v3.26.1
Subsequent Event
12 Months Ended
Dec. 27, 2025
Subsequent Events [Abstract]  
Subsequent Event SUBSEQUENT EVENT
On March 12, 2026, the Company granted 247,458 shares of restricted stock to certain key employees of the Company. The grant-date fair value of the awards was $105, or $0.425 per share, and will be recognized as stock compensation expense over a weighted-average period of 5.7 years from the date the awards were granted. Each award is subject to a continued service condition. The fair value of each share of restricted stock awarded was equal to the market value of a share of the Company's Common Stock on the grant date.

On March 24, 2026, the Company entered into its First Amendment to its Senior Secured Revolving Credit Facility (the “Amendment”). The Amendment, among other things, amends the Defined Periods for a certain financial covenant and amends availability requirements and provides for the payment of an amendment fee.
Under the Amendment, the lenders amended the springing minimum trailing twelve-month EBITDA covenant such that the covenant will not be tested for the Defined Periods ending August 30, 2025, November 1, 2025, November 29, 2025, December 27, 2025, January 31, 2026 and February 28, 2026. Accordingly, during these Defined Periods, the springing EBITDA test is not applicable. The Amendment does not otherwise change the minimum trailing twelve‑fiscal‑month EBITDA requirement of $8,969 for each Defined Period ending after February 28, 2026.

The Amendment also adds a new minimum Availability requirement that applies at all times, including when the Company is not in a “Minimum Excess Availability Period.” Prior to the real estate financing trigger date (as defined in the Credit Agreement), the Company is required to maintain Availability of at least $3,000. On and after the real estate financing trigger date, the Company is required to maintain Availability of at least 6.25% of the revolving commitment.

During any Minimum Excess Availability Period (as defined in the Credit Agreement), the existing higher Availability thresholds continue to apply and are unchanged by the Amendment. In such periods, the Company must maintain Availability of at least the greater of (i) $6,000 and (ii) 12.5% of the revolving commitment.

In addition, the Amendment increases the minimum Fixed Charge Coverage Ratio that applies in connection with the Availability‑based covenant regime from 1.10 to 1.00 to 1.25 to 1.00, effective as of the Amendment date.
Management has evaluated the Amendment and concluded that it does not change the classification of the Company’s borrowings under the Credit Agreement as of December 27, 2025.