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Loan Agreement
9 Months Ended
Oct. 02, 2011
Loan Agreement [Abstract] 
Loan Agreement

10. Loan Agreement

Lakes has a two-year interest only $8.0 million non-revolving line of credit loan agreement (the “Loan Agreement”) with a bank that expires in October 2012. The Loan Agreement is collateralized by primarily all of Lakes’ interest in the real property it owns in Minnetonka, Minnesota. Amounts borrowed under the Loan Agreement bear interest at 8.95%. Lakes’ Chief Executive Officer, Lyle Berman, personally guaranteed the Loan Agreement on behalf of Lakes. As of October 2, 2011 and January 2, 2011, no amounts were outstanding under the Loan Agreement.