Leases |
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Leases |
Note 11 – Leases The components of lease expense for the period were as follows (in thousands):
The Company subleases one restaurant space and in 2019 subleased office space where it did not use the entire space for its operations. For the three months ended March 31, 2020 and 2019, sublease income was $0.1 million and $0.2 million, respectively, of which $0.1 million and $0.1 million, respectively, was from a related party, Bagatelle NY. Refer to Note 8 for details on transactions with this related party. The Company has entered into an operating lease for one future restaurant that has not yet commenced as of March 31, 2020. The aggregate future commitment related to this lease totals $4.8 million. The Company expects this lease to commence within the next twelve months and will have a lease term of 11 years. Supplemental cash flow information related to leases for the period was as follows (in thousands):
As of March 31, 2020, maturities of the Company’s operating lease liabilities are as follows (in thousands):
For the nine months remaining in 2020, the Company’s operating lease liabilities does not include future rent abatements that have been or will be negotiated with landlords. |