Ark Restaurants (ARKR) 10-K 20 Dec 22 2022 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Oct. 01, 2022	Dec. 16, 2022	Apr. 02, 2022
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Oct. 01, 2022
Current Fiscal Year End Date	--10-01
Document Transition Report	false
Entity File Number	1-09453
Entity Registrant Name	ARK RESTAURANTS CORP.
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	13-3156768
Entity Address, Address Line One	85 Fifth Avenue,
Entity Address, City or Town	New York,
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10003
City Area Code	212
Local Phone Number	206-8800
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	ARKR
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 33,543,900
Entity Common Stock, Shares Outstanding		3,600,407
Amendment Flag	false
Entity Central Index Key	0000779544
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE In accordance with General Instruction G (3) of Form 10-K, certain information required by Part III hereof will either be incorporated into this Form 10-K by reference to the registrant’s definitive proxy statement for the registrant’s 2022 Annual Meeting of Stockholders filed within 120 days of October 1, 2022 or will be included in an amendment to this Form 10-K filed within 120 days of October 1, 2022.

Audit Information

Audit Information	12 Months Ended
	Oct. 01, 2022
Auditor Information [Abstract]
Auditor Name	CohnReznick LLP
Auditor Firm ID	596
Auditor Location	Melville, New York

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Oct. 01, 2022	Oct. 02, 2021
CURRENT ASSETS:
Cash and cash equivalents (includes $834 at October 1, 2022 and $785 at October 2, 2021 related to VIEs)	$ 23,439	$ 19,171
Certificate of deposit, plus accrued interest	5,021	0
Accounts receivable (includes $140 at October 1, 2022 and $358 at October 2, 2021 related to VIEs)	3,185	4,113
Employee receivables	440	380
Inventories (includes $38 at October 1, 2022 and $35 at October 2, 2021 related to VIEs)	3,707	3,510
Prepaid and refundable income taxes (includes $278 at October 1, 2022 and October 2, 2021 related to VIEs)	1,778	3,896
Prepaid expenses and other current assets (includes $17 at October 1, 2022 and $277 at October 2, 2021 related to VIEs)	1,523	3,205
Total current assets	39,093	34,275
FIXED ASSETS - Net (includes $212 at October 1, 2022 and $218 at October 2, 2021 related to VIEs)	34,682	36,174
OPERATING LEASE RIGHT-OF-USE ASSETS - Net (includes $2,076 at October 1, 2022 and $2,342 at October 2, 2021 related to VIEs)	101,720	56,336
INTANGIBLE ASSETS - Net	272	376
GOODWILL	17,440	17,440
TRADEMARKS	4,220	4,220
DEFERRED INCOME TAXES	3,118	3,700
INVESTMENT IN AND RECEIVABLE FROM NEW MEADOWLANDS RACETRACK	6,465	6,425
OTHER ASSETS (includes $11 at October 1, 2022 and $82 at October 2, 2021 related to VIEs)	2,524	2,270
TOTAL ASSETS	209,534	161,216
CURRENT LIABILITIES:
Accounts payable - trade (includes $135 at October 1, 2022 and $213 at October 2, 2021 related to VIEs)	4,466	4,886
Accrued expenses and other current liabilities (includes $417 at October 1, 2022 and $374 at October 2, 2021 related to VIEs)	16,312	13,679
Current portion of operating lease liabilities (includes $272 at October 1, 2022 and $249 at October 2, 2021 related to VIEs)	7,530	6,165
Current portion of notes payable (includes $0 at October 1, 2022 and $95 at October 2, 2021 related to VIEs)	6,575	6,973
Total current liabilities	34,883	31,703
OPERATING LEASE LIABILITIES, LESS CURRENT PORTION (includes $1,921 at October 1, 2022 and $2,193 at October 2, 2021 related to VIEs)	97,444	52,552
NOTES PAYABLE, LESS CURRENT PORTION, net of deferred financing costs (includes $0 at October 1, 2022 and $101 at October 2, 2021 related to VIEs)	17,089	25,509
TOTAL LIABILITIES	149,416	109,764
COMMITMENTS AND CONTINGENCIES
EQUITY:
Common stock, par value $0.01 per share - authorized, 10,000 shares; issued and outstanding, 3,600 shares at October 1, 2022 and 3,551 shares at October 2, 2021	36	36
Additional paid-in capital	15,493	14,492
Retained earnings	44,271	35,884
Total Ark Restaurants Corp. shareholders’ equity	59,800	50,412
NON-CONTROLLING INTERESTS	318	1,040
TOTAL EQUITY	60,118	51,452
TOTAL LIABILITIES AND EQUITY	$ 209,534	$ 161,216

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Thousands	Oct. 01, 2022	Oct. 02, 2021
Variable Interest Entity [Line Items]
Cash and cash equivalents	$ 23,439	$ 19,171
Accounts receivable	3,185	4,113
Inventories	3,707	3,510
Prepaid and refundable income taxes	1,778	3,896
Prepaid expenses and other current assets	1,523	3,205
Fixed assets - net	34,682	36,174
Operating lease, right-of-use assets - net	101,720	56,336
Other assets	2,524	2,270
Accounts payable - trade	4,466	4,886
Accrued expenses and other current liabilities	16,312	13,679
Current portion of operating lease liabilities	7,530	6,165
Current portion of notes payable	6,575	6,973
Operating lease liabilities, less current portion	97,444	52,552
Notes payable, less current portion	$ 17,089	$ 25,509
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	10,000,000	10,000,000
Common stock, shares outstanding (in shares)	3,600,000	3,551,000
Common stock, shares issued (in shares)	3,600,000	3,551,000
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Cash and cash equivalents	$ 834	$ 785
Accounts receivable	140	358
Inventories	38	35
Prepaid and refundable income taxes	278	278
Prepaid expenses and other current assets	17	277
Fixed assets - net	212	218
Operating lease, right-of-use assets - net	2,076	2,342
Other assets	11	82
Accounts payable - trade	135	213
Accrued expenses and other current liabilities	417	374
Current portion of operating lease liabilities	272	249
Current portion of notes payable	0	95
Operating lease liabilities, less current portion	1,921	2,193
Notes payable, less current portion	$ 0	$ 101

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Oct. 01, 2022	Oct. 02, 2021
REVENUES:
Revenues	$ 183,674	$ 131,870
COSTS AND EXPENSES:
Payroll expenses	60,000	42,579
Other operating costs and expenses	21,823	16,044
General and administrative expenses	12,936	10,523
Gain on lease termination	0	(810)
Depreciation and amortization	4,297	3,630
Total costs and expenses	173,810	125,663
OPERATING INCOME	9,864	6,207
OTHER (INCOME) EXPENSE:
Interest expense	1,192	1,230
Interest income	(109)	(51)
Other income	(421)	0
Gain on forgiveness of PPP Loans	(2,420)	(10,400)
Total other (income) expense, net	1,758	9,221
INCOME BEFORE PROVISION FOR INCOME TAXES	11,622	15,428
Provision for income taxes	1,448	1,181
CONSOLIDATED NET INCOME	10,174	14,247
Net income attributable to non-controlling interests	(893)	(1,352)
NET INCOME ATTRIBUTABLE TO ARK RESTAURANTS CORP.	$ 9,281	$ 12,895
NET INCOME PER ARK RESTAURANTS CORP. COMMON SHARE:
Basic (in dollars per share)	$ 2.61	$ 3.67
Diluted (in dollars per share)	$ 2.58	$ 3.58
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:
Basic (in shares)	3,556	3,516
Diluted (in shares)	3,603	3,604
Food and Beverage
REVENUES:
Revenues	$ 180,010	$ 128,988
COSTS AND EXPENSES:
Cost of goods and services sold	52,573	38,950
Other revenue
REVENUES:
Revenues	3,664	2,882
Occupancy
COSTS AND EXPENSES:
Cost of goods and services sold	$ 22,181	$ 14,747

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Total Ark Restaurants Corp. Shareholders’Equity	Common Stock	Additional Paid-In Capital	Retained Earnings	Non- controlling Interests
Beginning Balance (in shares) at Oct. 03, 2020			3,502,000
Beginning Balance at Oct. 03, 2020	$ 37,153	$ 36,527	$ 35	$ 13,503	$ 22,989	$ 626
Net income	$ 14,247	12,895			12,895	1,352
Exercise of stock options (in shares)	49,149		49,000
Exercise of stock options	$ 710	710	$ 1	709
Stock-based compensation	280	280		280
Distributions to non-controlling interests	(938)					(938)
Ending Balance (in shares) at Oct. 02, 2021			3,551,000
Ending Balance at Oct. 02, 2021	51,452	50,412	$ 36	14,492	35,884	1,040
Net income	$ 10,174	9,281			9,281	893
Exercise of stock options (in shares)	48,851		49,000
Exercise of stock options	$ 703	703	$ 0	703
Stock-based compensation	298	298		298
Distributions to non-controlling interests	(1,615)					(1,615)
Dividends paid - $0.25 per share	(894)	(894)			(894)
Ending Balance (in shares) at Oct. 01, 2022			3,600,000
Ending Balance at Oct. 01, 2022	$ 60,118	$ 59,800	$ 36	$ 15,493	$ 44,271	$ 318

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parentheticals)	3 Months Ended
	Oct. 01, 2022 $ / shares
Statement of Stockholders' Equity [Abstract]
Dividends paid (in Dollars per share)	$ 0.25

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Oct. 01, 2022	Oct. 02, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Consolidated net income	$ 10,174	$ 14,247
Adjustments to reconcile consolidated net income to net cash provided by operating activities:
Stock-based compensation	298	280
Gain on lease termination	0	(810)
Gain on forgiveness of PPP Loans	(2,420)	(10,400)
Deferred income taxes	582	2,197
Depreciation and amortization	4,297	3,630
Amortization of operating lease assets	873	1,808
Amortization of deferred financing costs	48	60
Changes in operating assets and liabilities:
Accounts receivable	928	(2,375)
Inventories	(197)	(918)
Prepaid, refundable and accrued income taxes	2,118	(1,026)
Prepaid expenses and other current assets	1,682	(736)
Other assets	(254)	(69)
Accounts payable - trade	(420)	2,557
Accrued expenses and other current liabilities	2,699	900
Net cash provided by operating activities	20,347	9,294
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of fixed assets	(2,701)	(2,138)
Loans and advances made to employees	(229)	(92)
Payments received on employee receivables	169	97
Purchase of certificate of deposit	(5,000)	0
Principal and interest payments received from NMR	0	500
Purchase of The Blue Moon Fish Company, net of cash acquired	0	(1,817)
Net cash used in investing activities	(7,761)	(3,450)
CASH FLOWS FROM FINANCING ACTIVITIES:
Principal payments on notes payable	(4,941)	(3,374)
Principal payments on PPP Loans	(1,571)	(68)
Proceeds from PPP Loans	0	111
Dividends paid	(894)	0
Proceeds from issuance of stock upon exercise of stock options	703	710
Distributions to non-controlling interests	(1,615)	(938)
Net cash used in financing activities	(8,318)	(3,559)
NET INCREASE IN CASH AND CASH EQUIVALENTS	4,268	2,285
CASH AND CASH EQUIVALENTS, Beginning of year	19,171	16,886
CASH AND CASH EQUIVALENTS, End of year	23,439	19,171
Cash paid during the year for:
Interest	1,119	1,067
Income taxes	826	8
Non-cash financing activities:
Note payable in connection with the purchase of The Blue Moon Fish Company	0	1,000
Refinancing of credit facility borrowings to term notes	0	9,666
Certificates of Deposit
Accrued interest on Certificate of Deposit	21	0
Accrued interest on note receivable from NMR	(21)	0
Notes Receivable
Accrued interest on Certificate of Deposit	40	51
Accrued interest on note receivable from NMR	$ (40)	$ (51)

