Balance at June 30, 2020 $ 147 Additions for tax positions of prior years — Reductions for lapse of statute of limitations — Balance at June 30, 2021 $ 147

Common Stock & Share-Based In_2

Common Stock & Share-Based Incentive Plans (Tables)	12 Months Ended
	Jun. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Transactions Relating to Options	Following is a summary of transactions relating to the 2008 Plan and 2014 Plan options for the fiscal years ended June 30, 2021, 2020, and 2019: Number of Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Options Outstanding at June 30, 2018 3,957,243 $ 6.30 7.21 $ 475,381 Granted during year 536,877 3.22 Exercised during the year (3,105 ) 2.10 Forfeited or expired during year (792,972 ) 7.38 Options Outstanding at June 30, 2019 3,698,043 5.63 7.10 - Granted during year 12,000 1.64 Exercised during the year - - Forfeited or expired during year (1,015,427 ) 6.22 Options Outstanding at June 30, 2020 2,694,616 5.33 6.11 - Granted during year - - Exercised during the year (22,308 ) 1.98 Forfeited or expired during year (327,565 ) 5.37 Options Outstanding at June 30, 2021 2,344,743 $ 5.36 4.70 $ 1,642,845 Options Exercisable at June 30, 2021 2,019,170 $ 4.43 $ 1,121,354
Summary of Information about Stock Options Outstanding	The following table summarizes information about stock options outstanding at June 30, 2021: Options Outstanding Options Exercisable Range of Exercise Prices Number Outstanding Weighted Average Remaining Contractual Life (Years) Weighted Average Exercise Price Per Share Number Exercisable Weighted Average Exercise Price Per Share $1.64 - $2.10 151,483 5.91 $ 2.03 118,353 $ 2.07 $2.45 - $2.45 348,036 5.58 2.45 261,029 2.45 $3.12 - $3.12 15,000 6.86 3.12 11,250 3.12 $3.25 - $3.25 411,571 6.49 3.25 209,885 3.25 $3.95 - $5.59 104,390 2.64 4.84 104,390 4.84 $5.64 - $5.64 376,101 3.66 5.64 376,101 5.64 $5.95 - $5.95 272,825 3.61 5.95 272,825 5.95 $6.71 - $6.71 367,485 4.75 6.71 367,485 6.71 $7.90 - $14.72 244,894 3.42 9.42 244,894 9.42 $18.42 - $19.36 52,958 3.42 18.96 52,958 18.96 2,344,743 4.70 5.36 2,019,170 5.76
Summary of Information about Restricted and Performance Stock Units and Awards Granted and Outstanding	The following table summarizes information about restricted stock units, performance stock units, restricted stock awards and performance stock awards granted and outstanding for the fiscal years ended June 30, 2021, 2020, and 2019: Restricted and Performance Stock Units Number of Shares Weighted- Average Fair Value at Date of Grant Restricted and Performance Stock Awards Number of Shares Weighted- Average Fair Value at Date of Grant Outstanding at June 30, 2018 - $ - 1,433,269 $ 3.95 Granted during year 57,693 3.25 1,039,050 3.09 Vested during year - 3.25 (421,359 ) 4.59 Forfeited during year - - (211,099 ) 3.63 Outstanding at June 30, 2019 57,693 $ 3.25 1,839,861 $ 3.36 Granted during year 57,693 1.58 1,422,927 1.63 Vested during year (57,693 ) 1.58 (446,987 ) 3.55 Forfeited during year - - (836,321 ) 2.38 Outstanding at June 30, 2020 57,693 $ 3.25 1,979,480 $ 2.43 Granted during year 3,021,924 2.81 1,121,250 1.50 Vested during year (57,693 ) 1.91 (595,190 ) 2.26 Forfeited during year - - (797,172 ) 2.29 Outstanding at June 30, 2021 3,021,924 $ 2.83 1,708,368 $ 1.94
Summary of Activity of Cash Settled Awards	The following table summarizes the activity of cash settled awards during fiscal 2021: Performance Service Based Based Total Outstanding at June 30, 2020 287,350 861,056 1,148,406 Grant during year - - - Vested during year - (208,328 ) (208,328 ) Forfeited during year (143,675 ) (105,030 ) (248,705 ) Outstanding at June 30, 2021 143,675 547,698 691,373
Schedule of Recognized Share-Based Compensation Costs	We recognized share‑based compensation costs as follows (in thousands): Fiscal Years Ended June 30, 2021 2020 2019 Amortization of share-based compensation during the period $ 1,851 $ 2,555 $ 3,488 Amounts capitalized in inventory (410 ) (681 ) (1,114 ) Amount recognized and charged to cost of sales 613 846 1,162 Amounts charged against income for the period before tax $ 2,054 $ 2,720 $ 3,536

Leases (Tables)

Leases (Tables)	12 Months Ended
	Jun. 30, 2021
Leases [Abstract]
Components of Lease Cost	The components of lease cost are as follows (in thousands): Year Ended June 30, 2021 Year Ended June 30, 2020 Operating lease cost $ 62,617 $ 94,318 Variable lease cost 10,924 24,014 Amortization of right-of-use assets 210 286 Interest on lease liabilities 8 29 Total lease cost $ 73,759 $ 118,647
Schedule of Additional Information Related to Leases	The table below presents additional information related to the Company’s leases as of June 30, 2021 and June 30, 2020: June 30, 2021 June 30, 2020 Weighted average remaining lease term (in years) Operating leases 4.6 5.9 Finance leases 0.7 2.6 Weighted average discount rate Operating leases 8.5 % 5.8 % Finance leases 2.4 % 3.9 %
Schedule of Other Information Related to Leases Including Supplemental Disclosures of Cash Flow Information	Other information related to leases, including supplemental disclosures of cash flow information, is as follows (in thousands): Year Ended June 30, 2021 Year Ended June 30, 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 64,496 $ 90,983 Operating cash flows from finance leases $ 9 $ 23 Financing cash flows from finance leases $ 217 $ 224 Right-of-use assets obtained in exchange for operating lease liabilities $ (107,497 ) $ 28,957
Schedule of Maturities of Lease Liabilities	Maturities of lease liabilities were as follows as of June 30, 2021 (in thousands): Operating Leases Finance Leases Total Fiscal year: 2022 $ 69,461 $ 124 $ 69,585 2023 59,776 - 59,776 2024 46,086 - 46,086 2025 31,740 - 31,740 2026 19,332 - 19,332 Thereafter 28,223 - 28,223 Total lease payments $ 254,618 $ 124 $ 254,742 Less: Interest 43,746 1 43,747 Total lease liabilities $ 210,872 $ 123 $ 210,995 Less: Current lease liabilities 54,632 - 54,632 Non-current lease liabilities $ 156,240 $ 123 $ 156,363

