Hampshire 10-Q 14 Jan 16 2015 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 28, 2015	Dec. 31, 2015
Entity Registrant Name	HAMPSHIRE GROUP LTD
Entity Central Index Key	887,150
Trading Symbol	hamp
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		8,769,223
Document Type	10-Q
Document Period End Date	Mar. 28, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q1
Amendment Flag	false

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets - USD ($)	Mar. 28, 2015	Dec. 31, 2014
Preferred Stock [Member]
Stockholders’ deficit:
Preferred stock, value	$ 0	$ 0
Series A Junior Participating Preferred Stock [Member]
Stockholders’ deficit:
Preferred stock, value	0	0
Cash and cash equivalents	539,000	1,758,000
Accounts receivable, net of allowances of $3,155 and $2,924 as of March 28, 2015 and December 31, 2014, respectively	10,678,000	11,649,000
Other receivables	337,000	368,000
Inventories, net	8,145,000	8,107,000
Other current assets	1,815,000	2,378,000
Assets held for sale	16,831,000	17,069,000
Total current assets	38,345,000	41,329,000
Fixed assets, net	1,021,000	827,000
Goodwill	420,000	420,000
Intangible assets, net	1,206,000	1,234,000
Other assets	$ 483,000	460,000
Assets held for sale		26,000
Total assets	$ 41,475,000	44,296,000
Credit facility borrowings and notes payable	18,559,000	16,114,000
Accounts payable	12,561,000	11,700,000
Accrued expenses and other liabilities	5,673,000	6,143,000
Liabilities held for sale	1,789,000	917,000
Total current liabilities	$ 38,582,000	34,874,000
Long-term debt		3,000,000
Other long-term liabilities	$ 11,023,000	11,568,000
Liabilities held for sale		121,000
Total liabilities	$ 49,605,000	$ 49,563,000
Commitments and contingencies (Note 7)
Common stock, $0.10 par value, 13,333,333 shares authorized; 9,260,952 and 9,249,902 shares issued as of March 28, 2015 and December 31, 2014, respectively	$ 926,000	$ 925,000
Additional paid-in capital	42,789,000	42,663,000
Deficit	(46,378,000)	(43,388,000)
Treasury stock, 753,356 shares at cost as of March 28, 2015 and December 31, 2014	(5,467,000)	(5,467,000)
Total stockholders’ deficit	(8,130,000)	(5,267,000)
Total liabilities and stockholders’ deficit	$ 41,475,000	$ 44,296,000

Unaudited Condensed Consolidat3

Unaudited Condensed Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Mar. 28, 2015	Dec. 31, 2014
Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$ 0.10	$ 0.10
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Series A Junior Participating Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$ 0.10	$ 0.10
Preferred stock, shares authorized (in shares)	10,000	10,000
Preferred stock, shares issued (in shares)	0	0
Allowance for doubtful accounts receivable	$ 3,155	$ 2,924
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized (in shares)	13,333,333	13,333,333
Common stock, shares issued (in shares)	9,260,952	9,249,902
Treasury stock, shares (in shares)	753,356	753,356

Unaudited Condensed Consolidat4

Unaudited Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 28, 2015	Mar. 29, 2014
Net sales	$ 12,602	$ 5,991
Cost of goods sold	9,113	4,685
Gross profit	3,489	1,306
Selling, general and administrative expenses	5,174	4,569
Loss from operations	(1,685)	(3,263)
Other income (expense):
Interest expense	(366)	(246)
Other, net	1	(11)
Loss from continuing operations before income taxes	(2,050)	(3,520)
Income tax provision	60	21
Loss from continuing operations	(2,110)	(3,541)
Loss from discontinued operations, net of taxes	(880)	(755)
Net loss	$ (2,990)	$ (4,296)
Basic loss per share:
Loss from continuing operations (in dollars per share)	$ (0.25)	$ (0.42)
loss from discontinued operations, net of taxes (in dollars per share)	(0.10)	(0.09)
Net loss (in dollars per share)	(0.35)	(0.51)
Diluted loss per share:
Loss from continuing operations (in dollars per share)	(0.25)	(0.42)
Loss from discontinued operations, net of taxes (in dollars per share)	(0.10)	(0.09)
Net loss (in dollars per share)	$ (0.35)	$ (0.51)
Weighted-average number of common shares outstanding:
Basic (in shares)	8,508	8,463
Diluted (in shares)	8,508	8,463

Unaudited Condensed Consolidat5

Unaudited Condensed Consolidated Statement of Stockholders' Deficit - 3 months ended Mar. 28, 2015 - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Total
Balance (in shares) at Dec. 31, 2014	9,249,902			753,356
Balance at Dec. 31, 2014	$ 925,000	$ 42,663,000	$ (43,388,000)	$ (5,467,000)	$ (5,267,000)
Net loss			(2,990,000)		(2,990,000)
Stock-based compensation		107,000			107,000
Issuance of common stock to directors in lieu of cash (in shares)	11,050
Issuance of common stock to directors in lieu of cash	$ 1,000	19,000			20,000
Balance (in shares) at Mar. 28, 2015	9,260,952			753,356
Balance at Mar. 28, 2015	$ 926,000	$ 42,789,000	$ (46,378,000)	$ (5,467,000)	$ (8,130,000)

Unaudited Condensed Consolidat6

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Mar. 28, 2015	Mar. 29, 2014
Cash flows from operating activities:
Net loss	$ (2,990,000)	$ (4,296,000)
Less: Loss from discontinued operations, net of taxes	(880,000)	(755,000)
Income (Loss) from Continuing Operations Attributable to Parent	(2,110,000)	(3,541,000)
Adjustments to reconcile loss from continuing operations to net cash provided by (used in) continuing operating activities:
Depreciation and amortization	226,000	273,000
Stock-based compensation	107,000	337,000
Deferred income taxes	$ 3,000	(32,000)
Loss on disposal of fixed assets		1,000
Changes in operating assets and liabilities:
Receivables, net	$ 1,002,000	3,805,000
Inventories, net	(38,000)	1,220,000
Other assets	486,000	(282,000)
Liabilities	(154,000)	(676,000)
Net cash provided by (used in) continuing operating activities	(478,000)	1,105,000
Net cash used in operating activities of discontinued operations	148,000	19,000
Net cash provided by (used in) operating activities	(330,000)	1,124,000
Cash flows from investing activities:
Capital expenditures	$ (321,000)	(131,000)
Acquisition of business		(300,000)
Net cash used in investing activities of continuing operations	$ (321,000)	(431,000)
Net cash used in investing activities of discontinued operations	(13,000)	(29,000)
Net cash used in investing activities	(334,000)	(460,000)
Cash flows from financing activities:
Payments of the line of credit, net	(487,000)	$ (1,339,000)
Payments of notes payable	(68,000)
Net cash used in financing activities	(555,000)	$ (1,339,000)
Net decrease in cash and cash equivalents	(1,219,000)	(675,000)
Cash and cash equivalents at beginning of period	1,758,000	1,385,000
Cash and cash equivalents at end of period	539,000	710,000
Supplemental disclosures of cash flow information:
Issuance of common stock to directors in lieu of cash	$ 20,000	$ 35,000

