Ark Restaurants (ARKR) 10-Q 23 Jun 20 2020 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Mar. 28, 2020	Jun. 18, 2020
Document and Entity Information [Abstract]
Entity Registrant Name	ARK RESTAURANTS CORP
Document Type	10-Q
Current Fiscal Year End Date	--10-03
Amendment Flag	false
Entity Central Index Key	0000779544
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Mar. 28, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Current Reporting Status	Yes
Entity Common Stock, Shares Outstanding		3,502,407

CONSOLIDATED CONDENSED BALANCE

CONSOLIDATED CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 28, 2020	Sep. 28, 2019
CURRENT ASSETS:
Cash and cash equivalents (includes $144 at March 28, 2020 and $170 at September 28, 2019 related to VIEs)	$ 7,330	$ 7,177
Accounts receivable (includes $187 at March 28, 2020 and $219 at September 28, 2019 related to VIEs)	1,426	2,621
Employee receivables	396	414
Inventories (includes $34 at March 28, 2020 and $41 at September 28, 2019 related to VIEs)	2,824	2,222
Prepaid and refundable income taxes (includes $254 at March 28, 2020 and September 28, 2019 related to VIEs)	254	254
Prepaid expenses and other current assets (includes $10 at March 28, 2020 and $12 at September 28, 2019 related to VIEs)	1,427	1,021
Total current assets	13,657	13,709
FIXED ASSETS - Net (includes $235 at March 28, 2020 and $236 at September 28, 2019 related to VIEs)	39,088	47,781
OPERATING LEASE RIGHT-OF-USE ASSETS - Net (includes $2,784 at March 28, 2020 related to VIEs)	57,550
INTANGIBLE ASSETS - Net	54	303
GOODWILL	15,570	15,570
TRADEMARKS	3,720	3,720
DEFERRED INCOME TAXES	4,113	4,106
INVESTMENT IN AND RECEIVABLE FROM NEW MEADOWLANDS RACETRACK	6,847	6,821
OTHER ASSETS (includes $82 at March 28, 2020 and September 28, 2019 related to VIEs)	2,558	2,642
TOTAL ASSETS	143,157	94,652
CURRENT LIABILITIES:
Accounts payable - trade (includes $27 at March 28, 2020 and $65 at September 28, 2019 related to VIEs)	4,414	3,549
Accrued expenses and other current liabilities (includes $456 at March 28, 2020 and $440 at September 28, 2019 related to VIEs)	9,575	10,672
Accrued income taxes	5	285
Dividend payable	876	875
Current portion of notes payable	2,701	2,701
Current portion of operating lease liabilities (includes $216 at March 28, 2020 related to VIEs)	6,109
Total current liabilities	23,680	18,082
OPERATING LEASE DEFERRED CREDIT (includes ($30) at September 28, 2019 related to VIEs)		10,077
NOTES PAYABLE, LESS CURRENT PORTION, net of deferred financing costs	25,456	23,786
OPERATING LEASE LIABILITIES, LESS CURRENT PORTION (includes $2,558 at March 28, 2020 related to VIEs)	53,191
TOTAL LIABILITIES	102,327	51,945
COMMITMENTS AND CONTINGENCIES
EQUITY:
Common stock, par value $.01 per share - authorized, 10,000 shares; issued and outstanding, 3,502 shares at March 28, 2020 and 3,499 shares at September 28, 2019	35	35
Additional paid-in capital	13,382	13,277
Retained earnings	26,536	28,552
Total Ark Restaurants Corp. shareholders’ equity	39,953	41,864
NON-CONTROLLING INTERESTS	877	843
TOTAL EQUITY	40,830	42,707
TOTAL LIABILITIES AND EQUITY	$ 143,157	$ 94,652

CONSOLIDATED CONDENSED BALANC_2

CONSOLIDATED CONDENSED BALANCE SHEETS (Parentheticals) - USD ($) $ in Thousands	Mar. 28, 2020	Sep. 28, 2019
Cash and cash equivalents	$ 7,330	$ 7,177
Accounts receivable	1,426	2,621
Inventories	2,824	2,222
Prepaid and refundable income taxes	254	254
Prepaid expenses and other current assets	1,427	1,021
Fixed Assets	39,088	47,781
Operating lease right-of-use asset	57,550
Other assets	2,558	2,642
Accounts payable - trade	4,414	3,549
Accrued expenses and other current liabilities	9,575	$ 10,672
Current portion of operating lease liabilities	6,109
Operating lease liabilities, less current portion	$ 53,191
Common stock, par value (in USD per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	10,000,000	10,000,000
Common stock, issued (in shares)	3,502,000	3,499,000
Common stock, outstanding (in shares)	3,502,000	3,499,000
Variable Interest Entity, Primary Beneficiary
Cash and cash equivalents	$ 144	$ 170
Accounts receivable	187	219
Inventories	34	41
Prepaid and refundable income taxes	254	254
Prepaid expenses and other current assets	10	12
Fixed Assets	235	236
Operating lease right-of-use asset	2,784
Other assets	82	82
Accounts payable - trade	27	65
Accrued expenses and other current liabilities	456	440
Current portion of operating lease liabilities	216
Operating lease deferred credit		$ (30)
Operating lease liabilities, less current portion	$ 2,558

CONSOLIDATED CONDENSED STATEMEN

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 28, 2020	Mar. 29, 2019	Mar. 28, 2020	Mar. 29, 2019
REVENUES:
Total revenues	$ 34,002	$ 35,311	$ 77,516	$ 75,859
COSTS AND EXPENSES:
Payroll expenses	13,103	12,979	28,224	27,084
Other operating costs and expenses	5,654	5,236	10,982	10,211
General and administrative expenses	2,397	2,193	5,451	5,601
Loss of termination of lease	364	0	364	0
Loss on closure of Durgin-Park	0	39	0	1,106
Depreciation and amortization	1,012	1,187	2,208	2,393
Total costs and expenses	35,938	35,233	77,016	75,475
OPERATING INCOME (LOSS)	(1,936)	78	500	384
INTEREST (INCOME) EXPENSE:
Interest expense	303	346	762	658
Interest income	(61)	(15)	(74)	(29)
Total interest expense, net	242	331	688	629
LOSS BEFORE PROVISION (BENEFIT) FOR INCOME TAXES	(2,178)	(253)	(188)	(245)
Provision (benefit) for income taxes	(414)	423	(95)	446
CONSOLIDATED NET LOSS	(1,764)	(676)	(93)	(691)
Net (income) loss attributable to non-controlling interests	(14)	7	(172)	(40)
NET LOSS ATTRIBUTABLE TO ARK RESTAURANTS CORP.	$ (1,778)	$ (669)	$ (265)	$ (731)
NET LOSS PER ARK RESTAURANTS CORP. COMMON SHARE:
Basic (in USD per share)	$ (0.51)	$ (0.19)	$ (0.08)	$ (0.21)
Diluted (in USD per share)	$ (0.51)	$ (0.19)	$ (0.08)	$ (0.21)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:
Basic (in shares)	3,500	3,475	3,499	3,475
Diluted (in shares)	3,500	3,475	3,499	3,475
Food and beverage sales
REVENUES:
Total revenues	$ 33,114	$ 34,485	$ 75,943	$ 74,323
COSTS AND EXPENSES:
Cost of goods and services sold	9,578	9,791	20,518	20,268
Other revenue
REVENUES:
Total revenues	888	826	1,573	1,536
Occupancy expenses
COSTS AND EXPENSES:
Cost of goods and services sold	$ 3,830	$ 3,808	$ 9,269	$ 8,812

CONSOLIDATED CONDENSED STATEM_2

CONSOLIDATED CONDENSED STATEMENTS OF CHANGES IN EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Total Ark Restaurants Corp. Shareholders’ Equity	Non- controlling Interests
BALANCE (in shares) at Sep. 29, 2018		3,470,000
BALANCE at Sep. 29, 2018	$ 43,736	$ 35	$ 12,897	$ 29,364	$ 42,296	$ 1,440
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(691)			(731)	(731)	40
Exercise of stock options (in shares)		7,000
Exercise of stock options	94		94		94
Stock-based compensation	24		24		24
Distributions to non-controlling interests	(180)					(180)
Dividends paid and accrued	(1,738)			(1,738)	(1,738)
BALANCE (in shares) at Mar. 29, 2019		3,477,000
BALANCE at Mar. 29, 2019	41,245	$ 35	13,015	26,895	39,945	1,300
BALANCE (in shares) at Dec. 29, 2018		3,477,000
BALANCE at Dec. 29, 2018	42,862	$ 35	13,003	28,434	41,472	1,390
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(676)			(669)	(669)	(7)
Stock-based compensation	12		12		12
Distributions to non-controlling interests	(83)					(83)
Dividends paid and accrued	(870)			(870)	(870)
BALANCE (in shares) at Mar. 29, 2019		3,477,000
BALANCE at Mar. 29, 2019	41,245	$ 35	13,015	26,895	39,945	1,300
BALANCE (in shares) at Sep. 28, 2019		3,499,000
BALANCE at Sep. 28, 2019	42,707	$ 35	13,277	28,552	41,864	843
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	$ (93)			(265)	(265)	172
Exercise of stock options (in shares)	3,500	3,000
Exercise of stock options	$ 50		50		50
Stock-based compensation	55		55		55
Distributions to non-controlling interests	(138)					(138)
Dividends paid and accrued	(1,751)			(1,751)	(1,751)
BALANCE (in shares) at Mar. 28, 2020		3,502,000
BALANCE at Mar. 28, 2020	40,830	$ 35	13,382	26,536	39,953	877
BALANCE (in shares) at Dec. 28, 2019		3,499,000
BALANCE at Dec. 28, 2019	43,443	$ 35	13,289	29,190	42,514	929
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(1,764)			(1,778)	(1,778)	14
Exercise of stock options (in shares)		3,000
Exercise of stock options	50		50		50
Stock-based compensation	43		43		43
Distributions to non-controlling interests	(66)					(66)
Dividends paid and accrued	(876)			(876)	(876)
BALANCE (in shares) at Mar. 28, 2020		3,502,000
BALANCE at Mar. 28, 2020	$ 40,830	$ 35	$ 13,382	$ 26,536	$ 39,953	$ 877

CONSOLIDATED CONDENSED STATEM_3

CONSOLIDATED CONDENSED STATEMENTS OF CHANGES IN EQUITY (Unaudited) (Parentheticals) - $ / shares	3 Months Ended	6 Months Ended
	Mar. 29, 2019	Mar. 28, 2020	Mar. 29, 2019
Statement of Stockholders' Equity [Abstract]
Dividends paid and accrued (in USD per share)		$ 0.5
Dividends paid (in USD per share)	$ 0.25		$ 0.5

CONSOLIDATED CONDENSED STATEM_4

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Mar. 28, 2020	Mar. 29, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Consolidated net loss	$ (93)	$ (691)
Adjustments to reconcile consolidated net loss to net cash provided by operating activities:
Stock-based compensation	55	24
Loss of termination of lease	364	0
Asset impairment on closure of Durgin-Park	0	1,067
Deferred income taxes	(7)	90
Accrued interest on note receivable from NMR	(26)	(29)
Depreciation and amortization	2,208	2,393
Amortization of operating lease assets	186	0
Amortization of deferred financing costs	20	16
Operating lease deferred credit	(197)	(267)
Changes in operating assets and liabilities:
Accounts receivable	1,195	320
Inventories	(602)	46
Prepaid, refundable and accrued income taxes	(280)	545
Prepaid expenses and other current assets	(406)	90
Other assets	(15)	(211)
Accounts payable - trade	865	(529)
Accrued expenses and other current liabilities	(1,157)	(862)
Net cash provided by operating activities	2,110	2,002
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of fixed assets	(1,787)	(1,469)
Loans and advances made to employees	(75)	(136)
Payments received on employee receivables	93	93
Net cash used in investing activities	(1,769)	(1,512)
CASH FLOWS FROM FINANCING ACTIVITIES:
Principal payments on notes payable	(1,350)	(621)
Borrowings under credit facility	3,000	650
Dividends paid	(1,750)	(2,606)
Proceeds from issuance of stock upon exercise of stock options	50	94
Distributions to non-controlling interests	(138)	(180)
Net cash used in financing activities	(188)	(2,663)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	153	(2,173)
CASH AND CASH EQUIVALENTS, Beginning of period	7,177	5,012
CASH AND CASH EQUIVALENTS, End of period	7,330	2,839
Cash paid during the period for:
Interest	714	599
Income taxes	192	118
Non-cash financing activities:
Accrued dividend	$ 876	$ 0