BUSINESS AND SUMMARY OF SIGNIFI

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Oct. 01, 2022
Accounting Policies [Abstract]
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES As of October 1, 2022, Ark Restaurants Corp. and Subsidiaries (the “Company”) owned and operated 17 restaurants and bars, 16 fast food concepts and catering operations, exclusively in the United States, that have similar economic characteristics, nature of products and service, 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. The Company operates four restaurants in New York City, one in Washington, D.C., five in Las Vegas, Nevada, one in Atlantic City, New Jersey, four in Florida and two on the gulf coast of Alabama. The Las Vegas operations include four restaurants within the New York-New York Hotel and Casino Resort and operation of the hotel’s room service, banquet facilities, employee dining room and six food court concepts and one restaurant within the Planet Hollywood Resort and Casino. In Atlantic City, New Jersey, the Company operates a restaurant in the Tropicana Hotel and Casino. The Florida operations include The Rustic Inn in Dania Beach, Shuckers in Jensen Beach, JB's on the Beach in Deerfield Beach, The Blue Moon Fish Company in Fort Lauderdale and the operation of four fast food facilities in Tampa and six fast food facilities in Hollywood, each at a Hard Rock Hotel and Casino. In Alabama, the Company operates two Original Oyster Houses , one in Gulf Shores and one in Spanish Fort. COVID-19 PANDEMIC AND INFLATION — Recent global events, including the COVID-19 pandemic ("COVID-19"), have adversely affected global economies, disrupted global supply chains and labor force participation and created significant volatility and disruption of financial markets. We experienced significant and variable disruptions to our business as federal, state and local restrictions were mandated, among other remedial measures, to mitigate the spread of the COVID-19 virus. During fiscal 2021, most of our restaurants operated with no restrictions on indoor dining, although there was a significant reduction in guest traffic at our restaurants due to changes in consumer behavior as public health officials encouraged social distancing. While restrictions on the type of permitted operating model and occupancy capacity may continue to change, during fiscal 2022 all of our restaurants operated with no restrictions. During fiscal 2022, in addition to the associated impact of COVID-19, our operating results have been impacted by geopolitical and other macroeconomic factors, leading to increased commodity and wage inflation and other increased costs. The ongoing effects of COVID-19 and its variants, along with other geopolitical and macroeconomic events, could lead to further government mandates, including but not limited to capacity restrictions, shifts in consumer behavior, wage inflation, staffing challenges, product and services cost inflation and disruptions in our supply chain. If these factors significantly impact our cash flow in the future, we may again implement mitigation actions such as suspending dividends, increasing borrowings or modifying our operating strategies. Some of these measures may have an adverse impact on our business, including possible impairments of assets. Basis of Presentation — The accompanying consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and accounting principles generally accepted in the United States of America (“GAAP”). The Company’s reporting currency is the United States dollar. Accounting Period — The Company's fiscal year ends on the Saturday nearest September 30. The fiscal years ended October 1, 2022 and October 2, 2021 both included 52 weeks. Use of Estimates — The preparation of financial statements in conformity with GAAP requires management 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. Principles of Consolidation — The consolidated 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. Also included in the consolidated financial statements are certain variable interest entities (“VIEs”). All significant intercompany balances and transactions have been eliminated in consolidation. Non-Controlling Interests — Non-controlling interests represent capital contributions, distributions and income and loss attributable to the shareholders of less than wholly-owned and consolidated entities. Seasonality — The Company has substantial fixed costs that do not decline proportionally with sales. Although our business is highly seasonal, our broader geographical reach as a result of recent acquisitions mitigates some of this risk. For instance, the second quarter of our fiscal year, consisting of the non-holiday portion of the cold weather season in New York and Washington (January, February and March), is the poorest performing quarter; however, in recent years this has been partially offset by our locations in Florida as they experience increased results in the winter months. We generally achieve our best results during the warm weather, attributable to our extensive outdoor dining availability, particularly at Bryant Park in New York and Sequoia in Washington, D.C. (our largest restaurants) and our outdoor cafes. However, even during summer months these facilities can be adversely affected by unusually cool or rainy weather conditions. Our facilities in Las Vegas are indoor and generally operate on a more consistent basis throughout the year. Fair Value of Financial Instruments — Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is estimated by applying a fair value hierarchy, which requires maximizing the use of observable inputs when measuring fair value. The three levels of inputs are: • Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. • Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. • Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. 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 date and approximate the carrying value of such debt instruments. Certificates of deposit, which are considered Level 2 assets, are valued at original cost plus accrued interest, which approximates fair value. Cash and Cash Equivalents — Cash and cash equivalents include cash on hand, deposits with banks, highly liquid investments and certificates of deposit 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 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 counterparty 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 October 1, 2022, the Company had accounts receivable balances due from two hotel operators totaling 54% of total accounts receivable. As of October 2, 2021, the Company had accounts receivable balances due from one hotel operator totaling 37% of total accounts receivable. For the years ended October 1, 2022 and October 2, 2021, the Company made purchases from two vendors that accounted for 20% and 21% of total purchases, respectively. As of October 1, 2022, all debt outstanding, other than Paycheck Protection Program loans and the note payable to the sellers of The Blue Moon Fish Company , is with one lender (see Note 10 – Notes Payable). Inventories — Inventories are stated at the lower of cost (first-in, first-out) or net realizable value, and consist of food and beverages, merchandise for sale and other supplies. Fixed Assets — Fixed assets are stated at cost less accumulated depreciation and amortization. Depreciation is determined using the straight-line method over the estimated useful lives of the assets. Estimated lives range from three The Company includes in construction in progress, improvements to restaurants that are under construction or are undergoing substantial renovations. Once the projects have been completed, the Company begins depreciating and amortizing the assets. Start-up costs incurred during the construction period of restaurants, including rental of premises, training and payroll, are expensed as incurred. Long-Lived and Right-Of-Use Assets — Long-lived assets, such as property and plant and equipment 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 12 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. No impairment charges related to long-lived and ROU assets were recognized during the year ended October 1, 2022. The Company recognized impairment charges related to long-lived and ROU assets during the year ended October 2, 2021 as described in Note 4 – Recent Restaurant Dispositions. Given the inherent uncertainty in projecting results of restaurants under the current circumstances, 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. Intangible Assets — Intangible assets consist principally of purchased leasehold rights, operating rights and covenants not to compete. Costs associated with acquiring leases and subleases, principally purchased leasehold rights, and operating rights have been capitalized and are being amortized on the straight-line method based upon the initial terms of the applicable lease agreements. Covenants not to compete arising from restaurant acquisitions are amortized over the contractual period, typically five years. 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 statements of income. 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 years ended October 1, 2022 and October 2, 2021. As such, the Company performed a qualitative and quantitative 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 years ended October 1, 2022 and October 2, 2021. Investments – Each reporting period, the Company reviews its investments in equity and debt securities, except for those classified as trading, to determine whether a significant event or change in circumstances has occurred that may have an adverse effect on the fair value of such investment. When such events or changes occur, the Company evaluates the fair value compared to cost basis in the investment. For investments in non-publicly traded companies, management’s assessment of fair value is based on valuation methodologies including discounted cash flows, estimates of sales proceeds, and appraisals, as appropriate. The Company considers the assumptions that it believes hypothetical marketplace participants would use in evaluating estimated future cash flows when employing the discounted cash flow or estimates of sales proceeds valuation methodologies. In the event the fair value of an investment declines below the Company’s cost basis, management is required to determine if the decline in fair value is other than temporary. If management determines the decline is other than temporary, an impairment charge is recorded. Management’s assessment as to the nature of a decline in fair value is based on, among other things, the length of time and the extent to which the market value has been less than the cost basis; the financial condition and near-term prospects of the issuer; and the Company’s intent and ability to retain the investment for a period of time sufficient to allow for any anticipated recovery in market value. 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 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. Amendments or modifications to lease terms are accounted for as variable lease payments. 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. Revenue Recognition — The Company recognizes revenue 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). All customer payments, including nonrefundable upfront deposits, are deferred as a liability until such time. The Company recognized $11,812,000 and $3,240,000 in catering services revenue for the years ended October 1, 2022 and October 2, 2021, respectively. Unearned revenue which is included in accrued expenses and other current liabilities on the consolidated balance sheets as of October 1, 2022 and October 2, 2021 was $5,534,000 and $4,988,000, respectively. Revenues from gift cards are deferred and recognized upon redemption. Deferrals are not reduced for potential non-use as we generally have a legal obligation to remit the value of unredeemed gift cards to the relevant jurisdictions in which they are sold. As of October 1, 2022 and October 2, 2021, the total liability for gift cards in the amounts of approximately $309,000 and $252,000, respectively, are included in accrued expenses and other current liabilities in the consolidated balance sheets. Other revenues include purchase service fees which represent commissions earned by a subsidiary of the Company for providing services to other restaurant groups, as well as license fees, property management fees and other rentals. Occupancy Expenses — Occupancy expenses include rent, rent taxes, real estate taxes, insurance and utility costs. Defined Contribution Plan — The Company offers a defined contribution savings plan (the “Plan”) to all of its full-time employees. Eligible employees may contribute pre-tax amounts to the Plan subject to the Internal Revenue Code limitations. Company contributions to the Plan are at the discretion of the Board of Directors. During the years ended October 1, 2022 and October 2, 2021, the Company did not make any contributions to the Plan. Income Taxes — Income taxes are accounted for under the asset and liability method whereby deferred tax assets and liabilities are recognized for future tax consequences attributable to the temporary differences between the financial statement carrying amounts of assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period that includes the enactment date. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The Company has recorded a liability for unrecognized tax benefits resulting from tax positions taken, or expected to be taken, in an income tax return. It is the Company’s policy to recognize interest and penalties related to uncertain tax positions as a component of income tax expense. Uncertain tax positions are evaluated and adjusted as appropriate, while taking into account the progress of audits of various taxing jurisdictions. Non-controlling interests relating to the income or loss of consolidated partnerships includes no provision for income taxes as any tax liability related thereto is the responsibility of the individual minority investors. Income Per Share of Common Stock — Basic net income per share is calculated on the basis of the weighted average number of common shares outstanding during each period. Diluted net income per share reflects the additional dilutive effect of potentially dilutive shares (principally those arising from the assumed exercise of stock options). The dilutive effect of stock options is reflected in diluted earnings per share by application of the treasury stock method. Under the treasury stock method, if the average market price of a share of common stock increases above the option’s exercise price, the proceeds that would be assumed to be realized from the exercise of the option would be used to acquire outstanding shares of common stock. The dilutive effect of awards is directly correlated with the fair value of the shares of common stock. Stock-based Compensation — Stock-based compensation represents the cost related to stock-based awards granted to employees and non-employee directors. The Company measures stock-based compensation at the grant date based on the estimated fair value of the award and recognize the cost (net of estimated forfeitures) as compensation expense on a straight-line basis over the requisite service period. Upon exercise of options, all excess tax benefits and tax deficiencies resulting from the difference between the deduction for tax purposes and the stock-based compensation cost recognized for financial reporting purposes are included as a component of income tax expense. Recently Adopted Accounting Standards — In January 2017, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Update ("ASU") No. 2017-04, Intangibles - Goodwill and Other (Topic 350) - Simplifying the Test for Goodwill Impairment (“ASU 2017-04”). ASU 2017-04 simplifies the accounting for goodwill impairments by eliminating the requirement to compare the implied fair value of goodwill with its carrying amount as part of step two of the goodwill impairment test referenced in Accounting Standards Codification (“ASC”) 350, Intangibles - Goodwill and Other (“ASC 350”). As a result, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An impairment charge should be recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value. However, the impairment loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The Company adopted this guidance in the first quarter of fiscal 2021. Such adoption did not have a material impact on our consolidated financial statements. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes ("ASU 2019-12"), 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 adopted this guidance in the first quarter of fiscal 2022. Such adoption did not have a material impact on our consolidated condensed financial statements. New Accounting Standards Not Yet Adopted — In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions affected by the discontinuation of the London Interbank Offered Rate (“LIBOR”) or by another reference rate expected to be discontinued because of reference rate reform. The guidance was effective beginning March 12, 2020 and can be applied prospectively

CONSOLIDATION OF VARIABLE INTER

CONSOLIDATION OF VARIABLE INTEREST ENTITIES	12 Months Ended
	Oct. 01, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
CONSOLIDATION OF VARIABLE INTEREST ENTITIES	CONSOLIDATION OF 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: October 1, October 2, (in thousands) Cash and cash equivalents $ 834 $ 785 Accounts receivable 140 358 Inventories 38 35 Prepaid and refundable income taxes 278 278 Prepaid expenses and other current assets 17 277 Due from Ark Restaurants Corp. and affiliates (1) 400 187 Fixed assets - net 212 218 Operating lease right-of-use assets - net 2,076 2,342 Other assets 11 82 Total assets $ 4,006 $ 4,562 Accounts payable - trade $ 135 $ 213 Accrued expenses and other current liabilities 417 374 Current portion of operating lease liabilities 272 249 Current portion of notes payable — 95 Operating lease liabilities, less current portion 1,921 2,193 Notes payable, less current portion — 101 Total liabilities 2,745 3,225 Equity of variable interest entities 1,261 1,337 Total liabilities and equity $ 4,006 $ 4,562 (1) Amounts due from 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	12 Months Ended
	Oct. 01, 2022
Business Combination and Asset Acquisition [Abstract]
RECENT RESTAURANT EXPANSION AND OTHER DEVELOPMENTS	RECENT RESTAURANT EXPANSION AND OTHER DEVELOPMENTS On December 1, 2020, the Company, through a newly formed, wholly-owned subsidiary, acquired the assets of Bear Ice, Inc. and File Gumbo Inc., which collectively operated a restaurant and bar named Blue Moon Fish Company located in Lauderdale-by-the-Sea, FL. The total purchase price of $2,820,000, as set out below, was paid with cash in the amount of $1,820,000 and a four-year note held by the sellers in the amount of $1,000,000 payable monthly with 5% interest. The acquisition was accounted for as a business combination. Concurrent with the acquisition, the Company assumed the related lease which expires in 2026 and has four five-year extension options. Rent payments under the lease are approximately $360,000 per year and increase by 15% as each option is exercised. The fair values of the assets acquired were allocated as follows (amounts in thousands): Cash $ 3 Inventory 39 Security deposit 30 Trademarks 500 Non-compete agreement 380 Goodwill 1,870 Liabilities assumed (2) $ 2,820 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. The consolidated statement of income for the year ended October 2, 2021 includes revenues and net income of approximately $5,929,000 and $981,000, respectively, related to Blue Moon Fish Company . The unaudited pro forma financial information set forth below is based upon the Company’s historical consolidated statements of operations for the year ended October 2, 2021 and includes the results of operations for Blue Moon Fish Company 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 interest expense on the above-mentioned note, is presented for informational purposes only and may not be indicative of what actual results of operations would have been had the acquisition of Blue Moon Fish Company occurred on the dates indicated, nor does it purport to represent the results of operations for future periods. Year Ended October 2, Total revenues $ 132,547 Net income (loss) $ 12,926 Net income (loss) per share - basic $ 3.68 Net income (loss) per share - diluted $ 3.59 Shares - Basic 3,516 Shares - Diluted 3,604 On January 26, 2021, the Company exercised its right-of-first-refusal to acquire the land, building and parking lot associated with JB’s on the Beach and immediately contributed such rights and interest to an unrelated entity ("Sandcastle 1, LLC") that purchased the properties on March 22, 2021. In exchange, the Company received a 5% interest in Sandcastle 1, LLC, which plans future development of the sites. In addition, all rights and privileges under the current lease were assigned to Sandcastle 1, LLC, as landlord and the lease terms remain unchanged. On April 8, 2022, the Company extended its lease for Gallagher's Steakhouse at the New York-New York Hotel and Casino in Las Vegas, NV through December 31, 2032. In connection with the extension, the Company has agreed to spend a minimum of $1,500,000 to materially refresh the premises by April 30, 2023 (as extended from September 30, 2022 due to supply chain issues), subject to additional extensions as set out in the agreement. On June 24, 2022, the Company extended its lease for America at the New York-New York Hotel and Casino in Las Vegas, NV through December 31, 2033. In connection with the extension, the Company has agreed to spend a minimum of $4,000,000 to materially refresh the premises by December 31, 2024, subject to various extensions as set out in the agreement. On July 21, 2022, the Company extended its lease for the Village Eateries at the New York-New York Hotel and Casino in Las Vegas, NV through December 31, 2034. As part of this extension, the Broadway Burger Bar and Grill and Gonzalez y Gonzalez , were carved out of the Village Eateries footprint and the extended date for those two locations is December 31, 2033. In connection with the extension, the Company has agreed to spend a minimum of $3,500,000 to materially refresh all three of these premises by June 30, 2023, subject to various extensions as set out in the agreement. The above refresh obligations related to the New York-New York Hotel and Casino lease extensions are to be consistent with designs approved by the Landlord which shall not be unreasonably withheld. We will continue to pay all rent as required by the leases without abatement during construction. Note that our substantial completion of work set forth in plans approved by the Landlord shall constitute our compliance with the requirements of the completion deadlines, regardless of whether or not the amount actually expended in connection therewith is less than the minimum.

