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Fair Value Measurements
6 Months Ended
Jun. 28, 2015
Fair Value Disclosures [Abstract]  
Fair Value Measurements

(4) Fair Value Measurements

The carrying values of cash, accounts receivable, accounts payable and accrued expenses approximate the fair values of these instruments due to their short-term nature. The carrying amount for borrowings under the revolving credit facility approximates fair value because of the variable market interest rate charged to the Company for these borrowings. When the Company recognizes impairment on certain of its underperforming stores, the carrying values of these stores’ assets are reduced to their estimated fair values.

As discussed in Note 3 to the Interim Financial Statements, the Company’s only significant assets or liabilities measured at fair value on a nonrecurring basis subsequent to their initial recognition were certain assets subject to long-lived asset impairment. The Company classified these fair value measurements as Level 3 inputs, in accordance with ASC 820, Fair Value Measurement.