| Long-term debt |
| (a) | Long-term debt consists of the following: |
| | | | | | | | | | | | As of | | | | | March 28, 2020 | | | March 30, 2019 | | | | | (In thousands) | | Term loan from Crystal Financial LLC, 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 $272,000 and $378,000, respectively). Refer to note 6 for additional information | | | 12,228 | | | | 12,122 | | 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)) | | | 2,109 | | | | 2,005 | | 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)) | | | 1,757 | | | | 1,670 | | $5 million term loan from Investissement Québec, bearing interest at an annual rate of Canadian prime plus 7.0% and secured by the assets of the Company, repaid o n June 5, 2019. . | | | — | | | | 578 | | $2 million term loan from Investissement Québec, bearing interest at an annual rate of Canadian prime plus 10% and secured by the assets of the Company, repaid on June 5, 2019 | | | — | | | | 253 | | Obligations under finance leases, at annual interest rates between 2.2% and 3.3%, secured by leasehold improvements, furniture, and equipment, maturing at various dates to June 2025 . | | | 187 | | | | 476 | | | | | | | | | | | | | | 16,281 | | | | 17,104 | | Current portion of long-term debt | | | 64 | | | | 993 | | | | | | | | | | | | | $ | 16,217 | | | $ | 16,111 | | | | | | | | | | | | (b) | Future minimum lease payments for finance leases required in the following five years are as follows (in thousands): |
| | | | | | | | | | | | $ | 76 | | | | | 71 | | | | | 55 | | | | | 20 | | | | | 4 | | | | | | | | | | 226 | | | | | | | | | | 39 | | | | | | | | | $ | 187 | | | | | | | | (c) | Principal payments on long-term debt required in the following five years and thereafter, including obligations under finance leases, are as follows (in thousands): |
| | | | | | | | | | | | $ | 64 | | | | | 1,814 | | | | | 12,546 | | | | | 17 | | | | | 3 | | | | | 2,109 | | | | | | | | | $ | 16,553 | | | | | | | | (d) | As of March 28, 2020 and March 30, 2019, the Company had $0.9 million, and $1.0 million of outstanding letters of credit which were provided to certain lenders, respectively. |
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