BASIS OF PRESENTATION AND CRITI

BASIS OF PRESENTATION AND CRITICAL ACCOUNTING POLICIES	6 Months Ended
	Mar. 28, 2020
Accounting Policies [Abstract]
Basis of Presentation and Critical Accounting Policies	BASIS OF PRESENTATION AND CRITICAL ACCOUNTING POLICIES The consolidated condensed balance sheet as of September 28, 2019 , which has been derived from audited consolidated financial statements included in the Company’s annual report on Form 10-K for the year ended September 28, 2019 (“Form 10-K”), and the unaudited interim consolidated condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted. All adjustments that, in the opinion of management are necessary for a fair presentation for the periods presented, have been reflected as required by Article 10 of Regulation S-X. Such adjustments are of a normal, recurring nature. These consolidated condensed financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Form 10-K. COVID-19 PANDEMIC — On March 11, 2020, in light of the rapid spread of the novel Coronavirus (“COVID-19” or "Coronavirus"), the World Health Organization declared the COVID-19 outbreak to be a global pandemic and the United States declared a National Public Health Emergency. The COVID-19 pandemic has significantly impacted health and economic conditions throughout the United States. Federal, state and local governments took a variety of actions to contain the spread of COVID-19 and the Company was required to temporarily close its restaurants during March 2020, with all locations closed as of March 28, 2020, until the related governmental authorities allow us to reopen them. The Coronavirus has caused unprecedented business disruptions, especially in the hospitality industry, and the Company fully supports all governmental actions to help stem the effects of the Coronavirus. While neither the length of time of the closures nor the extent of the impact of the Coronavirus on our results of operations and financial condition may be known for quite some time, we do expect that there will be a material adverse effect. As a result of these developments, the Company is experiencing a significant negative impact on its revenues, results of operations and cash flows, which could negatively impact its ability to meet its obligations over the next twelve months. As of March 28, 2020, the Company had a working capital deficit of ( $10,023,000 ). However, we believe that our existing cash balances, current credit facilities and the actions taken that are listed below will be sufficient to meet our liquidity and capital spending requirements through June 24, 2021. In response to the business disruption and liquidity concerns caused by the COVID-19 pandemic, the Company has taken the following actions, which management expects will enable it to meet its obligations over the next twelve months: • Furloughed all hourly employees and approximately 95% of restaurant management personnel, while enacting temporary salary reductions for all remaining restaurant management personnel. In addition, the Company temporarily reduced the pay of all corporate and administrative staff by 50% to 75% , temporarily reduced senior management salaries by 75% to 95% , and temporarily suspended all board fees. • Subsequent to the second quarter of 2020, the Company entered into a Payment Suspension Agreement with its bank which deferred all monthly interest payments through June 1, 2020 and deferred aggregate principal payments of $675,000 due on June 1, 2020 to the respective loan maturity dates. In addition, our bank agreed to relaxed financial covenants through fiscal Q3 2021 (see Note 7 – Notes Payable - Bank). • Indefinitely deferred the payment of the $0.25 dividend declared on March 2, 2020. • Suspended future dividend payments until such time as the Board deems appropriate to reinstate. • Canceled or delayed all non-essential capital expenditures. • Suspended the vast majority of lease payments for the months of April, May and June 2020 and is currently in negotiations for rent concessions, abatements and deferrals with its landlords to reduce these lease payments. While some landlords have agreed to certain concessions subsequent to quarter end, there can be no assurance that the Company will be successful in obtaining all of the relief it is seeking. • Certain Company subsidiaries applied for and received approximately $14.9 million of loans under the Paycheck Protection Program of the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”), which was enacted March 27, 2020 (see Note 14 – Subsequent Events). • Utilized additional provisions of the CARES Act to obtain tax savings as well as the deferral of our portion of social security taxes to future years. The full impact of the COVID-19 outbreak continues to evolve as of the date of this report. Management is continually evaluating the impact of the global crisis on its financial condition, liquidity, operations, suppliers, industry, and workforce and will take additional actions as necessary. The disruption in operations has led the Company to consider the impact of the COVID-19 pandemic on its liquidity, debt covenant compliance, and recoverability of long-lived and ROU assets, goodwill and intangible assets, among others. If these disruptions continue, the Company expects a continued material negative impact on its consolidated financial condition, future results of operations and liquidity. The extent of such negative impact will be determined, in part, by the longevity and severity of the pandemic. Due to the rapid development and fluidity of this situation, the Company cannot determine the ultimate impact that the COVID-19 pandemic will have on the Company’s consolidated financial condition, liquidity, and future results of operations, and therefore any prediction as to the ultimate material adverse impact on the Company’s consolidated financial condition, liquidity, and future results of operations is uncertain. We cannot predict how soon we will be able to reopen all of our restaurants at full capacity, and our ability to reopen will depend in part on the actions of a number of governmental bodies over which we have no control. Moreover, once restrictions are lifted, it is unclear how quickly customers will return to our restaurants, which may be a function of continued concerns over safety and/or depressed consumer sentiment due to adverse economic conditions, including job losses. PRINCIPLES OF CONSOLIDATION — The consolidated condensed financial statements include the accounts of Ark Restaurants Corp. and all of its wholly-owned subsidiaries, partnerships and other entities in which it has a controlling interest, collectively herein referred to as the “Company”. Also included in the consolidated condensed financial statements are certain variable interest entities (“VIEs”). All significant intercompany balances and transactions have been eliminated in consolidation. USE OF ESTIMATES — The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities, at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The accounting estimates that require management’s most difficult and subjective judgments include projected cash flow, allowances for potential bad debts on receivables, assumptions regarding discount rates related to lease accounting, the useful lives and recoverability of its assets, such as property and intangibles, fair values of financial instruments and share-based compensation, the realizable value of its tax assets and determining when investment impairments are other-than-temporary. Because of the uncertainty in such estimates, actual results may differ from these estimates. The results of operations for the 13 and 26 weeks ended March 28, 2020 are not necessarily indicative of the results to be expected for any other interim period or for the year ending October 3, 2020 . RECLASSIFICATIONS — Certain reclassifications of prior period amounts have been made to conform to the current period presentation. The Company eliminated the presentation of restaurant operating income (loss) as a non-GAAP measure from its consolidated condensed statements of operations. SEASONALITY — The Company has substantial fixed costs that do not decline proportionally with sales. The first and second fiscal quarters, which include the winter months, usually reflect lower customer traffic than in the third and fourth fiscal quarters. However, sales in the third and fourth fiscal quarters can be adversely affected by inclement weather due to the significant amount of outdoor seating at the Company’s restaurants. FAIR VALUE OF FINANCIAL INSTRUMENTS — The carrying amount of cash and cash equivalents, receivables, accounts payable and accrued expenses approximate fair value due to the immediate or short-term maturity of these financial instruments. The fair values of notes receivable and payable are determined using current applicable rates for similar instruments as of the balance sheet dates and approximate the carrying value of such debt instruments. CASH AND CASH EQUIVALENTS — Cash and cash equivalents include cash on hand, deposits with banks and highly liquid investments generally with original maturities of three months or less. Outstanding checks in excess of account balances, typically vendor payments, payroll and other contractual obligations disbursed after the last day of a reporting period are reported as a current liability in the accompanying consolidated condensed balance sheets. CONCENTRATIONS OF CREDIT RISK — Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. The Company reduces credit risk by placing its cash and cash equivalents with major financial institutions with high credit ratings. At times, such amounts may exceed Federally insured limits. Accounts receivable are primarily comprised of normal business receivables, such as credit card receivables, that are collected in a short period of time and amounts due from the hotel operators where the Company has a location, and are recorded upon satisfaction of the performance obligation. The Company reviews the collectability of its receivables on an ongoing basis, and provides for an allowance when it considers the entity unable to meet its obligation. The concentration of credit risk with respect to accounts receivable is generally limited due to the short payment terms extended by the Company and the number of customers comprising the Company’s customer base. As of March 28, 2020 , the Company had accounts receivable balances due from three hotel operators totaling 88% of total accounts receivable. As of September 28, 2019 , the Company had accounts receivable balances due from one hotel operator totaling 34% of total accounts receivable. For the 13-week period ended March 28, 2020 , the Company made purchases from two vendors that accounted for 20% of total purchases. For the 13-week period ended March 30, 2019 , the Company did no t make purchases from any one vendor that accounted for 10% or greater of total purchases. For the 26-week periods ended March 28, 2020 and March 30, 2019 , the Company did no t make purchases from any one vendor that accounted for 10% or greater of total purchases for the respective period. As of March 28, 2020 and December 28, 2019 , all debt outstanding is with one lender (see Note 7 – Notes Payable – Bank). GOODWILL AND TRADEMARKS - Goodwill and trademarks are not amortized, but are subject to impairment analysis. We assess the potential impairment of goodwill and trademarks annually (at the end of our fourth quarter) and on an interim basis whenever events or changes in circumstances indicate that the carrying value may not be recoverable. If we determine through the impairment review process that goodwill or trademarks are impaired, we record an impairment charge in our consolidated condensed statements of operations. Due to the recent impact of the COVID-19 pandemic to the global economy, including but not limited to, the volatility of the Company's stock price, temporary closure of the Company's restaurants and the challenging environment for the restaurant industry in general, the Company determined that there were indicators of potential impairment of its goodwill and trademarks during the 13 weeks ended March 28, 2020. As such, the Company performed a qualitative assessment for both goodwill and its trademarks and concluded that the fair value of these assets exceeded their carrying values. Accordingly, the Company did not record any impairment to its goodwill or trademarks during the 13 and 26 weeks ended March 28, 2020. The ultimate severity and longevity of the COVID-19 pandemic is unknown, and therefore, it is possible that impairments could be identified in future periods, and such amounts could be material. LONG-LIVED AND RIGHT-OF-USE ASSETS - Long-lived assets, such as property, plant and equipment, purchased intangibles subject to amortization, and right-of-use assets ("ROU assets") are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. In the evaluation of the fair value and future benefits of long-lived assets, the Company performs an analysis of the anticipated undiscounted future net cash flows of the related long-lived assets. If the carrying value of the related asset exceeds the undiscounted cash flows, the carrying value is reduced to its fair value. Various factors including estimated future sales growth and estimated profit margins are included in this analysis. The Company considers a triggering event related to long-lived assets or ROU assets in a net asset position to have occurred related to a specific restaurant if the restaurant’s cash flows for the last twelve months are less than a minimum threshold or if consistent levels of undiscounted cash flows for the remaining lease period are less than the carrying value of the restaurant’s assets. Additionally, the Company considers a triggering event related to ROU assets to have occurred related to a specific lease if the location has been subleased and future estimated sublease income is less than current lease payments. If the Company concludes that the carrying value of certain long-lived and ROU assets will not be recovered based on expected undiscounted future cash flows, an impairment loss is recorded to reduce the long-lived or ROU assets to their estimated fair value. The fair value is measured on a nonrecurring basis using unobservable (Level 3) inputs. There is uncertainty in the projected undiscounted future cash flows used in the Company's impairment review analysis, which requires the use of estimates and assumptions. If actual performance does not achieve the projections, or if the assumptions used change in the future, the Company may be required to recognize impairment charges in future periods, and such charges could be material. Based on the results of this analysis, the Company recognized an impairment charge of $364,000 related to long-lived assets and ROU assets during the 13 and 26 weeks ended March 28, 2020 (see Note 4 – Recent Restaurant Dispositions). Given the inherent uncertainty in projecting results of restaurants under the current circumstances, particularly taking into account the projected impact of the COVID-19 pandemic, the Company is monitoring the recoverability of the carrying value of the assets of several restaurants on an ongoing basis. For these restaurants, if expected performance is not realized, an impairment charge may be recognized in future periods, and such charge could be material. REVENUE RECOGNITION — We recognize revenues when it satisfies a performance obligation by transferring control over a product or service to a restaurant guest or other customer. Revenues from restaurant operations are presented net of discounts, coupons, employee meals and complimentary meals and recognized when food, beverage and retail products are sold. Sales tax collected from customers is excluded from sales and the obligation is included in sales tax payable until the taxes are remitted to the appropriate taxing authorities. Catering service revenue is generated through contracts with customers whereby the customer agrees to pay a contract rate for the service. Revenues from catered events are recognized in income upon satisfaction of the performance obligation (the date the event is held) and all customer payments, including nonrefundable upfront deposits, are deferred as a contract liability until such time. We recognized $1,552,000 and $1,652,000 in catering services revenue for the 13-week periods ended March 28, 2020 and March 30, 2019 , respectively, and $7,234,000 and $7,482,000 for the 26-week periods ended March 28, 2020 and March 30, 2019, respectively. Unearned revenue, which is included in accrued expenses and other current liabilities on the consolidated condensed balance sheets as of March 28, 2020 and September 28, 2019 , was $3,923,000 and $4,549,000 , respectively. LEASES — We determine if an arrangement contains a lease at inception. An arrangement contains a lease if it implicitly or explicitly identifies an asset to be used and conveys the right to control the use of the identified asset in exchange for consideration. As a lessee, we include operating leases in Operating lease right-of-use assets and Operating lease liabilities in our consolidated condensed balance sheet. Right-of-use assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease right-of-use assets and liabilities are recognized upon commencement of the lease based on the present value of the lease payments over the lease term. As most of our leases do not provide an implicit interest rate, we use our incremental borrowing rate based on the information available at commencement date to determine the present value of lease payments. Our lease terms may include options to extend or terminate the lease. Options are included when it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Leases with a lease term of 12 months or less are accounted for using the practical expedient which allows for straight-line rent expense over the remaining term of the lease. SEGMENT REPORTING — As of March 28, 2020 , the Company owned and operated 20 restaurants and bars, 17 fast food concepts and catering operations, exclusively in the United States, that have similar economic characteristics, nature of products and services, class of customers and distribution methods. The Company believes it meets the criteria for aggregating its operating segments into a single reporting segment in accordance with applicable accounting guidance. RECENTLY ADOPTED ACCOUNTING PRINCIPLES — In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which amends the existing accounting standards for lease accounting, including requiring lessees to recognize assets and liabilities for leases with lease terms of more than twelve months. The new guidance also requires additional disclosures about leases. The Company adopted the new standard on September 29, 2019 (the first day of fiscal year 2020) using the modified retrospective approach, without restating comparative periods for those lease contracts for which we have taken possession of the property as of September 28, 2019. Accordingly, prior period amounts were not revised and continue to be reported in accordance with ASC Topic 840 (“ASC 840”), the accounting standard then in effect. As part of our adoption we elected the "package of practical expedients", as well as the hindsight practical expedient, permitted under the new guidance, which, among other things, allowed the Company to continue utilizing historical classifications of leases as well as allowing us to combine lease and non-lease components of our real estate leases. We also elected to adopt the short-term lease exception for all leases with terms of twelve months or less and account for them using straight-line rent expense over the remaining life of the lease. As a result of the adoption of this guidance, we recorded ROU assets of $62,330,000 and lease liabilities related to our real estate operating leases of $63,943,000 . The adoption of this standard did not materially impact retained earnings or our consolidated condensed statement of operations and had no impact on cash flows. In June 2018, the FASB issued ASU 2018-07, Compensation - Stock Compensation (Topic 718): Improvements to Non-employee Share-Based Payment Accounting, which simplifies the accounting for share-based payments granted to non-employees for goods and services. Under this ASU, the guidance on share-based payments to non-employees would be aligned with the requirements for share-based payments granted to employees, with certain exceptions. The Company adopted this guidance in the first quarter of fiscal 2020. Such adoption did not have a material impact on our consolidated condensed financial statements. NEW ACCOUNTING STANDARDS NOT YET ADOPTED — In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which modifies Topic 740 to simplify the accounting for income taxes. ASU 2019-12 is effective for financial statements issued for annual periods beginning after December 15, 2020, and for the interim periods therein. The Company is currently evaluating the effect of adopting ASU 2019-12 to determine the impact on the Company’s consolidated financial position and results of operations.

