10-Q

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

S	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
£	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934

For the quarterly period ended December 28, 2013

Commission file number 1-09453

ARK RESTAURANTS CORP.

  (Exact name of registrant as specified in its charter)

New York	13-3156768
(State or other jurisdiction of	(I.R.S. Employer
incorporation or organization)	Identification No.)
85 Fifth Avenue, New York, New York	10003
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (212) 206-8800

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 (the “Exchange Act”) during the preceding 12 months (or for shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes S No £

Indicate by check mark whether the Registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit and post such files).

Yes S No £

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer £	Accelerated filer £
Non-accelerated filer £ (Do not check if a smaller reporting company)	Smaller Reporting Company S

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes £ No S

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date:

Class	Outstanding shares at February 6, 2014
(Common stock, $.01 par value)	3,257,395

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

On one or more occasions, we may make statements in this Quarterly Report on Form 10-Q regarding our assumptions, projections, expectations, targets, intentions or beliefs about future events. All statements, other than statements of historical facts, included or incorporated by reference herein relating to management’s current expectations of future financial performance, continued growth and changes in economic conditions or capital markets are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.

Words or phrases such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “predicts,” “projects,” “targets,” “will likely result,” “hopes,” “will continue” or similar expressions identify forward-looking statements. Forward-looking statements involve risks and uncertainties which could cause actual results or outcomes to differ materially from those expressed. We caution that while we make such statements in good faith and we believe such statements are based on reasonable assumptions, including without limitation, management’s examination of historical operating trends, data contained in records and other data available from third parties, we cannot assure you that our projections will be achieved. Factors that may cause such differences include: economic conditions generally and in each of the markets in which we are located, the amount of sales contributed by new and existing restaurants, labor costs for our personnel, fluctuations in the cost of food products, adverse weather conditions, changes in consumer preferences and the level of competition from existing or new competitors.

We have attempted to identify, in context, certain of the factors that we believe may cause actual future experience and results to differ materially from our current expectation regarding the relevant matter or subject area. In addition to the items specifically discussed above, our business, results of operations and financial position and your investment in our common stock are subject to the risks and uncertainties described in “Item 1A Risk Factors” in Part I of our Annual Report on Form 10-K for the fiscal year ended September 28, 2013 as may be updated by the information contained under the caption “Item 1A. Risk Factors” in Part II of this Quarterly Report on Form 10-Q.

From time to time, oral or written forward-looking statements are also included in our reports on Forms 10-K, 10-Q and 8-K, our Schedule 14A, our press releases and other materials released to the public. Although we believe that at the time made, the expectations reflected in all of these forward-looking statements are and will be reasonable; any or all of the forward-looking statements may prove to be incorrect. This may occur as a result of inaccurate assumptions or as a consequence of known or unknown risks and uncertainties. Many factors discussed in this Quarterly Report on Form 10-Q, certain of which are beyond our control, will be important in determining our future performance. Consequently, actual results may differ materially from those that might be anticipated from forward-looking statements. In light of these and other uncertainties, you should not regard the inclusion of a forward-looking statement in this Quarterly Report on Form 10-Q or other public communications that we might make as a representation by us that our plans and objectives will be achieved, and you should not place undue reliance on such forward-looking statements.

We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. However, your attention is directed to any further disclosures made on related subjects in our subsequent periodic reports filed with the Securities and Exchange Commission on Forms 10-K, 10-Q and 8-K and Schedule 14A.

Unless the context requires otherwise, references to “we,” “us,” “our,” “ARKR” and the “Company” refer specifically to Ark Restaurants Corp., and its subsidiaries, partnerships, variable interest entities and predecessor entities.

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Part I. Financial Information

Item 1. Consolidated Condensed Financial Statements

ARK RESTAURANTS CORP. AND SUBSIDIARIES

CONSOLIDATED CONDENSED BALANCE SHEETS

(In Thousands, Except Per Share Amounts)

