Annual report pursuant to Section 13 and 15(d)

DEBT (Revolving Credit Facility) (Narrative) (Details)

v3.20.4
DEBT (Revolving Credit Facility) (Narrative) (Details) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Aug. 30, 2019
May 27, 2016
Oct. 31, 2020
Jan. 30, 2021
Feb. 01, 2020
Feb. 02, 2019
Asset-based Revolving Credit Facility            
Borrowings on asset-based revolving credit facility       $ 600,000 $ 23,200 $ 355,400
Loss on early extinguishments of debt and refinancing costs     $ (22,000) (22,044) $ (1,316) $ (1,835)
Asset-Based Revolving Credit Facility [Member] | Michaels Stores [Member]            
Asset-based Revolving Credit Facility            
Maximum borrowing capacity   $ 850,000        
Percentage of eligible credit card receivables and debit card receivables to determine borrowing base   90.00%        
Percentage of eligible trade receivables to determine borrowing base   85.00%        
Current availability       624,100    
Unused borrowing capacity       536,800    
Outstanding letters of credit       $ 87,300    
Maximum borrowing capacity, optional additional commitments   $ 200,000        
Maximum borrowing capacity once expanded   $ 1,050,000        
Period of excess availability as a percentage of loan cap for repayment of outstanding loans   5 days        
Projected period used for testing of certain payment conditions   30 days        
Period of excess availability as a percentage of loan cap for maintaining specified consolidated fixed charge coverage ratio   30 days        
Loss on early extinguishments of debt and refinancing costs $ (200)          
Asset-Based Revolving Credit Facility [Member] | Michaels Stores [Member] | Minimum [Member]            
Asset-based Revolving Credit Facility            
Percentage of appraised net orderly liquidation value of eligible inventory to determine borrowing base   90.00%        
Percentage of appraised net orderly liquidation value of eligible inventory and eligible letters of credit to determine borrowing base   90.00%        
Excess availability as a percentage of loan cap for repayment of outstanding loans   10.00%        
Excess availability for repayment of outstanding loans   $ 50,000        
Excess availability as a percentage of loan cap for specified period for maintaining specified consolidated fixed charge coverage ratio   10.00%        
Excess availability for specified period for maintaining specified consolidated fixed charge coverage ratio   $ 50,000        
Consolidated fixed charge coverage ratio required to be maintained   1.00%        
Asset-Based Revolving Credit Facility [Member] | Michaels Stores [Member] | Maximum [Member]            
Asset-based Revolving Credit Facility            
Percentage of appraised net orderly liquidation value of eligible inventory to determine borrowing base   92.50%        
Percentage of appraised net orderly liquidation value of eligible inventory and eligible letters of credit to determine borrowing base   92.50%        
Excess availability as a percentage of loan cap for maintaining specified consolidated fixed charge coverage ratio   10.00%        
Excess availability for maintaining specified consolidated fixed charge coverage ratio   $ 50,000        
Asset-Based Revolving Credit Facility [Member] | Michaels Stores [Member] | Federal Funds [Member]            
Asset-based Revolving Credit Facility            
Margin basis spread on reference rate (as a percent)   0.50%        
Asset-Based Revolving Credit Facility [Member] | Michaels Stores [Member] | LIBOR - Floor Rate [Member]            
Asset-based Revolving Credit Facility            
Margin basis spread on reference rate (as a percent)   1.00%        
Asset-Based Revolving Credit Facility [Member] | Michaels Stores [Member] | LIBOR [Member]            
Asset-based Revolving Credit Facility            
Margin basis spread on reference rate (as a percent)   1.25%        
Asset-Based Revolving Credit Facility [Member] | Michaels Stores [Member] | Prime Rate [Member]            
Asset-based Revolving Credit Facility            
Margin basis spread on reference rate (as a percent)   0.25%        
Amended Revolving Credit Facility [Member]            
Asset-based Revolving Credit Facility            
Initial commitment fee on the unutilized commitments (as a percent) 0.25%          
Average daily excess availability as a percentage of total commitments for lower commitment fee on the unutilized commitments 0.20%          
Commitment fee on the unutilized commitments if average daily excess availability is less than or equal to the specified percentage 50.00%