Note Q - Long-term Debt

9 Months Ended

Dec. 24, 2023

Notes to Financial Statements

Debt Disclosure [Text Block]

NOTE Q – LONG-TERM DEBT

Long-term debt consists of the following (in thousands):

	December 24,			March 26,
	2023			2023
6.625% Senior Secured Notes due 2025	$	60,000		$	80,000
Less: unamortized debt issuance costs		(507	)		(952	)
Long-term debt, net	$	59,493		$	79,048

On November 14, 2023, the Company announced its intent to complete the partial redemption, in the principal amount of $20,000, of the 2025 Notes in accordance with the terms and conditions of the Indenture. The redemption price of the redeemed notes was 100% of the principal amount, plus accrued and unpaid interest from, and including November 1, 2023 to, but excluding the redemption date of December 19, 2023. On December 19, 2023, the Company completed the partial redemption by paying cash of $20,177, inclusive of accrued interest of $177, and recognized a loss on early extinguishment of $169 that reflected the write-off of a portion of previously recorded debt issuance costs.