	December 28, 2013			September 28, 2013
ASSETS
CURRENT ASSETS:
Cash and cash equivalents (includes $634 at December 28, 2013 and $637 at September 28, 2013 related to VIEs)	$	7,460		$	8,748
Accounts receivable (includes $338 at December 28, 2013 and $317 at September 28, 2013 related to VIEs)		2,063			2,712
Employee receivables		455			346
Inventories (includes $16 at December 28, 2013 and September 28, 2013 related to VIEs)		1,611			1,579
Prepaid and refundable income taxes (includes $163 at December 28, 2013 and September 28, 2013 related to VIEs)		208			567
Prepaid expenses and other current assets (includes $12 at December 28, 2013 and $13 at September 28, 2013 related to VIEs)		1,069			1,038
Current portion of note receivable		217			226
Total current assets		13,083			15,216
FIXED ASSETS - Net (includes $77 at December 28, 2013 and $89 at September 28, 2013 related to VIEs)		24,654			25,017
NOTE RECEIVABLE, LESS CURRENT PORTION		745			774
INTANGIBLE ASSETS - Net		11			13
GOODWILL		4,813			4,813
TRADEMARKS		721			721
DEFERRED INCOME TAXES		4,808			4,806
OTHER ASSETS (includes $71 at December 28, 2013 and September 28, 2013 related to VIEs)		6,068			5,098
TOTAL ASSETS	$	54,903		$	56,458
LIABILITIES AND EQUITY
CURRENT LIABILITIES:
Accounts payable - trade (includes $61 at December 28, 2013 and $70 at September 28, 2013 related to VIEs)	$	1,869		$	2,758
Accrued expenses and other current liabilities (includes $368 at December 28, 2013 and $140 at September 28, 2013 related VIEs)		9,300			9,275
Dividend payable		814			814
Current portion of notes payable		1,974			2,063
Total current liabilities		13,957			14,910
OPERATING LEASE DEFERRED CREDIT (includes $60 at December 28, 2013 related to VIEs)		4,509			4,606
NOTES PAYABLE, LESS CURRENT PORTION		1,167			1,594
TOTAL LIABILITIES		19,633			21,110
COMMITMENTS AND CONTINGENCIES
EQUITY:
Common stock, par value $.01 per share - authorized, 10,000 shares; issued, 4,613 shares at at December 28, 2013 and 4,610 shares at September 28, 2013; outstanding, 3,257 shares at December 28, 2013 and 3,254 shares at September 28, 2013		46			46
Additional paid-in capital		23,104			22,978
Retained earnings		22,699			22,950
		45,849			45,974
Less treasury stock, at cost, of 1,356 shares at December 28, 2013 and September 28, 2013		(13,220	)		(13,220	)
Total Ark Restaurants Corp. shareholders’ equity		32,629			32,754
NON-CONTROLLING INTERESTS		2,641			2,594
TOTAL EQUITY		35,270			35,348
TOTAL LIABILITIES AND EQUITY	$	54,903		$	56,458

See notes to consolidated condensed financial statements.

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ARK RESTAURANTS CORP. AND SUBSIDIARIES

CONSOLIDATED CONDENSED STATEMENTS OF INCOME

(In Thousands, Except Per Share Amounts)

	13 Weeks Ended
	December 28, 2013			December 29, 2012
REVENUES:
Food and beverage sales	$	31,756		$	31,029
Other revenue		382			307
Total revenues		32,138			31,336
COSTS AND EXPENSES:
Food and beverage cost of sales		7,854			7,749
Payroll expenses		10,478			10,845
Occupancy expenses		4,401			4,535
Other operating costs and expenses		4,207			4,339
General and administrative expenses		2,850			2,410
Depreciation and amortization		1,147			1,176
Total costs and expenses		30,937			31,054
OPERATING INCOME		1,201			282
OTHER (INCOME) EXPENSE:
Interest expense		19			—
Interest income		(7	)		—
Other income, net		(66	)		(79	)
Total other income, net		(54	)		(79	)
INCOME BEFORE PROVISION FOR INCOME TAXES		1,255			361
Provision for income taxes		399			114
CONSOLIDATED NET INCOME		856			247
Net income attributable to non-controlling interests		(293	)		(239	)
NET INCOME ATTRIBUTABLE TO ARK RESTAURANTS CORP.	$	563		$	8
NET INCOME PER ARK RESTAURANTS CORP. COMMON SHARE:
Basic	$	0.17		$	0.00
Diluted	$	0.17		$	0.00
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:
Basic		3,256			3,245
Diluted		3,400			3,322

See notes to consolidated condensed financial statements.

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ARK RESTAURANTS CORP. AND SUBSIDIARIES

CONSOLIDATED CONDENSED STATEMENTS OF CHANGES IN EQUITY

FOR THE 13 WEEKS ENDED DECEMBER 28, 2013 AND DECEMBER 29, 2012

(In Thousands)

	Common Stock				Additional Paid-In			Retained			Treasury			Total Ark Restaurants Corp. Shareholders’			Non- controlling			Total
	Shares		Amount		Capital			Earnings			Stock			Equity			Interests			Equity
BALANCE - September 29, 2012		4,601	$	46	$	23,410		$	22,372		$	(13,220	)	$	32,608		$	4,179		$	36,787
Net income		—		—		—			8			—			8			239			247
Purchase of member interests in subsidiary		—		—		(2,685	)		—			—			(2,685	)		(280	)		(2,965	)
Tax benefit of purchase of member interests in subsidiary		—		—		1,020			—			—			1,020			—			1,020
Stock-based compensation		—		—		80			—			—			80			—			80
Distributions to non-controlling interests		—		—		—			—			—			—			(600	)		(600	)
Payment of dividends - $0.25 per share		—		—		—			(811	)		—			(811	)		—			(811	)
BALANCE - December 29, 2012		4,601	$	46	$	21,825		$	21,569		$	(13,220	)	$	30,220		$	3,538		$	33,758
BALANCE - September 28, 2013		4,610	$	46	$	22,978		$	22,950		$	(13,220	)	$	32,754		$	2,594		$	35,348
Net income		—		—					563			—			563			293			856
Exercise of stock options		3		—		38			—			—			38			—			38
Tax benefit on exercise of stock options		—		—		8			—			—			8			—			8
Stock-based compensation		—		—		80			—			—			80			—			80
Distributions to non-controlling interests		—		—		—			—			—			—			(246	)		(246	)
Payment of dividends - $0.25 per share		—		—		—			(814	)		—			(814	)		—			(814	)
BALANCE - December 28, 2013		4,613	$	46	$	23,104		$	22,699		$	(13,220	)	$	32,629		$	2,641		$	35,270

See notes to consolidated condensed financial statements.

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ARK RESTAURANTS CORP. AND SUBSIDIARIES

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS

(In Thousands)

	13 Weeks Ended
	December 28, 2013			December 29, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:
Consolidated net income	$	856		$	247
Adjustments to reconcile consolidated net income to net cash provided by operating activities:
Loss on closure of restaurants		—			256
Deferred income taxes		(2	)		—
Stock-based compensation		80			80
Depreciation and amortization		1,147			1,176
Operating lease deferred credit		(97	)		(85	)
Changes in operating assets and liabilities:
Accounts receivable		649			1,143
Inventories		(32	)		(62	)
Prepaid, refundable and accrued income taxes		359			127
Prepaid expenses and other current assets		(31	)		185
Other assets		(6	)		—
Accounts payable - trade		(889	)		(423	)
Accrued expenses and other liabilities		25			(1,140	)
Net cash provided by operating activities		2,059			1,504
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of fixed assets		(782	)		(409	)
Loans and advances made to employees		(151	)		(35	)
Payments received on employee receivables		42			35
Payments received on note receivable		38			—
Purchase of member interests in subsidiary		—			(2,965	)
Purchase of member interest in New Meadowlands Racetrack LLC		(464	)		—
Initial payment on purchase of The Rustic Inn		(500	)		—
Net cash used in investing activities		(1,817	)		(3,374	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Principal payments on notes payable		(516	)		(88	)
Dividends paid		(814	)		(811	)
Proceeds from issuance of stock upon exercise of stock options		38			—
Excess tax benefits related to stock-based compensation		8			—
Distributions to non-controlling interests		(246	)		(600	)
Net cash used in financing activities		(1,530	)		(1,499	)
NET DECREASE IN CASH AND CASH EQUIVALENTS		(1,288	)		(3,369	)
CASH AND CASH EQUIVALENTS, Beginning of period		8,748			8,705
CASH AND CASH EQUIVALENTS, End of period	$	7,460		$	5,336
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid during the period for:
Interest	$	19		$	—
Income taxes	$	34		$	51
Non-cash investing activity:
Tax benefit of purchase of member interests in subsidiary	$	—		$	1,020
Non-cash financing activity:
Accrued dividend	$	814		$	—

See notes to consolidated condensed financial statements.

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ARK RESTAURANTS CORP. AND SUBSIDIARIES

NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS

December 28, 2013

(Unaudited)

1. CONSOLIDATED CONDENSED FINANCIAL STATEMENTS

The consolidated and condensed balance sheet as of September 28, 2013, which has been derived from audited financial statements included in the Form 10-K, and the unaudited interim consolidated and condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). All adjustments that, in the opinion of management, are necessary for a fair presentation for the periods presented have been reflected as required by Regulation S-X, Rule 10-01. Such adjustments are of a normal, recurring nature. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. These consolidated condensed financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s annual report on Form 10-K for the year ended September 28, 2013. The results of operations for interim periods are not necessarily indicative of the operating results to be expected for the full year or any other interim period.

PRINCIPLES OF CONSOLIDATION — The consolidated condensed interim financial statements include the accounts of Ark Restaurants Corp. and all of its wholly-owned subsidiaries, partnerships and other entities in which it has a controlling interest. Also included in the consolidated condensed interim financial statements are certain variable interest entities (“VIEs”). All significant intercompany balances and transactions have been eliminated in consolidation.