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation and Liquidity and Financing	3 Months Ended
	Mar. 28, 2015
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	Note 1 – Basis of Presentation and Liquidity and Financing The accompanying unaudited condensed consolidated financial statements of Hampshire Group, Limited and its subsidiaries (the “Company” or “Hampshire”) have been prepared in accordance with United States generally accepted accounting principles (“GAAP”) for interim financial information and the requirements of the United States Securities and Exchange Commission (the “SEC”) for interim reporting under Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements and should be read in conjunction with the audited financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. (the “2014 Annual Report”) The information included herein is not necessarily indicative of the annual results that may be expected for the year ending December 31, 2015, but does reflect all adjustments (which are of a normal and recurring nature) considered, in the opinion of management, necessary for a fair presentation of the results for the interim period presented. The preparation of the condensed consolidated financial statements in accordance with GAAP requires management to make accounting estimates based on assumptions, judgments or projections of future results of operations and cash flows. Actual results could differ materially from these estimates under different assumptions or conditions. In addition, the Company’s revenues are subject to the seasonality of the apparel industry, which may result in fluctuations in financial results for interim periods. Management’s Liquidity and Financing Plan The accompanying consolidated financial statements were prepared under the assumption that the Company will continue to operate as a going concern, which contemplates the realization of assets and the liquidation of liabilities in the ordinary course of business. The Company is in default under its credit facility and entered into a forbearance agreement and amendment to the credit facility on November 30, 2015, which among other things, changed the maturity date of the credit facility to February 29, 2016. The Company’s lenders have indicated that they will not renew the credit facility beyond that maturity date, because they intend to exit this line of business. See Note 5 – Credit Agreement The Company incurred losses from continuing operations of $2.1 million, $28.8 million, $12.8 million, $9.3 million, $16.8 million and $8.6 million in first quarter of 2015, fiscal 2014, fiscal 2013, fiscal 2012, fiscal 2011 and fiscal 2010, respectively. As of March 28, 2015, the Company had a negative net worth or stockholders’ deficit of $8.1 million. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern. Management’s plans in regard to these matters are described below. Beginning in the Spring of 2015, the Company initiated plans to realign its resources with its operations. Hampshire substantially altered its operations by reducing costs and cash outflows, consolidating operations and raising funds: ● On June 18, 2015, the Company entered into an Amendment of Lease dated as of June 1, 2015 for its New York Lease. The revised agreement provides for a payment structure that will reduce the Company’s cash payments, as compared to the previous agreement, by approximately $16.4 million over the next eight years through the termination of the lease. See Note 7 – Commitments and Contingencies – New York Office Lease; ● On April 27, 2015, the Company announced that it had entered into an agreement with Sole Asset Holdings, Inc. to terminate a license agreement, effective February 28, 2015. See Note 8 – Related Party Transactions – License Agreement and Termination Agreement with Sole Asset Holdings, Inc. doing business as “Gramicci.”; and, ● On September 15, 2015, Company completed the sale of the stock of Rio for $6.0 million and caused Rio to assume approximately $3.2 million in certain liabilities. See Note 8 – Related Party Transactions – Rio Sale . These, along with other actions, reduced the footprint of the Company’s operations as well as the number of full time employees, which totaled over 700 at December 31, 2014 and decreased to approximately 70 at October 31, 2015. Management’s continues to explore opportunities to match its operations with its business prospects. There are no assurances that actions to date will allow the Company to operate profitably and it may have to further “right size” operations. The Company has had discussions with potential lenders and investors about its capital requirements: ● The Company has spoken with potential lenders to replace the current credit facility. Several parties met with management and reviewed certain information about the Company, but there can be no assurances that new financing will be available in sufficient amounts, or on acceptable terms, or at all, and ● The Company also approached potential investors about a possible debt and/or equity investment in the Company. An equity investment could cause substantial dilution to existing stockholders or an “overhang” that may also adversely affect the market price of the Company’s common stock. There can be no assurances that any investment will be in sufficient amounts, or on acceptable terms, or at all. Sale of Rio Garment S.A. Pursuant to the terms of a Stock Purchase Agreement, dated as of April 10, 2015, as amended (the “Rio Agreement”), on September 15, 2015, the Company sold all the shares of stock of its wholly-owned subsidiary, Rio Garment S.A. (“Rio”), to Rio Asset Holdco, LLC and Rio Asset Holdings, LLC. In accordance with GAAP, the financial position of Rio is reflected as held for sale and the results of operations and cash flow have been presented as discontinued operations for the periods presented herein. The assets and liabilities of Rio are included in Assets held for sale Liabilities held for sale Note 8 – Related Party Transactions Recent Accounting Pronouncements In May 2014, FASB issued ASU No. 2014-09, Revenue from Contracts with Customers ASU 2014-09, which defers the effective date by one year to December 15, 2017, for annual reporting periods, including interim reporting periods within those periods, beginning after that date. Early adoption is permitted, but not before the original effective date of December 15, 2016. The Company is currently evaluating the impact of the pending adoption of ASU 2014-09 on the Company’s consolidated financial statements and has not yet determined the method by which the standard will be adopted or whether it will adopt the standard for 2017 or 2018. In June 2014, FASB issued ASU No. 2014-12, Compensation – Stock Compensation In August 2014, the FASB issued Accounting Standards Update No. 2014-15, Presentation of Financial Statements – Going Concern In April 2015, the FASB issued ASU No. 2015-03, “ Simplifying the Presentation of Debt Issuance Costs In July 2015, the FASB issued ASU No. 2015-11, Simplifying the Measurement of Inventory is evaluating the effect that ASU 2015-11 will have on its consolidated financial statements.