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	6 Months Ended
	Mar. 28, 2020
Variable Interest Entities [Abstract]
Variable Interest Entities	VARIABLE INTEREST ENTITIES The Company consolidates any variable interest entities in which it holds a variable interest and is the primary beneficiary. Generally, a variable interest entity, or VIE, is an entity with one or more of the following characteristics: (a) the total equity investment at risk is not sufficient to permit the entity to finance its activities without additional subordinated financial support; (b) as a group the holders of the equity investment at risk lack (i) the ability to make decisions about an entity’s activities through voting or similar rights, (ii) the obligation to absorb the expected losses of the entity, or (iii) the right to receive the expected residual returns of the entity; or (c) the equity investors have voting rights that are not proportional to their economic interests and substantially all of the entity’s activities either involve, or are conducted on behalf of, an investor that has disproportionately few voting rights. The primary beneficiary of a VIE is generally the entity that has (a) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance, and (b) the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. The Company has determined that it is the primary beneficiary of three VIEs and, accordingly, consolidates the financial results of these entities. Following are the required disclosures associated with the Company’s consolidated VIEs: March 28, September 28, (in thousands) Cash and cash equivalents $ 144 $ 170 Accounts receivable 187 219 Inventories 34 41 Prepaid and refundable income taxes 254 254 Prepaid expenses and other current assets 10 12 Due from Ark Restaurants Corp. and affiliates (1) 295 392 Fixed assets - net 235 236 Operating lease right-of-use assets - net 2,784 — Other assets 82 82 Total assets $ 4,025 $ 1,406 Accounts payable - trade $ 27 $ 65 Accrued expenses and other current liabilities 456 440 Current portion of operating lease liabilities 216 — Operating lease deferred credit — (30 ) Operating lease liabilities, less current portion 2,558 — Total liabilities 3,257 475 Equity of variable interest entities 768 931 Total liabilities and equity $ 4,025 $ 1,406 (1) Amounts Due from and to Ark Restaurants Corp. and affiliates are eliminated upon consolidation. The liabilities recognized as a result of consolidating these VIEs do not represent additional claims on the Company’s general assets; rather, they represent claims against the specific assets of the consolidated VIEs. Conversely, assets recognized as a result of consolidating these VIEs do not represent additional assets that could be used to satisfy claims against the Company’s general assets.

RECENT RESTAURANT EXPANSION AND

RECENT RESTAURANT EXPANSION AND OTHER DEVELOPMENTS	6 Months Ended
	Mar. 28, 2020
Business Combinations [Abstract]
Recent Restaurant Expansion and Other Developments	RECENT RESTAURANT EXPANSION AND OTHER DEVELOPMENTS On May 15, 2019, the Company, through a newly formed, wholly-owned subsidiary, acquired the assets of JB's on the Beach , a restaurant and bar located in Deerfield Beach, Florida, for $7,036,000 as set out below. The acquisition is accounted for as a business combination and was financed with a bank loan from the Company’s existing lender in the amount of $7,000,000 and cash from operations. The fair values of the assets acquired, none of which are amortizable, were allocated as follows (amounts in thousands): Cash $ 11 Inventory 80 Furniture, fixtures and equipment 200 Trademarks 1,110 Goodwill 5,690 Liabilities assumed (55 ) $ 7,036 Goodwill recognized in connection with this transaction represents the residual amount of the purchase price over separately identifiable intangible assets and is expected to be deductible for tax purposes. Concurrent with the acquisition, the Company entered into a 20 year lease (with a five year extension option) for the restaurant facility and parking lot with the former owner of JB's on the Beach , who is also the owner of the underlying real estate. Payments under the lease are $600,000 per year with 10% increases every five years . The consolidated condensed statements of operations for the 13 and 26 weeks ended March 28, 2020 include revenues and income of approximately $3,058,000 and $5,480,000 and $580,000 and $622,000 , respectively, related to JB's on the Beach . The unaudited pro forma financial information set forth below is based upon the Company’s historical consolidated condensed statements of income for the 13 and 26 weeks ended March 30, 2019 and includes the results of operations for JB's on the Beach for the period prior to acquisition. The unaudited pro forma financial information (which is presented in thousands except per share and share data), which has been adjusted for payments under the lease discussed above as well as interest expense of the term loan, is presented for informational purposes only and may not be indicative of what actual results of operations would have been had the acquisition of JB's on the Beach occurred on the dates indicated, nor does it purport to represent the results of operations for future periods. 13 Weeks Ended 26 Weeks Ended March 30, March 30, (unaudited) (unaudited) Total revenues $ 38,877 $ 82,021 Net income $ (235 ) $ (210 ) Net income per share - basic $ (0.07 ) $ (0.06 ) Net income per share - diluted $ (0.07 ) $ (0.06 ) Basic 3,475 3,475 Diluted 3,475 3,475 During 2019, the Company was advised by the landlord of our food court at the Hard Rock Casino and Hotel in Hollywood, Florida, that they were exercising their right to relocate our space, at their sole cost, as contractually agreed to in the original lease. The new facilities were completed on September 16, 2019, on which date we closed our existing location and opened the new facilities. The Company recorded the value of the renovations made by the landlord, which includes leasehold improvements and furniture, fixtures and equipment, in the amount of $5,474,000 with a corresponding increase in deferred rent. The net book value of the existing leasehold improvements relating to the original location in the amount of $918,000 is being reflected as a reduction of deferred rent on a straight-line basis over the remaining lease term. During 2019, the Company was advised by the landlord of our food court at the Hard Rock Casino and Hotel in Tampa, Florida, that they were exercising their right to renovate the front of the house space, at their sole cost, as contractually agreed to in the original lease. In connection with this renovation we closed our existing facilities on June 2, 2019 and re-opened the renovated facilities on September 28, 2019. The Company recorded the value of the renovations made by the landlord, which includes leasehold improvements and furniture, fixtures and equipment, in the amount of $3,179,000 with a corresponding increase in deferred rent. The net book value of the existing leasehold improvements relating to the original location in the amount of $459,000 is being reflected as a reduction of deferred rent on a straight-line basis over the remaining lease term. On September 29, 2019, upon adoption of ASC 842, the unamortized Hollywood and Tampa balances of leasehold improvements and deferred rent in the amounts of $8,269,000 and $7,198,000 , respectively, were reclassified as ROU assets in the net amount of $1,071,000 and are being amortized to lease expense on a straight line basis over the remaining terms of the respective leases. The Company is in the process of developing three restaurants in Eastern, OH in partnership with the landlord of the facility. Included in fixed assets are costs of approximately $500,000 in connection with the project. The Company expects the properties to open in fiscal 2021 and 2022.

RECENT RESTAURANT DISPOSITIONS

RECENT RESTAURANT DISPOSITIONS	6 Months Ended
	Mar. 28, 2020
Recent Restaurant Dispositions [Abstract]
Recent Restaurant Dispositions	RECENT RESTAURANT DISPOSITIONS As of December 29, 2018, the Company determined that it would not be able to operate Durgin-Park profitably due to decreased traffic at the Faneuil Hall Marketplace in Boston, MA, where it is located, and rising labor costs. As a result, included in the Statements of Operations for the 13 and 26 weeks ended March 30, 2019 are losses on closure in the amounts of $39,000 and $1,106,000 , respectively, consisting of: (i) impairment of trademarks in the amount of $721,000 , (ii) accelerated depreciation of fixed assets in the amount of $333,000 , and (iii) write-offs of prepaid and other expenses in the amount of $52,000 . The restaurant closed on January 12, 2019. On April 2, 2020, the Company advised the landlord of a catering space in New York, NY that we would be terminating the lease. In connection with this notification, the Company recorded a loss of $364,000 at March 28, 2020, consisting of (i) rent accrued in accordance with the termination provisions of the lease, (ii) the write-off of the unamortized balance of purchased leasehold rights, (iii) the write-off of our security deposit, (iv) the write-off of ROU assets and related lease liabilities, and (v) the write-off of net book value of fixed assets.

INVESTMENT IN AND RECEIVABLE FR

INVESTMENT IN AND RECEIVABLE FROM NEW MEADOWLANDS RACETRACK	6 Months Ended
	Mar. 28, 2020
ASU 2016-01 Transition [Abstract]
Investment in and Receivable from New Meadowlands Racetrack	INVESTMENT IN AND RECEIVABLE FROM NEW MEADOWLANDS RACETRACK On March 12, 2013, the Company made a $4,200,000 investment in the New Meadowlands Racetrack LLC (“NMR”) through its purchase of a membership interest in Meadowlands Newmark, LLC, an existing member of NMR with a then 63.7% ownership interest. On November 19, 2013, the Company invested an additional $464,000 in NMR through a purchase of an additional membership interest in Meadowlands Newmark, LLC resulting in a total ownership of 11.6% of Meadowlands Newmark, LLC, and an effective ownership interest in NMR of 7.4% , subject to dilution. In 2015, the Company invested an additional $222,000 in NMR and on February 7, 2017, the Company invested an additional $222,000 in NMR, both as a result of capital calls, bringing its total investment to $5,108,000 with no change in ownership. As of September 29, 2018 , this investment was accounted for based on the cost method. As of September 30, 2018, the Company elected to account for this investment at cost, less impairment, adjusted for subsequent observable price changes in accordance with ASU No. 2016-01. Such change did not affect the value of our investment in NMR. There are no observable prices for this investment. Due to the recent impact of the COVID-19 pandemic to the global economy, including but not limited to, the temporary closure of the NMR facility, the Company evaluated its investment in NMR for impairment and concluded that its fair value exceeds the carrying value. Accordingly, the Company did not record any impairment during the 13 weeks ended March 28, 2020. The ultimate severity and longevity of the COVID-19 pandemic is unknown, and therefore, it is possible that impairments could be identified in future periods, and such amounts could be material. Any future changes in the carrying value of our Investment in NMR will be reflected in earnings. In addition to the Company’s ownership interest in NMR through Meadowlands Newmark, LLC, if casino gaming is approved at the Meadowlands and NMR is granted the right to conduct said gaming, neither of which can be assured, the Company shall be granted the exclusive right to operate the food and beverage concessions in the gaming facility with the exception of one restaurant. In conjunction with this investment, the Company, through a 97% owned subsidiary, Ark Meadowlands LLC (“AM VIE”), also entered into a long-term agreement with NMR for the exclusive right to operate food and beverage concessions serving the new raceway facilities (the “Racing F&B Concessions”) located in the new raceway grandstand constructed at the Meadowlands Racetrack in northern New Jersey. Under the agreement, NMR is responsible to pay for the costs and expenses incurred in the operation of the Racing F&B Concessions, and all revenues and profits thereof inure to the benefit of NMR. AM VIE receives an annual fee equal to 5% of the net profits received by NMR from the Racing F&B Concessions during each calendar year. AM VIE is a variable interest entity; however, based on qualitative consideration of the contracts with AM VIE, the operating structure of AM VIE, the Company’s role with AM VIE, and that the Company is not obligated to absorb expected losses of AM VIE, the Company has concluded that it is not the primary beneficiary and not required to consolidate the operations of AM VIE. The Company’s maximum exposure to loss as a result of its involvement with AM VIE is limited to any receivable from AM VIE’s primary beneficiary (NMR, a related party). As of March 28, 2020 and September 28, 2019 , no amounts were due AM VIE by NMR. On April 25, 2014, the Company loaned $1,500,000 to Meadowlands Newmark, LLC. The note bears interest at 3% , compounded monthly and added to the principal, and is due in its entirety on January 31, 2024 . The note may be prepaid, in whole or in part, at any time without penalty or premium. On July 13, 2016, the Company made an additional loan to Meadowlands Newmark, LLC in the amount of $200,000 . Such amount is subject to the same terms and conditions as the original loan as discussed above. The principal and accrued interest related to this note in the amounts of $1,739,000 and $1,713,000 are included in Investment In and Receivable From New Meadowlands Racetrack in the consolidated condensed balance sheets at March 28, 2020 and September 28, 2019 , respectively.

