v3.26.1
Debt
 3 Months Ended
May 02, 2026
Debt Disclosure [Abstract]  
Debt
Note 6. Debt
Our debt consists of the following (in thousands):
May 2, 2026January 31, 2026
ABL Facility (as defined below), due earlier of (i) August 1, 2030 and (ii) the date that is 91 days prior to the maturity of any material indebtedness
$32,840 $31,020 
Borrowings under credit facility(A)
$32,840 $31,020 
Amended Term Loan Credit Agreement (as defined below), due June 14, 2028$271,250 $275,625 
Less: unamortized original issue discount and debt financing costs
(2,878)(3,217)
268,372 272,408 
Less: current portion of term loan(16,144)(16,144)
Noncurrent debt, net$252,228 $256,264 
(A)Outstanding borrowings under the ABL Facility are classified as current in the condensed consolidated balance sheets based on our intent and ability to repay each respective borrowing within 12 months of the related balance sheet dates.
Senior Secured Asset-Based Revolving Credit Facility, as amended (“ABL Facility”)
As of May 2, 2026 and January 31, 2026, the applicable per annum interest rate for borrowings under the ABL Facility was approximately 7%.
As of May 2, 2026, the maximum restricted payment utilizing the ABL Facility that our subsidiaries could make from its net assets was $103.3 million.
As of May 2, 2026, availability under the ABL Facility was $77.2 million, which reflects borrowings of $32.8 million, net of standby letters of credit issued and outstanding of $11.5 million.
During each of the three-month periods ended May 2, 2026 and May 3, 2025, amortization of financing costs for the ABL Facility was not material. During the three-month periods ended May 2, 2026 and May 3, 2025, interest expense was $0.9 million and $0.2 million, respectively.
As of May 2, 2026, we did not trigger a covenant compliance event and were compliant with our covenants under the ABL Facility.
Amended Term Loan Credit Agreement, as amended (“Amended Term Loan Credit Agreement”)
As of May 2, 2026 and January 31, 2026, the elected interest rate was approximately 9%.
During the three-month periods ended May 2, 2026 and May 3, 2025, we recognized $6.5 million and $7.5 million, respectively, of interest expense related to the Amended Term Loan Credit Agreement. During each of the three-month periods ended May 2, 2026 and May 3, 2025, amortization of original issue discount and financing costs related to the Amended Term Loan Credit Agreement was $0.3 million.
As of May 2, 2026, we were compliant with our covenants under the Amended Term Loan Credit Agreement.