Note 2 - Inventories, Net

Note 2 - Inventories, Net	3 Months Ended
	Mar. 28, 2015
Notes to Financial Statements
Inventory Disclosure [Text Block]	Note 2 – Inventories , Net Inventories, net as of March 28, 2015 and December 31, 2014 consisted of the following: (In thousands) March 28, 2015 December 31, 2014 Finished goods $ 7,942 $ 7,912 Work-in-process — — Raw materials and supplies 203 195 Inventories, net $ 8,145 $ 8,107

Note 3 - Goodwill and Intangibl

Note 3 - Goodwill and Intangible Assets, Net	3 Months Ended
	Mar. 28, 2015
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	Note 3 – Goodwill and Intangible Assets , Net The Company’s goodwill and intangible assets were all related to the James Campbell acquisition in 2014. Goodwill Goodwill as of March 28, 2015 and December 31, 2014 consisted of the following: (In thousands) March 28, 2015 December 31, 2014 Goodwill $ 420 $ 420 Intangible Assets, Net Intangible assets as of March 28, 2015 and December 31, 2014 consisted of the following: March 28, 2015 December 31, 2014 (In thousands) James Campbell: Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net Customer relationships $ 230 $ (25 ) $ 205 $ 230 $ (19 ) $ 211 Trade names 1,100 (99 ) 1,001 1,100 (77 ) 1,023 Intangible assets $ 1,330 $ (124 ) $ 1,206 $ 1,330 $ (96 ) $ 1,234 Intangible asset amortization expense for continuing operations was approximately $28,000 and $10,000 for the three months ended March 28, 2015 and March 29, 2014, respectively. Annual intangible amortization expense for the year ending December 31, 2015 and in each of the following four years is estimated to be $115,000.

Note 4 - Loss on Lease Obligati

Note 4 - Loss on Lease Obligations	3 Months Ended
	Mar. 28, 2015
Notes to Financial Statements
Loss On Lease Obligations [Text Block]	Note 4 – Loss on Lease Obligations In 2011, the Company completely vacated two of the five floors leased of its corporate office space located at 114 West 41 st A reconciliation of the beginning and ending liability balances for the total loss on lease obligations for the three months ended March 28, 2015 is shown below: New York (In thousands) Office Other Total Beginning of period $ 10,765 $ 130 $ 10,895 Charges to expense for interest accretion 169 6 175 Payments (854 ) (15 ) (869 ) End of period $ 10,080 $ 121 $ 10,201 As of March 28, 2015 and December 31, 2014, total loss on lease obligation liabilities (including other office leases separate from the New York Office lease) of approximately $3.3 million and $3.8 million, respectively, are included in Accrued expenses and other liabilities Other long-term liabilities The New York Office lease was amended effective June 1, 2015. For additional information about the New York lease see Note 7 – Commitments and Contingencies – New York Office Lease

Note 5 - Credit Agreement

Note 5 - Credit Agreement	3 Months Ended
	Mar. 28, 2015
Notes to Financial Statements
Debt Disclosure [Text Block]	Note 5 – Credit Agreement On September 26, 2013, the Company and its subsidiaries, Hampshire Brands, Rio, Hampshire International, LLC and Scott James, LLC (collectively, the “Subsidiaries” and with the Company, the “Borrowers”), entered into a Credit Agreement (the “Credit Agreement”) and related agreements with Salus Capital Partners, LLC and Salus CLO 2012-1, Ltd. (collectively, the “Lender”) providing for: (i) a $27.0 million revolving credit facility (which includes up to $15.0 million for letters of credit), subject to borrowing base limitations and (ii) a $3.0 million term loan. As reported in Note 8 – Related Party Transactions – Acquisition and Sale of Rio Garment S.A. On May 22, 2015, the Borrowers entered into a Waiver and Fourth Amendment to Credit Agreement with the Lender to, among other things: (i) waive certain specified defaults, including the delivery of borrowing base certificates and/or other reports prior to February 27, 2015 that included irregularities and/or errors defaults; (ii) add a reserve for Honduran inventory to the calculation of the borrowing base; (iii) lower the availability block from $3.5 million to $1.5 million; (iv) replace the minimum EBITDA and minimum availability covenants with a minimum net sales covenant; and (v) require the Borrowers to seek and complete a capital raise with net proceeds of at least $1.5 million by July 31, 2015. The Company currently is in default under the Credit Agreement. On November 30, 2015, the Borrowers and Lender entered into a Forbearance Agreement and Fifth Amendment to Credit Agreement under which, among other items, (i) the maturity date of the loans was changed to February 29, 2016 and (ii) the Lender agreed to forbear from exercising its rights with respect to certain specified defaults. The Lender has indicated that it intends to exit its lending line of business and will not renew the Credit Agreement beyond that maturity date. The Company is seeking a replacement credit facility and is also considering raising additional financing through the sale of equity or debt. Information regarding the credit facility and related matters is presented in the Company’s 2014 Annual Report in Item 1A. Risk Factors, Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations, Liquidity and Capital Resources Note 1 – Organization, Liquidity and Financing, and Audit Committee Investigation Note 10 – Credit Facility Available borrowings under the revolving credit facility are limited to a borrowing base, generally consisting of specified percentages of inventory and trade receivables, less the total of availability reserves established under the Credit Agreement. On February 24, 2014, the Lender extended the Company additional borrowing availability under the Credit Agreement to include inventory assets held at Rio’s Honduran facilities, which were previously excluded from the borrowing base. Loans under the Credit Agreement are secured by a security interest in substantially all of the assets of the Borrowers, including a pledge of the stock of the Subsidiaries. All of the Borrowers are jointly and severally liable for all borrowings under the Credit Agreement. The Credit Agreement will expire, and all outstanding loans will become due and payable, on February 29, 2016. Loans under the Credit Agreement bear interest at the prime rate of interest published from time to time by www.bankrate.com plus 4.50%, provided, however, that the applicable annual interest rate on all loans will not be lower than 8.0%. In the event of a default under the Credit Agreement, the loans will bear interest at the applicable rate plus an additional 3%. Interest is payable monthly in arrears. As of March 28, 2015, the interest rate on both the term loan and the outstanding borrowings on the revolving credit facility was 8.0%. Additional fees are payable under the Credit Agreement, including a letter of credit issuance fee, an unused line fee, a collateral monitoring fee and an early termination fee. No principal payments are required under the term loan. All remaining principal and accrued interest is payable on the termination of the Credit Agreement. The Borrowers are also required to use the net cash proceeds of certain asset sales, insurance proceeds, sales of equity securities or incurrence of debt to prepay the loan. The Credit Agreement includes various representations, warranties, affirmative and negative covenants, events of default, remedies and other provisions customary for a transaction of this nature. The Credit Agreement initially also contained covenants regarding average availability and minimum EBITDA levels. As of March 28, 2015, the Company had outstanding borrowings of $3.0 million on the term loan and approximately $15.5 million on the revolving credit facility and no letters of credit outstanding under the Credit Agreement. Availability under the Credit Agreement at March 31, 2015 was approximately $0.3 million. As of March 28, 2015 and December 31, 2014, the fair value of the term loan was approximately $3.0 million and was determined by discounting the cash flows using the current interest rate (8.0%) on the loan (Level 3).

