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Long-Term Debt
6 Months Ended
Jul. 03, 2011
Long-term Debt, Unclassified [Abstract]  
Long-Term Debt
7. Long-Term Debt
Credit Facility
The senior credit facility (“Credit Facility”) allows for borrowings of up to $75.0 million and expires on August 30, 2013. The Credit Facility contains customary representations, warranties, negative and affirmative covenants, including a requirement to maintain a maximum leverage ratio, as defined, of 2.5:1 and a minimum fixed charge coverage ratio, as defined, of 1.25:1, as well as customary events of default and certain default provisions that could result in acceleration of the Credit Facility.


The Credit Facility is guaranteed by the Company's material existing and future domestic subsidiaries. As of July 3, 2011, the Company had $17.2 million committed for the issuance of letters of credit, which are required by insurance companies for the Company's workers' compensation and general liability insurance programs. Available borrowings under the Credit Facility were $57.8 million at July 3, 2011.