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Debt (Tables)
3 Months Ended
Apr. 30, 2021
Debt Disclosure [Abstract]  
Schedule of Company's Long Term Debt

The Company's long-term debt consisted of the following:

 

 

 

 

April 30, 2021

 

 

May 1, 2020

 

 

January 29, 2021

 

(in thousands)

 

 

Amount

 

 

 

Interest Rate

 

 

Amount

 

 

 

Interest Rate

 

 

Amount

 

 

 

Interest Rate

 

Former Term Loan Facility

 

 

$

 

 

 

 

%

 

$

384,100

 

 

 

 

4.25

%

 

$

 

 

 

 

%

Current Term Loan Facility, maturing September 9, 2025

 

 

 

268,125

 

 

 

 

10.75

%

 

 

 

 

 

 

%

 

 

271,563

 

 

 

 

10.75

%

 

 

 

 

268,125

 

 

 

 

 

 

 

 

384,100

 

 

 

 

 

 

 

 

271,563

 

 

 

 

 

 

Less: Current portion of long-term debt

 

 

 

13,750

 

 

 

 

 

 

 

 

382,858

 

 

 

 

 

 

 

 

13,750

 

 

 

 

 

 

Less: Unamortized debt issuance costs

 

 

 

11,585

 

 

 

 

 

 

 

 

1,242

 

 

 

 

 

 

 

 

12,181

 

 

 

 

 

 

Long-term debt, net

 

 

$

242,790

 

 

 

 

 

 

 

$

 

 

 

 

 

 

 

$

245,632

 

 

 

 

 

 

 

Summary of Company's Borrowing Availability Under ABL Facility

The following table summarizes the Company's borrowing availability under the ABL Facility:

 

 

 

April 30, 2021

 

 

May 1, 2020

 

 

January 29, 2021

 

(in thousands)

 

Amount

 

Interest Rate

 

 

Amount

 

Interest Rate

 

 

Amount

 

Interest Rate

 

ABL Facility maximum borrowing

 

$

275,000

 

 

 

 

 

$

200,000

 

 

 

 

 

$

275,000

 

 

 

 

Less: Outstanding borrowings

 

 

80,000

 

2.75%

 

 

 

75,000

 

2.07%

 

 

 

25,000

 

3.00%

 

Less: Outstanding letters of credit

 

 

16,920

 

 

 

 

 

 

8,656

 

 

 

 

 

 

27,131

 

 

 

 

Borrowing availability under ABL Facility

 

$

178,080

 

 

 

 

 

$

116,344

 

 

 

 

 

$

222,869