Note 6 - Income Taxes

Note 6 - Income Taxes	3 Months Ended
	Mar. 28, 2015
Notes to Financial Statements
Income Tax Disclosure [Text Block]	Note 6 – Income Taxes The Company’s provision for income taxes for the three months ended March 28, 2015 was comprised primarily of state minimum income taxes and interest and penalties on unrecognized tax benefits. The Company’s provision for income taxes for the three months ended March 29, 2014 was comprised primarily of state minimum income taxes and interest and penalties on unrecognized tax benefits, partially offset by reductions in foreign income tax withholdings. As of March 28, 2015, unrecognized tax benefits of approximately $2.5 million, including approximately $1.5 million of accrued interest and penalties, are included in Other long-term liabilities The Company maintains a full valuation allowance on all of the net deferred tax assets due to the significant negative evidence with regard to future realization of these net deferred tax assets as of March 28, 2015 and March 29, 2014. Excluding the valuation allowances on net deferred tax assets in the first quarter of 2015, the Company would have recognized a tax benefit from continuing operations of approximately $0.8 million, or an effective tax rate of 40.0%, due to losses incurred in the three months ended March 28, 2015. Excluding the valuation allowances on net deferred tax assets in the first quarter of 2014, the Company would have recognized a tax benefit from continuing operations of approximately $1.1 million, or an effective tax rate of 32.3%, due to losses incurred in the three months ended March 29, 2014.

Note 7 - Commitments and Contin

Note 7 - Commitments and Contingencies	3 Months Ended
	Mar. 28, 2015
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	Note 7 – Commitments and Contingencies New York Office Lease In July 2007, the Company entered into a lease (the “New York Lease”) for the New York Office. As previously reported, the Company had been in litigation over the New York Lease with the landlord and/or the court appointed receiver for the property since 2011 over claims by the Company that the landlord failed to complete certain agreed upon capital improvements to the common areas of the New York Office, which would result in reduced rent, and claims by the receiver for unpaid rent. On June 18, 2015, the Company entered into an Amendment of Lease dated as of June 1, 2015. The Company recorded a charge of approximately $5.3 million related to certain fees and changes made to the rent schedule and also reversed approximately $10.0 million in loss on lease reserves associated with the New York offices resulting in a net gain of approximately $4.7 million. The Company will recognize this gain in its the unaudited condensed consolidated statement of operations for the quarter ended June 27, 2015. Information regarding the Amendment of Lease is presented in the Company’s 2014 Annual Report in Item 8. Financial Statements and Supplementary Data, Note 12 – Commitments and Contingencies – Legal Items – New York Office Lease , Matters Related to scott james As previously reported, the Company sold its scott james business in June 2013. In May 2015, the Company and the purchasers entered into a settlement agreement releasing all claims and dismissing litigation that ensued after the sale. Information regarding scott james is presented in Note 1 2 – Commitments and Contingencies – Legal Items – Matters Related to scott james Other The Company is from time to time involved in other litigation incidental to the conduct of its business, none of which is expected to be material to its business, financial condition or operations.

