INSURANCE PREMIUMS

9 Months Ended

Jul. 01, 2023

Insurance Premiums [Abstract]

INSURANCE PREMIUMS

(7) INSURANCE PREMIUMS

Prior to fiscal year 2023 we financed our annual insurance premiums. Due to higher interest rates, during the first quarter of our fiscal year 2023, for the policy year commencing December 30, 2022, we paid the premiums for property, general liability, excess liability and terrorist policies, totaling approximately $3.281 million, which includes coverage for our franchisees (which is $658,000), which are not included in our consolidated financial statements.

We paid the $3,281,000 annual premium amounts on January 9, 2023, which includes coverage for our franchisees which are not included in our consolidated financial statements.