Note 5 - Long-term Debt

9 Months Ended

Nov. 04, 2013

Note 5 - Long-Term Debt

The following table is a summary of the Company’s outstanding debt obligations as of the dates indicated.

	November 4,		November 4,		January 28,		January 28,
	2013		2013		2013		2013
Type of Debt	Total Debt		Current Portion		Total Debt		Current Portion
Real Estate Mortgages	$	4,528,000	$	243,000	$	5,196,000	$	239,000
Bank Debt-Revolver						1,869,000		984,000
Bank Debt-Term		2,495,000		1,312,000		3,100,000		-
Note Payable to Officer		1,992,000		-		1,992,000		-
Total Debt	$	9,015,000	$	1,555,000	$	12,157,000	$	1,223,000

The Company had a Credit Facility with Wells Fargo Bank, N.A. The Credit Facility includes an $8,000,000 term loan and a $2,500,000 revolving line of credit. On December 17, 2012, the Bankruptcy Court entered an order confirming the Second Amended Plan. The Confirmation Order required the Company to pay the Wells Fargo Secured Claim. The Wells Fargo Loan was paid in full in July 2014.