Supplemental Financial Information

3 Months Ended

Apr. 02, 2024

Supplemental Financial Information [Abstract]

Supplemental Financial Information

Supplemental Financial Information

Accounts receivable consist of the following (in thousands):

	April 2, 2024		January 2, 2024
Delivery program receivables	$	1,825	$	1,869
Vendor rebate receivables	712		779
Franchise receivables	1,010		1,043
Other receivables	785		1,453
Accounts receivable	$	4,332	$	5,144

Prepaid expenses and other assets consist of the following (in thousands):

	April 2, 2024		January 2, 2024
Prepaid insurance	$	522	$	928
Prepaid occupancy related costs	794		800
Assets held for sale	1,577		—
Prepaid expenses	3,104		2,127
Other current assets	24		24
Prepaid expenses and other assets	$	6,021	$	3,879

Property and equipment, net, consists of the following (in thousands):

	April 2, 2024		January 2, 2024
Leasehold improvements	$	229,565	$	232,060
Furniture, fixtures and equipment	176,478		176,872
Construction in progress	8,980		6,426
	415,023		415,358
Accumulated depreciation and amortization	(263,701)		(263,182)
Property and equipment, net	$	151,322	$	152,176

Accrued payroll and benefits consist of the following (in thousands):

	April 2, 2024		January 2, 2024
Accrued payroll and related liabilities	$	8,416	$	5,205
Accrued bonus	1,210		698
Insurance liabilities	1,800		1,866
Accrued payroll and benefits	$	11,426	$	7,769

Accrued expenses and other current liabilities consist of the following (in thousands):

	April 2, 2024		January 2, 2024
Gift card liability	$	2,067	$	2,222
Occupancy related	1,179		1,066
Utilities	1,271		1,311
Current portion of finance lease liability	2,142		2,337
Other restaurant expense accruals	1,943		1,466
Other corporate expense accruals	4,330		4,548
Accrued expenses and other current liabilities	$	12,932	$	12,950

Assets Held for Sale

In April 2024, the Company entered into a definitive agreement to sell six restaurants to a new franchisee (“DND Noodles, Inc.”). The assets associated with the sale have been recorded in “Prepaid expenses and other assets” on the Condense Consolidated Balance Sheets as of April 2, 2024. Based on the sales price, there was no write down of assets related to this transaction during the quarter ended April 2, 2024 and a gain on sale will be recorded in the second quarter of 2024. The following table presents the carrying amounts of the major classes of assets classified as held for sale (in thousands):

	April 2, 2024
Assets
Current assets, total	$	1,534
Operating lease assets	43
Current assets held for sale	$	1,577