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Liquidity (Notes)
6 Months Ended
Jun. 30, 2012
Liquidity [Abstract]  
Liquidity
LIQUIDITY
The primary items impacting our liquidity in the future are cash from operations, some of which include the effects of our cost reduction activities, our management of working capital, expiration or buyout of dark store leases, and pension funding requirements; and capital expenditures, acquisition of stores, sale of surplus assets, and borrowings or payments of debt.
We are focused on effective cash management. However, if we do not have sufficient cash reserves or sufficient cash flow from our operations or if our borrowing capacity under our ABL is insufficient, we may need to raise additional funds through equity or debt financings in the future in order to meet our operating and capital needs. If additional funds were to be needed, we may not be able to secure adequate debt or equity financing on favorable terms, or at all, at the time when we need such funding. In the event that we are unable to raise additional funds, our liquidity will be adversely impacted and our business could suffer. If we are able to secure additional financing, these funds could be costly to secure and maintain, which could significantly impact our earnings and our liquidity.
At June 30, 2012, we had $19,070 of cash and cash equivalents, $77,000 of debt outstanding, and subject to certain provisions as described in Note 5 Long-Term Debt above, excess availability to borrow up to an additional $29,742 under the ABL or up to $22,742 without being subject to the cash dominion and weekly reporting covenants of the ABL agreement. The breach of any of these provisions could result in a default under the ABL and could trigger acceleration of repayment, which could have a significant adverse impact on our liquidity and our business. While we expect to comply with the provisions of the agreement for the foreseeable future, deterioration in the economy and our results could cause us to not be in compliance with our ABL agreement.