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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 26, 2023
Dec. 25, 2022
Current assets    
Cash $ 46,188 $ 28,668
Restricted cash 26,368 25,375
Accounts receivable, net of allowances of $13,968 and $24,207 as of March 26, 2023 and December 25, 2022, respectively 26,925 23,880
Inventory 6,770 6,925
Assets classified as held-for-sale 4,033 4,767
Other current assets 6,639 6,086
Total current assets 116,923 95,701
Non-current restricted cash 14,735 14,720
Operating lease right-of-use assets 100,782 101,114
Goodwill 293,282 293,282
Other intangible assets, net 621,547 625,294
Property and equipment, net 77,850 79,189
Other assets 4,410 4,003
Total assets 1,229,529 1,213,303
Current liabilities    
Accounts payable 20,069 18,328
Accrued expenses and other liabilities 47,723 52,800
Deferred income, current portion 2,345 2,019
Accrued advertising 13,328 14,819
Accrued interest payable 17,995 13,241
Dividend payable on preferred shares 1,468 1,467
Liabilities related to assets classified as held-for-sale 3,420 4,084
Operating lease liability, current portion 14,934 14,815
Redeemable preferred stock, current portion 91,836 91,836
Long-term debt, current portion 28,631 49,611
Acquisition purchase price payable 4,000 4,000
Total current liabilities 245,749 267,020
Deferred income, net of current portion 20,820 21,698
Deferred income tax liabilities, net 28,299 27,181
Operating lease liability, net of current portion 95,402 95,620
Long-term debt, net of current portion 1,020,428 958,630
Other liabilities 12,676 2,332
Total liabilities 1,423,374 1,372,481
Commitments and contingencies (Note 13)
Stockholders’ deficit    
Preferred stock, $0.0001 par value; 15,000,000 shares authorized; 3,272,980 shares issued and outstanding at March 26, 2023 and 3,252,154 shares issued and outstanding at December 25, 2022; liquidation preference $25 per share 44,131 45,504
Class A common stock and Class B common stock and additional paid-in capital as of March 26, 2023: $0.0001 par value per share; 51,600,000 shares authorized (Class A 50,000,000, Class B 1,600,000); 16,612,627 shares issued and outstanding (Class A 15,341,822, Class B 1,270,805). Common stock and additional paid-in capital as of December 25, 2022: $0.0001 par value; 51,600,000 shares authorized; 16,571,675 shares issued and outstanding (Class A 15,300,870, Class B 1,270,805) (27,183) (26,015)
Accumulated deficit (210,793) (178,667)
Total stockholders’ deficit (193,845) (159,178)
Total liabilities and stockholders’ deficit $ 1,229,529 $ 1,213,303