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	12 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings (Loss) Per Common Share	The following table sets forth the computation of our basic and diluted earnings (loss) per common share (in thousands, except per share amounts): Fiscal Year Ended June 30, 2021 2020 2019 Net earnings/(loss) $ 2,982 $ (166,328 ) $ (12,440 ) Less: Income to participating securities (135 ) — — Net earnings/(loss) attributable to common shares $ 2,847 $ (166,328 ) $ (12,440 ) Weighted average common shares outstanding—basic 60,584 45,208 44,719 Effect of dilutive stock equivalents 1,105 — — Weighted average common shares outstanding—dilutive 61,689 45,208 44,719 Net earnings/(loss) per common share—basic $ 0.05 $ (3.68 ) $ (0.28 ) Net earnings/(loss) per common share—diluted $ 0.05 $ (3.68 ) $ (0.28 )

Nature of Operations and Summ_4

Nature of Operations and Summary of Significant Accounting Policies - Narrative (Details)	Jan. 04, 2021shares	Jul. 15, 2020Store	Jun. 08, 2020Store	Mar. 25, 2020Store	Dec. 31, 2020Director	Sep. 30, 2020Store	Jun. 30, 2020USD ($)Store	Jun. 30, 2021USD ($)StoreStateshares	Jun. 30, 2020USD ($)Storeshares	Jun. 30, 2019USD ($)Store	Jul. 01, 2019USD ($)	Jun. 30, 2018USD ($)
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Number of discount retail stores operated | Store							685	490	685	714
Number of states in which the entity operates | State								40
Number of stores temporarily closed | Store				687
Number of stores reopened | Store							685		685
Number of stores permanently closed | Store						197	2
Petition date								May 27, 2020
Number of store locations in process to close | Store			132
Number of stores expect to close | Store		65
Credit card receivables from third party consumer credit card providers							$ 3,700,000	$ 3,200,000	$ 3,700,000
Restricted cash								22,321,000
Capitalized inventory costs expensed in cost of sales								95,100,000	97,800,000	$ 106,600,000
Capitalized cost in inventory							22,300,000	24,200,000	22,300,000
Current and non-current qualified deferred payroll taxes CARES Act								2,100,000
Impairment charges							80,100,000	1,639,000	80,076,000
Gift card liability							1,281,000	1,045,000	1,281,000
Advertising expenses								$ 8,300,000	18,600,000	26,500,000
Stock options granted | shares								0
Impairment of intangible assets								$ 1,639,000
Asset retirement obligations							2,800,000	1,000,000	2,800,000
Short-term asset retirement obligations							1,598,000	3,000	1,598,000
Long-term asset retirement obligations liability							1,213,000	$ 1,021,000	1,213,000
Existence of option to renew								true
Cumulative effect adjustment to retained earnings							$ 6,935,000	$ 71,801,000	6,935,000	171,309,000		$ 180,254,000
Reduction of operating lease right-of-use assets upon remeasurements and termination of rejected leases								31,000,000
Reduction of operating lease liabilities upon remeasurements and termination of rejected leases								124,000,000
Gain on terminations of rejected leases								93,278,000
Number of stores impaired | Store							200
Gain on lease liabilities of estimated claims								66,247,000
Cumulative Effect Period of Adoption Adjustment
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Cumulative effect adjustment to retained earnings										(601,000)
Retained Earnings
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Cumulative effect adjustment to retained earnings							$ (230,729,000)	$ (227,747,000)	(230,729,000)	(63,800,000)		$ (51,360,000)
Retained Earnings | Cumulative Effect Period of Adoption Adjustment
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Cumulative effect adjustment to retained earnings										(601,000)
Distribution Center and Retail Store Location | Minimum
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Operating lease term of contract								1 year
Distribution Center and Retail Store Location | Maximum
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Operating lease term of contract								10 years
Equipment | Maximum
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Finance lease term of contract								5 years
Intellectual Property
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Impairment of intangible assets								$ 1,600,000
Accounting Standards Update 2014-09
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Impairment charges								0
Accounting Standards Update 2014-09 | Breakage
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Breakage income recognized								$ 400,000	800,000	400,000
ASU 2016-02
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Change in accounting principle, accounting standards update, adopted [true false]								true
Change in accounting principle, accounting standards update, adoption date								Jul. 1, 2019
ASU adoption extensible list								ASU 2016-02
ASU 2016-02 | Retained Earnings | Cumulative Effect Period of Adoption Adjustment
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Cumulative effect adjustment to retained earnings											$ 600,000
ASU 2018-15
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Change in accounting principle, accounting standards update, adopted [true false]								true
Change in accounting principle, accounting standards update, immaterial effect [true false]								true
ASU 2018-13
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Change in accounting principle, accounting standards update, adopted [true false]								true
Change in accounting principle, accounting standards update, immaterial effect [true false]								true
ASU No. 2016-13
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Change in accounting principle, accounting standards update, adopted [true false]								true
Change in accounting principle, accounting standards update, immaterial effect [true false]								true
Accrued Liabilities | Accounting Standards Update 2014-09
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Gift card liability							1,300,000	$ 1,000,000	1,300,000
Worker's compensation
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Stop loss limits per claim								500,000
Self insurance reserve							8,400,000	7,300,000	8,400,000
Insurance expenses recognized								1,400,000	2,700,000	2,100,000
General liability
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Stop loss limits per claim								250,000
Self insurance reserve							1,300,000	1,200,000	1,300,000
Insurance expenses recognized								3,700,000	3,300,000	2,300,000
Medical liabilities
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Stop loss limits per claim								150,000
Self insurance reserve							$ 900,000	1,000,000	900,000
Insurance expenses recognized								$ 7,800,000	$ 8,700,000	$ 7,900,000
Backstop Commitment Agreement
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Number of directors | Director					9
Number of continuing directors | Director					5
Backstop Commitment Agreement | Osmium Partners LLC
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Number of new shares exchanged for business close | shares	1								1
Backstop Commitment Agreement | Backstop Party
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Number of new directors appointed | Director					3
Backstop Commitment Agreement | Equity Committee
Nature Of Operations And Summary Of Significant Accounting Policies [Line Items]
Number of new directors appointed | Director					1

