Quarterly report [Sections 13 or 15(d)]

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jul. 12, 2026
Dec. 28, 2025
Current assets:    
Cash and cash equivalents $ 22,849 $ 19,924
Accounts receivable, net 13,813 19,441
Inventories 17,012 25,729
Prepaid expenses and other current assets 12,285 14,234
Restricted cash 9,675 9,615
Current assets held for sale 53,791 0
Total current assets 129,425 88,943
Property and equipment, net 97,826 158,105
Operating lease assets, net 285,494 295,996
Intangible assets, net 7,952 9,155
Noncurrent assets held for sale 0 2,263
Other assets, net 8,015 9,065
Total assets 528,712 563,527
Current liabilities:    
Accounts payable 27,897 31,391
Accrued payroll and payroll-related liabilities 38,972 44,039
Unearned revenue 15,868 27,287
Current portion of operating lease liabilities 49,152 49,111
Accrued liabilities and other 49,188 46,801
Total current liabilities 181,077 198,629
Long-term debt 163,356 164,741
Long-term portion of operating lease liabilities 282,790 300,055
Other non-current liabilities 7,079 6,450
Total liabilities 634,302 669,875
Commitments and contingencies (see Note 10.)
Stockholders' equity (deficit):    
Common stock, $0.001 par value: 45,000 shares authorized; 22,050 shares issued; 18,888 and 18,009 shares outstanding as of July 12, 2026 and December 28, 2025 22 22
Preferred stock, $0.001 par value: 3,000 shares authorized; no shares issued and outstanding as of July 12, 2026 and December 28, 2025 0 0
Treasury stock: 3,162 and 4,041 shares, at cost, as of July 12, 2026 and December 28, 2025 (111,812) (143,247)
Paid-in capital 184,297 213,180
Accumulated other comprehensive income (loss), net of tax (62) (60)
Retained earnings (accumulated deficit) (178,035) (176,243)
Total stockholders' equity (deficit) (105,590) (106,348)
Total liabilities and stockholders' equity (deficit) $ 528,712 $ 563,527