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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Feb. 26, 2023
May 29, 2022
Current Assets:    
Cash and cash equivalents $ 2,950 $ 991
Accounts receivable, less allowance for credit losses 32,371 40,094
Inventories 48,696 44,300
Prepaid expenses and other current assets 4,422 5,183
Current assets, discontinued operations 0 33,144
Total Current Assets 88,439 123,712
Property and equipment, net 120,799 115,031
Operating lease right-of-use assets 5,924 6,519
Goodwill 13,881 13,881
Trademarks/tradenames, net 4,400 4,700
Other non-current assets 2,710 2,900
Non-current assets, discontinued operations 0 11,063
Total Assets 236,153 277,806
Current Liabilities:    
Accounts payable 14,762 12,988
Accrued compensation 6,733 8,941
Other accrued liabilities 12,012 6,847
Current portion of lease liabilities 1,455 4,592
Deferred revenue 2,711 919
Line of credit 0 40,000
Current portion of long-term debt, net 0 98,178
Current liabilities, discontinued operations 0 4,345
Total Current Liabilities 37,673 176,810
Line of credit 16,000 0
Long-term debt, net 98,964 0
Long-term lease liabilities 10,516 8,356
Deferred taxes, net 80 126
Other non-current liabilities 203 190
Non-current liabilities, discontinued operations 0 1,627
Total Liabilities 163,436 187,109
Convertible Preferred Stock    
Convertible Preferred Stock, 0.001 par value; 2,000 shares authorized; 39 shares issued and outstanding at February 26, 2023 (none at May 29, 2022), respectively 38,510 0
Stockholders’ Equity:    
Common Stock, $0.001 par value; 50,000 shares authorized; 30,319 and 29,513 shares issued and outstanding at February 26, 2023 and May 29, 2022, respectively 30 30
Additional paid-in capital 174,268 167,352
Accumulated deficit (140,091) (76,099)
Accumulated other comprehensive loss 0 (586)
Total Stockholders’ Equity 34,207 90,697
Total Liabilities, Convertible Preferred Stock and Stockholders’ Equity $ 236,153 $ 277,806