Nature of Operations and Summ_5

Nature of Operations and Summary of Significant Accounting Policies - Summary of Property and Equipment Estimated Useful Lives (Details)	12 Months Ended
	Jun. 30, 2021
Furniture and Fixtures | Minimum
Property Plant And Equipment [Line Items]
Estimated useful life (in years)	3 years
Furniture and Fixtures | Maximum
Property Plant And Equipment [Line Items]
Estimated useful life (in years)	7 years
Leasehold Improvements
Property Plant And Equipment [Line Items]
Estimated useful life of Leasehold improvements	Shorter of useful life or lease term
Equipment | Minimum
Property Plant And Equipment [Line Items]
Estimated useful life (in years)	5 years
Equipment | Maximum
Property Plant And Equipment [Line Items]
Estimated useful life (in years)	10 years
Assets Under Finance Lease
Property Plant And Equipment [Line Items]
Estimated useful life of Leasehold improvements	Shorter of useful life or lease term
Software | Minimum
Property Plant And Equipment [Line Items]
Estimated useful life (in years)	3 years
Software | Maximum
Property Plant And Equipment [Line Items]
Estimated useful life (in years)	10 years

Nature of Operations and Summ_6

Nature of Operations and Summary of Significant Accounting Policies - Schedule of Fair Value Assumptions of Stock Option Granted (Details)	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Factors used in estimating the fair value of each stock option granted
Risk-free interest rate	2.40%
Risk-free interest rate, minimum		2.30%
Risk-free interest rate, maximum		2.90%
Expected term (years)	4 years 7 months 6 days
Expected stock volatility (as a percent)	64.80%
Expected stock volatility, minimum (as a percent)		49.00%
Expected stock volatility, maximum (as a percent)		64.80%
Expected dividend yield (as a percent)	0.00%	0.00%
Minimum
Factors used in estimating the fair value of each stock option granted
Expected term (years)		3 years 9 months 18 days
Maximum
Factors used in estimating the fair value of each stock option granted
Expected term (years)		5 years

Bankruptcy Accounting - Narrati

Bankruptcy Accounting - Narrative (Details) - USD ($)	3 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Bankruptcy Accounting [Line Items]
Proceeds from issuance of term loan under sale and leaseback after payment of property taxes			$ 67,500,000
Proceeds from issuance of term loan under sale and leaseback			18,800,000
Restricted cash deposits	$ 14,200,000		14,200,000
Net cash remaining deposited in unrestricted cash account	1,900,000
Additional contribution to unsecured creditor claim fund	40,000,000		40,000,000
Bankruptcy claims, amount of claim fund to be distributed	$ 22,300,000		22,300,000
Restructuring, impairment and abandonment charges			10,834,000	$ 113,492,000	$ 0
Impairment of intangible assets			1,639,000
Impairment costs		$ 80,100,000	1,639,000	80,076,000
Abandonment costs			5,638,000	25,082,000
Professional fees				5,212,000
Compensation costs related to reorganization reduction in force			3,557,000	3,122,000
Reorganization items, net			(60,015,000)	3,619,000	$ 0
Professional and legal fees			34,579,000	$ 3,619,000
Charges related to rights offering and backstop agreement			19,990,000
Gain on lease liabilities of estimated claims			66,247,000
Gain on sale-leaseback			49,639,000
Severance and Employee Retention Costs
Bankruptcy Accounting [Line Items]
Restructuring and abandonment expenses			3,600,000
Permanent Closure Stores and Phoenix Distribution Center
Bankruptcy Accounting [Line Items]
Restructuring and abandonment expenses			$ 5,600,000

Bankruptcy Accounting - Schedul

Bankruptcy Accounting - Schedule of Liabilities Subject to Compromise in Bankruptcy Reorganization Process (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Reorganizations [Abstract]
Accounts payable		$ 83,467
Accrued expenses		6,630
Operating lease liabilities	$ 54,632	71,097
Lease liabilities - non-current	$ 156,240	294,812
Other liabilities - non-current		333
Liabilities subject to compromise		$ 456,339

Bankruptcy Accounting - Sched_2

Bankruptcy Accounting - Schedule of Restructuring, Impairment and Abandonment Charges (Details) - USD ($)	3 Months Ended	12 Months Ended
	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Restructuring costs:
Professional fees			$ 5,212,000
Severance and compensation related costs		$ 3,557,000	3,122,000
Total restructuring costs		3,557,000	8,334,000
Impairment costs:
Store long-lived assets			11,656,000
Distribution center long-lived assets			16,794,000
Operating lease right-of-use assets			51,626,000
Intangible asset		1,639,000
Total impairment costs	$ 80,100,000	1,639,000	80,076,000
Abandonment costs:
Accelerated recognition of operating lease right-of-use assets		5,638,000	25,082,000
Total abandonment costs		5,638,000	25,082,000
Total restructuring, impairment and abandonment costs		$ 10,834,000	$ 113,492,000	$ 0

Bankruptcy Accounting - Sched_3

Bankruptcy Accounting - Schedule of Reorganization Items (Details) - USD ($)	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Reorganization items, net:
Professional and legal fees	$ 34,579,000	$ 3,619,000
Gains on lease termination, net of estimated claims	(66,247,000)
Claims related costs	1,302,000
Rights Offering and Backstop Agreement	19,990,000
Gain on sale-leaseback	(49,639,000)
Total reorganization items, net	$ (60,015,000)	$ 3,619,000	$ 0

Debt - Narrative (Details)