SEASONALITY — The Company has substantial fixed costs that do not decline proportionally with sales. The first and second fiscal quarters, which include the winter months, usually reflect lower customer traffic than in the third and fourth fiscal quarters. In addition, sales in the third and fourth fiscal quarters can be adversely affected by inclement weather due to the significant amount of outdoor seating at the Company’s restaurants.

FAIR VALUE OF FINANCIAL INSTRUMENTS — The carrying amount of cash and cash equivalents, receivables, accounts payable and accrued expenses approximate fair value due to the immediate or short-term maturity of these financial instruments. The fair values of notes receivable and payable are determined using current applicable rates for similar instruments as of the balance sheet date and approximates the carrying value of such debt.

CASH AND CASH EQUIVALENTS — Cash and cash equivalents include cash on hand, deposits with banks and highly liquid investments generally with original maturities of three months or less. Outstanding checks in excess of account balances, typically vendor payments, payroll and other contractual obligations disbursed after the last day of a reporting period are reported as a current liability in the accompanying consolidated condensed balance sheets.

CONCENTRATIONS OF CREDIT RISK — Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. The Company reduces credit risk by placing its cash and cash equivalents with major financial institutions with high credit ratings. At times, such amounts may exceed Federally insured limits. The concentration of credit risk with respect to accounts receivable is generally limited due to the short payment terms extended by the company and the number of customers comprising the company’s customer base.

For the 13-week period ended December 28, 2013, the Company made purchases from one vendor that accounted for approximately 12% of total purchases. For the 13-week period ended December 29, 2012, the Company made purchases from two vendors that accounted for approximately 22% of total purchases.

SEGMENT REPORTING — As of December 28, 2013, the Company owned and operated 20 restaurants and bars, 22 fast food concepts and catering operations, exclusively in the United States, that have similar economic characteristics, nature of products and service, class of customers and distribution methods. The Company believes it meets the criteria for aggregating its operating segments into a single reporting segment in accordance with applicable accounting guidance.

RECENTLY ADOPTED ACCOUNTING STANDARDS — In December 2011, the Financial Accounting Standards Board (the “FASB”) issued amended standards to increase the prominence of offsetting assets and liabilities reported in financial statements. These amendments require an entity to disclose information about offsetting and the related arrangements to enable users of its financial statements to understand the effect of those arrangements on its financial position. These revised standards became effective for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods and are to be retrospectively applied. The adoption of this guidance did not have a material impact on the Company’s consolidated condensed financial statements.

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NEW ACCOUNTING STANDARDS NOT YET ADOPTED — In February 2013, the FASB issued guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date, except for obligations addressed within existing guidance. This guidance is effective for fiscal years ending after December 15, 2014 and is required to be applied retrospectively to all prior periods presented for those obligations that existed upon adoption. The Company does not expect the adoption this guidance to have a significant impact on its consolidated financial condition or results of operations.

In July 2013, the FASB issued new accounting guidance which requires entities to present unrecognized tax benefits as a reduction of a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except to the extent the net operating loss carryforwards or tax credit carryforwards are not available to be used at the reporting date to settle additional income taxes, and the entity does not intend to use them for this purpose. The new accounting guidance is consistent with how the Company has historically accounted for unrecognized tax benefits, therefore the Company does not expect the adoption of this guidance to have a significant impact on its consolidated financial statements.

2. VARIABLE INTEREST ENTITIES

The Company consolidates any variable interest entities in which it holds a variable interest and is the primary beneficiary. Generally, a variable interest entity, or VIE, is an entity with one or more of the following characteristics: (a) the total equity investment at risk is not sufficient to permit the entity to finance its activities without additional subordinated financial support; (b) as a group the holders of the equity investment at risk lack (i) the ability to make decisions about an entity’s activities through voting or similar rights, (ii) the obligation to absorb the expected losses of the entity, or (iii) the right to receive the expected residual returns of the entity; or (c) the equity investors have voting rights that are not proportional to their economic interests and substantially all of the entity’s activities either involve, or are conducted on behalf of, an investor that has disproportionately few voting rights. The primary beneficiary of a VIE is generally the entity that has (a) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance, and (b) the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE.

