Annual report pursuant to Section 13 and 15(d)

Related Party Transactions

Related Party Transactions
12 Months Ended
Dec. 31, 2022
Related Party Transactions  
Related Party Transactions

Note 6 – Related Party Transactions

As of December 31, 2022 and 2021, the Company owned interests in the following companies, which directly or indirectly operate restaurants:

31.24% interest in Bagatelle NY LA Investors, LLC (“Bagatelle Investors”)
51.13% interest in Bagatelle Little West 12th, LLC (“Bagatelle NY”)

Bagatelle Investors is a holding company that has an interest in Bagatelle NY. The Company records its retained interests in Bagatelle Investors and Bagatelle NY as cost method investments as the Company has determined that it does not have ability to exercise significant influence over its investees, Bagatelle Investors and Bagatelle NY. As of December 31, 2022 and 2021, the Company has zero carrying value in these investments.

Net receivables from the Bagatelle entities included in due from related parties were $0.4 million as of December 31, 2022 and 2021. These receivables represent the Company’s maximum exposure to loss. Upon expiration of the lease in November 2020, the Company exited its contract with Bagatelle.