Related Party Transactions

6 Months Ended

Mar. 31, 2014

Related Party Transactions

Related Party Transactions

11. Related Party Transactions

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

Isely Family Land Trust LLC:  The Company has one operating lease for a store location with the Isely Family Land Trust LLC (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, 2014 and 2013.  Rent paid to the Land Trust was approximately $0.2 million for each of the six months ended March 31, 2014 and 2013.

Chalet Properties, LLC:  The Company has seven 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 $0.3 million for each of the three months ended March 31, 2014 and 2013.  Rent paid to Chalet was approximately $0.6 million for each of the six months ended March 31, 2014 and 2013.