The Company has determined that it is the primary beneficiary of three VIEs and, accordingly, consolidates the financial results of these entities. Following are the required disclosures associated with the Company’s consolidated VIEs:

	December 28, 2013		September 28, 2013
	(in thousands)
Cash and cash equivalents	$	634	$	637
Accounts receivable		338		317
Inventories		16		16
Prepaid income taxes		163		163
Prepaid expenses and other current assets		12		13
Due from Ark Restaurants Corp. and affiliates (1)		160		157
Fixed assets, net		77		89
Other long-term assets		71		71
Total assets	$	1,471	$	1,463
Accounts payable	$	61	$	70
Accrued expenses and other liabilities		368		140
Operating lease deferred credit		60		—
Total liabilities		489		210
Equity of variable interest entities		982		1,253
Total liabilities and equity	$	1,471	$	1,463

(1) Amounts Due from Ark Restaurants Corp. and affiliates are eliminated upon consolidation.

The liabilities recognized as a result of consolidating these VIEs do not represent additional claims on our general assets; rather, they represent claims against the specific assets of the consolidated VIEs. Conversely, assets recognized as a result of consolidating these VIEs do not represent additional assets that could be used to satisfy claims against our general assets.

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3. RECENT RESTAURANT EXPANSION

On November 28, 2012, a subsidiary of the Company entered into an agreement to design and lease a restaurant at the Tropicana Hotel and Casino in Atlantic City, NJ. The cost to construct this restaurant was approximately $1,750,000. The initial term of the lease for this facility expires June 7, 2023 and has two five-year renewals. The restaurant, Broadway Burger Bar, opened during the third quarter of fiscal 2013.

4. RECENT RESTAURANT DISPOSITIONS

On October 29, 2012, the Company suffered a flood at its Red and Sequoia properties located in New York, NY as a result of a hurricane. The Company did not reopen these properties as the underlying leases were due to expire in the second quarter of fiscal 2013. Losses related to the closure of these properties, in the amount of $256,000, are included in Other Operating Costs and Expenses in the Consolidated Condensed Statement of Income for the 13-weeks ended December 29, 2012.

5. NOTE RECEIVABLE

On June 7, 2011, the Company entered into a 10-year exclusive agreement to manage a yet to be constructed restaurant and catering service at Basketball City in New York City in exchange for a fee of $1,000,000. Under the terms of the agreement the owner of the property was to construct the facility at their expense and the Company was to pay the owner an annual fee based on sales, as defined in the agreement. Since the owner had not delivered the facility to the Company within the specified timeframe, the parties executed a promissory note for repayment of the $1,000,000 exclusivity fee. The note bears interest at 4.0% per annum and is payable in 48 equal monthly installments of $22,579, which commenced on December 1, 2013.

6. INVESTMENT IN NEW MEADOWLANDS RACETRACK

On March 12, 2013, the Company made a $4,200,000 investment in the New Meadowlands Racetrack LLC (“NMR”) through its purchase of a membership interest in Meadowlands Newmark, LLC, an existing member of NMR. On November 19, 2013, the Company invested an additional $464,000 in NMR through a purchase of an additional membership interest in Meadowlands Newmark, LLC resulting in a total ownership of 11.6%. This investment has been accounted for based on the cost method and is included in Other Assets in the accompanying Consolidated Condensed Balance Sheets at December 28, 2013 and September 28, 2013. The Company periodically reviews its investments for impairment. If the Company determines that an other-than-temporary impairment has occurred, it will write-down the investment to its fair value. No indication of impairment was noted as of December 28, 2013.

In conjunction with this investment, the Company, through a 97% owned subsidiary, Ark Meadowlands LLC (“AM VIE”), also entered into a long-term agreement with NMR to provide food and beverage management services for the new racing facilities constructed at the Meadowlands Racetrack in northern New Jersey. Despite the ownership percentage the company only participates in 5% of the profits and has no capital at risk. At December 28, 2013, it was determined that this entity is a variable interest entity. However, based on qualitative consideration of the contracts with AM VIE, the operating structure of AM VIE, the Company’s role with AM VIE, and that the Company is not obligated to absorb any expected losses of AM VIE, the Company has concluded that it is not the primary beneficiary and not required to consolidate the operations of AM VIE.

Our maximum exposure to loss as a result of our involvement with AM VIE is limited to our receivable from AM VIE’s primary beneficiary (NMR, a related party) which aggregated approximately $321,000 at December 28, 2013 and is included in Prepaid Expenses and Other Current Assets in the Consolidated Condensed Balance Sheet.

7. NOTES PAYABLE

Treasury Stock Repurchase – On December 12, 2011, the Company, in a private transaction, purchased 250,000 shares of its common stock at a price of $12.50 per share, or a total of $3,125,000. Upon the closing of the purchase, the Company paid the seller $1,000,000 in cash and issued an unsecured promissory note to the seller for $2,125,000. The note bears interest at 0.19% per annum, and is payable in 24 equal monthly installments of $88,541, commencing on December 1, 2012. As of December 28, 2013, the outstanding note payable balance was approximately $974,000.