ACCRUED EXPENSES AND OTHER CURR

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	6 Months Ended
	Mar. 28, 2020
Disclosure Text Block Supplement [Abstract]
Accrued Expenses and Other Current Liabilities	ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES Accrued expenses and other current liabilities consist of the following: March 28, September 28, (In thousands) Sales tax payable $ 1,361 $ 1,141 Accrued wages and payroll related costs 1,100 2,942 Customer advance deposits 4,303 5,071 Accrued occupancy and other operating expenses 2,811 1,518 $ 9,575 $ 10,672

NOTES PAYABLE - BANK

NOTES PAYABLE - BANK	6 Months Ended
	Mar. 28, 2020
Notes Payable [Abstract]
Notes Payable - Bank	NOTES PAYABLE – BANK Long-term debt consists of the following: March 28, September 28, (In thousands) Promissory Note - Rustic Inn purchase $ 3,901 $ 4,043 Promissory Note - Shuckers purchase 4,505 4,675 Promissory Note - Oyster House purchase 4,418 4,728 Promissory Note - JB's on the Beach purchase 6,250 6,750 Promissory Note - Sequoia renovation 2,857 3,086 Revolving Facility 6,366 3,366 28,297 26,648 Less: Current maturities (2,701 ) (2,701 ) Less: Unamortized deferred financing costs (140 ) (161 ) Long-term debt $ 25,456 $ 23,786 On June 1, 2018, the Company refinanced (the "Refinancing") its then existing indebtedness with its current lender, Bank Hapoalim B.M. (“BHBM”), by entering into an amended and restated credit agreement (the "Revolving Facility”), which expires on May 31, 2021 . The Revolving Facility provides for total availability of the lesser of (i) $10,000,000 and (ii) $35,000,000 less the then aggregate amount of all indebtedness and obligations to BHBM. Borrowings under the Revolving Facility are payable upon maturity of the Revolving Facility with interest payable monthly at LIBOR plus 3.5% , subject to adjustment based on certain ratios. As of March 28, 2020 and September 28, 2019 , borrowings of $6,366,000 and $ 3,366,000 , respectively, were outstanding under the Revolving Facility and had a weighted average interest rate of 4.1% and 4.9% , respectively. As of March 28, 2020 , $3,396,000 was available under the Revolving Facility which was drawn down in June 2020 (see Note 14 – Subsequent Events). In connection with the Refinancing, the Company also amended the principal amounts and payment terms of its outstanding term notes with BHBM as follows: • Promissory Note – Rustic Inn purchase – On February 25, 2013, the Company issued a promissory note to BHBM for $3,000,000 . The note bore interest at LIBOR plus 3.5% per annum, and was payable in 36 equal monthly installments of $83,333 , commencing on March 25, 2013 . On February 24, 2014, in connection with the acquisition of the Rustic Inn , the Company borrowed an additional $6,000,000 from BHBM under the same terms and conditions as the original loan which was consolidated with the remaining principal balance from the original borrowing at that date. The new loan was payable in 60 equal monthly installments of $134,722 , which commenced on March 25, 2014 . In connection with the Refinancing, this note was amended and restated and increased by $2,783,333 of credit facility borrowings. The new principal amount of $4,400,000 , which is secured by a mortgage on the Rustic Inn real estate, is payable in 27 equal quarterly installments of $71,333 , commencing on September 1, 2018 , with a balloon payment of $2,474,000 on June 1, 2025 and bears interest at LIBOR plus 3.5% per annum. • Promissory Note – Shuckers purchase – On October 22, 2015, in connection with the acquisition of Shuckers , the Company issued a promissory note to BHBM for $5,000,000 . The note bore interest at LIBOR plus 3.5% per annum, and was payable in 60 equal monthly installments of $83,333 , commencing on November 22, 2015 . In connection with the Refinancing, this note was amended and restated and increased by $2,433,324 of credit facility borrowings. The new principal amount of $5,100,000 , which is secured by a mortgage on the Shuckers real estate, is payable in 27 equal quarterly installments of $85,000 , commencing on September 1, 2018 , with a balloon payment of $2,805,000 on June 1, 2025 and bears interest at LIBOR plus 3.5% per annum. • Promissory Note – Oyster House purchase – On November 30, 2016, in connection with the acquisition of the Oyster House properties, the Company issued a promissory note under the Revolving Facility to BHBM for $8,000,000 . The note bore interest at LIBOR plus 3.5% per annum, and was payable in 60 equal monthly installments of $133,273 , commencing on January 1, 2017 . In connection with the Refinancing, this note was amended and restated and separated into two notes. The first note, in the principal amount of $3,300,000 , is secured by a mortgage on the Oyster House Gulf Shores real estate, is payable in 19 equal quarterly installments of $117,857 , commencing on September 1, 2018 , with a balloon payment of $1,060,716 on June 1, 2023 and bears interest at LIBOR plus 3.5% per annum. The second note, in the principal amount of $2,200,000 , is secured by a mortgage on the Oyster House Spanish Fort real estate, is payable in 27 equal quarterly installments of $36,667 , commencing on September 1, 2018 , with a balloon payment of $1,210,000 on June 1, 2025 and bears interest at LIBOR plus 3.5% per annum. • Promissory Note - JB's on the Beach purchase – On May 15, 2019, in connection with the previously discussed acquisition of JB’s on the Beach , the Company issued a promissory note under the Revolving Facility to BHBM for $7,000,000 which is payable in 23 equal quarterly installments of $250,000 , commencing on September 1, 2019 , with a balloon payment of $1,250,000 on June 1, 2025 and bears interest at LIBOR plus 3.5% per annum. • Promissory Note - Sequoia renovation – Also on May 15, 2019, the Company converted $3,200,000 of Revolving Facility borrowings incurred in connection with the Sequoia renovation to a promissory note which is payable in 23 equal quarterly installments of $114,286 , commencing on September 1, 2019 , with a balloon payment of $571,429 on June 1, 2025 and bears interest at LIBOR plus 3.5% per annum. Deferred financing costs incurred in the amount of $207,000 are being amortized over the life of the agreements on a straight-line basis which approximates the effective interest rate method and included in interest expense. Amortization expense of approximately $10,000 and $8,000 is included in interest expense for the 13 weeks ended March 28, 2020 and March 30, 2019 , respectively. Amortization expense was $20,000 and $16,000 for the 26 weeks ended March 28, 2020 and March 30, 2019 , respectively. Borrowings under the Revolving Facility, which include all of the above promissory notes, are secured by all tangible and intangible personal property (including accounts receivable, inventory, equipment, general intangibles, documents, chattel paper, instruments, letter-of-credit rights, investment property, intellectual property and deposit accounts) and fixtures of the Company. The loan agreements provide, among other things, that the Company meet minimum quarterly tangible net worth amounts, as defined therein, maintain a fixed charge coverage ratio of not less than 1.1 :1 on a latest 12-months' basis and minimum annual net income amounts, and contain customary representations, warranties and affirmative covenants. The agreements also contain customary negative covenants, subject to negotiated exceptions on liens, relating to other indebtedness, capital expenditures, liens, affiliate transactions, disposal of assets and certain changes in ownership. The Company was in compliance with all of its financial covenants under the Revolving Facility as of March 28, 2020 ; however, BHBM agreed to relaxed financial covenants through fiscal Q3 2021. In addition, on April 20, 2020, the Company entered into a Payment Suspension Agreement with BHBM which deferred all monthly interest payments through June 1, 2020 and deferred aggregate principal payments of $675,000 due on June 1, 2020 to the respective loan maturity date.

LEASES

LEASES	6 Months Ended
	Mar. 28, 2020
Leases [Abstract]
Leases	LEASES Other than locations where we own the underlying property, we lease our restaurant locations as well as our corporate office under various non-cancelable real-estate lease agreements that expire on various dates through 2044. We evaluate whether we control the use of the asset, which is determined by assessing whether we obtain substantially all economic benefits from the use of the asset, and whether we have the right to direct the use of the asset. If these criteria are met and we have identified a lease, we account for the contract under the requirements of ASC 842. Upon the possession of a leased asset, we determine its classification as an operating or finance lease. All of our real estate leases are classified as operating leases. We do not have any finance leases as of March 28, 2020. Generally, our real estate leases have initial terms ranging from 10 to 25 years and typically include renewal options. Renewal options are recognized as part of the ROU assets and lease liabilities if it is reasonably certain at the date of adoption that we would exercise the options to extend the lease. Our real estate leases typically provide for fixed minimum rent payments and/or contingent rent payments based upon sales in excess of specified thresholds. When the achievement of such sales thresholds are deemed to be probable, variable lease expense is accrued in proportion to the sales recognized during the period. For operating leases that include rent holidays and rent escalation clauses, we recognize lease expense on a straight-line basis over the lease term from the date we take possession of the leased property. We record the straight-line lease expense and any contingent rent, if applicable, in occupancy expenses on the consolidated condensed statements of operations. Many of our real estate leases also require us to pay real estate taxes, common area maintenance costs and other occupancy costs (“non-lease components”) which are included in occupancy related expenses on the consolidated condensed statements of operations. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. As there were no explicit rates provided in our leases, we used our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The components of lease expense in the consolidated condensed statements of operations are as follows: 13 Weeks Ended 26 Weeks Ended March 28, 2020 March 28, (In thousands) (In thousands) Operating lease expense - occupancy expenses (1) $ 2,393 $ 4,917 Occupancy lease expense - general and administrative expenses 166 323 Variable lease expense 612 2,368 Total lease expense $ 3,171 $ 7,608 _________________________________ (1) Includes short-term leases, which are immaterial. Supplemental cash flow information related to leases: 26 Weeks Ended March 28, (In thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows related to operating leases $ 7,313 Non-cash investing activities: ROU assets obtained in exchange for new operating lease liabilities $ 62,330 The weighted-average remaining lease terms and discount rates as of March 28, 2020 are as follows: Weighted-Average Remaining Lease Term Weighted-Average Discount Rate Operating leases 10.8 Years 5.5 % The annual maturities of our lease liabilities as of March 28, 2020 are as follows: Operating Leases Fiscal Year Ending (In thousands) October 3, 2020 $ 4,580 October 2, 2021 9,236 October 1, 2022 9,313 September 30, 2023 7,800 September 28, 2024 7,413 Thereafter 40,591 Total future lease commitments 78,933 Less imputed interest (19,633 ) Present value of lease liabilities $ 59,300

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Mar. 28, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Leases — The Company leases several restaurants, bar facilities, and administrative headquarters through its subsidiaries under terms expiring at various dates through 2044 . Most of the leases provide for the payment of base rents plus real estate taxes, insurance and other expenses and, in certain instances, for the payment of a percentage of the restaurant’s sales in excess of stipulated amounts at such facility and in one instance based on profits. Legal Proceedings — In the ordinary course of its business, the Company is a party to various lawsuits arising from accidents at its restaurants and workers' compensation claims, which are generally handled by the Company’s insurance carriers. The employment by the Company of management personnel, waiters, waitresses and kitchen staff at a number of different restaurants has resulted, from time to time, in litigation alleging violation by the Company of employment discrimination laws. Management believes, based in part on the advice of counsel, that the ultimate resolution of these matters will not have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows. On May 1, 2018, two former tipped service workers (the “Plaintiffs”), individually and on behalf of all other similarly situated personnel, filed a putative class action lawsuit (the “Complaint”) against the Company and certain subsidiaries as well as certain officers of the Company (the “Defendants”). Plaintiffs allege on behalf of themselves and the putative class, that the Company violated certain of the New York State Labor Laws and related regulations. The Complaint seeks unspecified money damages, together with interest, liquidated damages and attorney fees. There has been no discovery on the merits of the Complaint and the matter is still in the initial stages of discovery concerning whether the named Plaintiffs are seeking to represent an appropriate class of tipped service workers and if so, whether the named Plaintiffs are appropriate class representatives. The Company's Motion to Dismiss the Complaint was denied on June 27, 2019. The Company believes that the allegations and claims in the Complaint are without merit, and it intends to defend itself vigorously in this litigation. However, the outcomes of legal actions are unpredictable and subject to significant uncertainties, and thus it is inherently difficult to determine the probability or quantification of any loss. Based on information currently available, including the Company’s assessment of the facts underlying the Complaint and advice of counsel, the Company recorded an accrual for this matter and related expenses as of March 28, 2020 .

