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Restructuring (Tables) | 6 Months Ended
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Jun. 30, 2025
Restructuring and Related Activities [Abstract] |
Schedule of Components of Restructuring Expenses | th e components of the Company’s restructuring charges for the 2024 Plan were as follows:
| Successor |  |  |  | Predecessor |
| Period from |  |  |  | Period from |  |  | Period from |
| June 25, 2025 |  |  |  | March 30, 2025 |  |  | December 29, 2024 |
| through June 30, 2025 |  |  |  | through June 24, 2025 |  |  | through June 24, 2025 |
Restructuring charges: |  |  |  |  |  |  |  |  |
Employee termination benefit costs | $ | — |  |  |  | $ | 2,617 |  |  | $ | 3,753 |
Other cash restructuring charges |  | — |  |  |  |  | 323 |  |  |  | 658 |
Total restructuring charges | $ | — |  |  |  | $ | 2,940 |  |  | $ | 4,411 |
For the period from June 25, 2025 through June 30, 2025 (Successor), the period from March 30, 2025 through June 24, 2025 (Predecessor) and the period from December 29, 2024 through June 24, 2025 (Predecessor), restructuring charges for the 2024 Plan were recorded in the Company’s consolidated statements of operations as follows:
| Successor |  |  |  | Predecessor |
| Period from |  |  |  | Period from |  |  | Period from |
| June 25, 2025 |  |  |  | March 30, 2025 |  |  | December 29, 2024 |
| through June 30, 2025 |  |  |  | through June 24, 2025 |  |  | through June 24, 2025 |
Cost of revenues | $ | — |  |  |  | $ | (17 | ) |  | $ | (248 | )
Selling, general and administrative expenses |  | — |  |  |  |  | 2,957 |  |  |  | 4,659 |
Total restructuring charges | $ | — |  |  |  | $ | 2,940 |  |  | $ | 4,411 |
, the components of the Company’s restructuring charges for the 2023 Plan were as follows:
| Successor |  |  |  | Predecessor |
| Period from |  |  |  | Period from |  |  | Period from |
| June 25, 2025 |  |  |  | March 30, 2025 |  |  | December 29, 2024 |
| through June 30, 2025 |  |  |  | through June 24, 2025 |  |  | through June 24, 2025 |
Restructuring charges: |  |  |  |  |  |  |  |  |
Real Estate Restructuring - Employee termination benefit costs | $ | — |  |  |  | $ | (2,054 | ) |  | $ | (2,207 | )
Organizational Restructuring - Employee termination benefit costs |  | — |  |  |  |  | (1,980 | ) |  |  | (2,326 | )
Total restructuring charges | $ | — |  |  |  | $ | (4,034 | ) |  | $ | (4,533 | )
For the period from June 25, 2025 through June 30, 2025 (Successor), the period from March 30, 2025 through June 24, 2025 (Predecessor) and the period from December 29, 2024 through June 24, 2025 (Predecessor), restructuring charges for the 2023 Plan were recorded in the Company’s consolidated statements of operations as follows:
| Successor |  |  |  | Predecessor |
| Period from |  |  |  | Period from |  |  | Period from |
| June 25, 2025 |  |  |  | March 30, 2025 |  |  | December 29, 2024 |
| through June 30, 2025 |  |  |  | through June 24, 2025 |  |  | through June 24, 2025 |
Cost of revenues | $ | — |  |  |  | $ | (2,054 | ) |  | $ | (2,207 | )
Selling, general and administrative expenses |  | — |  |  |  |  | (1,980 | ) |  |  | (2,326 | )
Total restructuring charges | $ | — |  |  |  | $ | (4,034 | ) |  | $ | (4,533 | )
Schedule of Restructuring-related Liabilities | The following table presents a roll-forward of cash restructuring-related liabilities, which is included within accrued expenses in the Company’s consolidated balance sheets:
| Employee termination benefit costs |  |  | Lease termination costs |  |  | Other cash restructuring charges |  |  | Total |