Bank – On February 25, 2013, the Company issued a promissory note, secured by all assets of the Company, to a bank for $3,000,000. The note bears interest at LIBOR plus 3.0% per annum, and is payable in 36 equal monthly installments of $83,333, commencing on March 25, 2013. As of December 28, 2013, the outstanding balance of this note payable was approximately $2,167,000. The agreement provides, among other things, that the Company meet minimum quarterly tangible net worth amounts, as defined, and minimum annual net income amounts, and contains customary representations, warranties and affirmative covenants. The agreement also contains customary negative covenants, subject to negotiated exceptions, on liens, relating to other indebtedness, capital expenditures, liens, affiliate transactions, disposal of assets and certain changes in ownership. The Company was in compliance with all debt covenants as of December 28, 2013.

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8. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Accrued expenses and other current liabilities consist of the following:

	December 28, 2013		September 28, 2013
	(In thousands)
Sales tax payable	$	1,156	$	783
Accrued wages and payroll related costs		1,205		1,435
Customer advance deposits		2,759		3,356
Accrued occupancy, gift cards and other operating expenses		4,180		3,701
	$	9,300	$	9,275

9. COMMITMENTS AND CONTINGENCIES

Leases — The Company leases its restaurants, bar facilities, and administrative headquarters through its subsidiaries under terms expiring at various dates through 2032. Most of the leases provide for the payment of base rents plus real estate taxes, insurance and other expenses and, in certain instances, for the payment of a percentage of the restaurants sales in excess of stipulated amounts at such facility and in one instance based on profits.

Legal Proceedings — In the ordinary course of its business, the Company is a party to various lawsuits arising from accidents at its restaurants and worker’s compensation claims, which are generally handled by the Company’s insurance carriers. The employment by the Company of management personnel, waiters, waitresses and kitchen staff at a number of different restaurants has resulted in the institution, from time to time, of litigation alleging violation by the Company of employment discrimination laws. Management believes, based in part on the advice of counsel, that the ultimate resolution of these matters will not have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows.

Other — On November 22, 2013, the Company, through a wholly-owned subsidiary, Ark Rustic Inn LLC, entered into an Asset Purchase Agreement with W and O, Inc. to purchase the Rustic Inn Crab House, a restaurant and bar in Dania Beach, Florida, for $7,500,000 plus inventory. The acquisition is scheduled to close on or before February 28, 2014, subject to satisfactory completion of due diligence, execution of employment and non-competition agreements, Florida Liquor Authority approval and customary closing conditions. In connection with the signing of this agreement the Company made an initial deposit toward the purchase in the amount of $500,000 which is included in Other Assets in the Consolidated Condensed Balance Sheet at December 28, 2013. The balance of the purchase price is expected to be financed with bank borrowings.

10. STOCK OPTIONS

The Company has options outstanding under two stock option plans, the 2004 Stock Option Plan (the “2004 Plan”) and the 2010 Stock Option Plan (the “2010 Plan”), which was approved by shareholders in the second quarter of 2010. Effective with this approval, the Company terminated the 2004 Plan. This action terminated the 400 authorized but unissued options under the 2004 Plan, but it did not affect any of the options previously issued under the 2004 Plan. Options granted under the 2004 Plan are exercisable at prices at least equal to the fair market value of such stock on the dates the options were granted. The options expire ten years after the date of grant.

The 2010 Stock Option Plan is the Company’s only equity compensation plan currently in effect. Under the 2010 Stock Option Plan, 500,000 options were authorized for future grant. Options granted under the 2010 Plan are exercisable at prices at least equal to the fair market value of such stock on the dates the options were granted. The options expire ten years after the date of grant. No options were issued during the 13-week period ended December 28, 2013.

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A summary of stock option activity is presented below:

	2014
	Shares			Weighted Average Exercise Price		Weighted Average Contractual Term		Aggregate Intrinsic Value
Outstanding, beginning of period		623,100		$	19.56		5.50 Years
Options:
Granted		—
Exercised		(3,000	)	$	12.83
Canceled or expired		—
Outstanding and expected to vest, end of year		620,100		$	19.73		5.25 Years	$	3,545,220
Exercisable, end of year		501,450		$	20.95		4.50 Years	$	2,587,715

Compensation cost charged to operations for both 13-week periods ended December 28, 2013 and December 29, 2012 was $80,000. The compensation cost recognized is classified as a general and administrative expense in the Consolidated Condensed Statements of Income.

As of December 28, 2013, there was approximately $142,000 of unrecognized compensation cost related to unvested stock options, which is expected to be recognized over a period of approximately six months.

