Related Party Transactions
|12 Months Ended|
Dec. 31, 2021
|Related Party Transactions|
|Related Party Transactions||
Note 6 – Related Party Transactions
As of December 31, 2021 and 2020, the Company owned interests in the following companies, which directly or indirectly operate restaurants:
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, 2021 and 2020, 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, 2021 and 2020. 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.
The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef