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Long-Term Debt | 9 Months Ended
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Nov. 02, 2019
Long-Term Debt |
Long-Term Debt | (8) Long-Term Debt Long-term debt consisted of the following as of November 2, 2019 and February 2, 2019:
|  | November 2, |  | February 2, |
|  | 2019 |  | 2019 |
Term loan |  |  | 30,000 |  |  | 36,000 |
Less debt issuance costs |  |  | (304) |  |  | (368) |
|  |  | 29,696 |  |  | 35,632 |
Less current portion, net of discount and debt issuance costs |  |  | (7,915) |  |  | (7,915) |
Long-term portion |  | $ | 21,781 |  | $ | 27,717 |
Term Loan On May 23, 2018, the Company entered into the Term Loan, which was issued at a price of 100% of the aggregate principal amount of $40,000 and has a maturity date of May 23, 2023. Also on May 23, 2018, the Company borrowed $135,400 under the Revolving Line of Credit and used the proceeds from the Term Loan and the Revolving Line of Credit to repay the Company’s prior term loan with a financial institution that had an outstanding principal balance of $134,700 and was scheduled to mature on December 3, 2020 (the “Prior Term Loan”). The Term Loan bears interest at a rate of LIBOR plus 5.75%. As of November 2, 2019 and February 2, 2019, the Term Loan had an outstanding balance of $30,000 and $36,000, respectively. The outstanding amounts under the Term Loan as of November 2, 2019 and February 2, 2019 are offset on the condensed consolidated balance sheets by an unamortized debt issuance costs of $304 and $368, respectively. During the 13 and 39 weeks ended November 2, 2019, the Company recognized $21 and $64, respectively, of non-cash interest expense with respect to the amortization of the debt issuance costs. During the 13 and 39 weeks ended November 3, 2018, the Company recognized $21 and $1,152, respectively, of non-cash interest expense with respect to the amortization of the debt issuance costs. During the 13 and 39 weeks ended November 3, 2018, the Company recognized $0 and $678, respectively, of non-cash interest expense with respect to the amortization of the discount related to the Prior Term Loan. During the 13 weeks ended November 2, 2019, the Company made the required quarterly payment on the Term Loan of $2,000. Restricted Net Assets The provisions of the Term Loan and the Revolving Line of Credit restrict all of the net assets of the Company’s consolidated subsidiaries, which constitute all of the net assets on the Company’s condensed consolidated balance sheet as of November 2, 2019, from being used to pay any dividends without prior written consent from the financial institutions party to the Company’s Term Loan and Revolving Line of Credit.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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