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Subsequent Events
3 Months Ended
May 30, 2020
Subsequent Event.  
Subsequent Events

17. Subsequent Events

The Company is closely monitoring the impact of the COVID-19 pandemic on all aspects of its business and the markets in which it operates, including how the pandemic will impact its customers, associates, suppliers, vendors, business partners and supply chain. Due to the significant amount of uncertainties that continue to exist relative to the pandemic, the Company is unable to predict the impact that COVID-19 will have on its financial position and results of operations, but such impact could be material.

As of June 25, 2020, the Company had liquidity of $1.7 billion, which consisted of availability to borrow under its Senior Secured Revolving Credit Facility of $1.5 billion and cash on hand of $180.0 million. The Company will continue to assess the impact of COVID-19 on the Company’s financial position. However, the extent to which the COVID-19 outbreak will impact the Company’s operations or financial results is uncertain, but such impact could be material.

During late May 2020 and early June 2020, a period of civil unrest took place in certain markets in which the Company operates and some of the Company’s stores were damaged. As of July 2, 2020, the Company was still assessing damages and losses and some of such damaged stores remain closed. The Company maintains insurance coverage for inventory and property damage and also maintains business interruption insurance coverage. The Company does not believe that the damages and losses, net of insurance claim settlement proceeds, will have a material impact on the Company's financial position or results of operations in future periods.