Debt - Narrative (Details)	Dec. 31, 2020USD ($)Director	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jul. 10, 2020USD ($)	May 29, 2020USD ($)
Line Of Credit Facility [Line Items]
Revolving credit facility outstanding amount		$ 12,000,000
DIP DDTL Agreement
Line Of Credit Facility [Line Items]
Maximum borrowing capacity				$ 25,000,000
Pre-Petition ABL Credit Agreement
Line Of Credit Facility [Line Items]
Maximum borrowing capacity	$ 180,000,000
Revolving credit facility maturity date	Jan. 29, 2024
Term of credit facility (in years)	5 years
Revolving credit facility outstanding amount	$ 0
Interest expense			$ 1,900,000
Accrued paid-in-kind interest			1,500,000
Amortization of financing fees			200,000
Commitment fees			200,000
DIP ABL Facility
Line Of Credit Facility [Line Items]
Maximum borrowing capacity					$ 100,000,000
New ABL Credit Agreement
Line Of Credit Facility [Line Items]
Maximum borrowing capacity	110,000,000
Revolving credit facility outstanding amount		$ 12,000,000
Debt instrument, maturity date		Dec. 31, 2023
Outstanding letters of credit		$ 12,100,000
Maximum borrowing capacity that is unavailable until first anniversary of closing date		10,000,000
Availability under the credit facility		$ 38,900,000
New ABL Credit Agreement | LIBOR
Line Of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate		2.75%
New ABL Credit Agreement | Commercial Bank Floating Bank Rate
Line Of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate		1.75%
Term Loan Credit Agreement
Line Of Credit Facility [Line Items]
Maximum borrowing capacity	25,000,000
Revolving credit facility maturity date		Dec. 31, 2024
Revolving credit facility outstanding amount		$ 26,374,000	$ 25,000,000
Outstanding term loan held	$ 25,000,000
Term loan credit agreement interest rate		14.00%
Term loan credit agreement prepayment terms		The Term Loan is subject to optional prepayment after the first anniversary of the date of issuance at prepayment price equal to the greater of (1) the original principal amount of the Term Loan plus accrued interest thereon, and (2) 125% of the original principal amount of the Term Loan.
Term loan credit agreement prepayment percentage on principal		125.00%
Accrued paid-in-kind interest		$ 1,806,000
Long-term debt, fair value		29,600,000
Term Loan Credit Agreement | Backstop Party
Line Of Credit Facility [Line Items]
Number of new directors appointed | Director	3
Term Loan Credit Agreement | Tensile Capital Partners Master Fund, LP
Line Of Credit Facility [Line Items]
Outstanding term loan held	$ 19,000,000
Term Loan Credit Agreement | Affiliates of Osmium Partners, LLC
Line Of Credit Facility [Line Items]
Outstanding term loan held	$ 1,000,000
DIP ABL Credit Agreement and DIP Term Facility
Line Of Credit Facility [Line Items]
Interest expense		8,200,000
Accrued paid-in-kind interest		1,900,000
Amortization of financing fees		5,500,000
Commitment fees		$ 800,000

Debt - Summary of Term Loan (De

Debt - Summary of Term Loan (Details) $ in Thousands	12 Months Ended
	Jun. 30, 2021USD ($)
Line Of Credit Facility [Line Items]
Loan balance	$ 12,000
Term Loan Credit Agreement
Line Of Credit Facility [Line Items]
Loan balance	25,000
Debt issuance costs	(432)
Accrued paid-in-kind interest	1,806
Loan balance	$ 26,374

Property and Equipment, Net - S

Property and Equipment, Net - Schedule of Property and Equipment, Net of Accumulated Depreciation (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Property and equipment, net of accumulated depreciation
Gross property and equipment	$ 189,725	$ 299,702
Less accumulated depreciation	(151,941)	(231,067)
Net property and equipment	37,784	68,635
Land
Property and equipment, net of accumulated depreciation
Gross property and equipment		6,628
Buildings and Building Improvements
Property and equipment, net of accumulated depreciation
Gross property and equipment		43,215
Furniture and Fixtures
Property and equipment, net of accumulated depreciation
Gross property and equipment	47,587	63,755
Equipment
Property and equipment, net of accumulated depreciation
Gross property and equipment	50,231	68,909
Software
Property and equipment, net of accumulated depreciation
Gross property and equipment	41,575	50,691
Leasehold Improvements
Property and equipment, net of accumulated depreciation
Gross property and equipment	49,651	65,281
Assets Under Finance Lease
Property and equipment, net of accumulated depreciation
Gross property and equipment	$ 681	$ 1,223

Property and Equipment, Net - N

Property and Equipment, Net - Narrative (Details) $ in Millions	3 Months Ended
	Dec. 31, 2020USD ($)
Property Plant And Equipment [Abstract]
Impairment charges for property and equipment	$ 18.9

Accrued Liabilities - Schedule

Accrued Liabilities - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Payables And Accruals [Abstract]
Sales and use tax	$ 2,698	$ 5,027
Self-insurance reserves	9,405	10,631
Wages, benefits and payroll taxes	9,639	2,303
Property taxes	1,510	1,809
Freight and distribution	8,658	1,620
Capital expenditures	348
Utilities	1,466	791
Advertising	613	69
Gift card liability	1,045	1,281
Asset retirement obligation	3	1,598
Reorganization expenses	6,337	3,544
Other expenses	4,732	5,269
Total accrued liabilities	$ 46,454	$ 33,942

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Tax Provision (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Current
Federal		$ (286)	$ (286)
State and local	$ 267	196	225
Total	267	(90)	(61)
Deferred
Federal	20	306	303
State and local	4	5	4
Total	24	311	307
Total
Federal	20	20	17
State and local	271	201	229
Total	$ 291	$ 221	$ 246

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details)	12 Months Ended
	Jun. 30, 2021USD ($)Subsidiary	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)
Income Tax [Line Items]
Statutory federal income tax rate	21.00%
Deferred tax assets, valuation allowance	$ 13,900,000
Operating loss carryforward - Federal	153,600,000
Operating loss carryforward - State	$ 6,000,000
Number of subsidiaries filing income tax returns in the U.S. federal jurisdiction, and various state jurisdictions | Subsidiary	1
Unrecognized tax benefits that, if recognized, would affect the effective tax rate	$ 300,000
Interest paid, net of tax	0	$ 0	$ 0
Federal
Income Tax [Line Items]
Operating loss carryforward subject to expiration	70,200,000
Operating loss carryforward not subject to expiration	$ 83,400,000
Federal | Earliest Tax Year
Income Tax [Line Items]
Operating loss carryforward expiration year	2033
Federal | Latest Tax Year
Income Tax [Line Items]
Operating loss carryforward expiration year	2037
State and Local Jurisdiction | Earliest Tax Year
Income Tax [Line Items]
Operating loss carryforward expiration year	2021
State and Local Jurisdiction | Latest Tax Year
Income Tax [Line Items]
Operating loss carryforward expiration year	2041

