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Subsequent Events
6 Months Ended
Jul. 30, 2022
Subsequent Events  
Subsequent Events

(16)  Subsequent Events

Seventh Amendment to the Siena Loan Agreement

On September 19, 2022, the parties to the Loan and Security Agreement entered into a Seventh Amendment to the Siena Loan Agreement (the “Seventh Amendment”), which revised the agreement to amend required minimum liquidity and maximum senior debt leverage ratio criteria among other terms and conditions set forth in the Loan Agreement.

Sale-Leaseback Transaction

The Company is currently marketing its two buildings located in Eden Prairie, which serve as the corporate headquarters and production studios for the Company, and its distribution center building located in Bowling Green, Kentucky. The current plan is to enter into a sales-leaseback transaction for one or more of the buildings which is expected to further strengthen the Company’s balance sheet. The buildings were recently appraised at approximately $45 million in aggregate.