STOCK OPTIONS

STOCK OPTIONS	6 Months Ended
	Mar. 28, 2020
Share-based Payment Arrangement [Abstract]
Stock Options	STOCK OPTIONS The Company has options outstanding under two stock option plans, the 2010 Stock Option Plan (the “2010 Plan”) and the 2016 Stock Option Plan (the “2016 Plan”). Options granted under both plans are exercisable at prices at least equal to the fair market value of such stock on the dates the options were granted and expire 10 years after the date of grant. During the 13- and 26-week periods ended March 28, 2020 and March 30, 2019, options to purchase 266,500 and 23,000 shares of common stock at an exercise price of $21.90 and $19.61 per share, respectively, were granted to employees, directors of the Company and other service providers. Such options are exercisable as to 50% of the shares commencing on the second anniversary of the date of grant and as to the remaining 50% commencing on the fourth anniversary of the date of grant. The grant date fair value of these stock options was $3.35 per share. The fair value of each of the Company’s stock options is estimated on the date of grant using a Black-Scholes option-pricing model that uses assumptions that relate to the expected volatility of the Company’s common stock, the expected dividend yield of our stock, the expected life of the options and the risk free interest rate. The assumptions used for the above grant include a risk free interest rate of 1.54% , volatility of 30.3% , a dividend yield of 5.2% and an expected life of 10 years . The Company also maintains a Section 162(m) Cash Bonus Plan. Under the Company's Section 162(m) Cash Bonus Plan, compensation paid in excess of $1,000,000 to any employee who is the chief executive officer, or one of the three highest paid executive officers on the last day of that tax year (other than the chief executive officer or the chief financial officer) is not tax deductible. A summary of stock option activity is presented below: 2020 Shares Weighted Average Exercise Price Weighted Average Contractual Term Aggregate Intrinsic Value Outstanding, beginning of period 363,500 $19.25 4.7 Years Options: Granted 266,500 $21.90 Exercised (3,500 ) $14.40 Canceled or expired — Outstanding and expected to vest, end of period 626,500 $20.41 6.6 Years $ — Exercisable, end of period 337,500 $19.26 3.9 Years $ — Shares available for future grant 174,500 Compensation cost charged to operations for the 13 weeks ended March 28, 2020 and March 30, 2019 for share-based compensation programs was approximately $43,000 and $12,000 , respectively, and for the 26 weeks ended March 28, 2020 and March 30, 2019 was approximately $55,000 and $24,000 , respectively. The compensation cost recognized is classified as a general and administrative expense in the consolidated condensed statements of operations. As of March 28, 2020 , there was approximately $892,000 of unrecognized compensation cost related to unvested stock options, which is expected to be recognized over a period of 3.9 years .

INCOME TAXES

INCOME TAXES	6 Months Ended
	Mar. 28, 2020
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES We calculate our interim income tax provision in accordance with ASC Topic 270, Interim Reporting and ASC Topic 740, Accounting for Income Taxes. At the end of each interim period, we estimate the annual effective tax rate and apply that rate to our ordinary year to date earnings. The related tax expense or benefit is recognized in the interim period in which it occurs. In addition, the effect of changes in enacted tax laws, rates or tax status is recognized in the interim period in which the change occurs. The computation of the annual estimated effective tax rate at each interim period requires certain estimates and significant judgment including the expected operating (loss) income for the year, permanent and temporary differences as a result of differences between amounts measured and recognized in accordance with tax laws and financial accounting standards, and the likelihood of recovering deferred tax assets generated in the current fiscal year. The accounting estimates used to compute income tax expense may change as new events occur, additional information is obtained, or the tax environment changes. On March 27, 2020, the CARES Act was enacted to provide economic relief to those impacted by the COVID-19 pandemic. The CARES Act includes provisions, among others, allowing for the carryback of net operating losses generated in 2018, 2019 and 2020, refunds of alternative minimum tax credits, temporary modifications to the limitations placed on the tax deductibility of net interest expense, and technical amendments regarding the expensing of qualified improvement property. As a result of the CARES Act, the Company is expecting to carryback estimated taxable losses in fiscal year 2020 to previous tax years in which the Company was subject to higher federal corporate income tax rates. The Company accounted for this income tax benefit as part of its estimated annual effective tax rate. The income tax benefit for the 26-week period ended March 28, 2020 was ( $95,000 ). The effective tax rate for the 26-week period ended March 28, 2020 of 50.4% differed from the statutory rate of 21% primarily as a result of the tax benefits related to the generation of FICA tax credits and the incremental benefit arising from the ability to carryback the 2020 net operating loss to prior years when the tax rate was 34%. The income tax provision for the 26-week period ended March 30, 2019 was $446,000 and included a discrete tax provision of approximately $450,000 in connection with the settlement of a tax examination. The effective tax rate for the 26-week period ended March 30, 2019 of (182.3)% differed from the statutory rate of 21% as a result of the tax benefits related to the generation of FICA tax credits offset by a discrete tax provision in connection with the settlement of a tax examination. The Company’s overall effective tax rate in the future will be affected by factors such as the utilization of state and local net operating loss carryforwards, the generation of FICA tax credits and the mix of earnings by state taxing jurisdictions as Nevada does not impose a state income tax, as compared to the other major state and local jurisdictions in which the Company has operations. The final annual tax rate cannot be determined until the end of the fiscal year; therefore, the actual tax rate could differ from current estimates.

INCOME PER SHARE OF COMMON STOC

INCOME PER SHARE OF COMMON STOCK	6 Months Ended
	Mar. 28, 2020
Earnings Per Share [Abstract]
Income Per Share of Common Stock	INCOME PER SHARE OF COMMON STOCK Basic earnings per share is computed by dividing net income attributable to Ark Restaurants Corp. by the weighted-average number of common shares outstanding for the period. Our diluted earnings per share is computed similarly to basic earnings per share, except that it reflects the effect of common shares issuable upon exercise of stock options, using the treasury stock method in periods in which they have a dilutive effect. For the 13-week and 26-week periods ended March 28, 2020, the dilutive effect of options to purchase 129,000 shares of common stock at an exercise price of $14.40 per share, options to purchase 5,000 shares of common stock at an exercise price of $20.26 per share, options to purchase 172,500 shares of common stock at an exercise price of $22.50 per share, options to purchase 20,000 shares of common stock at an exercise price of $22.30 per share, options to purchase 11,000 shares of common stock at an exercise price of $20.18 per share and options to purchase 266,500 shares of common stock at an exercise price of $21.90 per share were not included in diluted earnings per share as their impact would be anti-dilutive. For the 13-week and 26-week periods ended March 30, 2019 , the dilutive effect of options to purchase 35,000 shares of common stock at an exercise price of $12.04 per share, options to purchase 133,750 shares of common stock at an exercise price of $ 14.40 per share, options to purchase 5,000 shares of common stock at an exercise price of $20.26 per share, options to purchase 173,500 shares of common stock at an exercise price of $22.50 per share and options to purchase 20,000 shares of common stock at an exercise price of $22.30 per share were not included in diluted earnings per share as their impact would be anti-dilutive.

DIVIDENDS

DIVIDENDS	6 Months Ended
	Mar. 28, 2020
Dividends [Abstract]
Dividends	DIVIDENDS On November 26, 2019, the Board of Directors declared a quarterly dividend of $0.25 per share on the Company’s common stock which was paid on January 7, 2020 , to shareholders of record at the close of business on December 16, 2019 . On March 13, 2020, the Company announced that, in light of the unprecedented circumstances and rapidly changing situation with respect to the coronavirus disease (COVID-19), as part of an overall plan to preserve cash flow, the Board of Directors determined that it was appropriate for the Company to defer payment of the dividend that was declared on March 2, 2020. Payment of such dividend, which was scheduled for April 6, 2020 to shareholders of record on March 16, 2020, has been deferred until such time as the Board of Directors determines that payment is appropriate. As of March 28, 2020, the Company reduced retained earnings for the accrual of $876,000 relating to this dividend. The payment of future dividends is at the discretion of the Company’s Board of Directors and is based on future earnings, cash flow, financial condition, capital requirements, changes in U.S. taxation and other relevant factors. The Company does not expect to pay quarterly cash dividends for the foreseeable future as a result of the disruption to its operations from the COVID-19 pandemic (see Note 14 – Subsequent Events).

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Mar. 28, 2020
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS Reliance on SEC Relief from Filing Requirements On March 25, 2020, the SEC issued an Order under Section 36 of the Securities Exchange Act of 1934 Modifying Exemptions From the Reporting and Proxy Delivery Requirements for Public Companies, (Release No. 34-88465) (the “Order”), which provides conditional relief to registrants subject to the reporting requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 that are unable to meet a filing deadline due to circumstances related to COVID-19. We have experienced significant disruptions to our business and operations. In particular, COVID-19 restrictions have limited access to our corporate offices and required our corporate personnel, including our legal and accounting staff, as well as the staff of our independent registered public accounting firm to work remotely. The restrictions have resulted in limited access to the Company’s financial records and data and disrupted interactions among the personnel involved in the completion of the Form 10-Q as of March 28, 2020 and for the quarter then ended and slowing the Company’s completion of its quarterly financial preparation of the Form 10-Q. As a result of the above, we filed a Form 8-K on May 5, 2020 taking advantage of this relief and extended the deadline for the filing of this Form 10-Q by 45 days. Paycheck Protection Program Loans During May and June, subsidiaries (the “Borrowers”) of the Company received loan proceeds from several banks (the “Lenders”) in the aggregate amount of approximately $14.9 million (the “PPP Loans”) under the Paycheck Protection Program (the “PPP”) of the CARES Act, which was enacted March 27, 2020. The PPL Loans are evidenced by individual promissory notes of each of the Borrowers (together, the “Notes”) in favor of the Lender, which Notes bear interest at the rate of 1.00% per annum. No payments of principal or interest are due under the Notes until the date on which the amount of loan forgiveness (if any) under the CARES Act for each respective Note is remitted to the lender, which can be up to 10 months after the end of the related notes covered period (which is defined as 24 weeks after the date of the loan) (the “Deferral Period”). Each Note may be prepaid by the respective Borrower at any time prior to maturity with no prepayment penalties. Funds from the PPP Loans may be used only for payroll and related costs, costs used to continue group health care benefits, mortgage payments, rent, utilities, and interest on other debt obligations that were incurred by a Borrower prior to February 15, 2020 (the “Qualifying Expenses”). Under the terms of the PPP Loans, certain amounts thereunder may be forgiven if they are used for Qualifying Expenses as described in and in compliance with the CARES Act. While the Company and each Borrower intends to use the PPP Loan proceeds exclusively for Qualifying Expenses, it is unclear and uncertain whether the conditions for forgiveness of the PPP Loans will be met under the current guidelines of the CARES Act. Accordingly, we cannot make any assurance that the Company, or any of the Borrowers, will be eligible for forgiveness of the PPP Loans, in whole or in part. To the extent, if any, that any or all of the PPP loans are not forgiven, beginning one month following expiration of the Deferral Period, and continuing monthly until 24 months from the date of each applicable Note (the “Maturity Date”), each respective Borrower is obligated to make monthly payments of principal and interest to the Lender with respect to any unforgiven portion of the Notes, in such equal amounts required to fully amortize the principal amount outstanding on such Notes as of the last day of the applicable Deferral Period by the applicable Maturity Date. Each Borrower is permitted to prepay its respective Note at any time without payment of any premium. Revolver Drawdown On June 9, 2020, the Company drew down the remaining balance of our Revolving Facility in the amount of $3,396,000 . Suspension of Dividend On June 15, 2020, the Board of Directors unanimously approved the suspension of the quarterly dividend as a result of the disruption to the Company's operations from the COVID-19 pandemic. Restaurant Openings As a result of state and local governments lifting stay at home orders and mandatory shut-down requirements, as of June 22, 2020, the Company has reopened: (i) all of its properties located in Florida and Alabama, (ii) it operations in the New York-New York Hotel & Casino Resort in Las Vegas, (iii) Sequoia in Washington DC, (iv) The Porch at Bryant Park in New York, NY, and (v) Bryant Park Grill and Café in New York, NY, at varying levels of limited capacity as allowed by federal, state and local governments.

