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Long-term debt (Tables)

12 Months Ended

Mar. 27, 2021

Debt Disclosure [Abstract]

Summary of Long-Term Debt

(a) Long-term debt consists of the following:

		As of
		March 27, 2021				March 28, 2020
		(In thousands)
Term loan from SLR Credit Solutions, 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 $167,000 and $272,000, respectively). Refer to note 6 for additional information			12,333				12,228
$10 million term loan from Investissement Québec, bearing interest at an annual rate of 3.14%, repayable in 60 equal payments beginning in July 2021 (net of deferred financing costs of $44,000).			9,956				—
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))			1,887				2,109
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)). Repayable in August 2021.			1,573				1,757
Obligations under finance leases, at annual interest rates between 2.2% and 3.9%, secured by leasehold improvements, furniture, and equipment, maturing at various dates to June 2025.			273				187
			26,022				16,281
Current portion of long-term debt			2,960				64
		$	23,062			$	16,217

Summary of Future Minimum Lease Payments for Finance Leases

(c) Future minimum lease payments for finance leases required in the following five years are as follows (in thousands):

Year ending March:
2022		$	75
2023			75
2024			69
2025			68
2026			54
			341
Less imputed interest			68
		$	273

Summary of Principal Payment on Long Term Debt Including Obligation Under Finance Lease

(d) Principal payments on long-term debt required in the following five years and thereafter, including obligations under finance leases, are as follows (in thousands):

Year ending March:
2022		$	2,981
2023			14,575
2024			2,069
2025			2,068
2026			2,054
Thereafter			2,554
		$	26,301

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Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918701-209980

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Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation.

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