Debt (Tables)

9 Months Ended

Sep. 28, 2023

Debt Disclosure [Abstract]

Schedule of Long Term Debt

The following table summarizes the Company’s long-term debt as of September 28, 2023 and December 29, 2022:

in thousands	Maturity Date	Interest Rate Per Annum at September 28, 2023 (1)		September 28, 2023		December 29, 2022
Credit Facilities:
Term Loan Facility	February 14, 2027	7.33%	Variable	$	202,922	$	204,499
Asset-based Loan Facility (“ABL Facility”)	August 4, 2027	6.57%	Variable	—		210,200
Total secured debt at par value				202,922		414,699
Less: current maturities				2,103		2,103
Long-term debt maturities				200,819		412,596
Less: unamortized discount and debt issuance costs				5,777		7,045
Total long-term debt				$	195,042	$	405,551

(1) The applicable interest rate for the Term Loan Facility as presented herein does not include the effect of interest rate cap agreements.

Schedule of Maturities of Debt

The following table summarizes scheduled maturities of the Company’s debt as of September 28, 2023:

in thousands	Amount
Thirteen weeks ending December 28, 2023	$	526
2024	2,103
2025	2,103
2026	2,629
2027	195,561
Total minimum debt payments	$	202,922

Schedule of Components of Interest Expense

Components of interest expense are as follows for the periods presented:

	Thirteen Weeks Ended				Thirty-nine Weeks Ended
in thousands	September 28, 2023		September 29, 2022		September 28, 2023		September 29, 2022
Total interest costs, net of interest income	$	3,255	$	4,092	$	14,022	$	8,617
Less: interest capitalized	2,009		1,060		5,016		2,751
Interest expense, net	$	1,246	$	3,032	$	9,006	$	5,866

Schedule of Fair Value of Debt

The estimated fair values and classifications within the fair value hierarchy of the Term Loan Facility and the ABL Facility were as follows as of September 28, 2023 and December 29, 2022:

in thousands	Fair Value Hierarchy Classification	September 28, 2023		December 29, 2022
Term Loan Facility	Level 3	$	201,524	$	196,575
ABL Facility	Level 2	—		210,200
Total		$	201,524	$	406,775