RELATED PARTY TRANSACTIONS |
3 Months Ended |
|---|---|
Oct. 04, 2026 | |
| Related Party Transactions [Abstract] | |
| RELATED PARTY TRANSACTIONS | 12. RELATED PARTY TRANSACTIONS 255 RC, LLC The Company owns a 50% interest in 255 RC, LLC (“255 RC”), a limited liability company formed for the joint ownership of a corporate aircraft. The Company accounts for its investment in 255 RC under the equity method of accounting. The Company is party to an operating lease and management arrangement with 255 RC for use of the aircraft. Pursuant to the arrangement, we share fixed lease expenses with 255 RC on an equal basis and are solely responsible for lease costs directly attributable to our business flights actually taken during an applicable billing period. During the first three months of the Transition Period, the Company recorded aircraft-related operating costs, including rent and its allocable share of certain fixed operating costs, of $0.3 million. As of October 4, 2026, and June 30, 2026, the Company had a payable of $2.3 million due to 255 RC. The carrying value of the Company's investment in 255 RC was $4.4 million and $4.3 million as of October 4, 2026 and June 30, 2026, respectively. Transition Services Agreement In connection with the Marine Products Transaction, we entered into a Transition Services Agreement with RPC, Inc (“RPC”). LOR, Inc. is a holder of greater than 10% of our common stock and the largest shareholder of RPC. Pursuant to the Transition Services Agreement, RPC (i) provides certain administrative services to us on a cost reimbursement basis that were previously provided to Marine Products prior to the Marine Products Transaction and (ii) will continue to administer the RPC 401(k) Plan to certain of our employees that previously were employed by Marine Products prior to the Marine Products Transaction. The Transition Services Agreement may be terminated upon six months’ notice. The Company reimbursed RPC $0.1 million for its estimated allocable share of administrative costs incurred for services rendered on behalf of the Company during the three months ended October 4, 2026. |