RECENT RESTAURANT DISPOSITIONS

RECENT RESTAURANT DISPOSITIONS	12 Months Ended
	Oct. 01, 2022
Recent Restaurant Dispositions [Abstract]
RECENT RESTAURANT DISPOSITIONS	RECENT RESTAURANT DISPOSITIONS On November 13, 2020, the Company was advised by the landlord that it would have to vacate Gallagher’s Steakhouse and Gallagher’s Burger Bar at the Resorts Casino Hotel located in Atlantic City, NJ which were on a month-to-month, no rent lease. The closure of these properties occurred on January 2, 2021 and did not result in a material charge to the Company’s operations. As of January 2, 2021, the Company determined that it would not reopen Thunder Grill in Washington, D.C. which had been closed since March 20, 2020. This closure did not result in a material charge to the Company’s operations. On September 1, 2021, the Company advised the landlord of Clyde Frazier's Wine and Dine that we would be closing the property permanently and terminating the lease. In connection with this notification, the Company recorded a gain of $810,000 during the year ended October 2, 2021 consisting of: (i) rent and other costs incurred in accordance with the termination provisions of the lease in the amount of $318,000, (ii) impairment of long-lived assets in the amount of $69,000 and (iii) the write-off of our security deposit in the amount of $121,000 offset by the write-off of ROU assets and related lease liabilities in the net amount of $1,318,000. On July 5, 2022, the Company terminated its lease for Lucky 7

INVESTMENT IN AND RECEIVABLE FR

INVESTMENT IN AND RECEIVABLE FROM NEW MEADOWLANDS RACETRACK	12 Months Ended
	Oct. 01, 2022
Equity Method Investments and Joint Ventures [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. The Company accounts for this investment at cost, less impairment, adjusted for subsequent observable price changes in accordance with ASU No. 2016-01. There are no observable prices for this investment. During the year ended October 1, 2022, the Company received distributions from NMR in the amount of $421,000 which are included in other income in the consolidated statement of income for the year then ended. 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 year ended October 1, 2022 and October 2, 2021. 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 a receivable from AM VIE’s primary beneficiary (NMR, a related party). As of October 1, 2022 and October 2, 2021, $22,000 and $0 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 discussed above. The principal and accrued interest related to this note, after a $500,000 payment made in July 2021, in the amounts of $1,357,000 and $1,317,000, are included in Investment In and Receivable From New Meadowlands Racetrack in the consolidated balance sheets at October 1, 2022 and October 2, 2021, respectively.

FIXED ASSETS

FIXED ASSETS	12 Months Ended
	Oct. 01, 2022
Property, Plant and Equipment [Abstract]
FIXED ASSETS	FIXED ASSETS Fixed assets consist of the following: October 1, October 2, (in thousands) Land and building $ 18,033 $ 18,033 Leasehold improvements 43,054 42,200 Furniture, fixtures and equipment 36,554 36,143 Construction in progress 355 38 97,996 96,414 Less: accumulated depreciation and amortization 63,314 60,240 Fixed Assets - Net $ 34,682 $ 36,174 Depreciation and amortization expense related to fixed assets for the years ended October 1, 2022 and October 2, 2021 was $4,193,000 and $3,577,000, respectively. Management continually evaluates unfavorable cash flows, if any, related to underperforming restaurants. Periodically it is concluded that certain properties have become impaired based on their existing and anticipated future economic outlook in their respective markets. In such instances, we may impair assets to reduce their carrying values to fair values. Estimated fair values of impaired properties are based on comparable valuations, cash flows and/or management judgment. Included in the year ended October 2, 2021 is an impairment charge of $69,000 related to Clyde Frazier's Wine and Dine (see Note 4).

INTANGIBLE ASSETS, GOODWILL AND

INTANGIBLE ASSETS, GOODWILL AND TRADEMARKS	12 Months Ended
	Oct. 01, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS, GOODWILL AND TRADEMARKS	INTANGIBLE ASSETS, GOODWILL AND TRADEMARKS Intangible assets consist of the following: October 1, October 2, (in thousands) Purchased leasehold rights (a) - fully amortized $ 1,995 $ 1,995 Noncompete agreements and other - 5-10 years 633 633 2,628 2,628 Less accumulated amortization 2,356 2,252 Intangible Assets - Net $ 272 $ 376 (a) Purchased leasehold rights arose from acquiring leases and subleases of various restaurants. Amortization expense related to intangible assets for the years ended October 1, 2022 and October 2, 2021 was $104,000 and $53,000, respectively. Amortization expense is expected to be $85,000 for fiscal 2023, 2024 and 2025 and $17,000 for fiscal 2026. Goodwill is the excess of cost over fair market value of tangible and intangible net assets acquired. Goodwill is not presently amortized but tested for impairment annually or when the facts or circumstances indicate a possible impairment of goodwill as a result of a continual decline in performance or as a result of fundamental changes in a market. Trademarks, which have indefinite lives, are not currently amortized and are tested for impairment annually or when facts or circumstances indicate a possible impairment as a result of a continual decline in performance or as a result of fundamental changes in a market. The changes in the carrying amount of goodwill and trademarks for the years ended October 1, 2022 and October 2, 2021 are as follows: Goodwill Trademarks (in thousands) Balance as of October 3, 2020 $ 15,570 $ 3,720 Acquired during the year 1,870 500 Balance as of October 2, 2021 17,440 4,220 Acquired during the year — — Balance as of October 1, 2022 $ 17,440 $ 4,220

ACCRUED EXPENSES AND OTHER CURR

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	12 Months Ended
	Oct. 01, 2022
Payables and Accruals [Abstract]
ACCRUED EXPENSES AND OTHER CURRENT LIABIITIES	ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES Accrued expenses and other current liabilities consist of the following: October 1, October 2, (in thousands) Sales tax payable $ 916 $ 910 Accrued wages and payroll related costs 5,517 4,758 Customer advance deposits 5,534 4,988 Accrued occupancy and other operating expenses 4,345 3,023 $ 16,312 $ 13,679

LEASES

LEASES	12 Months Ended
	Oct. 01, 2022
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 2046. 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 taking 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 October 1, 2022 or October 2, 2021. 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 in the consolidated statements of income. 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 in the consolidated statements of income. 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. During the third quarter of 2020, the Company suspended the vast majority of lease payments while its restaurants were closed by government mandated shutdowns as a result of the COVID-19 pandemic. The Company was able to negotiate rent concessions, abatements and deferrals with landlords on many of our operating leases. In July 2020, the FASB issued a clarification to accounting for lease concessions in response to the COVID-19 pandemic to reduce the operational challenges and complexity of lease accounting. The Company used the relief provisions provided by FASB and made an election to account for the lease concessions as if they were part of the original lease agreement. As a result of the finalization of several concession agreements with landlords, the Company recognized a reduction of rent expense in the amount of $800,000 in the year ended October 2, 2021. The components of lease expense in the consolidated statements of income are as follows: October 1, 2022 October 2, 2021 (in thousands) Operating lease expense - occupancy expenses (1) $ 10,442 $ 7,557 Occupancy lease expense - general and administrative expenses 461 396 Variable lease expense 6,498 2,970 Total lease expense $ 17,401 $ 10,923 ____________________ (1) Includes short-term leases, which are immaterial. Supplemental cash flow information related leases: October 1, 2022 October 2, 2021 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows related to operating leases $ 14,633 $ 10,485 Non-cash investing activities: ROU assets obtained in exchange for new operating lease liabilities $ 53,530 $ 8,712 The weighted average remaining lease terms and discount rate as of October 1, 2022 are as follows: Weighted Average Remaining Lease Term Weighted Average Discount Rate Operating leases 12.5 years 6.1 % The annual maturities of our lease liabilities as of October 1, 2022 are as follows: Fiscal Year Ending Operating Leases (in thousands) September 30, 2023 $ 13,695 September 28, 2024 14,023 September 27, 2025 12,995 October 3, 2026 11,867 October 2, 2027 11,547 Thereafter 85,915 Total future lease payments 150,042 Less imputed interest (45,068) Present value of lease liabilities $ 104,974

NOTES PAYABLE

NOTES PAYABLE	12 Months Ended
	Oct. 01, 2022
Notes Payable [Abstract]
NOTES PAYABLE	NOTES PAYABLE Long-term debt consists of the following: October 1, October 2, (in thousands) Promissory Note - Rustic Inn purchase $ 3,187 $ 3,473 Promissory Note - Shuckers purchase 3,655 3,995 Promissory Note - Oyster House purchase 2,873 3,492 Promissory Note - JB's on the Beach purchase 3,750 4,750 Promissory Note - Sequoia renovation 1,714 2,171 Promissory Note - Revolving Facility 7,166 9,166 Promissory Note - Blue Moon Fish Company (see Note 3) 587 827 Paycheck Protection Program Loans 797 4,722 23,729 32,596 Less: Current maturities (6,575) (6,973) Less: Unamortized deferred financing costs (65) (114) Long-term debt $ 17,089 $ 25,509 Notes Payable - Bank 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 was to mature on May 19, 2022 (as extended). The Revolving Facility provided 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. On July 26, 2021, all outstanding Revolver Borrowings, in the amount of $9,666,000, were converted to a promissory note with quarterly principal payments of $500,000 commencing on September 1, 2021, with a balloon payment of $2,166,000 on June 1, 2025. Such note bears interest at LIBOR plus 3.5% per annum. We expect that the LIBOR rate will be discontinued by June 30, 2023 and will continue to work with BHBM to identify a suitable replacement rate and amend our debt agreements to reflect this new reference rate accordingly. We do not expect the discontinuation of LIBOR as a reference rate in our debt agreements to have a material adverse effect on our financial position or materially affect our interest expense. The Revolving Facility, which includes all of the promissory notes, also requires, among other things, that the Company meet minimum quarterly tangible net worth amounts, maintain a minimum fixed charge coverage ratio and meet minimum annual net income amounts. The Revolving Facility contains customary representations, warranties and affirmative covenants as well as 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. Borrowings under the Revolving Facility 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. On June 12, 2020 and again on February 15, 2021, as a result of the impact of the COVID-19 pandemic on our business, BHBM agreed to modified financial covenants through fiscal Q2 2022. The Company was in compliance with all of its financial covenants under the Revolving Facility as of October 1, 2022. In connection with the Refinancing, the Company also amended the principal amounts and payment terms of its then 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 above 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, which commenced 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 above 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, which commenced 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 above 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, which commenced 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, which commenced 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. Paycheck Protection Program Loans During the year ended October 3, 2020, subsidiaries (the “Borrowers”) of the Company received loan proceeds from several banks (the “Lenders”) in the aggregate amount of $14,995,000 (the “PPP Loans”) under the Paycheck Protection Program (the “PPP”) of the CARES Act, which was enacted March 27, 2020. In addition, during the 13 weeks ended April 3, 2021, one of our consolidated VIEs received a second draw PPP Loan in the amount of $111,000. The PPP 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. Under the terms of the PPP Loans, some or all of the amounts thereunder, including accrued interest, 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 believe that PPP Loan proceeds were used exclusively for Qualifying Expenses, it is unclear and uncertain whether the conditions for forgiveness of the remaining PPP Loans outstanding at October 1, 2022 will be met under the current guidelines of the CARES Act. Therefore, we cannot make any assurances that the Company, or any of the Borrowers, will be eligible for forgiveness of the remaining PPP Loans in the amount of $797,000, in whole or in part. During the years ended October 1, 2022 and October 2, 2021, $2,420,000 and $10,400,000, respectively (including $65,000 and $84,000 of accrued interest, respectively), of PPP Loans were forgiven. To the extent, if any, that any of the remaining PPP Loans are not forgiven, beginning one month following expiration of the Deferral Period, and continuing monthly for 10 months (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. Accordingly, based on the above, we have classified the PPP Loan amounts expected to be forgiven as long-term in accordance with SEC interpretative guidance and the remaining amounts expected to be repaid in the next 12 months of $797,000 and $2,032,000 as short-term in the consolidated condensed balance sheets as of October 1, 2022 and October 2, 2021, respectively. During the year ended October 1, 2022 and October 2, 2021, the Company made payments related to the unforgiven portion of PPP Loans in the aggregate amount of $1,571,000 and $68,000, respectively. Deferred Financing Costs Deferred financing costs incurred in the amount of $271,000 are being amortized over the life of the agreements using the effective interest rate method and included in interest expense. Amortization expense of $48,000 and $60,000 is included in interest expense for the years ended October 1, 2022 and October 2, 2021, respectively. Maturities As of October 1, 2022, the aggregate amounts of notes payable maturities (excluding borrowings under the Revolving Facility) are as follows (in thousands): BHBM PPP Loans Blue Moon Note Total 2023 $ 5,525 $ 797 $ 253 $ 6,575 2024 4,229 — 266 4,495 2025 12,591 — 68 12,659 $ 22,345 $ 797 $ 587 $ 23,729

