Related Party Transactions

6 Months Ended

Nov. 02, 2024

Related Party Transactions [Abstract]

Related Party Transactions

Note 14. Related Party Transactions

The Company’s former Interim Chief Financial Officer, David Rawden, is a director of AlixPartners, LLP (“AlixPartners”), a business advisory firm that currently provides a number of consulting services to the Company. The Company’s former Interim Chief Executive Officer, Kevin Nystrom, is a partner and managing director of AlixPartners. In the three and six months ended November 2, 2024, the Company recognized $5.4 million and $8.9 million, respectively, of expense for consulting services provided by AlixPartners. As of November 2, 2024, $4.4 million was payable to AlixPartners, of which $3.2 million was reflected in other accrued liabilities and $1.2 million was reflected in accounts payable on the condensed consolidated balance sheets. As of April 27, 2024, $1.4 million was payable to AlixPartners which was reflected in other accrued liabilities on the condensed consolidated balance sheets.