Flanigans Enterprises Inc. Files Annual 10-K Report

TL;DR

Flanigan's Enterprises filed its 2024 10-K. All systems go.

AI Summary

Flanigans Enterprises Inc. filed its 10-K for the fiscal year ended September 28, 2024. The company, primarily operating in the restaurant sector, reported its financial performance and business operations. The filing provides details on its corporate structure, principal executive offices located at 5059 N.E. 18th Avenue, Fort Lauderdale, Florida, and its IRS number 59-0877638.

Why It Matters

This 10-K filing provides investors and stakeholders with a comprehensive overview of Flanigan's Enterprises' financial health and strategic direction for the fiscal year 2024.

Risk Assessment

Risk Level: low — The provided text is a standard 10-K filing header and does not contain specific financial performance data or forward-looking statements that would indicate a high-risk level.

Key Numbers

• 20240928 — Fiscal Year End (The reporting period for this 10-K filing.)
• 001-06836 — SEC File Number (Identifies the company's filings with the SEC.)
• 59-0877638 — IRS Number (The company's Employer Identification Number.)

Key Players & Entities

• FLANIGANS ENTERPRISES INC (company) — Registrant
• 5059 N.E. 18th AVENUE (location) — Principal Executive Offices
• FORT LAUDERDALE (location) — City of Principal Executive Offices
• FLORIDA (location) — State of Principal Executive Offices
• 33334 (location) — Zip Code of Principal Executive Offices
• 59-0877638 (identifier) — IRS Employer Identification Number
• 001-06836 (identifier) — SEC File Number
• 20240928 (date) — Fiscal Year End

FAQ

Key Financial Figures

• $0.10 — ange on which registered Common Stock, $0.10 par value BDL NYSE AMERICAN Securitie
• $25.57 — ock as reported on the NYSE AMERICAN of $25.57 per share). As of December 26, 2024 th

Filing Documents

• bdl-20240928.htm (10-K) — 1468KB
• ex19-1.htm (EX-19.1) — 40KB
• ex31-1.htm (EX-31.1) — 10KB
• ex31-2.htm (EX-31.2) — 10KB
• ex32-1.htm (EX-32.1) — 5KB
• ex32-2.htm (EX-32.2) — 5KB
• ex97-1.htm (EX-97.1) — 20KB
• 0001174947-24-001397.txt ( ) — 8471KB
• bdl-20240928_cal.xml (EX-101.CAL) — 71KB
• bdl-20240928_def.xml (EX-101.DEF) — 346KB
• bdl-20240928_lab.xml (EX-101.LAB) — 650KB
• bdl-20240928_pre.xml (EX-101.PRE) — 358KB
• bdl-20240928.xsd (EX-101.SCH) — 78KB
• bdl-20240928_htm.xml (XML) — 1182KB

Business

Business 1 Item 1A

Risk Factors

Risk Factors 11 Item 1B Unresolved Staff Comments 21 Item 1C Cybersecurity 21 Item 2

Properties

Properties 22 Item 3

Legal Proceedings

Legal Proceedings 30 Item 4 Mine Safety Disclosures 30 PART II Item 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 30 Item 6 Reserved 30 Item 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 30 Item 7A

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 37 Item 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 38 Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 38 Item 9A

Controls and Procedures

Controls and Procedures 38 Item 9B Other Information 39 Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 39 PART III Item 10 Directors, Executive Officers and Corporate Governance 39 Item 11

Executive Compensation

Executive Compensation 39 Item 12

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 39 Item 13 Certain Relationships and Related Transactions, and Director Independence 39 Item 14 Principal Accountant Fees and Services 39 PART IV Item 15 Exhibits and Financial Statement Schedules 40 Item 16 Form 10 – K Summary 43

SIGNATURES

SIGNATURES 43 EXHIBIT INDEX LIST XBRL DOCUMENTS As used in this Annual Report on Form 10-K, the terms "we," "us," "our," the "Company" and "Flanigan's" mean Flanigan's Enterprises, Inc. and its subsidiaries (unless the context indicates a different meaning). CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This annual report, including, without limitation, statements under the heading "Management's Discussion and Analysis of Financial Condition and Results of Operations," includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended ("Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended ("Exchange Act"). These forward-looking statements can be identified by the use of forward-looking terminology, including the words "believes," "estimates," "anticipates," "expects," "intends," "plans," "may," "will," "potential," "projects," "predicts," "continue," or "should," "could", "may", "might", "will" and "would" or, in each case, their negative or other variations or comparable terminology. There can be no assurance that actual results will not materially differ from expectations. Such statements include, but are not limited to, the general expansion of our business and other statements which are not statements of current or historical facts. The forward-looking statements contained in this annual report are based on our current expectations and beliefs concerning future developments and their potential effects on us. Future developments affecting us may not be those that we have anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond our control) and other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described under the heading "Risk Factor

BUSINESS

ITEM 1. BUSINESS General As of September 28, 2024, Flanigan's Enterprises, Inc., a Florida corporation, together with its subsidiaries ("we", "our", "ours" and "us" as the context requires), (i) operates 32 units, consisting of restaurants, package liquor stores, combination restaurant/package liquor stores and a sports bar that we either own or have operational control over and partial ownership in; and (ii) franchises an additional five units, consisting of two restaurants (one of which we operate) and three combination restaurant/package liquor stores. The table below provides information concerning the type (i.e. restaurant, sports bar, package liquor store or combination restaurant/package liquor store) and ownership of the units (i.e. whether (i) we own 100% of the unit; (ii) the unit is owned by a limited partnership of which we are the sole general partner and/or have invested in; or (iii) the unit is franchised by us), as of September 28, 2024 and as compared to September 30, 2023. With the exception of "The Whale's Rib," a restaurant we operate but do not own, and "Brendan's Sports Pub" a restaurant/bar we own, all of the restaurants operate under our service marks "Flanigan's Seafood Bar and Grill" or "Flanigan's" and all of the package liquor stores operate under our service marks "Big Daddy's Liquors" or "Big Daddy's Wine & Liquors". September 28, 2024 September 30, 2023 TYPES OF UNITS Company Owned: Combination package liquor store and restaurant 2 3 (1) Restaurant only, including sports bar 9 8 (1) Package liquor store only 9 8 (1) Company Managed Restaurants Only : Limited partnerships 10 10 Franchise 1 1 Unrelated Third Party 1 1 Total Company Owned/Operated Units 32 31 Franchised Units 5 5 (2) Notes: (1) During the first quarter of our fiscal year 2019, our combination package liquor store and restaurant located at 2505 N. University Drive, Hollywood, Florida (Store #19), was damaged by a fire

View Full Filing

View this 10-K filing on SEC EDGAR