BASIS OF PRESENTATION AND CRI_2

BASIS OF PRESENTATION AND CRITICAL ACCOUNTING POLICIES (Policies)	6 Months Ended
	Mar. 28, 2020
Accounting Policies [Abstract]
Principles of Consolidation	PRINCIPLES OF CONSOLIDATION — The consolidated condensed financial statements include the accounts of Ark Restaurants Corp. and all of its wholly-owned subsidiaries, partnerships and other entities in which it has a controlling interest, collectively herein referred to as the “Company”. Also included in the consolidated condensed financial statements are certain variable interest entities (“VIEs”). All significant intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates	USE OF ESTIMATES — The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities, at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The accounting estimates that require management’s most difficult and subjective judgments include projected cash flow, allowances for potential bad debts on receivables, assumptions regarding discount rates related to lease accounting, the useful lives and recoverability of its assets, such as property and intangibles, fair values of financial instruments and share-based compensation, the realizable value of its tax assets and determining when investment impairments are other-than-temporary. Because of the uncertainty in such estimates, actual results may differ from these estimates. The results of operations for the 13 and 26 weeks ended March 28, 2020 are not necessarily indicative of the results to be expected for any other interim period or for the year ending October 3, 2020 .
Reclassifications	RECLASSIFICATIONS — Certain reclassifications of prior period amounts have been made to conform to the current period presentation. The Company eliminated the presentation of restaurant operating income (loss) as a non-GAAP measure from its consolidated condensed statements of operations.
Seasonality	SEASONALITY — The Company has substantial fixed costs that do not decline proportionally with sales. The first and second fiscal quarters, which include the winter months, usually reflect lower customer traffic than in the third and fourth fiscal quarters. However, sales in the third and fourth fiscal quarters can be adversely affected by inclement weather due to the significant amount of outdoor seating at the Company’s restaurants
Fair Value of Financial Instruments	FAIR VALUE OF FINANCIAL INSTRUMENTS — The carrying amount of cash and cash equivalents, receivables, accounts payable and accrued expenses approximate fair value due to the immediate or short-term maturity of these financial instruments. The fair values of notes receivable and payable are determined using current applicable rates for similar instruments as of the balance sheet dates and approximate the carrying value of such debt instruments.
Cash and Cash Equivalents	CASH AND CASH EQUIVALENTS — Cash and cash equivalents include cash on hand, deposits with banks and highly liquid investments generally with original maturities of three months or less. Outstanding checks in excess of account balances, typically vendor payments, payroll and other contractual obligations disbursed after the last day of a reporting period are reported as a current liability in the accompanying consolidated condensed balance sheets.
Concentrations of Credit Risk	CONCENTRATIONS OF CREDIT RISK — Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. The Company reduces credit risk by placing its cash and cash equivalents with major financial institutions with high credit ratings. At times, such amounts may exceed Federally insured limits. Accounts receivable are primarily comprised of normal business receivables, such as credit card receivables, that are collected in a short period of time and amounts due from the hotel operators where the Company has a location, and are recorded upon satisfaction of the performance obligation. The Company reviews the collectability of its receivables on an ongoing basis, and provides for an allowance when it considers the entity unable to meet its obligation. The concentration of credit risk with respect to accounts receivable is generally limited due to the short payment terms extended by the Company and the number of customers comprising the Company’s customer base.
Goodwill and Trademarks	GOODWILL AND TRADEMARKS - Goodwill and trademarks are not amortized, but are subject to impairment analysis. We assess the potential impairment of goodwill and trademarks annually (at the end of our fourth quarter) and on an interim basis whenever events or changes in circumstances indicate that the carrying value may not be recoverable. If we determine through the impairment review process that goodwill or trademarks are impaired, we record an impairment charge in our consolidated condensed statements of operations. Due to the recent impact of the COVID-19 pandemic to the global economy, including but not limited to, the volatility of the Company's stock price, temporary closure of the Company's restaurants and the challenging environment for the restaurant industry in general, the Company determined that there were indicators of potential impairment of its goodwill and trademarks during the 13 weeks ended March 28, 2020. As such, the Company performed a qualitative assessment for both goodwill and its trademarks and concluded that the fair value of these assets exceeded their carrying values. Accordingly, the Company did not record any impairment to its goodwill or trademarks during the 13 and 26 weeks ended March 28, 2020. The ultimate severity and longevity of the COVID-19 pandemic is unknown, and therefore, it is possible that impairments could be identified in future periods, and such amounts could be material.
Long-lived And Right-Of-Use-Assets	LONG-LIVED AND RIGHT-OF-USE ASSETS - Long-lived assets, such as property, plant and equipment, purchased intangibles subject to amortization, and right-of-use assets ("ROU assets") are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. In the evaluation of the fair value and future benefits of long-lived assets, the Company performs an analysis of the anticipated undiscounted future net cash flows of the related long-lived assets. If the carrying value of the related asset exceeds the undiscounted cash flows, the carrying value is reduced to its fair value. Various factors including estimated future sales growth and estimated profit margins are included in this analysis. The Company considers a triggering event related to long-lived assets or ROU assets in a net asset position to have occurred related to a specific restaurant if the restaurant’s cash flows for the last twelve months are less than a minimum threshold or if consistent levels of undiscounted cash flows for the remaining lease period are less than the carrying value of the restaurant’s assets. Additionally, the Company considers a triggering event related to ROU assets to have occurred related to a specific lease if the location has been subleased and future estimated sublease income is less than current lease payments. If the Company concludes that the carrying value of certain long-lived and ROU assets will not be recovered based on expected undiscounted future cash flows, an impairment loss is recorded to reduce the long-lived or ROU assets to their estimated fair value. The fair value is measured on a nonrecurring basis using unobservable (Level 3) inputs. There is uncertainty in the projected undiscounted future cash flows used in the Company's impairment review analysis, which requires the use of estimates and assumptions. If actual performance does not achieve the projections, or if the assumptions used change in the future, the Company may be required to recognize impairment charges in future periods, and such charges could be material.
Revenue Recognition	REVENUE RECOGNITION — We recognize revenues when it satisfies a performance obligation by transferring control over a product or service to a restaurant guest or other customer. Revenues from restaurant operations are presented net of discounts, coupons, employee meals and complimentary meals and recognized when food, beverage and retail products are sold. Sales tax collected from customers is excluded from sales and the obligation is included in sales tax payable until the taxes are remitted to the appropriate taxing authorities. Catering service revenue is generated through contracts with customers whereby the customer agrees to pay a contract rate for the service. Revenues from catered events are recognized in income upon satisfaction of the performance obligation (the date the event is held) and all customer payments, including nonrefundable upfront deposits, are deferred as a contract liability until such time.
Leases	LEASES — We determine if an arrangement contains a lease at inception. An arrangement contains a lease if it implicitly or explicitly identifies an asset to be used and conveys the right to control the use of the identified asset in exchange for consideration. As a lessee, we include operating leases in Operating lease right-of-use assets and Operating lease liabilities in our consolidated condensed balance sheet. Right-of-use assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease right-of-use assets and liabilities are recognized upon commencement of the lease based on the present value of the lease payments over the lease term. As most of our leases do not provide an implicit interest rate, we use our incremental borrowing rate based on the information available at commencement date to determine the present value of lease payments. Our lease terms may include options to extend or terminate the lease. Options are included when it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Leases with a lease term of 12 months or less are accounted for using the practical expedient which allows for straight-line rent expense over the remaining term of the lease.
Segment Reporting	SEGMENT REPORTING — As of March 28, 2020 , the Company owned and operated 20 restaurants and bars, 17 fast food concepts and catering operations, exclusively in the United States, that have similar economic characteristics, nature of products and services, class of customers and distribution methods. The Company believes it meets the criteria for aggregating its operating segments into a single reporting segment in accordance with applicable accounting guidance.
Recently Adopted Accounting Principles and New Accounting Standards Not Yet Adopted	RECENTLY ADOPTED ACCOUNTING PRINCIPLES — In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which amends the existing accounting standards for lease accounting, including requiring lessees to recognize assets and liabilities for leases with lease terms of more than twelve months. The new guidance also requires additional disclosures about leases. The Company adopted the new standard on September 29, 2019 (the first day of fiscal year 2020) using the modified retrospective approach, without restating comparative periods for those lease contracts for which we have taken possession of the property as of September 28, 2019. Accordingly, prior period amounts were not revised and continue to be reported in accordance with ASC Topic 840 (“ASC 840”), the accounting standard then in effect. As part of our adoption we elected the "package of practical expedients", as well as the hindsight practical expedient, permitted under the new guidance, which, among other things, allowed the Company to continue utilizing historical classifications of leases as well as allowing us to combine lease and non-lease components of our real estate leases. We also elected to adopt the short-term lease exception for all leases with terms of twelve months or less and account for them using straight-line rent expense over the remaining life of the lease. As a result of the adoption of this guidance, we recorded ROU assets of $62,330,000 and lease liabilities related to our real estate operating leases of $63,943,000 . The adoption of this standard did not materially impact retained earnings or our consolidated condensed statement of operations and had no impact on cash flows. In June 2018, the FASB issued ASU 2018-07, Compensation - Stock Compensation (Topic 718): Improvements to Non-employee Share-Based Payment Accounting, which simplifies the accounting for share-based payments granted to non-employees for goods and services. Under this ASU, the guidance on share-based payments to non-employees would be aligned with the requirements for share-based payments granted to employees, with certain exceptions. The Company adopted this guidance in the first quarter of fiscal 2020. Such adoption did not have a material impact on our consolidated condensed financial statements. NEW ACCOUNTING STANDARDS NOT YET ADOPTED — In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which modifies Topic 740 to simplify the accounting for income taxes. ASU 2019-12 is effective for financial statements issued for annual periods beginning after December 15, 2020, and for the interim periods therein. The Company is currently evaluating the effect of adopting ASU 2019-12 to determine the impact on the Company’s consolidated financial position and results of operations.

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	6 Months Ended
	Mar. 28, 2020
Variable Interest Entities [Abstract]
Schedule of Variable Interest Entities	Following are the required disclosures associated with the Company’s consolidated VIEs: March 28, September 28, (in thousands) Cash and cash equivalents $ 144 $ 170 Accounts receivable 187 219 Inventories 34 41 Prepaid and refundable income taxes 254 254 Prepaid expenses and other current assets 10 12 Due from Ark Restaurants Corp. and affiliates (1) 295 392 Fixed assets - net 235 236 Operating lease right-of-use assets - net 2,784 — Other assets 82 82 Total assets $ 4,025 $ 1,406 Accounts payable - trade $ 27 $ 65 Accrued expenses and other current liabilities 456 440 Current portion of operating lease liabilities 216 — Operating lease deferred credit — (30 ) Operating lease liabilities, less current portion 2,558 — Total liabilities 3,257 475 Equity of variable interest entities 768 931 Total liabilities and equity $ 4,025 $ 1,406 (1) Amounts Due from and to Ark Restaurants Corp. and affiliates are eliminated upon consolidation.

RECENT RESTAURANT EXPANSION A_2

RECENT RESTAURANT EXPANSION AND OTHER DEVELOPMENTS (Tables)	6 Months Ended
	Mar. 28, 2020
Business Combinations [Abstract]
Allocation of Fair Values of Assets Acquired	The fair values of the assets acquired, none of which are amortizable, were allocated as follows (amounts in thousands): Cash $ 11 Inventory 80 Furniture, fixtures and equipment 200 Trademarks 1,110 Goodwill 5,690 Liabilities assumed (55 ) $ 7,036
Pro Forma Information	The unaudited pro forma financial information (which is presented in thousands except per share and share data), which has been adjusted for payments under the lease discussed above as well as interest expense of the term loan, is presented for informational purposes only and may not be indicative of what actual results of operations would have been had the acquisition of JB's on the Beach occurred on the dates indicated, nor does it purport to represent the results of operations for future periods. 13 Weeks Ended 26 Weeks Ended March 30, March 30, (unaudited) (unaudited) Total revenues $ 38,877 $ 82,021 Net income $ (235 ) $ (210 ) Net income per share - basic $ (0.07 ) $ (0.06 ) Net income per share - diluted $ (0.07 ) $ (0.06 ) Basic 3,475 3,475 Diluted 3,475 3,475

ACCRUED EXPENSES AND OTHER CU_2

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)	6 Months Ended
	Mar. 28, 2020
Disclosure Text Block Supplement [Abstract]
Schedule of Accrued Expenses And Other Current Liabilities	Accrued expenses and other current liabilities consist of the following: March 28, September 28, (In thousands) Sales tax payable $ 1,361 $ 1,141 Accrued wages and payroll related costs 1,100 2,942 Customer advance deposits 4,303 5,071 Accrued occupancy and other operating expenses 2,811 1,518 $ 9,575 $ 10,672

NOTES PAYABLE - BANK (Tables)

NOTES PAYABLE - BANK (Tables)	6 Months Ended
	Mar. 28, 2020
Notes Payable [Abstract]
Schedule of Debt	Long-term debt consists of the following: March 28, September 28, (In thousands) Promissory Note - Rustic Inn purchase $ 3,901 $ 4,043 Promissory Note - Shuckers purchase 4,505 4,675 Promissory Note - Oyster House purchase 4,418 4,728 Promissory Note - JB's on the Beach purchase 6,250 6,750 Promissory Note - Sequoia renovation 2,857 3,086 Revolving Facility 6,366 3,366 28,297 26,648 Less: Current maturities (2,701 ) (2,701 ) Less: Unamortized deferred financing costs (140 ) (161 ) Long-term debt $ 25,456 $ 23,786

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Mar. 28, 2020
Leases [Abstract]
Lease Cost	The components of lease expense in the consolidated condensed statements of operations are as follows: 13 Weeks Ended 26 Weeks Ended March 28, 2020 March 28, (In thousands) (In thousands) Operating lease expense - occupancy expenses (1) $ 2,393 $ 4,917 Occupancy lease expense - general and administrative expenses 166 323 Variable lease expense 612 2,368 Total lease expense $ 3,171 $ 7,608 _________________________________ (1) Includes short-term leases, which are immaterial. Supplemental cash flow information related to leases: 26 Weeks Ended March 28, (In thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows related to operating leases $ 7,313 Non-cash investing activities: ROU assets obtained in exchange for new operating lease liabilities $ 62,330 The weighted-average remaining lease terms and discount rates as of March 28, 2020 are as follows: Weighted-Average Remaining Lease Term Weighted-Average Discount Rate Operating leases 10.8 Years 5.5 %
Annual Maturities of Lease Liabilities	The annual maturities of our lease liabilities as of March 28, 2020 are as follows: Operating Leases Fiscal Year Ending (In thousands) October 3, 2020 $ 4,580 October 2, 2021 9,236 October 1, 2022 9,313 September 30, 2023 7,800 September 28, 2024 7,413 Thereafter 40,591 Total future lease commitments 78,933 Less imputed interest (19,633 ) Present value of lease liabilities $ 59,300

STOCK OPTIONS (Tables)

