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Long-term debt (Tables)

12 Months Ended

Mar. 25, 2023

Debt Disclosure [Abstract]

Summary of Long-Term Debt

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

		As of
		March 25, 2023				March 26, 2022
		(In thousands)
Term loan from SLR Credit Solutions, bearing interest at an annual rate of CDOR plus 7.75%, repayable at maturity in December 2026, secured by the assets of the Company (net of deferred financing costs of $247,000 and $314,000, respectively). Refer to Note 6 for additional information.			12,253				12,186
$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 $8,000 and $20,000, respectively).			6,825				8,816
$0.4 million term loan from Business Development Bank of Canada, bearing bearing interest at an annual rate of 8.3% repayable in 72 monthly payments beginning in May 2021.			303				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 with holding taxes (Note 14(c))			2,064				1,875
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.			175				249
Eligible borrowing amount of up to $4.3 million loan from Investissement Québec, bearing interest at an annual rate of 1.41%, repayable in 60 equal payments beginning in June 2027 (net of deferred financing costs of $56,000)			2,690				—
			24,313				23,500
Current portion of long-term debt			2,133				2,129
		$	22,180			$	21,371

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:
2024		$	62
2025			64
2026			52
2027			—
2028			—
			178
Less imputed interest			3
		$	175

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:
2024		$	2,133
2025			2,135
2026			2,123
2027			13,093
2028			475
Thereafter			4,354
		$	24,313

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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 https://asc.fasb.org/extlink&oid=128292326&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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