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Income Taxes Computed at Blended Statutory Federal Income Tax Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Reconciliation of the expected federal income tax expense at the statutory income tax rate to the actual tax expense
Federal income tax benefit computed at statutory rate	$ 687	$ (34,883)	$ (2,561)
State income taxes, net of related federal tax benefit	214	159	181
Increase/(decrease) in federal valuation allowance	(11,637)	34,586	2,291
Federal tax credits	(113)	(91)	(294)
Stock option expiration/deficiencies	250	620	548
Warrant issue expenses	4,324
Reorganization expenses	6,202
Other, net	364	(170)	81
Total	$ 291	$ 221	$ 246

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Deferred tax assets:
Other payroll and benefits	$ 1,182	$ 189
Inventory reserves	931	1,516
Self-insurance reserves	2,318	2,620
Share-based compensation	1,800	1,648
Other current assets	1,160	1,288
Operating lease liabilities	52,008	87,073
Property and equipment	727	3,208
Disallowed interest expense	2,954	942
Net operating loss and tax credits	41,833	38,096
Other noncurrent assets	556	191
Total gross deferred tax assets	105,469	136,771
Deferred tax liabilities:
Inventory costs	2,924	4,371
Prepaid supplies	1,353	1,174
Operating lease - right of use	47,627	63,694
Total gross deferred tax liabilities	51,904	69,239
Valuation allowance	(53,683)	(67,626)
Net deferred tax liability	$ (118)	$ (94)

Income Taxes - Schedule of Reco

Income Taxes - Schedule of Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Reconciliation of the beginning and ending amount of unrecognized tax benefits
Balance at beginning of the period	$ 147	$ 147	$ 147
Additions for tax positions of prior years	0	0	0
Reductions for lapse of statute of limitations	0	0	0
Balance at end of the period	$ 147	$ 147	$ 147

Common Stock & Share-Based In_3

Common Stock & Share-Based Incentive Plans - Narrative (Details) - USD ($)	May 19, 2021	May 04, 2021	Feb. 09, 2021	Jan. 04, 2021	Nov. 16, 2020	Aug. 21, 2017	Sep. 16, 2014	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Common stock, par value (in dollars per share)								$ 0.01	$ 0.01
Common stock, shares authorized								200,000,000	100,000,000
Common stock, shares outstanding								86,204,572	47,340,652
Proceeds from rights offering								$ 45,000		$ 8,000
Expected term (years)									4 years 7 months 6 days
Expected stock volatility (as a percent)									64.80%
Risk-free interest rate									2.40%
Threshold percentage on change in ownership of common stock								4.50%
Exercise price of stock options outstanding, low end of range								$ 1.64
Exercise price of stock option outstanding, high end of range								$ 19.36
Liability associated with cash settled awards								$ 1,700,000	$ 100,000
Fair value of carried interest								1,851,000	$ 2,555,000	$ 3,488,000
Expected dividend yield (as a percent)									0.00%	0.00%
Share-based Awards
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Weighted average grant date fair value of awards granted (in dollars per share)									$ 0.83	$ 1.71
Aggregate intrinsic value of awards vested (in dollars)								1,100,000
Aggregate intrinsic value of awards exercised (in dollars)								43,599	$ 0	$ 1,800
Unrecognized share-based compensation expense (in dollars)								$ 200,000
Weighted average period for recognition of unrecognized share-based compensation expense (in years)								11 months 4 days
CEO Inducement Performance Based Award
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Shares available for grant	1,230,769
CEO Inducement Service Based Award
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Shares available for grant	1,538,462
2014 Plan
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Number of shares authorized							8,500,000
2014 Plan | Share-based Awards
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Expiration period (in years)								10 years
Shares available for grant								1,900,000
2008 Plan | Share-based Awards
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Expiration period (in years)								10 years
2008 and 2014 Plan | Restricted Stock Awards
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Awards outstanding								1,708,368
Weighted average grant date fair value of awards granted (in dollars per share)								$ 1.94
2008 and 2014 Plan | Restricted Stock Units
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Awards outstanding								3,021,924
Weighted average grant date fair value of awards granted (in dollars per share)								$ 2.83
Maximum
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Expected term (years)										5 years
Vesting period (in years)										4 years
Maximum | C E O Inducement Award
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Vesting period (in years)	5 years
Maximum | 2014 Plan | Share-based Awards
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Vesting period (in years)								4 years
Vesting percentage							5.00%
Maximum | 2014 Plan | Full Value Awards
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Vesting percentage							5.00%
Maximum | 2008 Plan | Share-based Awards
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Vesting period (in years)								4 years
Maximum | 2008 and 2014 Plan | Restricted Stock Awards
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Vesting period (in years)								4 years
Minimum
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Expected term (years)										3 years 9 months 18 days
Vesting period (in years)										3 years
Minimum | C E O Inducement Award
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Vesting period (in years)	1 year
Minimum | 2014 Plan | Share-based Awards
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Vesting period (in years)							1 year	1 year
Minimum | 2014 Plan | Full Value Awards
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Vesting period (in years)							1 year
Minimum | 2014 Plan | Tenure Awards
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Vesting period (in years)						3 years
Minimum | 2008 Plan | Share-based Awards
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Vesting period (in years)								1 year
Minimum | 2008 and 2014 Plan | Restricted Stock Awards
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Vesting period (in years)								1 year
Common Stock
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Common stock, shares outstanding								86,205,000	47,341,000	46,683,000	45,865,000
Non Employee Directors | Minimum | 2014 Plan | Tenure Awards
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Vesting period (in years)						1 year
Fred Hand, CEO
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Vesting period (in years)								42 months
Fred Hand, CEO | Second Anniversary of Mr. Hand’s Employment
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Vesting description								on the second anniversary of Mr. Hand’s employment by the Company, Mr. Hand’s entitlement to approximately 17.14% (the product of 30% times 24/42) of the Carried Interest will become vested
Share based payment from related party carried interest vesting percentage								17.14%
Fred Hand, CEO | Thereafter
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Vesting description								thereafter, Mr. Hand’s entitlement to approximately 0.71% (the product of 30% times 1/42) of the Carried Interest will become vested each month.
Share based payment from related party carried interest vesting percentage								0.71%
Carried Interest Agreement
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Expected term (years)								3 years
Expected stock volatility (as a percent)								70.00%
Risk-free interest rate								0.34%
Discount rate								25.00%
Fair value of carried interest								$ 100,000
Expected dividend yield (as a percent)								0.00%
Backstop Commitment Agreement
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Expected term (years)			5 years
Expected stock volatility (as a percent)			37.98%
Risk-free interest rate			0.36%
Discount rate			30.00%
Osmium Partners LLC | Fred Hand, CEO
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Warrants rights to purchase common stock		10,000,000
Share based payment from related party all carry distribution receivable percentage		30.00%
Common stock outstanding shares percentage at the date of carried interest arrangement		31.40%
Warrants to purchase shares of common stock		10,000,000
Osmium Partners LLC | Backstop Commitment Agreement
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Number of new shares exchanged for business close				1					1
Subscription period for rights offering expired				Feb. 1, 2021
Rights offering expects to close period				Feb. 9, 2021
Osmium Partners LLC | Backstop Commitment Agreement | Warrant
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Warrants rights to purchase common stock			10,000,000
Exercise price of warrant			$ 1.65
Warrant right expense								$ 3,500,000
Warrants term			5 years
Warrants to purchase shares of common stock			10,000,000
Osmium Partners LLC | Backstop Commitment Agreement | Backstop Party | Common Stock
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Shares issued in connection with a rights offering				$ 20,200,000
Rights offering proposed to conduct, purchase price per share			$ 1.10
Backstop party receive backstop fee			$ 2,000,000					2,000,000
Osmium Partners LLC | Backstop Commitment Agreement | Rights Offering
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Shares issued in connection with a rights offering				40,000,000	$ 40,000,000
Proceeds from rights offering			40,000,000
Non-cash charges			$ 14,500,000					$ 14,500,000
Osmium Partners LLC | Backstop Commitment Agreement | Rights Offering | Common Stock
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Shares issued in connection with a rights offering				19,800,000
Osmium Partners LLC | Backstop Commitment Agreement | Rights Offering | Eligible Holders | Common Stock | Maximum
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Shares issued in connection with a rights offering				$ 24,000,000
Osmium Partners LLC | Backstop Commitment Agreement | Rights Offering | Backstop Party | Common Stock
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Rights offering proposed to conduct, purchase price per share				$ 1.10
Osmium Partners LLC | Backstop Commitment Agreement | Rights Offering | Backstop Party | Common Stock | Maximum
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Shares issued in connection with a rights offering (in shares)				16,000,000

