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Debt
 12 Months Ended
Oct. 02, 2021
Debt Disclosure [Abstract]  
Debt Debt
The Company's debt obligation consists of the Secured Credit Facility with J.P. Morgan Chase Bank, N.A. (the “Credit Facility”). In January 2021, the Company repaid all of its outstanding principal balance of $24.9 million under the J.P. Morgan Chase Bank, N.A. Secured Term Loan (the "Term Loan") which had an original maturity date of October 28, 2021. As of October 2, 2021, the Company did not have any remaining short- or long-term debt obligations, and as of October 3, 2020, the Company’s short- and long-term debt obligations were as follows:
October 3, 2020
RateBalance
(In thousands)
Term Loan (1)
2.4 %$25,000 
Unamortized debt issuance costs (2)
(82)
Total indebtedness24,918 
Less short term portion(6,667)
Long-term debt$18,251 

(1)Original maturity date of October 28, 2021, and bore interest at a variable rate equal to an adjusted LIBOR plus 2.25%, payable quarterly.
(2)Debt issuance costs were recorded as a debt discount and charged to interest expense over the term of the agreement.

The Credit Facility allowed the Company to borrow up to $80.0 million restricted to the value of the borrowing base, which was based on the value of inventory and accounts receivable and was subject to quarterly redetermination. The Credit Facility had an original maturity date of October 28, 2021, and could be drawn as Commercial Bank Floating Rate Loans (at the higher of prime rate or adjusted LIBOR plus 2.50%) or Eurocurrency Loans (at LIBOR plus an applicable margin). As of October 2, 2021, and October 3, 2020, the Company had no outstanding borrowings and $2.9 million and $0.5 million, respectively, in undrawn letters of credit that reduce the availability under the Credit Facility.

Debt obligations under the Credit Facility and the Term Loan required the Company to maintain a consolidated fixed charge ratio of at least 1.0, restrict distribution of dividends unless certain conditions were met, such as having a fixed charge
ratio of at least 1.15, and required financial statement reporting and delivery of borrowing base certificates. As of October 2, 2021, and October 3, 2020, the Company was in compliance with all financial covenants. The Credit Facility and the Term Loan were collateralized by eligible inventory and accounts receivable of the Company, as well as the Company's intellectual property including patents and trademarks. For more information, refer to Note 15. Subsequent Event.