Long-term Debt (Tables)

9 Months Ended

Sep. 30, 2020

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

The Company’s long-term debt consists of the following (in thousands):

	September 30, 2020		December 29, 2019
U.S. Small Business Administration Paycheck Protection Program loan (PPP Note), payable in equal monthly installments on the first day after the deferment period. The PPP Note is unsecured and bears interest at 1% per annum. The PPP Note may be forgiven subject to the terms of the Paycheck Protection Program.	$	5,999	$	—
US Term Loan, payable to lenders in quarterly installments of $0.3 million through September 30, 2020, $0.6 million through September 30, 2021, and $0.8 million through November 7, 2023 with a lump sum due at maturity. The effective interest rate was 5.25% per annum at September 30, 2020. At September 30, 2020, the balance of the New US Term Loan is presented net of a debt discount of $0.2 million from costs paid to or on behalf of the lenders.	$	23,313	$	24,383
CA Term Loan, payable to lenders in quarterly installments of $0.4 million through November 7, 2023, with a lump sum due at maturity. The effective interest rate was 5.25% per annum at September 30, 2020. At September 30, 2020, the balance of the CA Term Loan is presented net of a debt discount of $0.1 million from costs paid to or on behalf of the lenders.	$	9,240	$	10,384
Capital expenditure line payable to lenders in quarterly installments of 7.5% per annum of the outstanding principal balance commencing December 31, 2019 through September 30, 2020, 10% per annum through September 30, 2021, and 12.5% per annum through November 7, 2023 with a lump sum due at maturity. The effective interest rate was 5.25% per annum at September 30, 2020.	1,246		1,300
Total debt excluding Revolver	39,797		36,067
Less current maturities	4,175		2,847
Long-term debt – Less current maturities	$	35,622	$	33,220

Summary of Minimum Consolidated EBITDA

The Consolidated EBITDA, as defined, must not be less than the amounts set forth below, with respect to the measurement period ended as of each date of determination set forth below:

Date of Determination	Measurement Period	Minimum Consolidated EBITDA
September 30, 2020	Trailing 3 months	$3,000,000
December 31, 2020	Trailing 6 months	$6,500,000
March 31, 2021	Trailing 9 months	$10,000,000
June 30, 2021	Trailing 12 months	$13,500,000

Schedule of Maturities of Long-Term Debt

Maturities on the Company’s Credit Agreement and other long term debt obligations for the remainder of the current fiscal year and future fiscal years are as follows (in thousands):

2020	$	983
2021	6,509
2022	8,340
2023	34,376
Total	50,208
Discounts	(310)
Debt issuance costs	(395)
Total debt, net	$	49,503