Subsequent Events |
12 Months Ended |
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Dec. 31, 2021 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | Subsequent Events The Company has evaluated subsequent events occurring through March 1, 2022, the date that these financial statements were originally available to be issued, and determined the following subsequent events occurred that would require disclosure in these financial statements.
Draw on Revolving Line of Credit
On January 26, 2022, the Company borrowed $15.0 million under the revolving line of credit established as part of its senior secured credit facility effective September 24, 2021. The applicable interest rate for the borrowings is 3.52% and final payoff is due on September 24, 2026.
Culture Kings Las Vegas Flagship Store Lease
On January 31, 2022, the Company entered into a lease agreement with Forum Shops, LLC to lease approximately 13,425 square feet of selling space located in the Forum Shops at Caesars Palace. The lease will have a commencement date in the first quarter of 2022 and will be material to the Company’s operations with a first year annual cash payment of approximately $1.7 million and subsequent annual cash payments that increase by 3.0% each year through the tenth anniversary of the lease commencement.
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- References No definition available.
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- Definition 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
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