Note 8 - Related Party Transact

Note 8 - Related Party Transactions	3 Months Ended
	Mar. 28, 2015
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	Note 8 – Related Party Transactions License Agreement and Termination Agreement with Sole Asset Holdings, Inc. doing business as “ Gramicci ” Agreement On July 1, 2014, the Company announced that it had entered into a license agreement (“License Agreement”) with Sole Asset Holdings, Inc., which does business under the name Gramicci (“Gramicci”), a California-based hiking and climbing-inspired brand owned by Mr. Paul Buxbaum, the Company’s Chief Executive Officer (“CEO”). Termination On April 27, 2015, the Company announced that it had entered into an agreement with Gramicci to terminate the License agreement, effective February 28, 2015 (the “Termination Agreement”). Pursuant to the Termination Agreement, the parties agreed that at the termination of the License Agreement, the Company had an outstanding payable to Gramicci of approximately $118,000. The Company agreed to pay this amount prior to March 1, 2020, subject to independent verification. Under the Termination Agreement, the Company also is responsible for: ● paying the salaries and benefits of certain Gramicci employees through March 13, 2015, which aggregated to approximately $88,800; ● paying the Gramicci monthly rent of approximately $5,000 for space occupied by the Company’s James Campbell business at Gramicci’s office; ● fulfilling certain purchase orders that Company received prior to the termination effective date; and, ● assisting Gramicci (subject to Gramicci reimbursing Company for any out-of-pocket expenses) with and allowing Gramicci to collect revenue (i.e., accounts receivable) arising from or related to the License Agreement. Obligations that the Gramicci is responsible for include: ● assuming all rights and obligations with respect to all current and future sales orders related to products covered by the License Agreement, effective March 1, 2015, except as otherwise noted; ● assuming all costs associated with Spring 2015 samples; and, ● using its best efforts to sell-off Fall ’14 samples and promptly remit proceeds to Company net of out-of-pocket expenses. As part of the License Agreement Termination, Gramicci disclosed to the Company that Gramicci is involved in ongoing negotiations to renew third party licenses related to the trademarks at issue in the License Agreement, enter into new third party licenses related to the trademarks at issue in the License Agreement, and/or sell the trademarks at issue in the License Agreement. The amount of Gramicci’s net sales included in the unaudited condensed consolidated statements of operations for the quarters ended March 28, 2015 and March 29, 2014 was approximately $1.0 million and zero, respectively. There were no royalties earned by Gramicci for the quarters ended March 28, 2015 and March 29, 2014. The amount of Gramicci’s net loss from operations included in the unaudited condensed consolidated statements of operations for the quarters ended March 28, 2015 and March 29, 2014 was approximately $28,000 and zero, respectively. Information regarding Sole Asset Holdings, Inc. is presented in the Company’s 2014 Annual Report in Item 8. Financial Statements and Supplementary Data, Note 1 3 – Related Party Transactions – License Agreement and Termination with Sole Asset Holdings, Inc. doing business as “Gramicci” Brandon Buxbaum Employment In connection with the Gramicci License Agreement, the Company hired Brandon Buxbaum, the son of Mr. Buxbaum, on July 1, 2014, as an operations manager for Gramicci at an annual salary of $100,000 plus benefits, which primarily consisted of health care insurance and paid time off. Mr. Brandon Buxbaum received salary payments of approximately $29,500 and $47,700 in the quarter ended March 28, 2015 and the year ended December 31, 2014, respectively. In connection with the termination of the Gramicci license, Mr. Brandon Buxbaum was terminated in March 2015 and received approximately $3,800 in severance. Rio Sale Rio Acquisition In 2011, the Company acquired Rio Garment S. de R.L. by way of a merger of that entity with and into RG Merger Sub S.A., a wholly-owned subsidiary of the Company, which was subsequently renamed Rio Garment S.A.. Rio is a Honduras-based apparel manufacturer, designing, sourcing and manufacturing knit tops for men, women and children, which are sold to retailers and distributors, primarily in the United States. The former Rio equity holders included: (i) Paul Buxbaum, a director of the Company who was appointed to the position of CEO in 2013, (ii) Benjamin Yogel, a current director of the Company and (iii) David Gren, a former Rio employee. Rio Sale Pursuant to the terms of a Stock Purchase Agreement, dated as of April 10, 2015, as amended (the “Rio Agreement”), on September 15, 2015, the Company sold all Rio’s shares of stock to Rio Asset Holdco, LLC and Rio Asset Holdings, LLC (collectively, the “Rio Buyers”), a group headed by David Gren. Mr. Gren was an executive officer of the Company until his resignation in May 2015 in connection with the sale and remains as president of Rio. Mr. Gren is the holder of approximately 11.5% of the Company’s common stock as of December 1, 2015. For financial reporting purposes, the sale of Rio will be deemed to have occurred effective as of the close of business on April 10, 2015 (the “Rio Effective Date”) to the fullest extent permitted by applicable law. Under the Rio Agreement, the Rio Buyers purchased all of the stock of Rio for $6.0 million (of which $1.0 million is payable on the first anniversary of closing), caused Rio to transfer to the Company accounts receivable in existence as of the Rio Effective Date and certain other assets of Rio totaling approximately $5.1 million and caused Rio to assume approximately $3.2 million in certain liabilities. In addition to the deferred purchase price of $1.0 million, Rio is also responsible for repayment of certain Rio expenses paid by the Company totaling approximately $381,000, of which $274,000 is payable pursuant to a promissory note of Rio and the balance of $107,000 is payable from the proceeds of certain receivables of Rio. The promissory note bears interest at a rate equal to the Company’s cost of capital from its senior lender (See Note 5 – Credit Agreement The Company will record a loss from the sale of Rio of approximately $1.3 million in its unaudited condensed consolidated statement of operations for the quarter ended June 27, 2015. In accordance with GAAP, the financial position of Rio is reflected as held for sale for the periods presented herein. The assets and liabilities of Rio are included in Assets held for sale Liabilities held for sale (In thousands) 201 5 201 4 Trade and other receivables, net $ 5,353 $ 4,313 Inventories, net 11,184 12,445 Other current assets 294 311 Total current assets 16,831 17,069 Fixed assets, net and other non-current assets — 26 Total assets $ 16,831 $ 17,095 Accrued expenses and other liabilities $ 1,789 $ 917 Other non-current liabilities — 121 Total liabilities $ 1,789 $ 1,038 The results from discontinued operations for the three months ended March 28, 2015 and March 29, 2014 were as follows: (In thousands) 2015 201 4 Net sales $ 7,345 $ 10,220 Loss from operations (914 ) (913 ) Loss from operations before income taxes (880 ) (755 ) Income tax expense — Net loss $ (880 ) $ (755 ) Operating results for discontinued operations for the three months ended March 29, 2014 included $109,000 of net sales and $107,000 of net income primarily related to scott james, which was sold on June 7, 2013. There were no operating results related to scott james for the three months ended March 28, 2015. Information regarding the acquisition and sale of Rio is presented in the Company’s 2014 Annual Report in Item 8. Financial Statements and Supplementary Data, Note 13 – Related Part y Transactions – Acquisition and Sale of Rio Garment S. A. Note 22 – Rio Pro Forma Condensed Financial Information (Unaudited) Buxbaum Group Information regarding the Company’s agreements with Buxbaum Holdings, Inc., d/b/a Buxbaum Group (“Buxbaum Group”) related to services provided to the Company by Paul Buxbaum (the Company’s CEO) is presented in Note 13 – Related Party Transactions – Buxbaum Group Agreements Agreement with GRL Capital Advisor s On March 13, 2015, the Company entered into a Services Agreement dated as of March 9, 2015 with GRL Capital Advisors (“GRL”). Pursuant to the Agreement, GRL provides the services of William Drozdowski to serve as interim chief financial officer. The services are provided for a fee of $40,000 per month plus GRL’s reasonable expenses. Mr. Drozdowski will not be entitled to any direct compensation from the Company in respect of his service as interim chief financial officer. If additional GRL personnel are engaged by the Company, they will be billed at the hourly rates set forth in the Service Agreement. Payments made to GLR in the quarter ended March 28, 2015 were approximately $34,300, which included approximately $1,800 of expense reimbursements. Accounts payable to this vendor were approximately $54,000 as of March 28, 2015. Other The Company paid approximately $1,200 and $0.1 million for screen printing services to a vendor affiliated with David Gren for the three months ended March 28, 2015 and March 29, 2014, respectively. Accounts payable to this vendor were approximately $1,200 and $3,000 as of March 28, 2015 and December 31, 2014, respectively. The Company paid approximately $4,500 to the father of Mr. Gren for factory repair and maintenance services at Rio for the quarter ended March 28, 2015 with no accounts payable as of March 28, 2015. Mr. Gren was an executive officer of the Company until his resignation in May 2015 and is the holder of approximately 11.5% of the Company’s common stock as of December 1, 2015.