Balance at December 30, 2023 (Predecessor) | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Charges |  | 15,520 |  |  |  | 168 |  |  |  | 1,141 |  |  |  | 16,829 |
Payments |  | (8,590 | ) |  |  | — |  |  |  | (1,141 | ) |  |  | (9,731 | )
Change in estimate |  | 214 |  |  |  | — |  |  |  | — |  |  |  | 214 |
Balance at December 28, 2024 (Predecessor) | $ | 7,144 |  |  | $ | 168 |  |  | $ | — |  |  | $ | 7,312 |
Charges |  | 3,062 |  |  |  | — |  |  |  | 658 |  |  |  | 3,720 |
Payments |  | (4,421 | ) |  |  | (168 | ) |  |  | (658 | ) |  |  | (5,247 | )
Change in estimate |  | 691 |  |  |  | — |  |  |  | — |  |  |  | 691 |
Balance at June 24, 2025 (Predecessor) | $ | 6,476 |  |  | $ | — |  |  | $ | — |  |  | $ | 6,476 |
Balance at June 25, 2025 (Successor) | $ | 6,476 |  |  | $ | — |  |  | $ | — |  |  | $ | 6,476 |
Charges |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Payments |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Change in estimate |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Balance at June 30, 2025 (Successor) | $ | 6,476 |  |  | $ | — |  |  | $ | — |  |  | $ | 6,476 |
The following table presents a roll-forward of cash restructuring-related liabilities, which is included within accrued expenses in the Company’s consolidated balance sheets:
| Real Estate Restructuring - |  |  | Real Estate Restructuring - |  |  | Organizational Restructuring - |  |  |  |  |  |  |
| Lease termination costs |  |  | Employee termination benefit costs |  |  | Employee termination benefit costs |  |  | Other cash restructuring charges |  |  | Total |
Balance at December 31, 2022 (Predecessor) | $ | — |  |  | $ | 1,798 |  |  | $ | 11,810 |  |  | $ | — |  |  | $ | 13,608 |
Charges |  | 12,924 |  |  |  | 5,678 |  |  |  | 26,927 |  |  |  | 1,577 |  |  |  | 47,106 |
Payments |  | (12,768 | ) |  |  | (4,813 | ) |  |  | (15,142 | ) |  |  | (1,233 | ) |  |  | (33,956 | )
Balance at December 30, 2023 (Predecessor) | $ | 156 |  |  | $ | 2,663 |  |  | $ | 23,595 |  |  | $ | 344 |  |  | $ | 26,758 |
Charges |  | — |  |  |  | 2,363 |  |  |  | 2,547 |  |  |  | 581 |  |  |  | 5,491 |
Payments |  | (21 | ) |  |  | (1,835 | ) |  |  | (19,342 | ) |  |  | (925 | ) |  |  | (22,123 | )
Change in estimate |  | (135 | ) |  |  | 75 |  |  |  | (334 | ) |  |  | — |  |  |  | (394 | )
Balance at December 28, 2024 (Predecessor) | $ | — |  |  | $ | 3,266 |  |  | $ | 6,466 |  |  | $ | — |  |  | $ | 9,732 |
Payments |  | — |  |  |  | (619 | ) |  |  | (2,953 | ) |  |  | — |  |  |  | (3,572 | )
Change in estimate |  | — |  |  |  | (2,207 | ) |  |  | (2,326 | ) |  |  | — |  |  |  | (4,533 | )
Balance at June 24, 2025 (Predecessor) | $ | — |  |  | $ | 440 |  |  | $ | 1,187 |  |  | $ | — |  |  | $ | 1,627 |
Balance at June 25, 2025 (Successor) | $ | — |  |  | $ | 440 |  |  | $ | 1,187 |  |  | $ | — |  |  | $ | 1,627 |
Payments |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Change in estimate |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Balance at June 30, 2025 (Successor) | $ | — |  |  | $ | 440 |  |  | $ | 1,187 |  |  | $ | — |  |  | $ | 1,627 |

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- Definition Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 5.P.3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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- Definition Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.b.2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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