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Oct. 01, 2022
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 2046. 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. In connection with one of our leases, the Company obtained and delivered an irrevocable letter of credit in the amount of approximately $542,000 as a security deposit under such lease. Legal Proceedings — In the ordinary course 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 in the institution, from time to time, of 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

STOCK OPTIONS

STOCK OPTIONS	12 Months Ended
	Oct. 01, 2022
Share-Based Payment Arrangement [Abstract]
STOCK OPTIONS	STOCK OPTIONS Prior to fiscal 2022, the Company had 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 ten years after the date of grant. On March 15, 2022, the shareholders of the Company approved the Ark Restaurants Corp. 2022 Stock Option Plan (the "2022 Plan"). Effective with this approval, the Company terminated the 2016 Plan along with the 63,750 authorized but unissued options under the 2016 Plan. Such termination did not affect any of the options previously issued and outstanding under the 2016 Plan, which remain outstanding in accordance with their terms. Under the 2022 Stock Option Plan, 500,000 options were authorized for future grant and are exercisable at prices at least equal to the fair market value of such stock on the dates the options were granted. The options expire ten years after the date of grant. During the year ended October 1, 2022, options to purchase 22,500 shares of common stock at an exercise price of $17.80 per share were granted to employees and directors of the Company (the "2022 Grant"). Such options are exercisable as to 25% of the shares commencing on the first anniversary of the date of grant and 25% each year thereafter. The grant date fair value of these stock options was $4.53 per share and totaled approximately $102,000. During the year ended October 2, 2021, options to purchase 110,500 shares of common stock at an exercise price of $10.65 per share were granted to employees and directors of the Company (the "2021 Grant"). Such options are exercisable as to 50% of the shares commencing on the second anniversary of the date of grant and as to 50% on the fourth anniversary of the date of grant. The grant date fair value of these stock options was $2.22 per share and totaled approximately $246,000. The Company generally issues new shares upon the exercise of employee stock options. 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 the Company’s stock, the expected life of the options and the risk-free interest rate. The assumptions used for the 2022 Grant include a risk-free interest rate of 3.2%, volatility of 49.7%, a dividend yield of 4.2% and an expected life of 10 years. The assumptions used for the 2021 grants include a risk-free interest rate of 0.86%, volatility of 37.1%, a dividend yield of 3.0% and an expected life of 10 years. The following table summarizes stock option activity under all plans: 2022 2021 Shares Weighted Weighted Aggregate Shares Weighted Aggregate Outstanding, beginning of 596,476 $ 19.21 6.3 years 626,500 $ 20.41 Options: Granted 22,500 $ 17.80 110,750 $ 10.65 Exercised (48,851) $ 14.40 (49,149) $ 14.40 Canceled or expired (26,000) $ 18.27 (91,625) $ 19.64 Outstanding and expected to 544,125 $ 19.63 6.1 years $ 840,000 596,476 $ 19.21 $ 583,000 Exercisable, end of period 302,125 $ 21.98 4.6 years $ — 246,976 $ 20.33 $ 61,000 Shares available for future 477,500 63,750 Compensation cost charged to operations for the years ended October 1, 2022 and October 2, 2021 for share-based compensation programs was approximately $298,000 and $280,000, respectively. The compensation cost recognized is classified as a general and administrative expense in the consolidated statements of income. As of October 1, 2022, there was approximately $543,000 of unrecognized compensation cost related to unvested stock options, which is expected to be recognized over a period of four years. The following table summarizes information about stock options outstanding as of October 1, 2022: Options Outstanding Options Exercisable Range of Exercise Prices Number of Weighted Weighted Number of Weighted Weighted $10.65 103,500 $ 10.65 8.2 — $ — 0.0 $21.90 226,500 $ 21.90 8.2 113,250 $ 21.90 8.2 $22.50 137,625 $ 22.50 1.7 137,625 $ 22.50 1.7 $17.80 22,500 $ 17.80 10.0 — $ — 0.0 $19.61 - $22.30 54,000 $ 20.69 6.3 51,250 $ 20.81 6.3 544,125 $ 19.63 6.1 302,125 $ 21.98 4.6 The Company also maintains a Section 162(m) Cash Bonus Plan. Under the 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.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Oct. 01, 2022
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Inflation Reduction Act of 2022 (the “Act”) was signed into U.S. law on August 16, 2022. The Act includes various tax provisions, including an excise tax on stock repurchases, expanded tax credits for clean energy incentives, and a corporate alternative minimum tax that generally applies to U.S. corporations with average adjusted financial statement income over a three-year period in excess of $1 billion. The Company does not expect the Act to materially impact its financial statements. On March 27, 2020, the CARES Act was enacted to provide economic relief to those impacted by the COVID-19 pandemic. In addition to the PPP loans, the CARES Act made various tax law changes including among other things (i) modifications to the federal net operating loss rules including permitting federal net operating losses incurred in 2018, 2019, and 2020 tax years to be carried back to the five preceding taxable years in order to generate a refund of previously paid income taxes, (ii) enhanced recoverability of AMT tax credit carryforwards, (iii) increased the limitation under Internal Revenue Code ("IRC") Section 163(j) for 2019 and 2020 to permit additional expensing of interest, and (iv) enacted a technical correction so that qualified improvement property can be immediately expensed under IRC Section 168(k). On December 27, 2020, the Consolidated Appropriations Act of 2021 (“CAA”) was enacted and provided clarification on the tax deductibility of expenses funded with PPP loans as fully deductible for tax purposes. During the years ended October 1, 2022 and October 2, 2021, the Company recorded income of $2,420,000 and $10,400,000, respectively (including $65,000 and $84,000 of accrued interest, respectively), for financial reporting purposes related to the forgiveness of its PPP loans. The forgiveness of these amounts is not taxable. As a result of the CARES Act and the CAA, the Company carried back taxable losses from fiscal years 2020 and 2021 to generate a refund of previously paid income taxes. As a result of these carrybacks, the Company recorded income tax benefits as the taxable losses from fiscal 2020 and fiscal 2021 are being carried back to tax years in which the Company was subject to a higher federal corporate income tax rate. Included in Prepaid and Refundable Income Taxes at October 1, 2022 and October 2, 2021 is $1,360,000 and $3,766,000, respectively, related to these carryback claims. The provision for income taxes consists of the following: Year Ended October 1, October 2, (in thousands) Current provision (benefit): Federal $ 817 $ (1,093) State and local 49 77 866 (1,016) Deferred provision (benefit): Federal 173 946 State and local 409 1,251 582 2,197 $ 1,448 $ 1,181 The effective tax rate differs from the U.S. income tax rate as follows: Year Ended October 1, October 2, (in thousands) Provision at Federal statutory rate (21%) $ 2,440 $ 3,240 State and local income taxes, net of tax benefits 275 433 Gain on forgiveness of PPP Loans (432) (1,974) Tax credits (998) (741) Income (loss) attributable to non-controlling interest (188) (287) Changes in tax rates 22 33 Net operating loss carryback Federal rate benefit — (159) Change in valuation allowance 149 845 Other 180 (209) $ 1,448 $ 1,181 Deferred income taxes reflect the net effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting and tax purposes. Significant components of the Company’s deferred tax assets and liabilities are as follows: October 1, October 2, (in thousands) Deferred tax assets: State net operating loss carryforwards $ 5,293 $ 5,595 Lease liabilities 22,570 12,116 Deferred compensation 336 310 Tax credits 2,269 2,777 Other 604 492 Deferred tax assets, before valuation allowance 31,072 21,290 Valuation allowance (1,407) (1,258) Deferred tax assets, net of valuation allowance 29,665 20,032 Deferred tax liabilities: Depreciation and amortization (25,886) (15,308) Partnership investments (271) (566) Prepaid expenses (390) (458) Deferred tax liabilities (26,547) (16,332) Net deferred tax assets $ 3,118 $ 3,700 In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income. In the assessment of the valuation allowance, appropriate consideration was given to all positive and negative evidence including forecasts of future earnings and the duration of statutory carryforward periods. The Company recorded a valuation allowance of $1,407,000 and $1,258,000 as of October 1, 2022 and October 2, 2021, respectively, attributable to state and local net operating loss carryforwards which are not realizable on a more-likely-than-not basis. During the years ended October 1, 2022 and October 2, 2021, the Company’s valuation allowance increased by approximately $149,000 and $845,000, respectively, as the Company determined that certain state net operating losses became unrealizable on a more-likely-than-not basis due to certain restaurant closures in the related period. As of October 1, 2022, the Company had General Business Credit carryforwards of approximately $2,269,000 which expire through fiscal 2042. In addition, as of October 1, 2022, the Company has New York State net operating loss carryforwards of approximately $26,966,000 and New York City net operating loss carryforwards of approximately $25,291,000 that expire through fiscal 2041. A reconciliation of the beginning and ending amount of unrecognized tax benefits excluding interest and penalties is as follows: October 1, October 2, (in thousands) Balance at beginning of year $ 120 $ 102 Additions based on tax positions taken in current and prior years 39 18 Decreases based on tax positions taken in prior years — — Balance at end of year $ 159 $ 120 The entire amount of unrecognized tax benefits if recognized would reduce our annual effective tax rate. For the years ended October 1, 2022 and October 2, 2021, there are no amounts accrued for the payment of interest and penalties. The Company does not expect a significant change to its unrecognized tax benefits within the next 12 months. The Company files tax returns in the U.S. and various state and local jurisdictions with varying statutes of limitations. The 2019 through 2022 fiscal years remain subject to examination by the Internal Revenue Service and most state and local tax authorities.

INCOME PER SHARE OF COMMON STOC

INCOME PER SHARE OF COMMON STOCK	12 Months Ended
	Oct. 01, 2022
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. 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. A reconciliation of shares used in calculating earnings per basic and diluted share follows: Year Ended October 1, October 2, (in thousands) Basic 3,556 3,516 Effect of dilutive securities: Stock options 47 88 Diluted 3,603 3,604 For the year ended October 1, 2022, the dilutive effect of options to purchase 329,125 shares of common stock at exercise prices ranging from $20.18 per share to $22.50 per share were not included in diluted earnings per share as their impact would have been anti-dilutive. For the year ended October 2, 2021, the dilutive effect of options to purchase 443,500 shares of common stock at exercise prices ranging from $21.90 per share to $22.50 per share were not included in diluted earnings per share as their impact would have been anti-dilutive.

DIVIDENDS

DIVIDENDS	12 Months Ended
	Oct. 01, 2022
Earnings Per Share [Abstract]
DIVIDENDS	DIVIDENDSOn May 11, 2022 and August 10, 2022, the Board of Directors (the "Board") of the Company declared quarterly cash dividends of $0.125 per share which were paid on June 13, 2022 and September 13, 2022 to the stockholders of record of each share of the Company's common stock at the close of business on May 31, 2022 and August 31, 2022. Future decisions to pay dividends, and the amount of any dividend, are at the discretion of the Board and will depend upon operating performance and other factors.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Oct. 01, 2022
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONSEmployee receivables totaled approximately $440,000 and $380,000 at October 1, 2022 and October 2, 2021, respectively. Such amounts consist of loans that are payable on demand, bear interest at the minimum statutory rate (3.05% at October 1, 2022 and 0.17% at October 2, 2021), and are net of reserves for collectability.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Oct. 01, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTSOn November 9, 2022, the Board of Directors declared a quarterly cash dividend of $0.125 per share to be paid on December 13, 2022 to shareholders of record of each share of the Company's common stock at the close of business on November 30, 2022.In November 2022, the Company entered into a separation agreement with the Senior Vice President of its Las Vegas operations which requires the Company to pay $500,000 on January 1, 2023, this individual's last day of employment. In addition, the Company entered into a consulting agreement with this same individual effective January 1, 2023 for $200,000 per year expiring on December 31, 2025.

