Debt (Tables)
|
3 Months Ended |
Mar. 31, 2016 |
|---|
| Debt Disclosure [Abstract] |
|
| Summary of Revolver Based upon Borrowers' Eligible Accounts Receivable and Inventory |
The availability under the Revolver is based upon the
Borrowers’ eligible accounts receivable and eligible
inventory and is comprised as follows (in thousands):
|
|
|
|
|
|
|
|
|
| |
|
March 31,
2016 |
|
|
December 31,
2015 |
|
|
Revolver:
|
|
|
|
|
|
|
|
|
|
Gross Availability
|
|
$ |
10,000 |
|
|
$ |
10,000 |
|
|
Outstanding Draws
|
|
|
(3,780 |
) |
|
|
— |
|
|
Letter of Credit
|
|
|
— |
|
|
|
(81 |
) |
|
Landlord Reserves
|
|
|
(45 |
) |
|
|
(37 |
) |
|
|
|
|
|
|
|
|
|
|
Availability on Revolver
|
|
$ |
6,175 |
|
|
$ |
9,882 |
|
|
|
|
|
|
|
|
|
|
| Summary of Future Maturities of Loans and Capital Leases |
The Company had approximate future maturities of loans and capital
leases as of March 31, 2016 as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
2016 |
|
|
2017 |
|
|
2018 |
|
|
2019 |
|
|
2020 |
|
|
Total |
|
|
Term Loan A (a)
|
|
$ |
— |
|
|
$ |
3,860 |
|
|
$ |
3,860 |
|
|
$ |
3,860 |
|
|
$ |
9,630 |
|
|
$ |
21,210 |
|
|
Term Loan B
|
|
|
681 |
|
|
|
908 |
|
|
|
1,136 |
|
|
|
1,136 |
|
|
|
2,261 |
|
|
|
6,122 |
|
|
Unamortized value of the debt issuance costs (b)
|
|
|
(25 |
) |
|
|
(31 |
) |
|
|
(31 |
) |
|
|
(31 |
) |
|
|
(8 |
) |
|
|
(126 |
) |
|
Revolver
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
3,780 |
|
|
|
3,780 |
|
|
Capital Leases
|
|
|
2,585 |
|
|
|
2,561 |
|
|
|
1,361 |
|
|
|
117 |
|
|
|
— |
|
|
|
6,624 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
3,241 |
|
|
$ |
7,298 |
|
|
$ |
6,326 |
|
|
$ |
5,082 |
|
|
$ |
15,663 |
|
|
$ |
37,610 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (a) |
The Company has prepaid its Term Loan
A principal payments due on June 30, 2016, September 30, 2016 and
December 31, 2016. Each of these payments is $965,
representing a total prepayment of $2,895 |
| (b) |
Includes the reclassification of the
debt issuance costs as a result of the Company adopting ASU
2015-03 |
|
| Summary of Company's Current and Long-Term Debt (Including Capital Leases) |
The following is a breakdown of the Company’s current and
long-term debt (including capital leases) as of March 31, 2016 and
December 31, 2015 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2016
|
|
|
December 31, 2015
|
|
| |
|
Current
Portion of
Long-Term
Debt |
|
|
Long-Term
Debt |
|
|
Total |
|
|
|
|
Current
Portion of
Long-Term
Debt |
|
|
Long-Term
Debt |
|
|
Total |
|
|
Term Loans
|
|
$ |
1,873 |
|
|
$ |
25,459 |
|
|
$ |
27,332 |
|
|
Term Loans |
|
$ |
1,873 |
|
|
$ |
26,651 |
|
|
$ |
28,524 |
|
|
Unamortized value of the debt issuance costs (a)
|
|
$ |
— |
|
|
$ |
(126 |
) |
|
|
(126 |
) |
|
Unamortized value of the debt issuance costs (a)
|
|
$ |
— |
|
|
$ |
(134 |
) |
|
|
(134 |
) |
|
Revolver
|
|
|
— |
|
|
|
3,780 |
|
|
|
3,780 |
|
|
Revolver |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Capital Leases
|
|
|
3,304 |
|
|
|
3,320 |
|
|
|
6,624 |
|
|
Capital Leases |
|
|
3,187 |
|
|
|
3,233 |
|
|
|
6,420 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$ |
5,177 |
|
|
$ |
32,433 |
|
|
$ |
37,610 |
|
|
Total |
|
$ |
5,060 |
|
|
$ |
29,750 |
|
|
$ |
34,810 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (a) |
Includes the reclassification of the
debt issuance costs as a result of the Company adopting ASU
2015-03 |
|