Consolidated Variable Interest Entities (Tables)

6 Months Ended

Jul. 03, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of consolidated VIEs' assets and liabilities included in the condensed consolidated balance sheets

The following table summarizes the carrying amounts and classification of the consolidated VIEs’ assets and liabilities included in the unaudited condensed consolidated balance sheets. The obligations of the consolidated VIEs other than Soho Restaurants are non-recourse to the Company, and the assets of the VIEs can be used only to settle those obligations.

	As of
(in thousands)	July 3, 2022			January 2, 2022
Cash and cash equivalents	$	6,565		$	7,187
Accounts receivable		2,548			4,137
Inventories		111			127
Prepaid expenses and other current assets		2,810			5,705
Total current assets		12,034			17,156
Property and equipment, net		79,530			89,753
Operating lease assets		228,031			238,786
Other intangible assets, net		288			160
Other non-current assets		182			205
Total assets		320,065			346,060
Accounts payable		5,567			11,258
Accrued liabilities		13,147			12,303
Indirect and employee taxes payable		360			599
Current portion of debt		—			21,092
Current portion of operating lease liabilities - sites trading more than one year		10,435			10,565
Other current liabilities		2,744			1,972
Total current liabilities		32,253			57,789
Related party loans, net of current portion and imputed interest		23,060			—
Operating lease liabilities, net of current portion - sites trading more than one year		264,962			278,171
Other non-current liabilities		383			872
Total liabilities		320,658			336,832
Net (liabilities) assets	$	(593	)	$	9,228