Company: BRID
Filing Date: 2025-01-29
Form Type: 10-K
Source: 0001493152-25-004182
Chunk: 458

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-01-29
Form: 10-K
Item: Item 6
Chunk 458
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 unable to increase liquidity through mortgaging real estate or additional borrowing, or generate positive cash flow necessary to
fund operations, we may not be able to compete successfully, which could negatively impact our business, operations, and financial condition.
With the cash expected to be generated from the Company’s operations, we anticipate that we will maintain sufficient liquidity or
exercise a portion of the line of credit to operate our business for at least the next twelve months. We will continue to monitor the
impact of inflation and interest rate volatility on our liquidity and, if necessary, take action to preserve liquidity and ensure that
our business can operate during these uncertain times.

 14 

Cash flows (used in) provided by operating
activities: 

    November 1, 2024  (52 Weeks)   
    November 3, 2023  (53 Weeks)  

    Net (loss) income 
    $(3,381) 
    $3,474 
  
    Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities: 

    Depreciation and amortization 
     6,540  
     6,558 
  
    (Recoveries on) provision for losses on accounts receivable 
     (126) 
     147 
  
    Provision for (reduction in) promotional allowances 
     307  
     (679)
  
    Loss on sale of property, plant and equipment 
     146  
     161 
  
    Deferred income taxes, net 
     (720) 
     (631)
  
    Changes in assets and liabilities 
     (3,263) 
     (5,045)
  
    Net cash (used in) provided by operating activities 
    $(497) 
    $3,985 

For the fifty-two weeks ended November 1, 2024,
net cash used in operating activities was $497, a decrease of $4,482 in cash flows compared to the fifty-three weeks ended November 3,
2023. The decrease in net cash provided by operating activities primarily relates to a net loss of $3,381, an increase in refundable income
taxes of $1,240 and an increase of other non-current assets of $3,320, partially offset by a decrease in inventory of $7,235 due to selling
down inventory finished goods to adjust to lower consumer demand. During fiscal year 2024, we did