Annual report pursuant to Section 13 and 15(d)

Sale-Leaseback Transaction

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Sale-Leaseback Transaction
 12 Months Ended
Dec. 29, 2012
Sale-Leaseback Transaction [Abstract]  
Sale Leaseback Transaction Disclosure [Text Block]
Sale-Leaseback Transaction
 
On September 25, 2009, we completed the sale-leaseback of our St. Louis Park, Minnesota, building.  The building is a 126,458-square-foot facility that includes our corporate offices, a processing and recycling center, and an ApplianceSmart retail store.  Pursuant to the agreement entered into on August 11, 2009, we sold the St. Louis Park building for $4,627, net of fees, and leased the building back over an initial lease term of five years.  The sale of the building provided the Company with $2,032 in cash after repayment of the $2,595 mortgage.  The sale-leaseback transaction resulted in an adjustment of $2,191 to the net book value related to the land and building, and we recorded a deferred gain of $2,436.  Under the terms of the lease agreement, we are classifying the lease as an operating lease and amortizing the gain on a straight-line basis over five years.  We amortized $488 and $487 of the deferred gain for fiscal years 2012 and 2011, respectively.  The deferred gain amortization is netted against rent expense as a component of selling, general and administrative expenses in the consolidated statements of comprehensive income (loss).