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Consumer Loans Receivable (Tables)
 12 Months Ended
Apr. 01, 2023
Receivables [Abstract]  
Consumer Loans Receivable
The following table summarizes consumer loans receivable (in thousands):
April 1,
2023		April 2,
2022
Loans held for investment, previously securitized$21,000 $26,014 
Loans held for investment13,117 14,771 
Loans held for sale
10,846 8,500 
Construction advances
706 3,547 
45,669 52,832 
Deferred financing fees and other, net
(368)(833)
Allowance for loan losses
(1,153)(2,115)
44,148 49,884 
Less current portion(17,019)(20,639)
$27,129 $29,245 
Allowance for loan loss The following table represents changes in the estimated allowance for loan losses, including related additions and deductions to the allowance for loan losses (in thousands):
April 1,
2023		April 2,
2022
Allowance for loan losses at beginning of period$2,115 $3,188 
Change in estimated loan losses, net(944)(541)
Charge-offs(37)(532)
Recoveries19 — 
Allowance for loan losses at end of period$1,153 $2,115 
Consumer Loans Held for Investment Characteristics The consumer loans held for investment had the following characteristics:
April 1,
2023		April 2,
2022
Weighted average contractual interest rate8.18 %8.32 %
Weighted average effective interest rate8.82 %9.21 %
Weighted average months to maturity150151
Deliquency Status of Consumer Loans The following table is a consolidated summary of the delinquency status of the outstanding amortized cost of consumer loans receivable (in thousands):
April 1,
2023		April 2,
2022
Current$43,252 $49,546 
31 to 60 days1,247 1,202 
61 to 90 days213 41 
91+ days957 2,043 
$45,669 $52,832 
Gross Consumer Loans Receivable by Credit Quality and Fiscal Year of Origination
The following table disaggregates gross consumer loans receivable by credit quality indicator and fiscal year of origination (in thousands):
April 1, 2023
20232022202120202019PriorTotal
Prime- FICO score 680 and greater$9,471 $185 $1,051 $1,982 $1,191 $16,601 $30,481 
Near Prime- FICO score 620-6791,695 — 1,012 1,131 1,550 8,244 13,632 
Sub-Prime- FICO score less than 62084 — 19 51 — 1,033 1,187 
No FICO score— — — — 24 345 369 
$11,250 $185 $2,082 $3,164 $2,765 $26,223 $45,669 
April 2, 2022
20222021202020192018PriorTotal
Prime- FICO score 680 and greater$8,155 $1,615 $2,371 $1,339 $853 $20,485 $34,818 
Near Prime- FICO score 620-6791,661 1,274 1,413 1,976 617 9,266 16,207 
Sub-Prime- FICO score less than 62045 20 52 — — 1,318 1,435 
No FICO score— — — 26 — 346 372 
$9,861 $2,909 $3,836 $3,341 $1,470 $31,415 $52,832 
Geographic Concentration of Consumer Loans Receivable Loan contracts secured by geographically concentrated collateral could experience higher rates of delinquencies, default and foreclosure losses than loan contracts secured by collateral that is more geographically dispersed. As of April 1, 2023, 44% of the outstanding principal balance of the consumer loans receivable portfolio was concentrated in Texas and 13% was concentrated in Florida. As of April 2, 2022, 39% of the outstanding principal balance of the consumer loans receivable portfolio was concentrated in Texas and 17% was concentrated in Florida. Other than Texas and Florida, no state had concentrations in excess of 10% of the principal balance of consumer loans receivable as of April 1, 2023 or April 2, 2022.