Related Party Transactions

6 Months Ended

Jul. 30, 2022

Related Party Transactions [Abstract]

Related Party Transactions

10. Related Party Transactions

On September 30, 2020, the Company entered into the Subordinated Facility, with a group of lenders that includes certain affiliates of TowerBrook and our Chairman of the board of directors. In accordance with the Subordinated Facility, the Company issued warrants to the Subordinated Lenders. In accordance with the Subordinated Facility, the Company issued warrants to the Subordinated Lenders (See Note 5, Debt, and Note 8, Net Income (Loss) Per Share).

For the thirteen and twenty-six weeks ended July 30, 2022 the Company incurred $0.9 million and $1.7 million, respectively, of Interest expense, net – related party associated with the Subordinated Facility in the condensed consolidated statements of operations and comprehensive income. For the thirteen and twenty-six weeks ended July 31, 2021, the Company incurred $38.3 million and $57.0 million, respectively, of Fair value adjustment of warrants – related party, and $0.5 million and $1.0 million, respectively, of Interest expense, net – related party.

For the thirteen and twenty-six weeks ended July 30, 2022 and July 31, 2021, the Company incurred an immaterial amount of other related party transactions.