Debt (Tables)

9 Months Ended

Jun. 27, 2020

Debt Disclosure [Abstract]

Schedule of short and long term debt

The Company’s short- and long-term debt obligations as of June 27, 2020 and September 28, 2019 were as follows:

	June 27, 2020				September 28, 2019
(In thousands, except percentages)
Term loan (1)	2.4	%	$	28,333	4.6	%	$	33,333
Unamortized debt issuance costs (2)			(103)				(160)
Total indebtedness			28,230				33,173
Less short-term portion			(8,333)				(8,333)
Long-term debt			$	19,897			$	24,840

(1)Due in October 2021 and bears interest at a variable rate equal to an adjusted LIBOR plus 2.25%, payable quarterly.

(2)Debt issuance costs are recorded as a debt discount and recorded as interest expense over the term of the agreement.