Common Stock & Share-Based In_4

Common Stock & Share-Based Incentive Plans - Summary of Transactions Relating to Options (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2018
Number of Shares
Granted during year	0
Share-based Awards
Number of Shares
Options outstanding at the beginning of year	2,694,616	3,698,043	3,957,243
Granted during year		12,000	536,877
Exercised during the year	(22,308)	0	(3,105)
Forfeited or expired during year	(327,565)	(1,015,427)	(792,972)
Options outstanding at the end of year	2,344,743	2,694,616	3,698,043	3,957,243
Exercisable at June 30, 2021	2,019,170
Weighted-Average Exercise Price
Options outstanding at the beginning of year	$ 5.33	$ 5.63	$ 6.30
Granted during year		1.64	3.22
Exercised during the year	1.98		2.10
Forfeited or expired during year	5.37	6.22	7.38
Options outstanding at the end of year	5.36	$ 5.33	$ 5.63	$ 6.30
Exercisable at June 30, 2021	$ 4.43
Weighted-Average Remaining Contractual Term (Years)
Options outstanding at the end of year	4 years 8 months 12 days	6 years 1 month 9 days	7 years 1 month 6 days	7 years 2 months 15 days
Aggregate Intrinsic Value
Options outstanding at the end of year	$ 1,642,845			$ 475,381
Exercisable at June 30, 2021	$ 1,121,354

Common Stock & Share-Based In_5

Common Stock & Share-Based Incentive Plans - Summary of Information about Stock Options Outstanding (Details)	12 Months Ended
	Jun. 30, 2021$ / sharesshares
Information about stock options outstanding
Low end of range of exercise prices	$ 1.64
High end of range of exercise prices	$ 19.36
Number Outstanding | shares	2,344,743
Weighted Average Remaining Contractual Life (Years), Options Outstanding	4 years 8 months 12 days
Weighted Average Exercise Price Per Share, Options Outstanding	$ 5.36
Number Exercisable | shares	2,019,170
Weighted Average Exercise Price Per Share, Options Exercisable	$ 5.76
$1.64 - $2.10
Information about stock options outstanding
Low end of range of exercise prices	1.64
High end of range of exercise prices	$ 2.10
Number Outstanding | shares	151,483
Weighted Average Remaining Contractual Life (Years), Options Outstanding	5 years 10 months 28 days
Weighted Average Exercise Price Per Share, Options Outstanding	$ 2.03
Number Exercisable | shares	118,353
Weighted Average Exercise Price Per Share, Options Exercisable	$ 2.07
$2.45 - $2.45
Information about stock options outstanding
Low end of range of exercise prices	2.45
High end of range of exercise prices	$ 2.45
Number Outstanding | shares	348,036
Weighted Average Remaining Contractual Life (Years), Options Outstanding	5 years 6 months 29 days
Weighted Average Exercise Price Per Share, Options Outstanding	$ 2.45
Number Exercisable | shares	261,029
Weighted Average Exercise Price Per Share, Options Exercisable	$ 2.45
$3.12 - $3.12
Information about stock options outstanding
Low end of range of exercise prices	3.12
High end of range of exercise prices	$ 3.12
Number Outstanding | shares	15,000
Weighted Average Remaining Contractual Life (Years), Options Outstanding	6 years 10 months 9 days
Weighted Average Exercise Price Per Share, Options Outstanding	$ 3.12
Number Exercisable | shares	11,250
Weighted Average Exercise Price Per Share, Options Exercisable	$ 3.12
$3.25 - $3.25
Information about stock options outstanding
Low end of range of exercise prices	3.25
High end of range of exercise prices	$ 3.25
Number Outstanding | shares	411,571
Weighted Average Remaining Contractual Life (Years), Options Outstanding	6 years 5 months 26 days
Weighted Average Exercise Price Per Share, Options Outstanding	$ 3.25
Number Exercisable | shares	209,885
Weighted Average Exercise Price Per Share, Options Exercisable	$ 3.25
$3.95 - $5.59
Information about stock options outstanding
Low end of range of exercise prices	3.95
High end of range of exercise prices	$ 5.59
Number Outstanding | shares	104,390
Weighted Average Remaining Contractual Life (Years), Options Outstanding	2 years 7 months 20 days
Weighted Average Exercise Price Per Share, Options Outstanding	$ 4.84
Number Exercisable | shares	104,390
Weighted Average Exercise Price Per Share, Options Exercisable	$ 4.84
$5.64 - $5.64
Information about stock options outstanding
Low end of range of exercise prices	5.64
High end of range of exercise prices	$ 5.64
Number Outstanding | shares	376,101
Weighted Average Remaining Contractual Life (Years), Options Outstanding	3 years 7 months 28 days
Weighted Average Exercise Price Per Share, Options Outstanding	$ 5.64
Number Exercisable | shares	376,101
Weighted Average Exercise Price Per Share, Options Exercisable	$ 5.64
$5.95 - $5.95
Information about stock options outstanding
Low end of range of exercise prices	5.95
High end of range of exercise prices	$ 5.95
Number Outstanding | shares	272,825
Weighted Average Remaining Contractual Life (Years), Options Outstanding	3 years 7 months 9 days
Weighted Average Exercise Price Per Share, Options Outstanding	$ 5.95
Number Exercisable | shares	272,825
Weighted Average Exercise Price Per Share, Options Exercisable	$ 5.95
$6.71 - $6.71
Information about stock options outstanding
Low end of range of exercise prices	6.71
High end of range of exercise prices	$ 6.71
Number Outstanding | shares	367,485
Weighted Average Remaining Contractual Life (Years), Options Outstanding	4 years 9 months
Weighted Average Exercise Price Per Share, Options Outstanding	$ 6.71
Number Exercisable | shares	367,485
Weighted Average Exercise Price Per Share, Options Exercisable	$ 6.71
$7.90 - $14.72
Information about stock options outstanding
Low end of range of exercise prices	7.90
High end of range of exercise prices	$ 14.72
Number Outstanding | shares	244,894
Weighted Average Remaining Contractual Life (Years), Options Outstanding	3 years 5 months 1 day
Weighted Average Exercise Price Per Share, Options Outstanding	$ 9.42
Number Exercisable | shares	244,894
Weighted Average Exercise Price Per Share, Options Exercisable	$ 9.42
$18.42 - $19.36
Information about stock options outstanding
Low end of range of exercise prices	18.42
High end of range of exercise prices	$ 19.36
Number Outstanding | shares	52,958
Weighted Average Remaining Contractual Life (Years), Options Outstanding	3 years 5 months 1 day
Weighted Average Exercise Price Per Share, Options Outstanding	$ 18.96
Number Exercisable | shares	52,958
Weighted Average Exercise Price Per Share, Options Exercisable	$ 18.96

