Alico, Inc. Quarterly report [Sections 13 or 15(d)]

Restructuring and Other Charges

Restructuring and Other Charges

6 Months Ended

Mar. 31, 2025

Restructuring and Related Activities [Abstract]

Note 7. Restructure and Other Charges

On January 3, 2025, the Board approved the Strategic Transformation and associated reduction in the Company’s current workforce by up to 172 employees. This workforce reduction was effective on January 6, 2025 with respect to 135 employees, and will be effective between April 1, 2025 and May 30, 2025 with respect to 34 employees (see Note 1. Description of Business and Basis of Presentation for further information on the Strategic Transformation).


	Personnel		Other		Total
Balance at September 30, 2024	$	—	$	—	$	—
Restructure expense	2,220		285		2,505
Restructure payments	(1,748)		(253)		(2,001)
Balance at March 31, 2025	$	472	$	32	$	504

These Restructure and other charges were incurred in the Company’s Citrus Segment with Personnel costs of $2,111 and $109 being recognized in Operating expenses and General and administrative expenses, respectively, and Other costs of $285, principally representing legal costs, recognized in General and administrative expense during the three and six months ended March 31, 2025 (see Note 5. Property and Equipment, Net for information on the Asset Impairment).

As of March 31, 2025, the Company has accrued for the Personnel and Other restructure expenses within Accrued expenses and expects to incur an additional $92 in personnel related costs in connection with the restructuring plan in the current fiscal year.