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Credit Facility
 9 Months Ended
Mar. 28, 2024
Debt Disclosure [Abstract]  
Credit Facility

Note 7 – Credit Facility

Our Second Amendment to the Amended and Restated Credit Agreement (the “Second Amendment”) dated September 29, 2023 provides for a $150,000 senior secured revolving credit facility (the “Credit Facility”), which was increased from $117,500, to provide extra available capacity for our short-term working capital requirements due to the Lakeville Acquisition. The Second Amendment also extends the maturity of the Credit Facility to September 29, 2028 and allows the Company to pay up to $100,000 in dividends per year, subject to meeting availability tests. The Credit Facility is secured by substantially all our assets other than machinery and equipment, real property and fixtures.

At March 28, 2024, we had $114,114 of available credit under the Credit Facility which reflects borrowings of $32,093 and reduced availability as a result of $3,793 in outstanding letters of credit. As of March 28, 2024, we were in compliance with all financial covenants under the Credit Facility.