11. INCOME TAXES

The Company’s provision for income taxes consists of Federal, state and local taxes in amounts necessary to align the Company’s year-to-date provision for income taxes with the effective tax rate that the Company expects to achieve for the full year. The income tax provision on income from continuing operations for the 13-week periods ended December 28, 2013 and December 29, 2012 reflect effective tax rates of approximately 32%. The Company expects its effective tax rate for its current fiscal year to be significantly lower than the statutory rate as a result of the inclusion of tax credits and operating income attributable to the non-controlling interests of the VIEs that is not taxable to the Company. The final annual tax rate cannot be determined until the end of the fiscal year; therefore, the actual tax rate could differ from current estimates.

12. INCOME PER SHARE OF COMMON STOCK

Net income per share is calculated on the basis of the weighted average number of common shares outstanding during each period plus, for diluted net income per share, the additional dilutive effect of potential common stock. Potential common stock using the treasury stock method consists of dilutive stock options.

For the 13-week period ended December 28, 2013, options to purchase 156,300 shares of common stock at an exercise price of $12.04 per share and options to purchase 237,300 shares of common stock at an exercise price $14.40 per share were included in diluted earnings per share. Options to purchase 136,500 shares of common stock at an exercise price of $29.60 per share and options to purchase 90,000 shares of common stock at an exercise price of $32.15 per share were not included in diluted earnings per share as their impact was anti-dilutive.

For the 13-week period ended December 29, 2012, options to purchase 165,100 shares of common stock at a price of $12.04 and options to purchase 245,500 shares of common stock at a price of $14.40 were included in diluted earnings per share. Options to purchase 139,000 shares of common stock at a price of $29.60 and options to purchase 90,000 shares of common stock at a price of $32.15 per share were not included in diluted earnings per share as their impact was antidilutive.

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13. DIVIDENDS

On December 4, 2013, the Board of Directors declared a quarterly dividend of $0.25 per share on the Company’s common stock to be paid on December 30, 2013 to shareholders of record at the close of business on December 16, 2013. The Company intends to continue to pay such quarterly cash dividend for the foreseeable future, however, the payment of future dividends is at the discretion of the Company’s Board of Directors and is based on future earnings, cash flow, financial condition, capital requirements, changes in U.S. taxation and other relevant factors.

14. SUBSEQUENT EVENTS

On January 31, 2014, the Company, through a wholly-owned subsidiary, Ark Jupiter RI, LLC, entered into an agreement with Crab House, Inc., to purchase the assets of a restaurant and bar in Jupiter, Florida for $250,000, of which a $50,000 initial deposit was made. The purchase is subject to, among other things, the landlord’s consent to the assignment and assumption of the lease and execution and delivery of an amendment to the lease which is satisfactory to Ark.

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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

Overview

As of December 28, 2013, the Company owned and operated 20 restaurants and bars, 22 fast food concepts and catering operations, exclusively in the United States, that have similar economic characteristics, nature of products and service, class of customer and distribution methods. The Company believes it meets the criteria for aggregating its operating segments into a single reporting segment in accordance with applicable accounting guidance.

Accounting Period

Our fiscal year ends on the Saturday nearest September 30. We report fiscal years under a 52/53-week format. This reporting method is used by many companies in the hospitality industry and is meant to improve year-to-year comparisons of operating results. Under this method, certain years will contain 53 weeks. The periods ended December 28, 2013 and December 29, 2012 included 13 weeks.

Seasonality

The Company has substantial fixed costs that do not decline proportionally with sales. The first and second fiscal quarters, which include the winter months, usually reflect lower customer traffic than in the third and fourth fiscal quarters. In addition, sales in the third and fourth fiscal quarters can be adversely affected by inclement weather due to the significant amount of outdoor seating at the Company’s restaurants.

Results of Operations

The Company’s operating income was $1,201,000 for the 13 weeks ended December 28, 2013 as compared to operating income of $282,000 for the 13 weeks ended December 29, 2012. This increase resulted from a combination of factors including: (i) strong catering revenues in New York, (ii) significant improvement in the performance of Clyde Frazier’s Wine and Dine, (iii) the negative effects of Hurricane Sandy in the prior period on our businesses located in New York, Atlantic City, NJ and Washington, DC, all partially offset by increased competition and a decrease in the usage of complimentaries by the ownership of the casinos at our Florida properties and the negative impact of additional room capacity without a corresponding increase in overall traffic in Las Vegas.