BUSINESS AND SUMMARY OF SIGNI_2

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Oct. 01, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation — The accompanying consolidated financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) and accounting principles generally accepted in the United States of America (“GAAP”). The Company’s reporting currency is the United States dollar.
Accounting Period	Accounting Period — The Company's fiscal year ends on the Saturday nearest September 30. The fiscal years ended October 1, 2022 and October 2, 2021 both included 52 weeks.
Use of Estimates	Use of Estimates — The preparation of financial statements in conformity with GAAP requires management 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.
Principles of Consolidation	Principles of Consolidation — The consolidated 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. Also included in the consolidated financial statements are certain variable interest entities (“VIEs”). All significant intercompany balances and transactions have been eliminated in consolidation.
Non-Controlling Interests	Non-Controlling Interests — Non-controlling interests represent capital contributions, distributions and income and loss attributable to the shareholders of less than wholly-owned and consolidated entities.
Seasonality	Seasonality — The Company has substantial fixed costs that do not decline proportionally with sales. Although our business is highly seasonal, our broader geographical reach as a result of recent acquisitions mitigates some of this risk. For instance, the second quarter of our fiscal year, consisting of the non-holiday portion of the cold weather season in New York and Washington (January, February and March), is the poorest performing quarter; however, in recent years this has been partially offset by our locations in Florida as they experience increased results in the winter months. We generally achieve our best results during the warm weather, attributable to our extensive outdoor dining availability, particularly at Bryant Park in New York and Sequoia
Fair Value of Financial Instruments	Fair Value of Financial Instruments — Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is estimated by applying a fair value hierarchy, which requires maximizing the use of observable inputs when measuring fair value. The three levels of inputs are: • Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. • Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. • Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. 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 date and approximate the carrying value of such debt instruments. Certificates of deposit, which are considered Level 2 assets, are valued at original cost plus accrued interest, which approximates fair value.
Cash and Cash Equivalents	Cash and Cash Equivalents — Cash and cash equivalents include cash on hand, deposits with banks, highly liquid investments and certificates of deposit 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 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 counterparty 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 October 1, 2022, the Company had accounts receivable balances due from two hotel operators totaling 54% of total accounts receivable. As of October 2, 2021, the Company had accounts receivable balances due from one hotel operator totaling 37% of total accounts receivable. For the years ended October 1, 2022 and October 2, 2021, the Company made purchases from two vendors that accounted for 20% and 21% of total purchases, respectively. As of October 1, 2022, all debt outstanding, other than Paycheck Protection Program loans and the note payable to the sellers of The Blue Moon Fish Company , is with one lender (see Note 10 – Notes Payable).
Inventories	Inventories — Inventories are stated at the lower of cost (first-in, first-out) or net realizable value, and consist of food and beverages, merchandise for sale and other supplies.
Fixed Assets	Fixed Assets — Fixed assets are stated at cost less accumulated depreciation and amortization. Depreciation is determined using the straight-line method over the estimated useful lives of the assets. Estimated lives range from three The Company includes in construction in progress, improvements to restaurants that are under construction or are undergoing substantial renovations. Once the projects have been completed, the Company begins depreciating and amortizing the assets. Start-up costs incurred during the construction period of restaurants, including rental of premises, training and payroll, are expensed as incurred.
Long-Lived and Right-Of-Use Assets	Long-Lived and Right-Of-Use Assets — Long-lived assets, such as property and plant and equipment 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 12 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. No impairment charges related to long-lived and ROU assets were recognized during the year ended October 1, 2022. The Company recognized impairment charges related to long-lived and ROU assets during the year ended October 2, 2021 as described in Note 4 – Recent Restaurant Dispositions. Given the inherent uncertainty in projecting results of restaurants under the current circumstances, 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.
Intangible Assets	Intangible Assets — Intangible assets consist principally of purchased leasehold rights, operating rights and covenants not to compete. Costs associated with acquiring leases and subleases, principally purchased leasehold rights, and operating rights have been capitalized and are being amortized on the straight-line method based upon the initial terms of the applicable lease agreements. Covenants not to compete arising from restaurant acquisitions are amortized over the contractual period, typically five years.
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 statements of income.
Investments	Investments – Each reporting period, the Company reviews its investments in equity and debt securities, except for those classified as trading, to determine whether a significant event or change in circumstances has occurred that may have an adverse effect on the fair value of such investment. When such events or changes occur, the Company evaluates the fair value compared to cost basis in the investment. For investments in non-publicly traded companies, management’s assessment of fair value is based on valuation methodologies including discounted cash flows, estimates of sales proceeds, and appraisals, as appropriate. The Company considers the assumptions that it believes hypothetical marketplace participants would use in evaluating estimated future cash flows when employing the discounted cash flow or estimates of sales proceeds valuation methodologies. In the event the fair value of an investment declines below the Company’s cost basis, management is required to determine if the decline in fair value is other than temporary. If management determines the decline is other than temporary, an impairment charge is recorded. Management’s assessment as to the nature of a decline in fair value is based on, among other things, the length of time and the extent to which the market value has been less than the cost basis; the financial condition and near-term prospects of the issuer; and the Company’s intent and ability to retain the investment for a period of time sufficient to allow for any anticipated recovery in market value.
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 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. Amendments or modifications to lease terms are accounted for as variable lease payments. 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.
Revenue Recognition	Revenue Recognition — The Company recognizes revenue 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). All customer payments, including nonrefundable upfront deposits, are deferred as a liability until such time. The Company recognized $11,812,000 and $3,240,000 in catering services revenue for the years ended October 1, 2022 and October 2, 2021, respectively. Unearned revenue which is included in accrued expenses and other current liabilities on the consolidated balance sheets as of October 1, 2022 and October 2, 2021 was $5,534,000 and $4,988,000, respectively. Revenues from gift cards are deferred and recognized upon redemption. Deferrals are not reduced for potential non-use as we generally have a legal obligation to remit the value of unredeemed gift cards to the relevant jurisdictions in which they are sold. As of October 1, 2022 and October 2, 2021, the total liability for gift cards in the amounts of approximately $309,000 and $252,000, respectively, are included in accrued expenses and other current liabilities in the consolidated balance sheets. Other revenues include purchase service fees which represent commissions earned by a subsidiary of the Company for providing services to other restaurant groups, as well as license fees, property management fees and other rentals.
Occupancy Expenses	Occupancy Expenses — Occupancy expenses include rent, rent taxes, real estate taxes, insurance and utility costs.
Defined Contribution Plan	Defined Contribution Plan — The Company offers a defined contribution savings plan (the “Plan”) to all of its full-time employees. Eligible employees may contribute pre-tax amounts to the Plan subject to the Internal Revenue Code limitations. Company contributions to the Plan are at the discretion of the Board of Directors. During the years ended October 1, 2022 and October 2, 2021, the Company did not make any contributions to the Plan.
Income Taxes	Income Taxes — Income taxes are accounted for under the asset and liability method whereby deferred tax assets and liabilities are recognized for future tax consequences attributable to the temporary differences between the financial statement carrying amounts of assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the period that includes the enactment date. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The Company has recorded a liability for unrecognized tax benefits resulting from tax positions taken, or expected to be taken, in an income tax return. It is the Company’s policy to recognize interest and penalties related to uncertain tax positions as a component of income tax expense. Uncertain tax positions are evaluated and adjusted as appropriate, while taking into account the progress of audits of various taxing jurisdictions. Non-controlling interests relating to the income or loss of consolidated partnerships includes no provision for income taxes as any tax liability related thereto is the responsibility of the individual minority investors.
Income Per Share of Common Stock	Income Per Share of Common Stock — Basic net income per share is calculated on the basis of the weighted average number of common shares outstanding during each period. Diluted net income per share reflects the additional dilutive effect of potentially dilutive shares (principally those arising from the assumed exercise of stock options). The dilutive effect of stock options is reflected in diluted earnings per share by application of the treasury stock method. Under the treasury stock method, if the average market price of a share of common stock increases above the option’s exercise price, the proceeds that would be assumed to be realized from the exercise of the option would be used to acquire outstanding shares of common stock. The dilutive effect of awards is directly correlated with the fair value of the shares of common stock.
Stock-based Compensation	Stock-based Compensation — Stock-based compensation represents the cost related to stock-based awards granted to employees and non-employee directors. The Company measures stock-based compensation at the grant date based on the estimated fair value of the award and recognize the cost (net of estimated forfeitures) as compensation expense on a straight-line basis over the requisite service period. Upon exercise of options, all excess tax benefits and tax deficiencies resulting from the difference between the deduction for tax purposes and the stock-based compensation cost recognized for financial reporting purposes are included as a component of income tax expense.
Recently Adopted Accounting Standards and New Accounting Standards Not Yet Adopted	Recently Adopted Accounting Standards — In January 2017, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Update ("ASU") No. 2017-04, Intangibles - Goodwill and Other (Topic 350) - Simplifying the Test for Goodwill Impairment (“ASU 2017-04”). ASU 2017-04 simplifies the accounting for goodwill impairments by eliminating the requirement to compare the implied fair value of goodwill with its carrying amount as part of step two of the goodwill impairment test referenced in Accounting Standards Codification (“ASC”) 350, Intangibles - Goodwill and Other (“ASC 350”). As a result, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An impairment charge should be recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value. However, the impairment loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The Company adopted this guidance in the first quarter of fiscal 2021. Such adoption did not have a material impact on our consolidated financial statements. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes ("ASU 2019-12"), 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 adopted this guidance in the first quarter of fiscal 2022. Such adoption did not have a material impact on our consolidated condensed financial statements. New Accounting Standards Not Yet Adopted — In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions affected by the discontinuation of the London Interbank Offered Rate (“LIBOR”) or by another reference rate expected to be discontinued because of reference rate reform. The guidance was effective beginning March 12, 2020 and can be applied prospectively

CONSOLIDATION OF VARIABLE INT_2

CONSOLIDATION OF VARIABLE INTEREST ENTITIES (Tables)	12 Months Ended
	Oct. 01, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Variable Interest Entities	Following are the required disclosures associated with the Company’s consolidated VIEs: October 1, October 2, (in thousands) Cash and cash equivalents $ 834 $ 785 Accounts receivable 140 358 Inventories 38 35 Prepaid and refundable income taxes 278 278 Prepaid expenses and other current assets 17 277 Due from Ark Restaurants Corp. and affiliates (1) 400 187 Fixed assets - net 212 218 Operating lease right-of-use assets - net 2,076 2,342 Other assets 11 82 Total assets $ 4,006 $ 4,562 Accounts payable - trade $ 135 $ 213 Accrued expenses and other current liabilities 417 374 Current portion of operating lease liabilities 272 249 Current portion of notes payable — 95 Operating lease liabilities, less current portion 1,921 2,193 Notes payable, less current portion — 101 Total liabilities 2,745 3,225 Equity of variable interest entities 1,261 1,337 Total liabilities and equity $ 4,006 $ 4,562 (1) Amounts due from Ark Restaurants Corp. and affiliates are eliminated upon consolidation.

RECENT RESTAURANT EXPANSION A_2

RECENT RESTAURANT EXPANSION AND OTHER DEVELOPMENTS (Tables)	12 Months Ended
	Oct. 01, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Business Acquisitions, by Acquisition	The fair values of the assets acquired were allocated as follows (amounts in thousands): Cash $ 3 Inventory 39 Security deposit 30 Trademarks 500 Non-compete agreement 380 Goodwill 1,870 Liabilities assumed (2) $ 2,820
Schedule of Business Acquisition, 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 interest expense on the above-mentioned note, is presented for informational purposes only and may not be indicative of what actual results of operations would have been had the acquisition of Blue Moon Fish Company occurred on the dates indicated, nor does it purport to represent the results of operations for future periods. Year Ended October 2, Total revenues $ 132,547 Net income (loss) $ 12,926 Net income (loss) per share - basic $ 3.68 Net income (loss) per share - diluted $ 3.59 Shares - Basic 3,516 Shares - Diluted 3,604

FIXED ASSETS (Tables)

FIXED ASSETS (Tables)	12 Months Ended
	Oct. 01, 2022
Property, Plant and Equipment [Abstract]
Schedule of Fixed Assets	Fixed assets consist of the following: October 1, October 2, (in thousands) Land and building $ 18,033 $ 18,033 Leasehold improvements 43,054 42,200 Furniture, fixtures and equipment 36,554 36,143 Construction in progress 355 38 97,996 96,414 Less: accumulated depreciation and amortization 63,314 60,240 Fixed Assets - Net $ 34,682 $ 36,174

INTANGIBLE ASSETS, GOODWILL A_2

INTANGIBLE ASSETS, GOODWILL AND TRADEMARKS (Tables)	12 Months Ended
	Oct. 01, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Intangible assets consist of the following: October 1, October 2, (in thousands) Purchased leasehold rights (a) - fully amortized $ 1,995 $ 1,995 Noncompete agreements and other - 5-10 years 633 633 2,628 2,628 Less accumulated amortization 2,356 2,252 Intangible Assets - Net $ 272 $ 376 (a) Purchased leasehold rights arose from acquiring leases and subleases of various restaurants.
Schedule of Changes in Carrying Amount of Goodwill and Trademarks	The changes in the carrying amount of goodwill and trademarks for the years ended October 1, 2022 and October 2, 2021 are as follows: Goodwill Trademarks (in thousands) Balance as of October 3, 2020 $ 15,570 $ 3,720 Acquired during the year 1,870 500 Balance as of October 2, 2021 17,440 4,220 Acquired during the year — — Balance as of October 1, 2022 $ 17,440 $ 4,220

ACCRUED EXPENSES AND OTHER CU_2

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)	12 Months Ended
	Oct. 01, 2022
Payables and Accruals [Abstract]
Schedule of Accrued Expenses And Other Current Liabilities	Accrued expenses and other current liabilities consist of the following: October 1, October 2, (in thousands) Sales tax payable $ 916 $ 910 Accrued wages and payroll related costs 5,517 4,758 Customer advance deposits 5,534 4,988 Accrued occupancy and other operating expenses 4,345 3,023 $ 16,312 $ 13,679

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Oct. 01, 2022
Leases [Abstract]
Schedule of Components of Lease Expense	The components of lease expense in the consolidated statements of income are as follows: October 1, 2022 October 2, 2021 (in thousands) Operating lease expense - occupancy expenses (1) $ 10,442 $ 7,557 Occupancy lease expense - general and administrative expenses 461 396 Variable lease expense 6,498 2,970 Total lease expense $ 17,401 $ 10,923 ____________________ (1) Includes short-term leases, which are immaterial. Supplemental cash flow information related leases: October 1, 2022 October 2, 2021 (in thousands) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows related to operating leases $ 14,633 $ 10,485 Non-cash investing activities: ROU assets obtained in exchange for new operating lease liabilities $ 53,530 $ 8,712 The weighted average remaining lease terms and discount rate as of October 1, 2022 are as follows: Weighted Average Remaining Lease Term Weighted Average Discount Rate Operating leases 12.5 years 6.1 %
Schedule of Annual Maturities of Lease Liabilities	The annual maturities of our lease liabilities as of October 1, 2022 are as follows: Fiscal Year Ending Operating Leases (in thousands) September 30, 2023 $ 13,695 September 28, 2024 14,023 September 27, 2025 12,995 October 3, 2026 11,867 October 2, 2027 11,547 Thereafter 85,915 Total future lease payments 150,042 Less imputed interest (45,068) Present value of lease liabilities $ 104,974

