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Long-term debt (Tables) | 12 Months Ended
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Mar. 26, 2022
Debt Disclosure [Abstract] |
Summary of Long-Term Debt |
(a) | Long-term debt consists of the following:
|  | As of
|  | March 26, 2022 |  |  | March 27, 2021 |
|  | (In thousands)
Term loan from SLR Credit Solutions, bearing interest at an annual rate of CDOR plus 7.75% (CDOR plus 8.25% in fiscal 2021), repayable at maturity in December 2026, secured by the assets of the Company (net of deferred financing costs of $314,000 a nd $167,000, respectively). Refer to note 6 for additional information. |  |  | 12,186 |  |  |  | 12,333 |
$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 $20,000 and $44,000, respectively). |  |  | 8,816 |  |  |  | 9,956 |
$0.4 million term loan from Business Development Bank of Canada, bearing interest at an annual rate of 8.3% repayable in 72 monthly payments beginning in May 2021. |  |  | 374 |  |  |  | — |
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 14 (c)) |  |  | 1,875 |  |  |  | 1,887 |
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 14 (c)). Repayable in August 2021. |  |  | — |  |  |  | 1,573 |
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. |  |  | 249 |  |  |  | 273 |
|  |  | 23,500 |  |  |  | 26,022 |
Current portion of long-term debt |  |  | 2,129 |  |  |  | 2,960 |
|  | $ | 21,371 |  |  | $ | 23,062 |
Summary of Future Minimum Lease Payments for Finance Leases |
(d) | Future minimum lease payments for finance leases required in the following five years are as follows (in thousands):
Year ending March: |  |  |
2023 |  | $ | 75 |
2024 |  |  | 69 |
2025 |  |  | 67 |
2025 |  |  | 54 |
2026 |  |  | — |
|  |  | 265 |
Less imputed interes t |  |  | 16 |
|  | $ | 249 |
Summary of Principal Payment on Long Term Debt Including Obligation Under Finance Lease |
(e) | 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: |  |  |
2023 |  | $ | 2,146 |
2024 |  |  | 2,141 |
2025 |  |  | 2,139 |
2026 |  |  | 1,794 |
2027 |  |  | 13,387 |
Thereafter |  |  | 1,893 |
|  | $ | 23,500 |

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