STOCK OPTIONS (Tables)	6 Months Ended
	Mar. 28, 2020
Share-based Payment Arrangement [Abstract]
Summary of Option Activity	A summary of stock option activity is presented below: 2020 Shares Weighted Average Exercise Price Weighted Average Contractual Term Aggregate Intrinsic Value Outstanding, beginning of period 363,500 $19.25 4.7 Years Options: Granted 266,500 $21.90 Exercised (3,500 ) $14.40 Canceled or expired — Outstanding and expected to vest, end of period 626,500 $20.41 6.6 Years $ — Exercisable, end of period 337,500 $19.26 3.9 Years $ — Shares available for future grant 174,500

BASIS OF PRESENTATION AND CRI_3

BASIS OF PRESENTATION AND CRITICAL ACCOUNTING POLICIES (Details) $ / shares in Units, $ in Thousands	Jun. 23, 2020USD ($)	Mar. 02, 2020$ / shares	Nov. 26, 2019$ / shares	Mar. 28, 2020USD ($)$ / shares	Mar. 29, 2019USD ($)	Mar. 28, 2020USD ($)segment	Mar. 29, 2019USD ($)	Sep. 28, 2019USD ($)	Sep. 29, 2019USD ($)
Business And Summary Of Significant Accounting Policies [Line Items]
Working capital deficit				$ 10,023		$ 10,023
Deferred dividend payment (in USD per share) | $ / shares		$ 0.25	$ 0.25	$ 0.25
Impairment charge				$ 364		364
Revenues				34,002	$ 35,311	77,516	$ 75,859
Unearned revenue				3,923		3,923		$ 4,549
Right-of-use asset				57,550		57,550			$ 62,330
Lease liabilities				59,300		$ 59,300			$ 63,943
Restaurants and Bars
Business And Summary Of Significant Accounting Policies [Line Items]
Number of operating segments | segment						20
Fast Food Concepts and Catering Operations
Business And Summary Of Significant Accounting Policies [Line Items]
Number of operating segments | segment						17
Catering Services
Business And Summary Of Significant Accounting Policies [Line Items]
Revenues				$ 1,552	$ 1,652	$ 7,234	$ 7,482
Two Vendors
Business And Summary Of Significant Accounting Policies [Line Items]
Concentration risk				20.00%
Three Hotel Operators | Accounts Receivable
Business And Summary Of Significant Accounting Policies [Line Items]
Concentration risk						88.00%
One Hotel Operator | Accounts Receivable
Business And Summary Of Significant Accounting Policies [Line Items]
Concentration risk								34.00%
Subsequent Event
Business And Summary Of Significant Accounting Policies [Line Items]
Restaurant management personnel furloughed	95.00%
Deferred aggregate principal payments	$ 675
Minimum | Subsequent Event
Business And Summary Of Significant Accounting Policies [Line Items]
Temporary salary reduction, corporate and administrative staff	50.00%
Temporary salary reduction, senior management	75.00%
Maximum | Subsequent Event
Business And Summary Of Significant Accounting Policies [Line Items]
Temporary salary reduction, corporate and administrative staff	75.00%
Temporary salary reduction, senior management	95.00%
Paycheck Protection Program Loan | Subsequent Event
Business And Summary Of Significant Accounting Policies [Line Items]
Paycheck Protection Program loan	$ 14,900

VARIABLE INTEREST ENTITIES - Na

VARIABLE INTEREST ENTITIES - Narrative (Details)	Mar. 28, 2020variable_interest_entity
Variable Interest Entities [Abstract]
Number of VIEs with primary benefits	3

VARIABLE INTEREST ENTITIES - Sc

VARIABLE INTEREST ENTITIES - Schedule of variable interest entities (Details) - USD ($) $ in Thousands	Mar. 28, 2020	Dec. 28, 2019	Sep. 29, 2019	Sep. 28, 2019	Mar. 29, 2019	Dec. 29, 2018	Sep. 29, 2018
Variable Interest Entity [Line Items]
Cash and cash equivalents	$ 7,330			$ 7,177
Accounts receivable	1,426			2,621
Inventories	2,824			2,222
Prepaid and refundable income taxes	254			254
Prepaid expenses and other current assets	1,427			1,021
Fixed Assets	39,088			47,781
Operating lease right-of-use asset	57,550		$ 62,330
Other assets	2,558			2,642
TOTAL ASSETS	143,157			94,652
Accounts payable - trade	4,414			3,549
Accrued expenses and other current liabilities	9,575			10,672
Current portion of operating lease liabilities	6,109
Operating lease liabilities, less current portion	53,191
TOTAL LIABILITIES	102,327			51,945
Equity of variable interest entities	40,830	$ 43,443		42,707	$ 41,245	$ 42,862	$ 43,736
TOTAL LIABILITIES AND EQUITY	143,157			94,652
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Cash and cash equivalents	144			170
Accounts receivable	187			219
Inventories	34			41
Prepaid and refundable income taxes	254			254
Prepaid expenses and other current assets	10			12
Due from Ark Restaurants Corp. and affiliates	295			392
Fixed Assets	235			236
Operating lease right-of-use asset	2,784
Other assets	82			82
TOTAL ASSETS	4,025			1,406
Accounts payable - trade	27			65
Accrued expenses and other current liabilities	456			440
Current portion of operating lease liabilities	216
Operating lease deferred credit				(30)
Operating lease liabilities, less current portion	2,558
TOTAL LIABILITIES	3,257			475
Equity of variable interest entities	768			931
TOTAL LIABILITIES AND EQUITY	$ 4,025			$ 1,406

RECENT RESTAURANT EXPANSION A_3

RECENT RESTAURANT EXPANSION AND OTHER DEVELOPMENTS - Narrative (Details)	Sep. 29, 2019USD ($)	Sep. 28, 2019USD ($)	Sep. 16, 2019USD ($)	May 15, 2019USD ($)	Mar. 28, 2020USD ($)	Mar. 28, 2020USD ($)developing_restaurant
Business Acquisition [Line Items]
Notes payable		$ 26,648,000			$ 28,297,000	$ 28,297,000
Property, plant and equipment, net		47,781,000			39,088,000	39,088,000
Deferred rent		10,077,000
Right-of-use asset	$ 62,330,000				57,550,000	$ 57,550,000
Number of developing restaurants | developing_restaurant						3
JB's on the Beach
Business Acquisition [Line Items]
Consideration				$ 7,036,000
Notes payable		3,086,000		$ 7,000,000	2,857,000	$ 2,857,000
Revenues of acquiree since acquisition					3,058,000	5,480,000
Income of acquiree since acquisition					$ 580,000	622,000
JB's on the Beach
Business Acquisition [Line Items]
Lease term				20 years
Lease renewal term				5 years
Annual rent payments				$ 600,000
Rent percent increase every five years				10.00%
Rent increase period				5 years
Eastern OH
Business Acquisition [Line Items]
Property, plant and equipment, additions						$ 500,000
Leasehold Improvements And Furniture, Fixtures And Equipment | Hard Rock Casino and Hotel, Hollywood Florida
Business Acquisition [Line Items]
Property, plant and equipment, additions			$ 5,474,000
Property, plant and equipment, net			918,000
Deferred rent			$ 5,474,000
Leasehold Improvements And Furniture, Fixtures And Equipment | Hard Rock Casino and Hotel, Tampa, Florida
Business Acquisition [Line Items]
Property, plant and equipment, additions		3,179,000
Property, plant and equipment, net		459,000
Deferred rent		$ 3,179,000
ASC 842 | Leasehold Improvements And Furniture, Fixtures And Equipment
Business Acquisition [Line Items]
Right-of-use asset	1,071,000
ASC 842 | Leasehold Improvements And Furniture, Fixtures And Equipment | Hard Rock Casino And Hotel, Hollywood And Tampa, Florida
Business Acquisition [Line Items]
Property, plant and equipment, additions	(8,269,000)
Deferred rent	$ (7,198,000)

RECENT RESTAURANT EXPANSION A_4

RECENT RESTAURANT EXPANSION AND OTHER DEVELOPMENTS - Schedule of Assets Acquired (Details) - USD ($) $ in Thousands	Mar. 28, 2020	Sep. 28, 2019	May 15, 2019
Business Acquisition [Line Items]
Goodwill	$ 15,570	$ 15,570
JB's on the Beach
Business Acquisition [Line Items]
Cash			$ 11
Inventory			80
Furniture, fixtures and equipment			200
Trademarks			1,110
Goodwill			5,690
Liabilities assumed			(55)
Assets acquired, net			$ 7,036

RECENT RESTAURANT EXPANSION A_5

RECENT RESTAURANT EXPANSION AND OTHER DEVELOPMENTS - Pro Forma Financial Information (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 28, 2020	Mar. 29, 2019	Mar. 28, 2020	Mar. 29, 2019
Business Acquisition [Line Items]
Basic (in shares)	3,500	3,475	3,499	3,475
Diluted (in shares)	3,500	3,475	3,499	3,475
JB's on the Beach
Business Acquisition [Line Items]
Total revenues		$ 38,877		$ 82,021
Net income		$ (235)		$ (210)
Net income per share - basic (in USD per share)		$ (0.07)		$ (0.06)
Net income per share - diluted (in USD per share)		$ (0.07)		$ (0.06)
Basic (in shares)		3,475		3,475
Diluted (in shares)		3,475		3,475

RECENT RESTAURANT DISPOSITIONS

RECENT RESTAURANT DISPOSITIONS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 28, 2020	Mar. 29, 2019	Mar. 28, 2020	Mar. 29, 2019
RECENT RESTAURANT DISPOSITIONS (Details) [Line Items]
Loss on closure of Durgin-Park	$ 0	$ 39	$ 0	$ 1,106
Loss of termination of lease	$ 364	0	$ 364	0
Durgin Park
RECENT RESTAURANT DISPOSITIONS (Details) [Line Items]
Loss on closure of Durgin-Park		$ 39		1,106
Accelerated depreciation				333
Amortization of prepaid and other expenses				52
Durgin Park | Trademarks
RECENT RESTAURANT DISPOSITIONS (Details) [Line Items]
Trademark impairment				$ 721

INVESTMENT IN AND RECEIVABLE _2

INVESTMENT IN AND RECEIVABLE FROM NEW MEADOWLANDS RACETRACK (Details) - USD ($)	Feb. 07, 2017	Apr. 25, 2014	Nov. 19, 2013	Mar. 12, 2013	Mar. 28, 2020	Dec. 31, 2015	Sep. 28, 2019	Jul. 13, 2016
New Meadowlands Racetrack LLC
INVESTMENT IN NEW MEADOWLANDS RACETRACK (Details) [Line Items]
Payments to acquire businesses				$ 4,200,000
Ownership percentage			7.40%
Payments to acquire additional interest in subsidiaries	$ 222,000		$ 464,000			$ 222,000
Long-term Investments					$ 5,108,000
Meadowlands Newmark LLC
INVESTMENT IN NEW MEADOWLANDS RACETRACK (Details) [Line Items]
Ownership percentage			11.60%	63.70%
Loans to related party		$ 1,500,000
Interest rate		3.00%
Loan maturity date		Jan. 31, 2024
Additional loan								$ 200,000
Principal and accrued interest					$ 1,739,000		$ 1,713,000
Ark Meadowlands LLC
INVESTMENT IN NEW MEADOWLANDS RACETRACK (Details) [Line Items]
Ownership percentage by parent					97.00%
Profit participation percentage					5.00%
Maximum loss					$ 0		$ 0

ACCRUED EXPENSES AND OTHER CU_3

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES - Schedule of Accrued Expenses And Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 28, 2020	Sep. 28, 2019
Schedule of Accrued Expenses And Other Current Liabilities [Abstract]
Sales tax payable	$ 1,361	$ 1,141
Accrued wages and payroll related costs	1,100	2,942
Customer advance deposits	4,303	5,071
Accrued occupancy and other operating expenses	2,811	1,518
Accrued expenses and other current liabilities	$ 9,575	$ 10,672

NOTES PAYABLE - BANK - Schedule

NOTES PAYABLE - BANK - Schedule of Long-term Debt (Details) - USD ($)	Mar. 28, 2020	Sep. 28, 2019	May 15, 2019
NOTES PAYABLE - Schedule of Long-term debt [Line Items]
Notes payable	$ 28,297,000	$ 26,648,000
Less: Current maturities	(2,701,000)	(2,701,000)
Less: Unamortized deferred financing costs	(140,000)	(161,000)
Long-term debt	25,456,000	23,786,000
Revolving Credit Facility
NOTES PAYABLE - Schedule of Long-term debt [Line Items]
Notes payable	6,366,000	3,366,000
The Rustic Inn
NOTES PAYABLE - Schedule of Long-term debt [Line Items]
Notes payable	3,901,000	4,043,000
Shuckers Inc
NOTES PAYABLE - Schedule of Long-term debt [Line Items]
Notes payable	4,505,000	4,675,000
Oyster House
NOTES PAYABLE - Schedule of Long-term debt [Line Items]
Notes payable	4,418,000	4,728,000
Sequoia Renovation
NOTES PAYABLE - Schedule of Long-term debt [Line Items]
Notes payable	6,250,000	6,750,000
JB's on the Beach
NOTES PAYABLE - Schedule of Long-term debt [Line Items]
Notes payable	$ 2,857,000	$ 3,086,000	$ 7,000,000

NOTES PAYABLE - BANK - Narrativ

NOTES PAYABLE - BANK - Narrative (Details)