Common Stock & Share-Based In_6

Common Stock & Share-Based Incentive Plans - Summary of Information about Restricted and Performance Stock Units and Awards Granted and Outstanding (Details) - $ / shares shares in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Restricted and Performance Stock Units
Number of Shares
Outstanding at the beginning of year	57,693	57,693
Granted during year	3,021,924	57,693	57,693
Vested during year	(57,693)	(57,693)
Outstanding at the end of year	3,021,924	57,693	57,693
Weighted-Average Fair Value at Date of Grant
Outstanding at the beginning of year	$ 3.25	$ 3.25
Granted during year	2.81	1.58	$ 3.25
Vested during year	1.91	1.58	3.25
Outstanding at the end of year	$ 2.83	$ 3.25	$ 3.25
Restricted and Performance Stock Awards
Number of Shares
Outstanding at the beginning of year	1,979,480	1,839,861	1,433,269
Granted during year	1,121,250	1,422,927	1,039,050
Vested during year	(595,190)	(446,987)	(421,359)
Forfeited during year	(797,172)	(836,321)	(211,099)
Outstanding at the end of year	1,708,368	1,979,480	1,839,861
Weighted-Average Fair Value at Date of Grant
Outstanding at the beginning of year	$ 2.43	$ 3.36	$ 3.95
Granted during year	1.50	1.63	3.09
Vested during year	2.26	3.55	4.59
Forfeited during year	2.29	2.38	3.63
Outstanding at the end of year	$ 1.94	$ 2.43	$ 3.36

Common Stock & Share-Based In_7

Common Stock & Share-Based Incentive Plans - Summary of Activity of Cash Settled Awards (Details) - Cash Settled Awards shares in Thousands	12 Months Ended
	Jun. 30, 2021shares
Share-based incentive plans
Outstanding at the beginning of year	1,148,406
Vested during year	(208,328)
Forfeited during year	(248,705)
Outstanding at the end of year	691,373
Performance Based
Share-based incentive plans
Outstanding at the beginning of year	287,350
Forfeited during year	(143,675)
Outstanding at the end of year	143,675
Service Based
Share-based incentive plans
Outstanding at the beginning of year	861,056
Vested during year	(208,328)
Forfeited during year	(105,030)
Outstanding at the end of year	547,698

Common Stock & Share-Based In_8

Common Stock & Share-Based Incentive Plans - Schedule of Recognized Share-Based Compensation Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Share-based incentive plans
Share-based compensation	$ 2,054	$ 2,720	$ 3,536
Amounts capitalized in inventory	(410)	(681)	(1,114)
Share Based Compensation Amortization
Share-based incentive plans
Share-based compensation	1,851	2,555	3,488
Cost of Sales
Share-based incentive plans
Share-based compensation	$ 613	$ 846	$ 1,162

Leases - Narrative (Details)

Leases - Narrative (Details)	12 Months Ended
	Jun. 30, 2021USD ($)Lease	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)
Lessee Lease Description [Line Items]
Existence of option to renew	true
Sale leaseback, consider received	$ 68,500,000
Sale and leaseback, net value of properties sold	18,900,000
Sale and leaseback, gain recognized	$ 49,639,000
Number of operating leases under sale lease back | Lease	2
Operating lease not yet commenced	$ 0
Rent expense for real estate leases	73,500,000	$ 118,300,000	$ 121,500,000
Total lease cost	73,759,000	118,647,000
Accelerated recognition of rent expense due to abandonment	$ 5,600,000	25,100,000
Impairment for operating lease right-of-use assets		$ 51,626,000
Corporate Office
Lessee Lease Description [Line Items]
Sale lease back, lease term	10 years
Sale lease back fixed rent payable	$ 10,000,000
Distribution Center Facilities
Lessee Lease Description [Line Items]
Sale lease back, lease term	2 years 6 months
Sales-type lease, existence of option to extend [true false]	true
Option to extend lease term	1 year
Sale lease back fixed rent payable	$ 16,000,000
Minimum | Distribution Center and Retail Store Location
Lessee Lease Description [Line Items]
Operating lease term of contract	1 year
Maximum | Distribution Center and Retail Store Location
Lessee Lease Description [Line Items]
Operating lease term of contract	10 years
Maximum | Equipment
Lessee Lease Description [Line Items]
Finance lease term of contract	5 years

