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Subsequent Events | 9 Months Ended
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Sep. 26, 2020
Subsequent Events: |
Subsequent Events: | 14. Subsequent Events: ​ On October 14, 2020, the Company’s Board of Directors approved the payment of a $3.00 per share special cash dividend (the “2020 Special Dividend”) to shareholders of record at the close of business November 11, 2020, which will be paid on December 15, 2020. The 2020 Special Dividend will be approximately $11.2 million based on the current number of shares outstanding and is expected to be financed by cash on hand. ​ On October 14, 2020, the Line of Credit and Note Agreement were amended to, among other things, provide the consent of the lenders under these facilities for the declaration and payment of the 2020 Special Dividend and to amend the fixed charge covenant ratio definition to remove the effect of the 2020 Special Dividend. ​ The Company continues to closely monitoring the impact of the coronavirus (COVID-19) pandemic on all aspects of its business, including that of its franchisees and leasing customers. The COVID-19 pandemic adversely affected the Company’s financial results and business operations in the Company’s first nine months ended September 26, 2020, and uncertainties regarding the pandemic continue to result in economic disruptions including reduced operating levels at many of our franchisee’s stores. Governmental authorities in the United States and Canada have taken and may continue to take measures in order to combat the spread of disease including forced closures of retail stores and other business establishments from time to time. The full impact of the COVID-19 outbreak is unknown, resulting in a high degree of uncertainty for potentially extended periods of time. At this time, neither the duration nor scope of the disruption can be predicted, therefore, the negative impact on our financial position and operating results cannot be reasonably estimated. ​ ​

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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