Note 12 - Related Party Transactions

6 Months Ended

Mar. 31, 2020

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

1

2

. Related Party Transactions

The Company has ongoing relationships with related entities as noted below:

Chalet Properties,

LLC:

  The Company has

five

operating leases with Chalet Properties, LLC (Chalet).  Chalet is owned by the Company’s

four

non-independent Board members: Kemper Isely, Zephyr Isely, Heather Isely and Elizabeth Isely, and other related family members. Rent paid to Chalet was approximately

$0.2

million and

$0.3

million for the

three

months ended

March 31, 2020

and

2019,

respectively. Rent paid to Chalet was approximately

$0.5

million and

$0.6

million for the

six

months ended

March 31, 2020

and

2019,

respectively. 

Isely Family Land Trust LLC: 

The Company has

one

operating lease with the Isely Family Land Trust LLC (the Land Trust). The Land Trust is owned by the Isely Children’s Trust and by the Margaret A. Isely Family Trust. Rent paid to the Land Trust was approximately

$0.1

million for each of the

three

months ended

March 31, 2020

and

2019.

Rent paid to the Land Trust was approximately

$0.2

million for each of the

six

months ended

March 31, 2020

and

2019.

FTVC LLC: 

The Company has

one

operating lease for a store location with FTVC LLC, which is owned by the Company’s

four

non-independent Board members and other related family members. Rent paid to FTVC LLC was less than

$0.1

million for each of the

three

months ended

March 31, 2020

and

2019.

Rent paid to FTVC LLC was less than

$0.1

million for each of the

six

months ended

March 31, 2020

and

2019.