Jun. 23, 2020USD ($)

May 15, 2019USD ($)installment

Jun. 01, 2018USD ($)installment

Nov. 30, 2016USD ($)installment

Oct. 22, 2015USD ($)installment

Feb. 24, 2014USD ($)installment

Feb. 25, 2013USD ($)installment

Mar. 28, 2020USD ($)

Mar. 29, 2019USD ($)

Mar. 28, 2020USD ($)

Mar. 29, 2019USD ($)

Sep. 28, 2019USD ($)

NOTES PAYABLE - BANK (Details) [Line Items]

Notes payable

$ 28,297,000

$ 28,297,000

$ 26,648,000

The Rustic Inn

NOTES PAYABLE - BANK (Details) [Line Items]

Notes payable

3,901,000

3,901,000

4,043,000

Shuckers Inc

NOTES PAYABLE - BANK (Details) [Line Items]

Notes payable

4,505,000

4,505,000

4,675,000

Oyster House

NOTES PAYABLE - BANK (Details) [Line Items]

Notes payable

4,418,000

4,418,000

4,728,000

JB's on the Beach

NOTES PAYABLE - BANK (Details) [Line Items]

Notes payable

$ 7,000,000

2,857,000

2,857,000

3,086,000

Sequoia Renovation

NOTES PAYABLE - BANK (Details) [Line Items]

Notes payable

6,250,000

6,250,000

6,750,000

Bank Hapoalim B.M. | The Rustic Inn

NOTES PAYABLE - BANK (Details) [Line Items]

Basis spread on variable rate

3.50%

Face amount

$ 3,000,000

Number of installments | installment

60

36

Frequency of periodic payment

monthly

monthly

Periodic payment

$ 134,722

$ 83,333

Date of first required payment

Mar. 25, 2014

Mar. 25, 2013

Bank loan related to acquisition

$ 6,000,000

Bank Hapoalim B.M. | Shuckers Inc

NOTES PAYABLE - BANK (Details) [Line Items]

Basis spread on variable rate

3.50%

Face amount

$ 5,000,000

Number of installments | installment

60

Frequency of periodic payment

monthly

Periodic payment

$ 83,333

Date of first required payment

Nov. 22, 2015

Revolving Credit Facility

NOTES PAYABLE - BANK (Details) [Line Items]

Notes payable

6,366,000

6,366,000

3,366,000

Amortization of other deferred charges

207,000

Amortization

10,000

$ 8,000

20,000

$ 16,000

Revolving Credit Facility | Bank Hapoalim B.M.

NOTES PAYABLE - BANK (Details) [Line Items]

Expiration date

May 31, 2021

Current borrowing capacity

$ 10,000,000

Maximum borrowing capacity

$ 35,000,000

Basis spread on variable rate

3.50%

Credit facility

$ 6,366,000

$ 6,366,000

$ 3,366,000

Weighted average interest rate

4.10%

4.10%

4.90%

Available borrowing capacity

$ 3,396,000

$ 3,396,000

Revolving Credit Facility | Bank Hapoalim B.M. | Oyster House

NOTES PAYABLE - BANK (Details) [Line Items]

Basis spread on variable rate

3.50%

Face amount

$ 8,000,000

Number of installments | installment

60

Frequency of periodic payment

monthly

Periodic payment

$ 133,273

Date of first required payment

Jan. 1, 2017

Revolving Credit Facility | Bank Hapoalim B.M. | JB's on the Beach

NOTES PAYABLE - BANK (Details) [Line Items]

Basis spread on variable rate

3.50%

Number of installments | installment

23

Periodic payment

$ 250,000

Date of first required payment

Sep. 1, 2019

Balloon payment to be paid

$ 1,250,000

Notes payable

$ 7,000,000

Revolving Credit Facility | Bank Hapoalim B.M. | Sequoia Renovation

NOTES PAYABLE - BANK (Details) [Line Items]

Basis spread on variable rate

3.50%

Number of installments | installment

23

Periodic payment

$ 114,286

Date of first required payment

Sep. 1, 2019

Balloon payment to be paid

$ 571,429

Notes payable

$ 3,200,000

Revolving Credit Facility | Amendment | Bank Hapoalim B.M. | The Rustic Inn

NOTES PAYABLE - BANK (Details) [Line Items]

Basis spread on variable rate

3.50%

Face amount

$ 4,400,000

Number of installments | installment

27

Frequency of periodic payment

quarterly

Periodic payment

$ 71,333

Date of first required payment

Sep. 1, 2018

Additional borrowing capacity

$ 2,783,333

Balloon payment to be paid

$ 2,474,000

Revolving Credit Facility | Amendment | Bank Hapoalim B.M. | Shuckers Inc

NOTES PAYABLE - BANK (Details) [Line Items]

Basis spread on variable rate

3.50%

Face amount

$ 5,100,000

Number of installments | installment

27

Frequency of periodic payment

quarterly

Periodic payment

$ 85,000

Date of first required payment

Sep. 1, 2018

Additional borrowing capacity

$ 2,433,324

Balloon payment to be paid

$ 2,805,000

Revolving Credit Facility | Amendment | Bank Hapoalim B.M. | Oyster House Gulf Shores

NOTES PAYABLE - BANK (Details) [Line Items]

Basis spread on variable rate

3.50%

Face amount

$ 3,300,000

Number of installments | installment

19

Frequency of periodic payment

quarterly

Periodic payment

$ 117,857

Date of first required payment

Sep. 1, 2018

Balloon payment to be paid

$ 1,060,716

Revolving Credit Facility | Amendment | Bank Hapoalim B.M. | Oyster House Spanish Fort

NOTES PAYABLE - BANK (Details) [Line Items]

Basis spread on variable rate

3.50%

Face amount

$ 2,200,000

Number of installments | installment

27

Frequency of periodic payment

quarterly

Periodic payment

$ 36,667

Date of first required payment

Sep. 1, 2018

Balloon payment to be paid

$ 1,210,000

Minimum

NOTES PAYABLE - BANK (Details) [Line Items]

Fixed charge coverage ratio

1.1

Subsequent Event

NOTES PAYABLE - BANK (Details) [Line Items]

Deferred aggregate principal payments

$ 675,000

LEASES - Narrative (Details)

LEASES - Narrative (Details)	Mar. 28, 2020
Minimum
Lessor, Lease, Description [Line Items]
Lease term	10 years
Maximum
Lessor, Lease, Description [Line Items]
Lease term	25 years

LEASES - Components of Lease Ex

LEASES - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 28, 2020	Mar. 28, 2020
Leases [Abstract]
Operating lease expense - occupancy expenses	$ 2,393	$ 4,917
Occupancy lease expense - general and administrative expenses	166	323
Variable lease expense	612	2,368
Total lease expense	$ 3,171	$ 7,608

LEASES - Supplemental Cash Flow

LEASES - Supplemental Cash Flow (Details) $ in Thousands	6 Months Ended
	Mar. 28, 2020USD ($)
Leases [Abstract]
Operating cash flows related to operating leases	$ 7,313
ROU assets obtained in exchange for new operating lease liabilities	$ 62,330

LEASES - Weighted Average Lease

LEASES - Weighted Average Lease Terms (Details)	Mar. 28, 2020
Leases [Abstract]
Weighted-Average Remaining Lease Term	10 years 9 months 18 days
Weighted-Average Discount Rate	5.50%

LEASES - Annual Maturities of L

LEASES - Annual Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Mar. 28, 2020	Sep. 29, 2019
Leases [Abstract]
October 3, 2020	$ 4,580
October 2, 2021	9,236
October 1, 2022	9,313
September 30, 2023	7,800
September 28, 2024	7,413
Thereafter	40,591
Total future lease commitments	78,933
Less imputed interest	(19,633)
Present value of lease liabilities	$ 59,300	$ 63,943

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details)	6 Months Ended
	Mar. 28, 2020
Commitments and Contingencies Disclosure [Abstract]
Lease expiration year	2044

STOCK OPTIONS (Details)

STOCK OPTIONS (Details)	3 Months Ended		6 Months Ended
	Mar. 28, 2020USD ($)$ / sharesshares	Mar. 29, 2019USD ($)$ / sharesshares	Mar. 28, 2020USD ($)plan$ / sharesshares	Mar. 29, 2019USD ($)$ / sharesshares
STOCK OPTIONS (Details) [Line Items]
Granted (in shares) | shares			266,500	23,000
Exercise price (in USD per share) | $ / shares			$ 21.90	$ 19.61
Compensation paid | $			$ 1,000,000
Stock-based compensation | $	$ 43,000	$ 12,000	55,000	$ 24,000
Unrecognized compensation | $	$ 892,000		$ 892,000
Unrecognized compensation, period for recognition			3 years 10 months 25 days
Employee Stock Option
STOCK OPTIONS (Details) [Line Items]
Number of stock option plans | plan			2
Expiration period			10 years
Granted (in shares) | shares	266,500	23,000
Exercise price (in USD per share) | $ / shares	$ 21.90	$ 19.61
Grant date fair value (in US dollars per share) | $ / shares			$ 3.35
Risk free interest rate			1.54%
Volatility			30.30%
Dividend yield			5.20%
Expected life			10 years
Tranche Two | Employee Stock Option
STOCK OPTIONS (Details) [Line Items]
Vesting percentage			50.00%
Tranche Four | Employee Stock Option
STOCK OPTIONS (Details) [Line Items]
Vesting percentage			50.00%

STOCK OPTIONS (Details) - Sched

STOCK OPTIONS (Details) - Schedule of stock options, activity - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended		12 Months Ended
	Mar. 28, 2020	Mar. 29, 2019	Sep. 28, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding, beginning of period (in shares)	363,500
Granted (in shares)	266,500	23,000
Exercised (in shares)	(3,500)
Canceled or expired (in shares)	0
Outstanding and expected to vest, end of period (in shares)	626,500		363,500
Exercisable, end of period (in shares)	337,500
Shares available for future grant (in shares)	174,500
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Outstanding, beginning of period (in USD per share)	$ 19.25
Exercised (in USD per share)	21.90	$ 19.61
Canceled or expired (in USD per share)	14.40
Outstanding and expected to vest, end of period (in USD per share)	20.41		$ 19.25
Exercisable, end of period (in USD per share)	$ 19.26
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Weighted average contractual term, outstanding	6 years 7 months 6 days		4 years 8 months 12 days
Weighted average contractual term, exercisable	3 years 10 months 25 days
Aggregate intrinsic value, outstanding and expected to vest	$ 0
Aggregate intrinsic value, exercisable	$ 0

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 28, 2020	Mar. 29, 2019	Mar. 28, 2020	Mar. 29, 2019
Income Tax Disclosure [Abstract]
Provision (benefit) for income taxes	$ (414)	$ 423	$ (95)	$ 446
Effective income tax rate			50.40%	(182.30%)
Discrete tax provision				$ 450

INCOME PER SHARE OF COMMON ST_2

INCOME PER SHARE OF COMMON STOCK - NARRATIVE (Details) - $ / shares	3 Months Ended		6 Months Ended
	Mar. 28, 2020	Mar. 29, 2019	Mar. 28, 2020	Mar. 29, 2019
Exercise Price One
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from computation of earning per share (in shares)	129,000	35,000	129,000	35,000
Exercise price of shares excluded from computation of earnings per share (in USD per share)	$ 14.40	$ 12.04	$ 14.40	$ 12.04
Exercise Price Two
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from computation of earning per share (in shares)	5,000	133,750	5,000	133,750
Exercise price of shares excluded from computation of earnings per share (in USD per share)	$ 20.26	$ 14.40	$ 20.26	$ 14.40
Exercise Price Three
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from computation of earning per share (in shares)	172,500	5,000	172,500	5,000
Exercise price of shares excluded from computation of earnings per share (in USD per share)	$ 22.50	$ 20.26	$ 22.50	$ 20.26
Exercise Price Four
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from computation of earning per share (in shares)	20,000	173,500	20,000	173,500
Exercise price of shares excluded from computation of earnings per share (in USD per share)	$ 22.30	$ 22.50	$ 22.30	$ 22.50
Exercise Price Five
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from computation of earning per share (in shares)	11,000	20,000	11,000	20,000
Exercise price of shares excluded from computation of earnings per share (in USD per share)	$ 20.18	$ 22.30	$ 20.18	$ 22.30
Exercise Price Six
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from computation of earning per share (in shares)	266,500		266,500
Exercise price of shares excluded from computation of earnings per share (in USD per share)	$ 21.90		$ 21.90

DIVIDENDS (Details)

DIVIDENDS (Details) - USD ($) $ / shares in Units, $ in Thousands	Mar. 02, 2020	Nov. 26, 2019	Mar. 28, 2020	Mar. 29, 2019	Mar. 28, 2020	Mar. 29, 2019
Dividends [Abstract]
Dividends declared (in USD per share)	$ 0.25	$ 0.25	$ 0.25
Accrued dividend			$ 876	$ 870	$ 1,751	$ 1,738

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - Subsequent Event - USD ($) $ in Thousands	Jun. 23, 2020	Jun. 09, 2020
Bank Hapoalim B.M. | Revolving Credit Facility
Subsequent Event [Line Items]
Credit facility drawdown		$ 3,396
Paycheck Protection Program Loan
Subsequent Event [Line Items]
Paycheck Protection Program loan	$ 14,900