v3.26.1
Leases (Tables)
 9 Months Ended
Mar. 29, 2026
Leases [Abstract]  
Schedule of Lease Assets and Liabilities
Lease assets and liabilities are as follows:
(in millions of U.S. Dollars)SuccessorPredecessor
Operating Leases:March 29, 2026June 29, 2025
Right-of-use asset (1)
$98.3 $123.1 
Current lease liability (2)
7.4 9.9 
Non-current lease liability (3)
100.5 139.5 
Total operating lease liabilities$107.9 $149.4 
Finance Leases:
Finance lease assets (4)
$2.1 $8.3 
Current portion of finance lease liabilities(5)
0.3 0.5 
Finance lease liabilities, less current portion(6)
1.8 8.4 
Total finance lease liabilities$2.1 $8.9 
(1) Within other assets on the consolidated balance sheets.
(2) Within other current liabilities on the consolidated balance sheets.
(3) Within other long-term liabilities on the consolidated balance sheets.
(4) Within property and equipment, net on the consolidated balance sheets.
(5) Within finance lease liabilities on the consolidated balance sheets.
(6) Within finance lease liabilities - long term on the consolidated balance sheets.
Schedule of Cash Flow Information
SuccessorPredecessor
(in millions of U.S. Dollars)Three months ended March 29, 2026Three months ended March 30, 2025
Operating lease expense
$5.1$4.3
Finance lease amortization
0.2 0.2 
SuccessorPredecessor
(in millions of U.S. Dollars)Period from September 30, 2025 to March 29, 2026Period from June 30, 2025 to September 29, 2025Nine months ended March 30, 2025
Operating lease expense
$10.04.3$12.4
Finance lease amortization
0.3 0.2 0.6 
Cash flow information consisted of the following (1):
SuccessorPredecessor
(in millions of U.S. Dollars)Period from September 30, 2025 to March 29, 2026Period from June 30, 2025 to September 29, 2025Nine months ended March 30, 2025
Cash (used in) provided by operating activities from continuing operations:
Cash paid for operating leases($10.8)($4.1)($4.0)
Cash paid for interest portion of financing leases(0.1)(0.1)(0.1)
Cash used in financing activities:
Cash paid for principal portion of finance leases(0.3)(0.1)(0.1)
(1) See Note 1, "Basis of Presentation and New Accounting Standards," for non-cash activities related to leases.
Remaining weighted average lease terms and discount rate operating and finance lease liabilities as of March 29, 2026 were as follows:
Successor
Operating LeasesFinance Leases
Weighted average remaining lease term (in months) (1)
145450
Weighted average discount rate (2)
11.76 %13.83 %
(1) Weighted average remaining lease term of finance leases without the 49-year ground lease is 8 months.
(2) Weighted average discount rate of finance leases without the 49-year ground lease is 7.43%.
Schedule of Maturities of Operating Lease Liabilities
Maturities of operating and finance lease liabilities as of March 29, 2026 were as follows:
(in millions of U.S. Dollars)Successor
Fiscal Year EndingOperating LeasesFinance LeasesTotal
June 28, 2026 (remainder of fiscal 2026)$5.6 $0.2 $5.8 
June 27, 202718.2 0.4 18.6 
June 25, 202817.8 0.2 18.0 
June 24, 202917.2 0.2 17.4 
June 30, 203016.0 0.2 16.2 
Thereafter130.7 13.7 144.4 
Total lease payments205.5 14.9 220.4 
Imputed lease interest(97.6)(12.8)(110.4)
Total lease liabilities$107.9 $2.1 $110.0 
Schedule of Maturities of Finance Lease Liabilities
Maturities of operating and finance lease liabilities as of March 29, 2026 were as follows:
(in millions of U.S. Dollars)Successor
Fiscal Year EndingOperating LeasesFinance LeasesTotal
June 28, 2026 (remainder of fiscal 2026)$5.6 $0.2 $5.8 
June 27, 202718.2 0.4 18.6 
June 25, 202817.8 0.2 18.0 
June 24, 202917.2 0.2 17.4 
June 30, 203016.0 0.2 16.2 
Thereafter130.7 13.7 144.4 
Total lease payments205.5 14.9 220.4 
Imputed lease interest(97.6)(12.8)(110.4)
Total lease liabilities$107.9 $2.1 $110.0