Note 9 - Loss Per Share

Note 9 - Loss Per Share	3 Months Ended
	Mar. 28, 2015
Notes to Financial Statements
Earnings Per Share [Text Block]	Note 9 – Loss Per Share No adjustments to loss from continuing operations were necessary to calculate basic and diluted net loss per share from continuing operations for both the three months ended March 28, 2015 and March 29, 2014. For the three months ended March 28, 2015 and March 29, 2014, options to purchase 1,316,250 shares and 1,406,750 shares, respectively, were excluded from the calculation of dilutive shares as the impact would have been anti-dilutive due to the loss from continuing operations.

Note 10 - Subsequent Events

Note 10 - Subsequent Events	3 Months Ended
	Mar. 28, 2015
Notes to Financial Statements
Subsequent Events [Text Block]	Note 10 – Subsequent Events On April 10, 2015, the Company entered into a Stock Purchase Agreement to sell Rio Garment, S.A. to former employees, including Mr. Gren. The sale was completed on September 15, 2015. See Note 8 – Related Party Transactions . On April 27, 2015, the Company announced, effective February 28, 2015, that it had agreed to terminate its license agreement with Sole Asset Holdings, Inc., a company owned by the Company’s CEO, Paul Buxbaum, for the Gramicci brand, a California-based hiking and climbing-inspired label. See Note 8 – Related Party Transactions. On May 22, 2015, the Company and certain of its subsidiaries entered into a Waiver and Fourth Amendment to Credit Agreement with Salus CLO 2012-1, Ltd. and Salus Capital Partners, LLC, as lenders. See Note 5 – Credit Agreement On June 18, 2015, the Company entered into an Amendment of Lease dated for the Company’s New York City offices. See Note 7 – Commitments and Contingencies , New York Office Lease. On November 30, 2015, the Company and certain of its subsidiaries entered into a Forbearance Agreement and Fifth Amendment to Credit Agreement with Salus CLO 2012-1, Ltd. and Salus Capital Partners, LLC, under which, among other things, (i) the maturity date of the loans was changed to February 29, 2016 and (ii) the Lender agreed to forbear from exercising its rights with respect to certain specified defaults. See and Note 5 – Credit Facility. The Company has evaluated subsequent events through the date the financial statements were issued. There were no other items not otherwise disclosed which would have materially impacted the Company’s unaudited condensed consolidated financial statements.

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 28, 2015
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements In May 2014, FASB issued ASU No. 2014-09, Revenue from Contracts with Customers ASU 2014-09, which defers the effective date by one year to December 15, 2017, for annual reporting periods, including interim reporting periods within those periods, beginning after that date. Early adoption is permitted, but not before the original effective date of December 15, 2016. The Company is currently evaluating the impact of the pending adoption of ASU 2014-09 on the Company’s consolidated financial statements and has not yet determined the method by which the standard will be adopted or whether it will adopt the standard for 2017 or 2018. In June 2014, FASB issued ASU No. 2014-12, Compensation – Stock Compensation In August 2014, the FASB issued Accounting Standards Update No. 2014-15, Presentation of Financial Statements – Going Concern In April 2015, the FASB issued ASU No. 2015-03, “ Simplifying the Presentation of Debt Issuance Costs In July 2015, the FASB issued ASU No. 2015-11, Simplifying the Measurement of Inventory is evaluating the effect that ASU 2015-11 will have on its consolidated financial statements.

Note 2 - Inventories, Net (Tabl

Note 2 - Inventories, Net (Tables)	3 Months Ended
	Mar. 28, 2015
Notes Tables
Schedule of Inventory, Current [Table Text Block]	(In thousands) March 28, 2015 December 31, 2014 Finished goods $ 7,942 $ 7,912 Work-in-process — — Raw materials and supplies 203 195 Inventories, net $ 8,145 $ 8,107

Note 3 - Goodwill and Intangi19

Note 3 - Goodwill and Intangible Assets, Net (Tables)	3 Months Ended
	Mar. 28, 2015
Notes Tables
Schedule of Goodwill [Table Text Block]	(In thousands) March 28, 2015 December 31, 2014 Goodwill $ 420 $ 420
Schedule of Finite-Lived Intangible Assets [Table Text Block]	March 28, 2015 December 31, 2014 (In thousands) James Campbell: Gross Carrying Amount Accumulated Amortization Net Gross Carrying Amount Accumulated Amortization Net Customer relationships $ 230 $ (25 ) $ 205 $ 230 $ (19 ) $ 211 Trade names 1,100 (99 ) 1,001 1,100 (77 ) 1,023 Intangible assets $ 1,330 $ (124 ) $ 1,206 $ 1,330 $ (96 ) $ 1,234

Note 4 - Loss on Lease Obliga20

Note 4 - Loss on Lease Obligations (Tables)	3 Months Ended
	Mar. 28, 2015
Notes Tables
Schedule of Other Assets and Other Liabilities [Table Text Block]	New York (In thousands) Office Other Total Beginning of period $ 10,765 $ 130 $ 10,895 Charges to expense for interest accretion 169 6 175 Payments (854 ) (15 ) (869 ) End of period $ 10,080 $ 121 $ 10,201

