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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Nov. 27, 2022
May 29, 2022
Current Assets:    
Cash and cash equivalents $ 6,830 $ 1,643
Accounts receivable, less allowance for credit losses 35,689 48,172
Inventories 77,524 66,845
Prepaid expenses and other current assets 7,049 7,052
Total Current Assets 127,092 123,712
Property and equipment, net 118,852 118,531
Operating lease right-of-use assets 7,951 8,580
Goodwill 13,881 13,881
Trademarks/tradenames, net 7,400 8,700
Customer relationships, net 1,292 1,400
Other assets 2,605 3,002
Total Assets 279,073 277,806
Current Liabilities:    
Accounts payable 27,971 15,802
Accrued compensation 4,602 9,238
Other accrued liabilities 10,426 7,647
Current portion of lease liabilities 5,013 5,026
Deferred revenue 731 919
Line of credit 48,000 40,000
Current portion of long-term debt, net 98,953 98,178
Total Current Liabilities 195,696 176,810
Long-term debt, net 0 0
Long-term lease liabilities 8,999 9,983
Deferred taxes, net 10 126
Other non-current liabilities 201 190
Total Liabilities 204,906 187,109
Stockholders’ Equity:    
Common stock, $0.001 par value; 50,000 shares authorized; 30,297 and 29,513 shares issued and outstanding at November 27, 2022 and May 29, 2022, respectively 30 30
Additional paid-in capital 174,036 167,352
Retained earnings (accumulated deficit) (99,899) (76,099)
Accumulated other comprehensive loss 0 (586)
Total Stockholders’ Equity 74,167 90,697
Total Liabilities and Stockholders’ Equity $ 279,073 $ 277,806