|6 Months Ended|
Jul. 03, 2023
|Subsequent Events [Abstract]|
|Subsequent Events||Subsequent Events
On July 7, 2023 the Credit Agreement was amended through the Sixteenth Amendment, which amended the definition of EBITDA for the purposes of expanding the scope of non-recurring items that may be included in our determination of Adjusted EBTIDA, as well as modifications to certain covenants for leverage and fixed charge ratios.
As discussed in Note 8 “Commitments and Contingencies” to the consolidated financial statements included within this report for subsequent event regarding the case of Second 82nd SM, LLC v. BF NY 82, LLC et al., on August 14, 2023 the Court entered an order granting the Landlord’s Motion for Summary Judgment and ordered a damages hearing on the motion.
Subsequent to July 3, 2023, the Company closed one Burgerfi and one Anthony’s store.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef