Quarterly report [Sections 13 or 15(d)]

Debt (Tables)

v3.25.3
Debt (Tables)
 9 Months Ended
Sep. 25, 2025
Debt Disclosure [Abstract]  
Schedule of Long Term Debt
The following table summarizes the Company’s long-term debt as of September 25, 2025 and December 26, 2024:
in thousands Maturity Date
Interest Rate Per Annum at September 25, 2025
 September 25, 2025 December 26, 2024
Credit Facilities:
Term Loan Facility (1)
 February 14, 2027 6.32% Variable $ 198,716  $ 200,293 
Asset-based Loan Facility (“ABL Facility”) August 4, 2027 5.41% Variable —  — 
Total secured debt at par value 198,716  200,293 
Less: current maturities 2,103  2,103 
Long-term debt maturities 196,613  198,190 
Less: unamortized discount and debt issuance costs 2,395  3,663 
Total long-term debt $ 194,218  $ 194,527 
(1)The applicable interest rate for the Term Loan Facility as presented herein does not include the effect of the interest rate cap contract. Refer to Note 8, “Fair Value Measurements” for additional details related to the Company’s interest rate cap contract.
Schedule of Maturities of Debt
The following table summarizes scheduled maturities of the Company’s debt as of September 25, 2025:
in thousands Amount
Thirteen weeks ending December 25, 2025 $ 526 
2026 2,629 
2027 195,561 
Total minimum debt payments $ 198,716 
Schedule of Components of Interest Expense
Components of interest expense are as follows for the periods presented:
Thirteen Weeks Ended Thirty-nine Weeks Ended
in thousands September 25, 2025 September 26, 2024 September 25, 2025 September 26, 2024
Total interest expense, net of interest income (1)
 $ 2,359  $ 2,849  $ 7,374  $ 9,653 
Less: interest capitalized 1,768  2,660  4,159  6,846 
Interest expense, net $ 591  $ 189  $ 3,215  $ 2,807 
(1)Total interest expense, net of interest income includes interest income related to the Company’s cash on hand and interest rate cap contracts. The Company recognized interest income of $2.0 million for both the thirteen weeks ended September 25, 2025 and September 26, 2024 and $5.5 million and $5.2 million for the thirty-nine weeks ended September 25, 2025 and September 26, 2024, respectively. Refer to Note 8, “Fair Value Measurements” for additional details related to the Company’s interest rate cap contract.
Schedule of Fair Value of Debt The estimated fair value and classification within the fair value hierarchy of the Term Loan Facility was as follows as of September 25, 2025 and December 26, 2024:
in thousands Fair Value Hierarchy Classification September 25, 2025 December 26, 2024
Term Loan Facility Level 3 $ 198,468  $ 199,542