NOTES PAYABLE (Tables)

NOTES PAYABLE (Tables)	12 Months Ended
	Oct. 01, 2022
Notes Payable [Abstract]
Schedule of Long-term Debt	Long-term debt consists of the following: October 1, October 2, (in thousands) Promissory Note - Rustic Inn purchase $ 3,187 $ 3,473 Promissory Note - Shuckers purchase 3,655 3,995 Promissory Note - Oyster House purchase 2,873 3,492 Promissory Note - JB's on the Beach purchase 3,750 4,750 Promissory Note - Sequoia renovation 1,714 2,171 Promissory Note - Revolving Facility 7,166 9,166 Promissory Note - Blue Moon Fish Company (see Note 3) 587 827 Paycheck Protection Program Loans 797 4,722 23,729 32,596 Less: Current maturities (6,575) (6,973) Less: Unamortized deferred financing costs (65) (114) Long-term debt $ 17,089 $ 25,509
Schedule of Maturities of Long-term Debt	As of October 1, 2022, the aggregate amounts of notes payable maturities (excluding borrowings under the Revolving Facility) are as follows (in thousands): BHBM PPP Loans Blue Moon Note Total 2023 $ 5,525 $ 797 $ 253 $ 6,575 2024 4,229 — 266 4,495 2025 12,591 — 68 12,659 $ 22,345 $ 797 $ 587 $ 23,729

STOCK OPTIONS (Tables)

STOCK OPTIONS (Tables)	12 Months Ended
	Oct. 01, 2022
Share-Based Payment Arrangement [Abstract]
Schedule of Stock Option Activity	The following table summarizes stock option activity under all plans: 2022 2021 Shares Weighted Weighted Aggregate Shares Weighted Aggregate Outstanding, beginning of 596,476 $ 19.21 6.3 years 626,500 $ 20.41 Options: Granted 22,500 $ 17.80 110,750 $ 10.65 Exercised (48,851) $ 14.40 (49,149) $ 14.40 Canceled or expired (26,000) $ 18.27 (91,625) $ 19.64 Outstanding and expected to 544,125 $ 19.63 6.1 years $ 840,000 596,476 $ 19.21 $ 583,000 Exercisable, end of period 302,125 $ 21.98 4.6 years $ — 246,976 $ 20.33 $ 61,000 Shares available for future 477,500 63,750
Schedule of Stock Options Outstanding	The following table summarizes information about stock options outstanding as of October 1, 2022: Options Outstanding Options Exercisable Range of Exercise Prices Number of Weighted Weighted Number of Weighted Weighted $10.65 103,500 $ 10.65 8.2 — $ — 0.0 $21.90 226,500 $ 21.90 8.2 113,250 $ 21.90 8.2 $22.50 137,625 $ 22.50 1.7 137,625 $ 22.50 1.7 $17.80 22,500 $ 17.80 10.0 — $ — 0.0 $19.61 - $22.30 54,000 $ 20.69 6.3 51,250 $ 20.81 6.3 544,125 $ 19.63 6.1 302,125 $ 21.98 4.6

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Oct. 01, 2022
Income Tax Disclosure [Abstract]
Schedule of Provision for Income Taxes	The provision for income taxes consists of the following: Year Ended October 1, October 2, (in thousands) Current provision (benefit): Federal $ 817 $ (1,093) State and local 49 77 866 (1,016) Deferred provision (benefit): Federal 173 946 State and local 409 1,251 582 2,197 $ 1,448 $ 1,181
Schedule of Effective Tax Rate Reconciliation	The effective tax rate differs from the U.S. income tax rate as follows: Year Ended October 1, October 2, (in thousands) Provision at Federal statutory rate (21%) $ 2,440 $ 3,240 State and local income taxes, net of tax benefits 275 433 Gain on forgiveness of PPP Loans (432) (1,974) Tax credits (998) (741) Income (loss) attributable to non-controlling interest (188) (287) Changes in tax rates 22 33 Net operating loss carryback Federal rate benefit — (159) Change in valuation allowance 149 845 Other 180 (209) $ 1,448 $ 1,181
Schedule of Deferred Tax Assets and Liabilities	Significant components of the Company’s deferred tax assets and liabilities are as follows: October 1, October 2, (in thousands) Deferred tax assets: State net operating loss carryforwards $ 5,293 $ 5,595 Lease liabilities 22,570 12,116 Deferred compensation 336 310 Tax credits 2,269 2,777 Other 604 492 Deferred tax assets, before valuation allowance 31,072 21,290 Valuation allowance (1,407) (1,258) Deferred tax assets, net of valuation allowance 29,665 20,032 Deferred tax liabilities: Depreciation and amortization (25,886) (15,308) Partnership investments (271) (566) Prepaid expenses (390) (458) Deferred tax liabilities (26,547) (16,332) Net deferred tax assets $ 3,118 $ 3,700
Reconciliation of Unrecognized Tax Benefits	A reconciliation of the beginning and ending amount of unrecognized tax benefits excluding interest and penalties is as follows: October 1, October 2, (in thousands) Balance at beginning of year $ 120 $ 102 Additions based on tax positions taken in current and prior years 39 18 Decreases based on tax positions taken in prior years — — Balance at end of year $ 159 $ 120

INCOME PER SHARE OF COMMON ST_2

INCOME PER SHARE OF COMMON STOCK (Tables)	12 Months Ended
	Oct. 01, 2022
Earnings Per Share [Abstract]
Reconciliation of Shares	A reconciliation of shares used in calculating earnings per basic and diluted share follows: Year Ended October 1, October 2, (in thousands) Basic 3,556 3,516 Effect of dilutive securities: Stock options 47 88 Diluted 3,603 3,604

BUSINESS AND SUMMARY OF SIGNI_3

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	12 Months Ended
	Oct. 01, 2022 USD ($) restaurant segment	Oct. 02, 2021 USD ($)
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Number of operating segments | segment	1
Number of reportable segments | segment	1
Asset impairment charges | $	$ 0
Goodwill impairment losses | $	0	$ 0
Revenues | $	183,674,000	131,870,000
Unearned revenue | $	5,534,000	4,988,000
Liability for gift cards | $	309,000	252,000
Catering Services
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Revenues | $	11,812,000	3,240,000
Unearned revenue | $	$ 5,534,000	$ 4,988,000
Building and Building Improvements
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Property and equipment, useful life	40 years
New York City
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Number of restaurants	4
Washington D.C.
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Number of restaurants	1
Las Vegas Nevada
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Number of restaurants	5
Atlantic City
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Number of restaurants	1
Florida
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Number of restaurants	4
Alabama
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Number of restaurants	2
Las Vegas | New York New York Hotel and Casino Resort
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Number of restaurants	4
Minimum | Furniture and Fixtures
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Property and equipment, useful life	3 years
Minimum | Leasehold Improvements
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Property and equipment, useful life	5 years
Maximum | Furniture and Fixtures
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Property and equipment, useful life	7 years
Maximum | Leasehold Improvements
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Property and equipment, useful life	30 years
Noncompete agreements and other - 5-10 years
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Intangible asset, useful life	5 years
Noncompete agreements and other - 5-10 years | Minimum
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Intangible asset, useful life	5 years
Noncompete agreements and other - 5-10 years | Maximum
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Intangible asset, useful life	10 years
Accounts Receivable | Two Hotel Operators | Customer Concentration Risk
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Concentration risk		37%
Accounts Receivable | One Hotel Operator | Customer Concentration Risk
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Concentration risk	54%
Cost of Goods and Service Benchmark | Top Vendor | Supplier Concentration Risk
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Concentration risk		21%
Cost of Goods and Service Benchmark | Two Vendors | Supplier Concentration Risk
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Concentration risk	20%
Restaurants and Bars
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Number of restaurants	17
Fast Food Concepts and Catering Operations
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Number of restaurants	16
Food Court | Las Vegas | New York New York Hotel and Casino Resort
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Number of restaurants	6
Planet Hollywood Resort and Casino | Las Vegas
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Number of restaurants	1
Fast Food Concept | Tampa | Foxwoods Resort Casino
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Number of restaurants	4
Fast Food Concept | Hollywood | Hard Rock Hotel and Casino
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Number of restaurants	6
Oyster House | Alabama
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Number of restaurants	2
Oyster House | Gulf Shores Alabama
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Number of restaurants	1
Oyster House | Spanish Fort Alabama
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items]
Number of restaurants	1

CONSOLIDATION OF VARIABLE INT_3

CONSOLIDATION OF VARIABLE INTEREST ENTITIES - Narrative (Details)	Oct. 01, 2022 variableInterestEntity
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of VIEs with primary benefits	3

CONSOLIDATION OF VARIABLE INT_4

CONSOLIDATION OF VARIABLE INTEREST ENTITIES - Schedule of Variable Interest Entities (Details) - USD ($) $ in Thousands	Oct. 01, 2022	Oct. 02, 2021
Variable Interest Entity [Line Items]
Cash and cash equivalents	$ 23,439	$ 19,171
Accounts receivable	3,185	4,113
Inventories	3,707	3,510
Prepaid and refundable income taxes	1,778	3,896
Prepaid expenses and other current assets	1,523	3,205
Fixed assets - net	34,682	36,174
Operating lease right-of-use assets - net	101,720	56,336
Other assets	2,524	2,270
TOTAL ASSETS	209,534	161,216
Accounts payable - trade	4,466	4,886
Accrued expenses and other current liabilities	16,312	13,679
Current portion of operating lease liabilities	7,530	6,165
Current portion of notes payable	6,575	6,973
Operating lease liabilities, less current portion	97,444	52,552
Notes payable, less current portion	17,089	25,509
TOTAL LIABILITIES	149,416	109,764
Equity of variable interest entities	318	1,040
Total liabilities and equity	209,534	161,216
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Cash and cash equivalents	834	785
Accounts receivable	140	358
Inventories	38	35
Prepaid and refundable income taxes	278	278
Prepaid expenses and other current assets	17	277
Due from Ark Restaurants Corp. and affiliates	400	187
Fixed assets - net	212	218
Operating lease right-of-use assets - net	2,076	2,342
Other assets	11	82
TOTAL ASSETS	4,006	4,562
Accounts payable - trade	135	213
Accrued expenses and other current liabilities	417	374
Current portion of operating lease liabilities	272	249
Current portion of notes payable	0	95
Operating lease liabilities, less current portion	1,921	2,193
Notes payable, less current portion	0	101
TOTAL LIABILITIES	2,745	3,225
Equity of variable interest entities	1,261	1,337
Total liabilities and equity	$ 4,006	$ 4,562

RECENT RESTAURANT EXPANSION A_3

RECENT RESTAURANT EXPANSION AND OTHER DEVELOPMENTS - Narrative (Details) $ in Thousands		12 Months Ended
	Dec. 01, 2020 USD ($) extensionOption	Oct. 01, 2022 USD ($)	Oct. 02, 2021 USD ($)	Jan. 26, 2021
Business Acquisition [Line Items]
Notes payable		$ 23,729	$ 32,596
Cost method investment, ownership percent				5%
Blue Moon Fish Company
Business Acquisition [Line Items]
Consideration	$ 2,820
Cash paid for acquisition	$ 1,820
Debt instrument term	4 years
Notes payable	$ 1,000	587	$ 827
Interest rate	5%
Number of renewal terms | extensionOption	4
Lease renewal term	5 years
Annual rent payments	$ 360
Increase in rent	15%
Revenues of acquiree since acquisition		5,929
Income of acquiree since acquisition		$ 981

RECENT RESTAURANT EXPANSION A_4

RECENT RESTAURANT EXPANSION AND OTHER DEVELOPMENTS - Schedule of Assets Acquired (Details) - USD ($) $ in Thousands	Oct. 01, 2022	Oct. 02, 2021	Dec. 01, 2020	Oct. 03, 2020
Business Acquisition [Line Items]
Goodwill	$ 17,440	$ 17,440		$ 15,570
Blue Moon Fish Company
Business Acquisition [Line Items]
Cash			$ 3
Inventory			39
Security deposit			30
Trademarks			500
Non-compete agreement			380
Goodwill			1,870
Liabilities assumed			(2)
Fair value of assets acquired			$ 2,820

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	12 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Jul. 21, 2022	Jun. 24, 2022	Apr. 08, 2022	Jan. 26, 2021
Business Acquisition [Line Items]
Shares - Basic (in shares)	3,556	3,516
Shares - Diluted (in shares)	3,603	3,604
Cost method investment, ownership percent						5%
Total future lease payments	$ 150,042
Gallaghers Steakhouse | Minimum
Business Acquisition [Line Items]
Total future lease payments					$ 1,500
America | Minimum
Business Acquisition [Line Items]
Total future lease payments				$ 4,000
Village Eateries | Minimum
Business Acquisition [Line Items]
Total future lease payments			$ 3,500
Blue Moon Fish Company
Business Acquisition [Line Items]
Total revenues		$ 132,547
Net income (loss)		$ 12,926
Net income (loss) per share - basic (in dollars per share)		$ 3.68
Net income (loss) per share - diluted (in dollars per share)		$ 3.59
Shares - Basic (in shares)		3,516
Shares - Diluted (in shares)		3,604

