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Debt (Tables)
3 Months Ended
Apr. 29, 2022
Debt Disclosure [Abstract]  
Summary of Company's Borrowing Availability Under ABL Facility

The following table summarizes the Company’s borrowing availability, before consideration of the Loan Cap, under the ABL Facility:

 

 

April 29, 2022

 

 

April 30, 2021

 

 

January 28, 2022

(in thousands)

 

Amount

 

 

Interest Rate

 

 

Amount

 

 

Interest Rate

 

 

Amount

 

 

Interest Rate

ABL Facility maximum borrowing

 

$

275,000

 

 

 

 

 

 

$

275,000

 

 

 

 

 

 

$

275,000

 

 

 

Less: Outstanding borrowings

 

 

125,000

 

 

1.84%

 

 

 

80,000

 

 

2.75%

 

 

 

 

 

―%

Less: Outstanding letters of credit

 

 

14,619

 

 

 

 

 

 

 

16,920

 

 

 

 

 

 

 

23,521

 

 

 

Borrowing availability under ABL Facility

 

$

135,381

 

 

 

 

 

 

$

178,080

 

 

 

 

 

 

$

251,479

 

 

 

Schedule of Company's Long Term Debt

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

 

 

 

April 29, 2022

 

 

April 30, 2021

 

 

January 28, 2022

 

(in thousands)

 

Amount

 

 

Interest Rate

 

 

Amount

 

 

Interest Rate

 

 

Amount

 

 

Interest Rate

 

Term Loan Facility

 

$

254,375

 

 

10.76%

 

 

$

268,125

 

 

10.75%

 

 

$

257,813

 

 

10.75%

 

Less: Current portion of long-term debt

 

 

13,750

 

 

 

 

 

 

 

13,750

 

 

 

 

 

 

 

13,750

 

 

 

 

 

Less: Unamortized debt issuance costs

 

 

8,922

 

 

 

 

 

 

 

11,585

 

 

 

 

 

 

 

9,589

 

 

 

 

 

Long-term debt, net

 

$

231,703

 

 

 

 

 

 

$

242,790

 

 

 

 

 

 

$

234,474