LIFETIME BRANDS, INC (LCUT): restructuring charge — Lifetime Brands signs 15-year lease for 1.03M sq ft Hagerstown DC; relocation from Robbinsville by Q2 2026

LIFETIME BRANDS, INC

Lease for 1,027,526 sq ft Hagerstown, MD distribution center; 15-year term, base rent $7.3M first year, escalating 3% annually.
Relocation from Robbinsville, NJ; expected operational Q2 2026; increases capacity by 327,000 sq ft (46%).
Exit costs up to $7M (severance, relocation, remaining lease costs) and one-time relocation costs up to $7M in 2026.
Capital expenditures of ~$10M for equipment/leasehold improvements; tax abatements/incentives from Maryland ~$13M over lease term.
Total rent abatement of $7.2M for first 36 months; tenant improvement allowance $5.1M; letter of credit $2.7M.

item 1.01 item 2.03 item 2.05 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.95

LIFETIME BRANDS, INC announced a restructuring with charges of up to $7 million affecting Robbinsville, NJ facility.

Type: restructuring
Charge: up to $7 million
Affected area: Robbinsville, NJ facility

Exact text from the filing

On January 17, 2025, the Board of Directors of the Company approved the Lease and related transactions. In connection with the relocation, the Company will exit the facility in Robbinsville, NJ. The Company expects to incur one-time exit costs up to $7 million, for employee severance, certain employee relocation costs, and remaining lease costs for the Robbinsville facility through the end of the term.

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Source: SEC EDGAR

accession 0001628280-25-002928

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