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Debt (Tables)
6 Months Ended
Mar. 30, 2019
Debt Disclosure [Abstract]  
Schedule of short and long term debt
The Company’s short- and long-term debt as of March 30, 2019 and September 29, 2018 was as follows:
 
March 30, 2019
 
September 29, 2018
 
Rate
 
Balance
 
Rate
 
Balance
(dollars in thousands)
 
 
 
 
 
 
 
J.P. Morgan Chase Bank, N.A Secured Term Loan (the “Term Loan”) (1)
5.1
%
 
$
40,000

 
4.8
%
 
$
40,000

Unamortized debt issuance costs (2)
 
 
(199
)
 
 
 
(236
)
Total indebtedness
 
 
$
39,801

 
 
 
$
39,764

Less short-term portion
 
 
(10,000
)
 
 
 
(6,667
)
Long-term debt
 
 
$
29,801

 
 
 
$
33,097


(1)
Bears interest at a variable rate equal to an adjusted LIBOR plus 2.25% and is payable quarterly. Due in October 2021, with quarterly principal payments beginning in July 2019.
(2)
Debt issuance costs are recorded as a debt discount and recorded as interest expense over the term of the agreement.