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Long-term debt (Tables) | 12 Months Ended
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Mar. 30, 2019
Debt Disclosure [Abstract] |
Summary of Long-Term Debt |
(a) | Long-term debt consists of the following:
|  | As of |
|  | March 30, 2019 |  |  | March 31, 2018 * |
|  | (In thousands) |
Term loan from Crystal Financial LLC, bearing interest at an annual rate of CDOR plus 8.25%, repayable at maturity in October 2022, secured by the assets of the Company (net of deferred financing costs of $ 378,000 ). Refer to note 6 for additional information |  |  | 12,122 |  |  |  | — |
USD $ 1.5 million cash advance owing to the Company’s controlling shareholder, Montel, bearing interest at an annual rate of 11%, net of withholding taxes (note 15(c)) |  |  | 2,005 |  |  |  | 1,934 |
USD $ 2.5 million loan owing to the Company’s controlling shareholder, Montel, bearing interest at an annual rate of 11%, net of withholding taxes (note 15(c)) |  |  | 1,670 |  |  |  | 3,223 |
$ 5 million term loan from Investissement Quebec, bearing interest at an annual rate of Canadian prime plus 7.0% and secured by the assets of the Company. The outstanding balance as at March 30, 2019 has been repaid on June 5, 2019 , and as such has been presented as short-term liabilities within current portion of long-term debt on the Company’s balance sheet. |  |  | 578 |  |  |  | 1,553 |
$ 2 million term loan from Investissement Québec, bearing interest at an annual rate of Canadian prime plus 10% and secured by the assets of the Company. The outstanding balance as at March 30, 2019 has been repaid on June 5, 2019 , and as such has been presented as short-term liabilities within current portion of long-term debt on the Company’s balance sheet. |  |  | 253 |  |  |  | 755 |
Obligations under capital leases, at annual interest rates between 3.6% and 25.8%, secured by leasehold improvements, furniture, and equipment, maturing at various dates to March 2023. |  |  | 476 |  |  |  | 745 |
|  |  | 17,104 |  |  |  | 8,210 |
Current portion of long-term debt |  |  | 993 |  |  |  | 3,372 |
|  | $ | 16,111 |  |  | $ | 4,838 |
(*) Recast (refer to note 1)
Summary of Future Minimum Lease Payments for Capital Leases |
(b) | Future minimum lease payments for capital leases required in the following five years and thereafter are as follows (in thousands):
Year ending March: |  |  |  |
2020 |  | $ | 202 |
2021 |  |  | 158 |
2022 |  |  | 137 |
2023 |  |  | 78 |
Thereafter |  |  | - |
|  |  | 575 |
Less imputed interest |  |  | 99 |
|  | $ | 476 |
Summary of Principal Payment on Long Term Debt Including Obligation Under Capital Lease |
(c) | Principal payments on long-term debt required in the following five years and thereafter, including obligations under capital leases, are as follows (in thousands):
Year ending March: |  |  |  |
2020 |  | $ | 993 |
2021 |  |  | 1,421 |
2022 |  |  | 118 |
2023 |  |  | 12,567 |
Thereafter |  |  | 2,005 |
|  | $ | 17,104 |

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- Definition Tabular disclosure of future minimum lease payments as of the date of the latest balance sheet presented, in aggregate and for each of the five years succeeding fiscal years, with separate deductions from the total for the amount representing executor costs, including any profit thereon, included in the minimum lease payments and for the amount of the imputed interest necessary to reduce the net minimum lease payments to present value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=84164817&loc=d3e45280-112737 + Details
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