Note 8 - Related Party Transa21

Note 8 - Related Party Transactions (Tables)	3 Months Ended
	Mar. 28, 2015
Notes Tables
Disposal Groups, Including Discontinued Operations [Table Text Block]	(In thousands) 201 5 201 4 Trade and other receivables, net $ 5,353 $ 4,313 Inventories, net 11,184 12,445 Other current assets 294 311 Total current assets 16,831 17,069 Fixed assets, net and other non-current assets — 26 Total assets $ 16,831 $ 17,095 Accrued expenses and other liabilities $ 1,789 $ 917 Other non-current liabilities — 121 Total liabilities $ 1,789 $ 1,038 (In thousands) 2015 201 4 Net sales $ 7,345 $ 10,220 Loss from operations (914 ) (913 ) Loss from operations before income taxes (880 ) (755 ) Income tax expense — Net loss $ (880 ) $ (755 )

Note 1 - Basis of Presentatio22

Note 1 - Basis of Presentation and Liquidity and Financing (Details Textual)	Jun. 18, 2015USD ($)	Mar. 28, 2015USD ($)	Mar. 29, 2014USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2012USD ($)	Dec. 31, 2011USD ($)	Dec. 31, 2010USD ($)	Oct. 31, 2015	Sep. 15, 2015USD ($)
Subsequent Event [Member] | Rio Buyers [Member]
Disposal Group, Including Discontinued Operation, Consideration										$ 6,000,000
Disposal Group, Including Discontinued Operation, Liabilities Assumed by Buyer										$ 3,200,000
Subsequent Event [Member] | New York Office [Member]
Amendment of Lease, Reduction in Cash Lease Payments Expected Over Term of Lease	$ 16,400,000
Amendment of Lease, Lease Term	8 years
Subsequent Event [Member]
Entity Number of Full Time Employees									70
Income (Loss) from Continuing Operations Attributable to Parent		$ (2,110,000)	$ (3,541,000)	$ (28,800,000)	$ (12,800,000)	$ (9,300,000)	$ (16,800,000)	$ (8,600,000)
Stockholders' Equity Attributable to Parent		$ (8,130,000)		$ (5,267,000)
Entity Number of Full Time Employees				700

Note 2 - Inventories, Net (Deta

Note 2 - Inventories, Net (Details) - USD ($)	Mar. 28, 2015	Dec. 31, 2014
Finished goods	$ 7,942,000	$ 7,912,000
Work-in-process
Raw materials and supplies	$ 203,000	$ 195,000
Inventories, net	$ 8,145,000	$ 8,107,000

Note 3 - Goodwill and Intangi24

Note 3 - Goodwill and Intangible Assets, Net (Details Textual) - USD ($)	3 Months Ended
	Mar. 28, 2015	Mar. 29, 2014
Finite-Lived Intangible Assets, Amortization Expense, Year Two	$ 115,000
Finite-Lived Intangible Assets, Amortization Expense, Year Three	115,000
Finite-Lived Intangible Assets, Amortization Expense, Year Four	115,000
Finite-Lived Intangible Assets, Amortization Expense, Year Five	115,000
Amortization of Intangible Assets	28,000	$ 10,000
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year	$ 115,000

Note 3 - Goodwill (Details)

Note 3 - Goodwill (Details) - USD ($)	Mar. 28, 2015	Dec. 31, 2014
Goodwill	$ 420,000	$ 420,000

Note 3 - Intangible Assets (Det

Note 3 - Intangible Assets (Details) - James Campbell [Member] - USD ($) $ in Thousands	Mar. 28, 2015	Dec. 31, 2014
Customer Relationships [Member]
Intangible Assets, Gross Carrying Amount	$ 230	$ 230
Intangible Assets, Accumulated Amortization	(25)	(19)
Intangible Assets, Net	205	211
Trade Names [Member]
Intangible Assets, Gross Carrying Amount	1,100	1,100
Intangible Assets, Accumulated Amortization	(99)	(77)
Intangible Assets, Net	1,001	1,023
Intangible Assets, Gross Carrying Amount	1,330	1,330
Intangible Assets, Accumulated Amortization	(124)	(96)
Intangible Assets, Net	$ 1,206	$ 1,234

Note 4 - Loss on Lease Obliga27

Note 4 - Loss on Lease Obligations (Details Textual) $ in Millions	12 Months Ended
	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2011USD ($)	Mar. 28, 2015USD ($)
Vacated [Member]
Leased Floors			2
Floors Leased [Member]
Leased Floors			5
New York Office [Member]
Gain (Loss) On Lease Obligations	$ (0.4)	$ (5.4)	$ (6.3)
Accrued Expenses and Other Liabilities [Member]
Accrued Losses on Lease Obligations	(3.8)			$ (3.3)
Other Noncurrent Liabilities [Member]
Accrued Losses on Lease Obligations	$ (7.1)			$ (6.9)

Note 4 - Loss on Lease Obliga28

Note 4 - Loss on Lease Obligations (Details) $ in Thousands	3 Months Ended
	Mar. 28, 2015USD ($)
New York Office [Member]
Beginning of period	$ 10,765
Charges to expense for interest accretion	169
Payments	(854)
End of period	10,080
Properties Other Than The New York Office [Member]
Beginning of period	130
Charges to expense for interest accretion	6
Payments	(15)
End of period	121
Beginning of period	10,895
Charges to expense for interest accretion	175
Payments	(869)
End of period	$ 10,201

Note 5 - Credit Agreement (Deta

Note 5 - Credit Agreement (Details Textual) - USD ($)	May. 22, 2015	Mar. 28, 2015	Mar. 28, 2015	Apr. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 26, 2013
Credit Agreement [Member] | Lenders [Member] | Revolving Credit Facility [Member] | Subsequent Event [Member]
Line of Credit Facility, Remaining Borrowing Capacity					$ 300,000
Credit Agreement [Member] | Lenders [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Interest Rate During Period		8.00%
Line of Credit Facility, Maximum Borrowing Capacity							$ 27,000,000
Line of Credit, Current		$ 15,500,000	$ 15,500,000
Credit Agreement [Member] | Lenders [Member] | Letter of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity							15,000,000
Credit Agreement [Member] | Lenders [Member] | Term Loan [Member]
Line of Credit Facility, Interest Rate During Period		8.00%
Long-term Debt, Fair Value		$ 3,000,000	$ 3,000,000			$ 3,000,000
Long-term Debt							$ 3,000,000
Credit Agreement [Member] | Lenders [Member] | Prime Rate [Member]
Debt Instrument, Basis Spread on Variable Rate			4.50%
Credit Agreement [Member] | Lenders [Member] | Applicable Rate [Member] | Event of Default [Member]
Debt Instrument, Basis Spread on Variable Rate			3.00%
Credit Agreement [Member] | Lenders [Member] | Minimum [Member]
Line of Credit Facility, Interest Rate During Period			8.00%
Credit Agreement [Member] | Lenders [Member]
Letters of Credit Outstanding, Amount		0	$ 0
Loans Payable, Current		$ 3,000,000	$ 3,000,000
Waiver and Fourth Amendment to Credit Agreement [Member] | Lenders [Member] | Subsequent Event [Member]
Line of Credit Facility, Availability Reserves	$ 1,500,000			$ 3,500,000
Debt Instrument, Covenant, Capital Proceeds	$ 1,500,000
Long-term Debt						$ 3,000,000