Leases - Components of Lease Co

Leases - Components of Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Operating lease cost	$ 62,617	$ 94,318
Variable lease cost	10,924	24,014
Amortization of right-of-use assets	210	286
Interest on lease liabilities	8	29
Total lease cost	$ 73,759	$ 118,647

Leases - Schedule of Additional

Leases - Schedule of Additional Information Related to Leases (Details)	Jun. 30, 2021	Jun. 30, 2020
Weighted average remaining lease term (in years)
Operating leases	4 years 7 months 6 days	5 years 10 months 24 days
Finance leases	8 months 12 days	2 years 7 months 6 days
Operating leases	8.50%	5.80%
Finance leases	2.40%	3.90%

Leases - Schedule of Other Info

Leases - Schedule of Other Information Related to Leases Including Supplemental Disclosures of Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 64,496	$ 90,983
Operating cash flows from finance leases	9	23
Financing cash flows from finance leases	217	224
Right-of-use assets obtained in exchange for operating lease liabilities	$ (107,497)	$ 28,957

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Operating Leases Fiscal year:
2022	$ 69,461
2023	59,776
2024	46,086
2025	31,740
2026	19,332
Thereafter	28,223
Total lease payments	254,618
Less: Interest	43,746
Total lease liabilities	210,872
Less: Current lease liabilities	54,632	$ 71,097
Non-current lease liabilities	156,240	$ 294,812
Finance Leases Fiscal year:
2022	124
Total lease payments	124
Less: Interest	1
Total lease liabilities	123
Non-current lease liabilities	123
Total Fiscal year:
2022	69,585
2023	59,776
2024	46,086
2025	31,740
2026	19,332
Thereafter	28,223
Total lease payments	254,742
Less: Interest	43,747
Total lease liabilities	210,995
Less: Current lease liabilities	54,632
Non-current lease liabilities	$ 156,363

401(K) Profit Sharing Plan - Na

401(K) Profit Sharing Plan - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Profit sharing plan
Contributions expensed	$ 1.4	$ 1.4	$ 1.4
Full-time Employees
Profit sharing plan
Eligible service period (in months)	1 month
Part-time Employees
Profit sharing plan
Eligible service period (in months)	12 months
Eligible minimum service period (in hours)	1000 hours
Minimum
Profit sharing plan
Employee's contribution (as a percent)	1.00%
Maximum
Profit sharing plan
Employee's contribution (as a percent)	75.00%
Match contribution by employer (as a percent)	4.00%

Earnings Per Common Share - Com

Earnings Per Common Share - Computation of Basic and Diluted Earnings (Loss) Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Net earnings (loss)	$ 2,982	$ (166,328)	$ (12,440)
Less: Income to participating securities	(135)
Net earnings/(loss) attributable to common shares	$ 2,847	$ (166,328)	$ (12,440)
Weighted average common shares outstanding—basic	60,584	45,208	44,719
Effect of dilutive stock equivalents	1,105
Weighted average common shares outstanding—dilutive	61,689	45,208	44,719
Net earnings/(loss) per common share—basic	$ 0.05	$ (3.68)	$ (0.28)
Net earnings/(loss) per common share—diluted	$ 0.05	$ (3.68)	$ (0.28)

Earnings Per Common Share - Nar

Earnings Per Common Share - Narrative (Details) - $ / shares shares in Millions	12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019	Feb. 09, 2021
Share-based Awards
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Weighted average shares excluded from computation of diluted earnings per share	2.8	3.9	4.8
Backstop Commitment Agreement | Osmium Partners LLC | Warrant
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Warrants to purchase common stock				10
Exercise price of warrant				$ 1.65
Warrants term				5 years

Related Party - Narrative (Deta

Related Party - Narrative (Details) $ / shares in Units, $ in Thousands	Feb. 19, 2021shares	Feb. 09, 2021USD ($)$ / sharesshares	Jan. 04, 2021USD ($)	Dec. 31, 2020USD ($)Director	Nov. 16, 2020USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2019USD ($)	Nov. 15, 2020USD ($)
Related Party Transaction [Line Items]
Proceeds from rights offering						$ 45	$ 8
Plan of Reorganization | Rights Offering
Related Party Transaction [Line Items]
Proceeds from rights offering		$ 40,000
Osmium Partners LLC
Related Party Transaction [Line Items]
Number of shares deemed to beneficially own | shares	30,158,593
Number of additional shares beneficially own | shares	3,004,840
Osmium Partners LLC | Backstop Commitment Agreement | Rights Offering
Related Party Transaction [Line Items]
Rights offering purchased			$ 40,000		$ 40,000
Proceeds from rights offering		$ 40,000
Osmium Partners LLC | Backstop Commitment Agreement | Rights Offering | Common Stock
Related Party Transaction [Line Items]
Rights offering purchased			$ 19,800
Tensile Capital Partners Master Fund LP
Related Party Transaction [Line Items]
Number of shares deemed to beneficially own | shares	30,158,593
Tensile Capital Partners Master Fund LP | Commitment Letter
Related Party Transaction [Line Items]
Agreed subordinated debt financing								$ 25,000
Alter Domus (US) LLC and Tensile Capital Partners Master Fund LP | Term Loan Credit Agreement
Related Party Transaction [Line Items]
Due to related party				$ 25,000
Osmium Partners and Larkspur SPV | Plan of Reorganization and Backstop Commitment Agreement
Related Party Transaction [Line Items]
Number of directors entitled to appoint | Director				3
Larkspur SPV
Related Party Transaction [Line Items]
Percentage of outstanding shares beneficially owned	31.40%
Larkspur SPV | Backstop Commitment Agreement | Rights Offering | Common Stock
Related Party Transaction [Line Items]
Shares issued in connection with a rights offering (in shares) | shares		18,340,411
Proceeds from rights offering		$ 20,200
Larkspur SPV | Plan of Reorganization and Backstop Commitment Agreement
Related Party Transaction [Line Items]
Warrant to purchase additional shares | shares		10,000,000
Exercise price of warrant | $ / shares		$ 1.65
Larkspur SPV | Plan of Reorganization and Backstop Commitment Agreement | Rights Offering
Related Party Transaction [Line Items]
Additional shares issued | shares		1,818,182