Short-Term Borrowings And Current Portion Of Long-Term Debt

12 Months Ended

Dec. 28, 2014

Short-term Debt, Debt Default [Abstract]

Short-Term Borrowings And Current Portion Of Long-Term Debt

SHORT-TERM BORROWINGS AND CURRENT PORTION OF LONG-TERM DEBT

Short-term borrowings and current portion of long-term debt at December 28, 2014 and at December 29, 2013 consisted of the following:

(amounts in thousands)	December 28, 2014		December 29, 2013
Overdraft	$	65	$	—
Current portion of long-term debt	171		435
Total short-term borrowings and current portion of long-term debt	$	236	$	435

In December 2011, we entered into a new five-year Hong Kong banking facility. In June 2012, $8.0 million (HKD 61.8 million) was paid in order to extinguish our existing Hong Kong term loan.

In March 2013, we entered into a new $2.3 million Sri Lanka term loan. Borrowings under this loan were used to pay down the Sri Lanka banking facility in the second quarter of 2013. In June 2013, in connection with the sale of our 51% interest in our Shore to Shore Sri Lanka entity, the outstanding balance of the term loan was transferred to the entity holding the non-controlling interest. The balance of the term loan at the date of transfer was $2.2 million.

In October 2009, we entered into a $12.0 million (€8.0 million) full-recourse factoring arrangement in Germany. In September 2012, $7.4 million (€5.7 million) was paid in order to extinguish this short-term full-recourse factoring agreement.