Note 6 - Income Taxes (Details

Note 6 - Income Taxes (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Mar. 28, 2015	Mar. 29, 2014
Unrecognized Tax Benefits	$ 2.5
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	1.5
Tax Benefit Provision From Continuing Operations Excluding Valuation Allowances	$ 0.8	$ 1.1
Effective Income Tax Rate Excluding the Valuation Allowances, Continuing Operations	40.00%	32.30%

Note 7 - Commitments and Cont31

Note 7 - Commitments and Contingencies (Details Textual) - New York Office [Member] - USD ($) $ in Millions	Jun. 18, 2015	Jun. 27, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2011
Subsequent Event [Member]
Gain (Loss) on Lease Obligations Related to the Present Value of Surrender Fee Payments and Changes Made to the Rent Schedule"	$ 5.3
Reversal of Loss on Lease Reserves	$ 10
Gain (Loss) On Lease Obligations		$ 4.7
Gain (Loss) On Lease Obligations			$ (0.4)	$ (5.4)	$ (6.3)

Note 8 - Related Party Transa32

Note 8 - Related Party Transactions (Details Textual)	Apr. 27, 2015USD ($)	Apr. 10, 2015USD ($)	Mar. 13, 2015USD ($)	Jul. 01, 2014USD ($)	Mar. 28, 2015USD ($)	Jun. 27, 2015USD ($)	Mar. 28, 2015USD ($)	Mar. 29, 2014USD ($)	Dec. 31, 2014USD ($)	Dec. 01, 2015
Gramicci [Member] | Subsequent Event [Member] | Salaries and Benefits of Certain Employees Through March 13, 2015 [Member]
Related Party Transaction, Amounts of Transaction	$ 88,800
Gramicci [Member] | Subsequent Event [Member] | Monthly Rent Expense [Member]
Related Party Transaction, Amounts of Transaction	5,000
Gramicci [Member] | Subsequent Event [Member]
Due to Related Parties	$ 118,000
Gramicci [Member]
Royalty Revenue							$ 0	$ 0
Revenue, Net							1,000,000	0
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest							(28,000)	0
Scott James Clothing Brand and Line [Member]
Disposal Group, Including Discontinued Operation, Revenue							0	109,000
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest								107,000
David Gren [Member] | Subsequent Event [Member]
Percentage of Stock Owned by Related Party										11.50%
Rio Buyers [Member] | Subsequent Event [Member]
Disposal Group, Including Discontinued Operation, Consideration		$ 6,000,000
Disposal Group, Including Discontinued Operation, Consideration, Amount Due One Year from Closing		1,000,000
Disposal Group, Including Discontinued Operation, Accounts Receivable		5,100,000
Disposal Group, Including Discontinued Operation, Liabilities Assumed by Buyer		3,200,000
Disposal Group, Including Discontinued Operation, Certain Repayment Expenses		381,000
Disposal Group, Including Discontinued Operation, Certain Repayment Expenses, Promissory Note		274,000
Disposal Group, Including Discontinued Operation, Certain Repayment Expenses Payable from the Proceeds of Certain Receivables		$ 107,000
Disposal Group, Including Discontinued Operation, Note Receivable, Term of Installments		12
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax						$ (1,300,000)
Buxbaum Group [Member]
Related Party Transaction, Expenses from Transactions with Related Party							112,500	112,500
GLR [Member] | Services Agreement [Member] | Expense Reimbursements [Member]
Related Party Transaction, Amounts of Transaction							1,800
GLR [Member] | Services Agreement [Member]
Related Party Transaction, Amounts of Transaction							34,300
Related Party Transaction, Monthly Fee			$ 40,000
Accounts Payable, Related Parties					$ 54,000		54,000
Vendor Affiliated with David Gren [Member] | Screen Printing Services [Member]
Related Party Transaction, Expenses from Transactions with Related Party							1,200	100,000
Accounts Payable, Related Parties					1,200		1,200		$ 3,000
Mr. Gren's Father [Member] | Rio Factory Maintenance [Member]
Related Party Transaction, Amounts of Transaction							4,500
Operations Manager [Member]
Officer Salary and Certian Employee Benefits				$ 100,000
Salaries, Wages and Officers' Compensation							29,500		47,700
Severance Costs					$ 3,800
Disposal Group, Including Discontinued Operation, Revenue							7,345,000		10,220,000
Revenue, Net							12,602,000	$ 5,991,000
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest							$ (880,000)		$ (755,000)

Note 8 - Discontinued Business

Note 8 - Discontinued Business Information - Balance Sheet and Income Statement (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 28, 2015	Dec. 31, 2014
Trade and other receivables, net	$ 5,353,000	$ 4,313,000
Inventories, net	11,184,000	12,445,000
Other current assets	294,000	311,000
Total current assets	$ 16,831,000	17,069,000
Fixed assets, net and other non-current assets		26,000
Total assets	$ 16,831,000	17,095,000
Accrued expenses and other liabilities	$ 1,789,000	917,000
Other non-current liabilities		121,000
Total liabilities	$ 1,789,000	1,038,000
Disposal Group, Including Discontinued Operation, Revenue	7,345,000	10,220,000
Loss from operations	(914,000)	(913,000)
Loss from operations before income taxes	$ (880,000)	$ (755,000)
Income tax expense
Net loss	$ (880,000)	$ (755,000)

Note 9 - Loss Per Share (Detail

Note 9 - Loss Per Share (Details Textual) - shares	3 Months Ended
	Mar. 28, 2015	Mar. 29, 2014
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1,316,250	1,406,750