RECENT RESTAURANT DISPOSITIONS

RECENT RESTAURANT DISPOSITIONS (Details) - Clyde Frazier's Wine and Dine $ in Thousands	12 Months Ended
	Oct. 02, 2021 USD ($)
RECENT RESTAURANT DISPOSITIONS (Details) [Line Items]
Gain on closure of Clyde Frazier's Wine and Dine	$ 810
Lease cost	318
Impairment of intangible assets	69
Security deposit	121
Right-of-use asset	1,318
Operating lease liability	$ 1,318

INVESTMENT IN AND RECEIVABLE _2

INVESTMENT IN AND RECEIVABLE FROM NEW MEADOWLANDS RACETRACK (Details) - USD ($) $ in Thousands					1 Months Ended	12 Months Ended
	Feb. 07, 2017	Apr. 25, 2014	Nov. 19, 2013	Mar. 12, 2013	Jul. 31, 2021	Oct. 01, 2022	Oct. 02, 2021	Oct. 03, 2015	Jul. 13, 2016
INVESTMENT IN AND RECEIVABLE FROM NEW MEADOWLANDS RACETRACK (Details) [Line Items]
Payments to acquire business						$ 0	$ 1,817
Other income						$ 421	0
Ark Meadowlands LLC
INVESTMENT IN AND RECEIVABLE FROM NEW MEADOWLANDS RACETRACK (Details) [Line Items]
Ownership percentage by parent						97%
Profit participation percentage						5%
Due from related parties						$ 22	0
New Meadowlands Racetrack LLC
INVESTMENT IN AND RECEIVABLE FROM NEW MEADOWLANDS RACETRACK (Details) [Line Items]
Payments to acquire business				$ 4,200
Ownership percentage			7.40%
Payments to acquire additional interest in subsidiaries	$ 222		$ 464					$ 222
Long-term investments	$ 5,108
Other income						421
Meadowlands Newmark LLC
INVESTMENT IN AND RECEIVABLE FROM NEW MEADOWLANDS RACETRACK (Details) [Line Items]
Ownership percentage			11.60%	63.70%
Maximum loss		$ 1,500
Interest rate		3%
Additional loan									$ 200
Periodic payment					$ 500
Principal and accrued interest						$ 1,357	$ 1,317

FIXED ASSETS - Property, plant

FIXED ASSETS - Property, plant and equipment (Details) - USD ($) $ in Thousands	Oct. 01, 2022	Oct. 02, 2021
Property, Plant and Equipment [Abstract]
Land and building	$ 18,033	$ 18,033
Leasehold improvements	43,054	42,200
Furniture, fixtures and equipment	36,554	36,143
Construction in progress	355	38
Fixed Assets - Gross	97,996	96,414
Less: accumulated depreciation and amortization	63,314	60,240
Fixed Assets - Net	$ 34,682	$ 36,174

FIXED ASSETS (Details)

FIXED ASSETS (Details) - USD ($)	12 Months Ended
	Oct. 01, 2022	Oct. 02, 2021
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 4,193,000	$ 3,577,000
Asset impairment charges	$ 0
Clyde Frazier's Wine and Dine
Property, Plant and Equipment [Line Items]
Asset impairment charges		$ 69,000

INTANGIBLE ASSETS, GOODWILL A_3

INTANGIBLE ASSETS, GOODWILL AND TRADEMARKS - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 01, 2022	Oct. 02, 2021
Finite-Lived Intangible Assets [Line Items]
Intangible Assets - Gross	$ 2,628	$ 2,628
Less accumulated amortization	2,356	2,252
Intangible Assets - Net	272	376
Purchased leasehold rights - fully amortized
Finite-Lived Intangible Assets [Line Items]
Intangible Assets - Gross	1,995	1,995
Noncompete agreements and other - 5-10 years
Finite-Lived Intangible Assets [Line Items]
Intangible Assets - Gross	$ 633	$ 633
Intangible asset, useful life	5 years
Noncompete agreements and other - 5-10 years | Minimum
Finite-Lived Intangible Assets [Line Items]
Intangible asset, useful life	5 years
Noncompete agreements and other - 5-10 years | Maximum
Finite-Lived Intangible Assets [Line Items]
Intangible asset, useful life	10 years

INTANGIBLE ASSETS, GOODWILL A_4

INTANGIBLE ASSETS, GOODWILL AND TRADEMARKS - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 01, 2022	Oct. 02, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 104	$ 53
Amortization expense, 2023	85
Amortization expense, 2024	85
Amortization expense, 2025	85
Amortization expense, 2026	$ 17

INTANGIBLE ASSETS, GOODWILL A_5

INTANGIBLE ASSETS, GOODWILL AND TRADEMARKS - Schedule of Changes in the Carrying Amount of Goodwill and Trademarks (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 01, 2022	Oct. 02, 2021
Goodwill [Abstract]
Beginning balance	$ 17,440	$ 15,570
Acquired during the year	0	1,870
Ending balance	17,440	17,440
Trademarks
Trademarks [Abstract]
Beginning balance	4,220	3,720
Acquired during the year	0	500
Ending balance	$ 4,220	$ 4,220

ACCRUED EXPENSES AND OTHER CU_3

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES - Schedule of accrued expenses and other current liabilities (Details) - USD ($) $ in Thousands	Oct. 01, 2022	Oct. 02, 2021
Payables and Accruals [Abstract]
Sales tax payable	$ 916	$ 910
Accrued wages and payroll related costs	5,517	4,758
Customer advance deposits	5,534	4,988
Accrued occupancy and other operating expenses	4,345	3,023
Accrued expenses and other current liabilities	$ 16,312	$ 13,679

LEASES - Narrative (Details)

LEASES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 02, 2021	Oct. 01, 2022
Lessee, Lease, Description [Line Items]
Operating lease, reductions in rent expense	$ 800
Minimum
Lessee, Lease, Description [Line Items]
Lease term		10 years
Maximum
Lessee, Lease, Description [Line Items]
Lease term		25 years

LEASES - Lease Expenses (Detail

LEASES - Lease Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 01, 2022	Oct. 02, 2021
Lease, Lease Expenses [Abstract]
Operating lease expense - occupancy expense	$ 10,442	$ 7,557
Occupancy lease expense - general and administrative expenses	461	396
Variable lease expense	6,498	2,970
Total lease expense	17,401	10,923
Lease, Supplemental Cash Flow [Abstract]
Operating cash flows related to operating leases	14,633	10,485
ROU assets obtained in exchange for new operating lease liabilities	$ 53,530	$ 8,712
Lease, Weighted Average Remaining Lease Term And Discount Rate [Abstract]
Weighted Average Remaining Lease Term	12 years 6 months
Weighted Average Discount Rate	6.10%

LEASES - Maturities of Lease Li

LEASES - Maturities of Lease Liabilities (Details) $ in Thousands	Oct. 01, 2022 USD ($)
Leases [Abstract]
September 30, 2023	$ 13,695
September 28, 2024	14,023
September 27, 2025	12,995
October 3, 2026	11,867
October 2, 2027	11,547
Thereafter	85,915
Total future lease payments	150,042
Less imputed interest	(45,068)
Present value of lease liabilities	$ 104,974

NOTES PAYABLE - Schedule of Lon

NOTES PAYABLE - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Oct. 01, 2022	Oct. 02, 2021	Dec. 01, 2020
NOTES PAYABLE - BANK (Details) - Schedule of Long-term debt [Line Items]
Notes payable	$ 23,729	$ 32,596
Less: Current maturities	(6,575)	(6,973)
Less: Unamortized deferred financing costs	(65)	(114)
Long-term debt	17,089	25,509
Revolving Credit Facility
NOTES PAYABLE - BANK (Details) - Schedule of Long-term debt [Line Items]
Notes payable	7,166	9,166
The Rustic Inn
NOTES PAYABLE - BANK (Details) - Schedule of Long-term debt [Line Items]
Notes payable	3,187	3,473
Shuckers Inc
NOTES PAYABLE - BANK (Details) - Schedule of Long-term debt [Line Items]
Notes payable	3,655	3,995
Oyster House
NOTES PAYABLE - BANK (Details) - Schedule of Long-term debt [Line Items]
Notes payable	2,873	3,492
JB's On The Beach
NOTES PAYABLE - BANK (Details) - Schedule of Long-term debt [Line Items]
Notes payable	3,750	4,750
Sequoia Renovation
NOTES PAYABLE - BANK (Details) - Schedule of Long-term debt [Line Items]
Notes payable	1,714	2,171
Blue Moon Fish Company
NOTES PAYABLE - BANK (Details) - Schedule of Long-term debt [Line Items]
Notes payable	587	827	$ 1,000
Paycheck Protection Program Loan
NOTES PAYABLE - BANK (Details) - Schedule of Long-term debt [Line Items]
Notes payable	$ 797	$ 4,722

NOTES PAYABLE - Narrative (Deta

NOTES PAYABLE - Narrative (Details)

3 Months Ended

12 Months Ended

Jul. 26, 2021 USD ($)

Feb. 15, 2021 USD ($) installment notesPayable

May 15, 2019 USD ($) installment

Nov. 30, 2016 USD ($) installment

Oct. 22, 2015 USD ($) installment

Feb. 24, 2014 USD ($) installment

Feb. 25, 2013 USD ($) installment

Apr. 03, 2021 USD ($)

Oct. 01, 2022 USD ($) installment

Oct. 02, 2021 USD ($)

Oct. 03, 2020 USD ($)

Jun. 01, 2018 USD ($)

NOTES PAYABLE - BANK (Details) [Line Items]

Notes payable

$ 23,729,000

$ 32,596,000

Debt issuance costs

271,000

Amortization

48,000

60,000

Forgiveness of PPP loans

2,420,000

10,400,000

PPP loans, interest forgiven

65,000

84,000

Repayments of notes payable

4,941,000

3,374,000

The Rustic Inn

NOTES PAYABLE - BANK (Details) [Line Items]

Notes payable

3,187,000

3,473,000

Shuckers Inc

NOTES PAYABLE - BANK (Details) [Line Items]

Notes payable

3,655,000

3,995,000

Oyster House

NOTES PAYABLE - BANK (Details) [Line Items]

Notes payable

2,873,000

3,492,000

JB's On The Beach

NOTES PAYABLE - BANK (Details) [Line Items]

Notes payable

3,750,000

4,750,000

Sequoia Renovation

NOTES PAYABLE - BANK (Details) [Line Items]

Notes payable

1,714,000

2,171,000

Paycheck Protection Program Loan

NOTES PAYABLE - BANK (Details) [Line Items]

Basis spread on variable rate

1%

Notes payable

797,000

4,722,000

Paycheck protection program loan

$ 14,995,000

Forgiveness of PPP loans

797,000

Long-term debt, current

797,000

2,032,000

Repayments of notes payable

1,571,000

68,000

Paycheck Protection Program Loan | Variable Interest Entity, Primary Beneficiary

NOTES PAYABLE - BANK (Details) [Line Items]

Paycheck protection program loan

$ 111,000

Bank Hapoalim B.M. | The Rustic Inn

NOTES PAYABLE - BANK (Details) [Line Items]

Periodic payment

$ 71,333

$ 134,722

$ 83,333

Basis spread on variable rate

3.50%

Face amount

$ 3,000,000

Number of installments | installment

60

36

Frequency of periodic payment

monthly

monthly

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]

Periodic payment

$ 83,333

Basis spread on variable rate

3.50%

Face amount

$ 5,000,000

Number of installments | installment

60

Frequency of periodic payment

monthly

Date of first required payment

Nov. 22, 2015

Revolving Credit Facility

NOTES PAYABLE - BANK (Details) [Line Items]

Notes payable

$ 7,166,000

$ 9,166,000

Revolving Credit Facility | Bank Hapoalim B.M.

NOTES PAYABLE - BANK (Details) [Line Items]

Current borrowing capacity

$ 10,000,000

Maximum borrowing capacity

$ 35,000,000

Borrowings under credit facility

$ 9,666,000

Periodic payment

500,000

Balloon payment to be paid

$ 2,166,000

Basis spread on variable rate

3.50%

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

NOTES PAYABLE - BANK (Details) [Line Items]

Periodic payment

$ 133,273

Basis spread on variable rate

3.50%

Face amount

$ 8,000,000

Number of installments | installment

60

Frequency of periodic payment

monthly

Date of first required payment

Jan. 01, 2017

Revolving Credit Facility | Bank Hapoalim B.M. | JB's On The Beach

NOTES PAYABLE - BANK (Details) [Line Items]

Periodic payment

$ 250,000

Balloon payment to be paid

$ 1,250,000

Basis spread on variable rate

3.50%

Face amount

$ 7,000,000

Number of installments | installment

23

Date of first required payment

Sep. 01, 2019

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

NOTES PAYABLE - BANK (Details) [Line Items]

Periodic payment

$ 114,286

Balloon payment to be paid

$ 571,429

Basis spread on variable rate

3.50%

Face amount

$ 3,200,000

Number of installments | installment

23

Date of first required payment

Sep. 01, 2019

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

NOTES PAYABLE - BANK (Details) [Line Items]

Balloon payment to be paid

$ 2,474,000

Basis spread on variable rate

3.50%

Face amount

$ 4,400,000

Number of installments | installment

27

Frequency of periodic payment

quarterly

Date of first required payment

Sep. 01, 2018

Additional borrowing capacity

$ 2,783,333

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

NOTES PAYABLE - BANK (Details) [Line Items]

Periodic payment

85,000

Balloon payment to be paid

$ 2,805,000

Basis spread on variable rate

3.50%

Face amount

$ 5,100,000

Number of installments | installment

27

Frequency of periodic payment

quarterly

Date of first required payment

Sep. 01, 2018

Additional borrowing capacity

$ 2,433,324

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

NOTES PAYABLE - BANK (Details) [Line Items]

