Debt (Tables)

12 Months Ended

Oct. 03, 2020

Debt Disclosure [Abstract]

Schedule of short and long term debt

The Company’s short and long-term debt as of October 3, 2020 and September 28, 2019 is as follows:

	October 3, 2020				September 28, 2019
	Rate		Balance		Rate		Balance
(In thousands)
Term Loan (1)	2.4	%	$	25,000	4.6	%	$	33,333
Unamortized debt issuance costs (2)			(82)				(160)
Total indebtedness			24,918				33,173
Less short term portion			(6,667)				(8,333)
Long-term debt			$	18,251			$	24,840

(1)Due in October 2021 and bears interest at a variable rate equal to an adjusted LIBOR plus 2.25%, payable quarterly.

(2)Debt issuance costs are recorded as a debt discount and charged to interest expense over the term of the agreement.