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Note 14 - Superstorm Sandy | 3 Months Ended
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Jun. 30, 2013
Extraordinary and Unusual Items [Abstract] |
Extraordinary Items Disclosure [Text Block] | NOTE N – SUPERSTORM SANDY On October 29, 2012, Superstorm Sandy struck the Northeastern United States, which forced the closing of all of the Company-owned restaurants. Seventy-eight franchised restaurants, including 18 Branded Menu locations, were closed for varying periods of time, one of which remain closed. Our flagship Coney Island restaurant and our Coney Island Boardwalk restaurant remained closed as a result of the storm. Our Company-owned restaurant in Oceanside, New York was closed for approximately two weeks. The Coney Island Boardwalk restaurant sustained minor damage and re-opened on March 18, 2013. The Coney Island restaurant incurred significant damage and was re-opened on May 20, 2013. As a result of these damages, through March 31, 2013, the Company has incurred actual losses of approximately $1,340,000, inclusive of amounts written off of $449,000 related to destroyed or damaged property and equipment and $42,000 of unsalable inventories. As of June 30, 2013, the Company settled the property damage claim with its insurers and received payments of approximately $3.4 million, net of fees, from our insurer and used these proceeds towards the rebuilding of the restaurant. In connection with the settlement of the property and casualty loss, the Company recognized a gain of approximately $2.8 million during the quarter ended June 30, 2013. We believe that we maintain adequate insurance coverage under our business interruption insurance policy to recover lost profits and ongoing costs incurred during the period of closure. As of June 30, 2013, the Company has recorded approximately $745,000 for reimbursable on-going business expenses incurred while the restaurant was closed and is included in accounts and other receivables in the accompanying balance sheet as the realization of the claim for loss recovery has been deemed to be probable.

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- Definition The entire disclosure for extraordinary items. This may include information related to the determination or classification of an event or transaction meeting the criteria for unusual in nature and infrequent in occurrence. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 20 -Section 45 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6904752&loc=d3e14528-107780 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6904752&loc=d3e14571-107780 + Details
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