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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Aug. 28, 2022
May 29, 2022
Current Assets:    
Cash and cash equivalents $ 4,222 $ 1,643
Accounts receivable, less allowance for credit losses 40,934 48,172
Inventories 64,285 66,845
Prepaid expenses and other current assets 7,157 7,052
Total Current Assets 116,598 123,712
Property and equipment, net 129,024 130,435
Operating lease right-of-use assets 8,229 8,580
Goodwill 13,881 13,881
Trademarks/tradenames, net 8,400 8,400
Customer relationships, net 6,875 7,150
Other assets 2,793 3,002
Total Assets 285,800 295,160
Current Liabilities:    
Accounts payable 16,366 15,802
Accrued compensation 6,373 9,238
Other accrued liabilities 7,832 7,647
Current portion of lease liabilities 5,021 5,026
Deferred revenue 803 919
Line of credit 44,000 40,000
Current portion of long-term debt, net 2,704 599
Total Current Liabilities 83,099 79,231
Long-term debt, net 95,865 97,579
Long-term lease liabilities 9,447 9,983
Deferred taxes, net 291 232
Other non-current liabilities 199 190
Total Liabilities 188,901 187,215
Stockholders’ Equity:    
Common stock, $0.001 par value; 50,000 shares authorized; 29,593 and 29,513 shares issued and outstanding at August 28, 2022 and May 29, 2022, respectively 30 30
Additional paid-in capital 168,070 167,352
Retained earnings (accumulated deficit) (70,915) (58,851)
Accumulated other comprehensive loss (286) (586)
Total Stockholders’ Equity 96,899 107,945
Total Liabilities and Stockholders’ Equity $ 285,800 $ 295,160