Periodic payment

117,857

Balloon payment to be paid

$ 1,060,716

Basis spread on variable rate

3.50%

Face amount

$ 3,300,000

Number of installments | installment

19

Frequency of periodic payment

quarterly

Date of first required payment

Sep. 01, 2018

Number of notes | notesPayable

2

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

NOTES PAYABLE - BANK (Details) [Line Items]

Periodic payment

$ 36,667

Balloon payment to be paid

$ 1,210,000

Basis spread on variable rate

3.50%

Face amount

$ 2,200,000

Number of installments | installment

27

Date of first required payment

Sep. 01, 2018

NOTES PAYABLE - Notes Payable M

NOTES PAYABLE - Notes Payable Maturities Schedule (Details) - Notes Payable $ in Thousands	Oct. 01, 2022 USD ($)
NOTES PAYABLE - BANK (Details) - Schedule of Long-term debt [Line Items]
2023	$ 6,575
2024	4,495
2025	12,659
Long-term debt	23,729
BHBM
NOTES PAYABLE - BANK (Details) - Schedule of Long-term debt [Line Items]
2023	5,525
2024	4,229
2025	12,591
Long-term debt	22,345
PPP Loans
NOTES PAYABLE - BANK (Details) - Schedule of Long-term debt [Line Items]
2023	797
2024	0
2025	0
Long-term debt	797
Blue Moon Note
NOTES PAYABLE - BANK (Details) - Schedule of Long-term debt [Line Items]
2023	253
2024	266
2025	68
Long-term debt	$ 587

COMMITMENT AND CONTINGENCIES (D

COMMITMENT AND CONTINGENCIES (Details) $ in Thousands	May 01, 2018 plaintiff	Oct. 01, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Letters of credit | $		$ 542
Number of plaintiffs | plaintiff	2

STOCK OPTIONS - Narrative (Deta

STOCK OPTIONS - Narrative (Details) $ / shares in Units, $ in Thousands		12 Months Ended
	Mar. 15, 2022 shares	Oct. 01, 2022 USD ($) plan $ / shares shares	Oct. 02, 2021 USD ($) $ / shares shares
STOCK OPTIONS (Details) [Line Items]
Number of stock option plans | plan		2
Expiration period	10 years
Shares available for future grant (in shares) | shares	63,750	477,500	63,750
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized | shares	500,000
Grants in period, gross (in shares) | shares		22,500	110,750
Exercise price (in dollars per share) | $ / shares		$ 17.80	$ 10.65
Risk free interest rate, maximum		3.20%
Volatility rate		49.70%	37.10%
Dividend yield		4.20%	3%
Risk free interest rate, minimum			0.86%
Expected term		10 years	10 years
Stock-based compensation | $		$ 298	$ 280
Unrecognized compensation cost | $		543
Maximum amount of compensation paid under cash bonus plan | $		$ 1,000
Employee Stock Option
STOCK OPTIONS (Details) [Line Items]
Grants in period, gross (in shares) | shares		22,500
Exercise price (in dollars per share) | $ / shares		$ 17.80
Weighted average grant date fair value (in dollars per share) | $ / shares		$ 4.53
Grant date fair value | $		$ 102
Employee Stock Option | Exercise Price, One
STOCK OPTIONS (Details) [Line Items]
Grants in period, gross (in shares) | shares			110,500
Exercise price (in dollars per share) | $ / shares			$ 10.65
Weighted average grant date fair value (in dollars per share) | $ / shares			$ 2.22
Grant date fair value | $			$ 246
Tranche One | Employee Stock Option
STOCK OPTIONS (Details) [Line Items]
Exercisable percentage, grant date		25%
Tranche One | Employee Stock Option | Exercise Price, One
STOCK OPTIONS (Details) [Line Items]
Exercisable percentage, grant date			50%
Tranche Two | Employee Stock Option
STOCK OPTIONS (Details) [Line Items]
Exercisable percentage, grant date		25%
Tranche Two | Employee Stock Option | Exercise Price, One
STOCK OPTIONS (Details) [Line Items]
Exercisable percentage, grant date			50%
2010 Plan
STOCK OPTIONS (Details) [Line Items]
Expiration period		10 years
2016 Plan
STOCK OPTIONS (Details) [Line Items]
Expiration period		10 years

STOCK OPTIONS - Schedule of sto

STOCK OPTIONS - Schedule of stock options, activity (Details) - USD ($)	12 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Mar. 15, 2022
Shares
Outstanding, beginning of period (in shares)	596,476	626,500
Granted (in shares)	22,500	110,750
Exercised (in shares)	(48,851)	(49,149)
Canceled or expired (in shares)	(26,000)	(91,625)
Outstanding and expected to vest, end of period (in shares)	544,125	596,476
Outstanding and expected to vest, end of period (in shares)	302,125	246,976
Shares available for future grant (in shares)	477,500	63,750	63,750
Weighted Average Exercise Price
Outstanding, beginning of period (in dollars per share)	$ 19.21	$ 20.41
Granted (in dollars per share)	17.80	10.65
Exercised (in dollars per share)	14.40	14.40
Canceled or expired (in dollars per share)	18.27	19.64
Outstanding and expected to vest, end of period (in dollars per share)	19.63	19.21
Exercisable, end of period (in dollars per share)	$ 21.98	$ 20.33
Weighted Average Contractual Term
Outstanding	6 years 1 month 6 days	6 years 3 months 18 days
Exercisable	4 years 7 months 6 days
Aggregate Intrinsic Value
Outstanding and expected to vest, end of period	$ 840,000	$ 583,000
Exercisable, end of period	$ 0	$ 61,000

STOCK OPTIONS - Schedule of s_2

STOCK OPTIONS - Schedule of stock options, outstanding (Details) - $ / shares	12 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 03, 2020
Options Outstanding
Number of Shares (in shares)	544,125	596,476	626,500
Weighted Average Exercise Price (in dollars per share)	$ 19.63	$ 19.21	$ 20.41
Weighted Average Remaining Contractual Life	6 years 1 month 6 days
Options Exercisable
Number of Shares (in shares)	302,125	246,976
Weighted Average Exercise Price (in dollars per share)	$ 21.98	$ 20.33
Weighted Average Remaining contractual Life	4 years 7 months 6 days
Range of Exercise Prices - $10.65
Options Outstanding
Number of Shares (in shares)	103,500
Weighted Average Exercise Price (in dollars per share)	$ 10.65
Weighted Average Remaining Contractual Life	8 years 2 months 12 days
Options Exercisable
Number of Shares (in shares)	0
Weighted Average Exercise Price (in dollars per share)	$ 0
Weighted Average Remaining contractual Life	0 years
Range of Exercise Prices - $14.40
Options Outstanding
Number of Shares (in shares)	226,500
Weighted Average Exercise Price (in dollars per share)	$ 21.90
Weighted Average Remaining Contractual Life	8 years 2 months 12 days
Options Exercisable
Number of Shares (in shares)	113,250
Weighted Average Exercise Price (in dollars per share)	$ 21.90
Weighted Average Remaining contractual Life	8 years 2 months 12 days
Range of Exercise Prices - $21.90
Options Outstanding
Number of Shares (in shares)	137,625
Weighted Average Exercise Price (in dollars per share)	$ 22.50
Weighted Average Remaining Contractual Life	1 year 8 months 12 days
Options Exercisable
Number of Shares (in shares)	137,625
Weighted Average Exercise Price (in dollars per share)	$ 22.50
Weighted Average Remaining contractual Life	1 year 8 months 12 days
Range of Exercise Prices - $22.50
Options Outstanding
Number of Shares (in shares)	22,500
Weighted Average Exercise Price (in dollars per share)	$ 17.80
Weighted Average Remaining Contractual Life	10 years
Options Exercisable
Number of Shares (in shares)	0
Weighted Average Exercise Price (in dollars per share)	$ 0
Weighted Average Remaining contractual Life	0 years
Range of Exercise Prices - $19.61 - $22.30
STOCK OPTIONS (Details) - Schedule of stock options, outstanding [Line Items]
Range of exercise price, lower limit (in dollars per share)	$ 19.61
Range of exercise price, upper limit (in dollars per share)	$ 22.30
Options Outstanding
Number of Shares (in shares)	54,000
Weighted Average Exercise Price (in dollars per share)	$ 20.69
Weighted Average Remaining Contractual Life	6 years 3 months 18 days
Options Exercisable
Number of Shares (in shares)	51,250
Weighted Average Exercise Price (in dollars per share)	$ 20.81
Weighted Average Remaining contractual Life	6 years 3 months 18 days

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($)	12 Months Ended
	Oct. 01, 2022	Oct. 02, 2021
INCOME TAXES (Details) [Line Items]
Forgiveness of PPP loans	$ 2,420,000	$ 10,400,000
PPP loans, interest forgiven	65,000	84,000
Income tax benefit	1,360,000	3,766,000
Valuation allowance	1,407,000	1,258,000
Valuation allowance increase	149,000	845,000
Accrued interest and penalties	0	$ 0
General Business Credit carryforwards
INCOME TAXES (Details) [Line Items]
Tax credit carryforward	2,269,000
New York State Division of Taxation and Finance
INCOME TAXES (Details) [Line Items]
Operating loss carryforwards	26,966,000
New York City
INCOME TAXES (Details) [Line Items]
Operating loss carryforwards	$ 25,291,000

INCOME TAXES - Schedule of Prov

INCOME TAXES - Schedule of Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 01, 2022	Oct. 02, 2021
Current provision (benefit):
Federal	$ 817	$ (1,093)
State and local	49	77
Current provision (benefit)	866	(1,016)
Deferred provision (benefit):
Federal	173	946
State and local	409	1,251
Deferred provision (benefit)	582	2,197
Income tax provision (benefit)	$ 1,448	$ 1,181

INCOME TAXES - Schedule of Effe

INCOME TAXES - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 01, 2022	Oct. 02, 2021
Income Tax Disclosure [Abstract]
Provision at Federal statutory rate (21%)	$ 2,440	$ 3,240
State and local income taxes, net of tax benefits	275	433
Gain on forgiveness of PPP Loans	(432)	(1,974)
Tax credits	(998)	(741)
Income (loss) attributable to non-controlling interest	(188)	(287)
Changes in tax rates	22	33
Net operating loss carryback Federal rate benefit	0	(159)
Change in valuation allowance	149	845
Other	180	(209)
Income tax provision (benefit)	$ 1,448	$ 1,181

INCOME TAXES - Schedule of Defe

INCOME TAXES - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Oct. 01, 2022	Oct. 02, 2021
Deferred tax assets:
State net operating loss carryforwards	$ 5,293	$ 5,595
Lease liabilities	22,570	12,116
Deferred compensation	336	310
Tax credits	2,269	2,777
Other	604	492
Deferred tax assets, before valuation allowance	31,072	21,290
Valuation allowance	(1,407)	(1,258)
Deferred tax assets, net of valuation allowance	29,665	20,032
Deferred tax liabilities:
Depreciation and amortization	(25,886)	(15,308)
Partnership investments	(271)	(566)
Prepaid expenses	(390)	(458)
Deferred tax liabilities	(26,547)	(16,332)
Net deferred tax assets	$ 3,118	$ 3,700

INCOME TAXES - Summary of Incom

INCOME TAXES - Summary of Income Tax Contingencies (Details) - USD ($) $ in Thousands	12 Months Ended
	Oct. 01, 2022	Oct. 02, 2021
Reconciliation of Unrecognized Tax Benefits [Roll Forward]
Balance at beginning of year	$ 120	$ 102
Additions based on tax positions taken in current and prior years	39	18
Decreases based on tax positions taken in prior years	0	0
Balance at end of year	$ 159	$ 120

INCOME PER SHARE OF COMMON ST_3

INCOME PER SHARE OF COMMON STOCK - Schedule of calculation of numerator and denominator in earnings per share (Details) - shares shares in Thousands	12 Months Ended
	Oct. 01, 2022	Oct. 02, 2021
Earnings Per Share [Abstract]
Basic (in shares)	3,556	3,516
Effect of dilutive securities:
Stock options (in Shares)	47	88
Diluted (in Shares)	3,603	3,604

INCOME PER SHARE OF COMMON ST_4

INCOME PER SHARE OF COMMON STOCK - Narrative (Details) - $ / shares	12 Months Ended
	Oct. 01, 2022	Oct. 02, 2021
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from computation of earnings per share (in shares)	329,125	443,500
Minimum
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Exercise price of shares excluded from computation of earning per share (in dollars per share)	$ 20.18	$ 21.90
Maximum
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Exercise price of shares excluded from computation of earning per share (in dollars per share)	$ 22.50	$ 22.50

DIVIDENDS (Details)

DIVIDENDS (Details)	May 11, 2022 $ / shares
Earnings Per Share [Abstract]
Dividends (in dollars per share)	$ 0.125

RELATED PARTY TRANSACTIONS - Na

RELATED PARTY TRANSACTIONS - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	Oct. 01, 2022	May 11, 2022	Oct. 02, 2021
RELATED PARTY TRANSACTIONS (Details) [Line Items]
Due from employees	$ 440		$ 380
Dividends (in dollars per share)		$ 0.125
Minimum
RELATED PARTY TRANSACTIONS (Details) [Line Items]
Effective interest rate	3.05%		0.17%

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($)		1 Months Ended	3 Months Ended
	Nov. 09, 2022	Nov. 30, 2022	Oct. 01, 2022
SUBSEQUENT EVENTS (Details) [Line Items]
Dividends paid (in Dollars per share)			$ 0.25
Subsequent Event
SUBSEQUENT EVENTS (Details) [Line Items]
Dividends paid (in Dollars per share)	$ 0.125
Payments for postemployment		$ 500,000
Consulting fees		$ 200,000