secwatch.observer — SEC 8-K summary
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Issuer:     FLANIGANS ENTERPRISES INC (BDL)
CIK:        0000012040
Form:       8-K
Filed at:   2023-03-01T23:59:59+00:00
Accession:  0001174947-23-000280
Event type: regulatory
Sentiment:  negative
Materiality: 0.75
Item codes: 2.04, 3.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Flanigan's Enterprises receives NYSE delisting notice for late 10-Q; also breached loan covenant
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- NYSE American notified Flanigan's of noncompliance for late filing of Q1 FY2023 Form 10-Q (due Feb 21, 2023).
- As of Dec 31, 2022, Flanigan's breached Post-Distribution Fixed Charge Coverage Ratio (1.13 vs 1.15 minimum) on six institutional loans.
- Institutional lender waived the Dec 31, 2022 covenant breach and related remedies; future non-compliance could accelerate debt.
- Company has up to 12 months to cure filing delinquency; intends to file Form 10-Q as soon as reasonably practicable.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/12040/000117494723000280/0001174947-23-000280-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/12040/000117494723000280/form8k-29538_bdl.htm
  HTML page:      https://secwatch.observer/filing/0001174947-23-000280

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