Related Parties and Transactions |
6 Months Ended |
|---|---|
Sep. 26, 2026 | |
| Related Parties and Transactions [Abstract] | |
| Related Parties and Transactions | Note 12 – Related Parties and Transactions
The Board of Directors of the Company appointed Peter D. Fitzsimmons to serve as the President and Chief Executive Officer as of March 28, 2025. At this time, Mr. Fitzsimmons was serving as a partner and managing director of AlixPartners, LLP (“AlixPartners”). In connection with Mr. Fitzsimmons’ appointment, the Company entered into a consulting agreement with AP Services, LLC (“APS”), an affiliate of AlixPartners, pursuant to which APS provided for Mr. Fitzsimmons to serve as the Company’s Chief Executive Officer and for the additional resources of APS personnel as required. On December 2, 2025, the Company entered into an employment agreement with Peter Fitzsimmons, whereby he continues to serve as our President and Chief Executive Officer, and appointed him as a member of the Board of Directors at which time Mr. Fitzsimmons ceased serving as partner and managing director of AlixPartners and the consulting agreement with APS was terminated.
On December 23, 2025, the Company entered into a new consulting agreement with AlixPartners pursuant to which AlixPartners will provide consulting services to the Company under various statements of work at standard engagement rates to support the Operational Improvement Plan.
See Note 16 of our Form 10-K for the fiscal year ended March 28, 2026 for additional information.
The Company recorded total expenses related to AlixPartners and APS of $1.2 million and $9.1 million in operating, selling, general and administrative expenses in our Consolidated Statements of (Loss) Income and Comprehensive (Loss) Income during the three months ended September 26, 2026 and September 27, 2025, respectively. The Company recorded total expenses related to AlixPartners and APS of $2.2 million and $14.5 million in operating, selling, general and administrative expenses in our Consolidated Statements of (Loss) Income and Comprehensive (Loss) Income during the six months ended September 26, 2026 and September 27, 2025, respectively, of which $0.5 million and $2.5 million is within Other current liabilities in our Consolidated Balance Sheets at September 26, 2026 and September 27, 2025, respectively. |