Leases (Tables)
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6 Months Ended |
Jun. 30, 2025 |
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| Leases [Abstract] |
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| Schedule of Lease Assets and Lease Liabilities |
The components of the Company’s lease expense were as follows:
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Successor |
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Predecessor |
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Period from |
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Period from |
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June 25, 2025 |
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March 30, 2025 |
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Three Months Ended |
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through June 30, 2025 |
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through June 24, 2025 |
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June 29, 2024 |
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Operating lease cost: |
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Fixed lease cost |
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$ |
17 |
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$ |
3,114 |
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$ |
3,910 |
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Lease termination cost |
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— |
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740 |
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— |
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Variable lease cost |
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— |
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2 |
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3 |
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Total operating lease cost |
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17 |
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$ |
3,856 |
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$ |
3,913 |
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Finance lease cost: |
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Amortization of leased assets |
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— |
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— |
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1 |
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Interest on lease liabilities |
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— |
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— |
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0 |
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Total finance lease cost |
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$ |
— |
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$ |
— |
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$ |
1 |
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Total lease cost |
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$ |
17 |
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$ |
3,856 |
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$ |
3,914 |
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Successor |
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Predecessor |
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Period from |
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Period from |
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June 25, 2025 |
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December 29, 2024 |
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Six Months Ended |
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through June 30, 2025 |
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through June 24, 2025 |
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June 29, 2024 |
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Operating lease cost: |
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Fixed lease cost |
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$ |
17 |
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$ |
6,574 |
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$ |
7,893 |
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Lease termination cost (benefit) |
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— |
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740 |
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(156 |
) |
Variable lease cost |
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— |
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4 |
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|
17 |
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Total operating lease cost |
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$ |
17 |
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|
$ |
7,318 |
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|
$ |
7,754 |
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Finance lease cost: |
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Amortization of leased assets |
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— |
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— |
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3 |
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Interest on lease liabilities |
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— |
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— |
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0 |
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Total finance lease cost |
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$ |
— |
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$ |
— |
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$ |
3 |
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Total lease cost |
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$ |
17 |
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$ |
7,318 |
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$ |
7,757 |
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| Schedule of Components of Lease Expense |
The components of the Company’s lease expense were as follows:
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Successor |
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Predecessor |
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Period from |
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Period from |
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June 25, 2025 |
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|
March 30, 2025 |
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Three Months Ended |
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through June 30, 2025 |
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through June 24, 2025 |
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|
June 29, 2024 |
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Operating lease cost: |
|
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|
|
|
|
|
|
|
Fixed lease cost |
|
$ |
17 |
|
|
|
$ |
3,114 |
|
|
$ |
3,910 |
|
Lease termination cost |
|
|
— |
|
|
|
|
740 |
|
|
|
— |
|
Variable lease cost |
|
|
— |
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|
|
|
2 |
|
|
|
3 |
|
Total operating lease cost |
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|
17 |
|
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|
$ |
3,856 |
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|
$ |
3,913 |
|
Finance lease cost: |
|
|
|
|
|
|
|
|
|
|
Amortization of leased assets |
|
|
— |
|
|
|
|
— |
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|
|
1 |
|
Interest on lease liabilities |
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|
— |
|
|
|
|
— |
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|
0 |
|
Total finance lease cost |
|
$ |
— |
|
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|
$ |
— |
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|
$ |
1 |
|
Total lease cost |
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$ |
17 |
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|
$ |
3,856 |
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|
$ |
3,914 |
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Successor |
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Predecessor |
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Period from |
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Period from |
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June 25, 2025 |
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|
December 29, 2024 |
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|
Six Months Ended |
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through June 30, 2025 |
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through June 24, 2025 |
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|
June 29, 2024 |
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Operating lease cost: |
|
|
|
|
|
|
|
|
|
|
Fixed lease cost |
|
$ |
17 |
|
|
|
$ |
6,574 |
|
|
$ |
7,893 |
|
Lease termination cost (benefit) |
|
|
— |
|
|
|
|
740 |
|
|
|
(156 |
) |
Variable lease cost |
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|
— |
|
|
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|
4 |
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|
17 |
|
Total operating lease cost |
|
$ |
17 |
|
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|
$ |
7,318 |
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|
$ |
7,754 |
|
Finance lease cost: |
|
|
|
|
|
|
|
|
|
|
Amortization of leased assets |
|
|
— |
|
|
|
|
— |
|
|
|
3 |
|
Interest on lease liabilities |
|
|
— |
|
|
|
|
— |
|
|
|
0 |
|
Total finance lease cost |
|
$ |
— |
|
|
|
$ |
— |
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|
$ |
3 |
|
Total lease cost |
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$ |
17 |
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|
$ |
7,318 |
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|
$ |
7,757 |
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| Summary of Weighted Average Remaining Lease Term and Weighted Average Discount Rates |
The Company’s weighted average remaining lease term and weighted average discount rates were as follows:
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Successor |
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Predecessor |
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June 30, |
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December 28, |
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2025 |
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|
2024 |
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Weighted Average Remaining Lease Term (years) |
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Operating leases |
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3.10 |
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6.84 |
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Weighted Average Discount Rate |
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Operating leases |
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9.40 |
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|
7.68 |
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| Schedule of Maturity of Lease Liabilities |
At June 30, 2025 (Successor), the maturity of the Company’s lease liabilities in each of the next five fiscal years and thereafter were as follows:
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Operating
Leases |
|
Remainder of fiscal 2025 |
$ |
8,514 |
|
Fiscal 2026 |
|
1,726 |
|
Fiscal 2027 |
|
985 |
|
Fiscal 2028 |
|
682 |
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Fiscal 2029 |
|
428 |
|
Fiscal 2030 |
|
— |
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Thereafter |
|
— |
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Total lease payments |
$ |
12,335 |
|
Less imputed interest |
|
635 |
|
Present value of lease liabilities |
$ |
11,700 |
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| Summary of Supplemental Cash Flow Information Related to Leases |
Supplemental cash flow information related to leases were as follows:
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|
|
|
|
|
|
Successor |
|
|
|
Predecessor |
|
|
|
Period from |
|
|
|
Period from |
|
|
|
|
|
|
June 25, 2025 |
|
|
|
December 29, 2024 |
|
|
Six Months Ended |
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through June 30, 2025 |
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through June 24, 2025 |
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|
June 29, 2024 |
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Cash paid for amounts included in the measurement of lease liabilities |
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Operating cash flows from operating leases |
|
$ |
— |
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|
|
$ |
7,160 |
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$ |
7,941 |
|
Operating cash flows from finance leases |
|
$ |
— |
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|
$ |
— |
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|
$ |
0 |
|
Financing cash flows from finance leases |
|
$ |
— |
|
|
|
$ |
— |
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|
$ |
3 |
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Lease assets (modified) obtained in exchange for (modified) new operating lease liabilities |
|
$ |
— |
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|
|
$ |
(34,172 |
) |
|
$ |
1,289 |
|
Lease assets modified in exchange for modified finance lease liabilities |
|
$ |
— |
|
|
|
$ |
— |
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|
$ |
(1 |
) |
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