The following table summarizes the significant components of the Company’s operating results for the 13-week periods ended December 28, 2013 and December 29, 2012, respectively:

	13 Weeks Ended				Variance
	December 28, 2013		December 29, 2012		$			%
		(in thousands)
REVENUES:
Food and beverage sales	$	31,756	$	31,029	$	727			2.3	%
Other revenue		382		307		75			24.4	%
Total revenues		32,138		31,336		802			2.6	%
COSTS AND EXPENSES:
Food and beverage cost of sales		7,854		7,749		105			1.4	%
Payroll expenses		10,478		10,845		(367	)		-3.4	%
Occupancy expenses		4,401		4,535		(134	)		-3.0	%
Other operating costs and expenses		4,207		4,339		(132	)		-3.0	%
General and administrative expenses		2,850		2,410		440			18.3	%
Depreciation and amortization		1,147		1,176		(29	)		-2.5	%
Total costs and expenses		30,937		31,054		(117	)		-0.4	%
OPERATING INCOME	$	1,201	$	282	$	919			325.9	%

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Revenues

During the Company’s 13-week period ended December 28, 2013, revenues increased 2.6% as compared to revenues in the 13-week period ended December 29, 2012. This increase resulted primarily from: (i) strong catering revenues in New York, (ii) revenues related to our new restaurant in Atlantic City, NJ, Broadway Burger Bar and Grill, which opened in June 2013, and (iii) the negative impacts of Hurricane Sandy in the prior period, particularly at our properties in Atlantic City, NJ partially offset by increased competition and a decrease in the usage of complimentaries by the ownership of the casinos at our Florida properties and the negative impact of additional room capacity without a corresponding increase in overall traffic in Las Vegas.

Food and Beverage Same-Store Sales

On a Company-wide basis, same-store sales increased 1.8% during the first fiscal quarter of 2014 compared to the same period last year as follows:

	13 Weeks Ended				Variance
	December 28, 2013		December 29, 2012		$			%
	(in thousands)
Las Vegas	$	13,028	$	13,497	$	(469	)		-3.5	%
New York		9,216		7,959		1,257			15.8	%
Washington, DC		3,128		3,137		(9	)		-0.3	%
Atlantic City, NJ		711		538		173			32.2	%
Boston		964		960		4			0.4	%
Connecticut		860		876		(16	)		-1.8	%
Florida		2,969		3,357		(388	)		-11.6	%
Same-store sales		30,876		30,324	$	552			1.8	%
Other		880		705
Food and beverage sales	$	31,756	$	31,029

Same-store sales in Las Vegas decreased 3.5% primarily as a result of the negative impact of additional room capacity without a corresponding increase in overall traffic. Same-store sales in New York (which exclude the Red and Sequoia properties as they were closed in October 2012) increased 15.8% as a result of strong catering revenues. Same-store sales in Washington, DC were flat as expected. Same-store sales in Atlantic City increased 32.2% due to the negative impacts of Hurricane Sandy in the prior period. Same-store sales in Boston were flat as expected. Same-store sales in Connecticut decreased 1.8% due to declining traffic at the Foxwoods Resort and Casino where our properties are located. Same-store sales in Florida decreased 11.6% due to increased competition at one of our properties combined with a decrease in the usage of complimentaries by the ownership of the casinos where our properties are located. Other food and beverage sales consist of sales related to new restaurants opened during the applicable period and sales related to properties that were closed during the period due to lease expiration and other closures and therefore not included in discontinued operations.

Costs and Expenses

Costs and expenses from continuing operations for the 13 weeks ended December 28, 2013 and December 29, 2012 were as follows (in thousands):

	13 Weeks Ended		%			13 Weeks Ended		%			Increase
	December 28,		to Total			December 29,		to Total			(Decrease)
	2013		Revenues			2012		Revenues			$			%
Food and beverage cost of sales	$	7,854		24.4	%	$	7,749		24.7	%	$	105			1.4	%
Payroll expenses		10,478		32.6	%		10,845		34.6	%		(367	)		-3.4	%
Occupancy expenses		4,401		13.7	%		4,535		14.5	%		(134	)		-3.0	%
Other operating costs and expenses		4,207		13.1	%		4,339		13.8	%		(132	)		-3.0	%
General and administrative expenses		2,850		8.9	%		2,410		7.7	%		440			18.3	%
Depreciation and amortization		1,147		3.6	%		1,176		3.8	%		(29	)		-2.5	%
	$	30,937				$	31,054				$	(117	)

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Food and beverage costs as a percentage of total revenues for the 13 weeks ended December 28, 2013 decreased slightly compared to the same period of fiscal 2013 and reflect improved menu costing partially offset by higher commodity prices.

Payroll expenses as a percentage of total revenues for the 13 weeks ended December 28, 2013 decreased as compared to the same period of fiscal 2013 due primarily to severance payments to employees of closed properties in the prior period.

Occupancy expenses as a percentage of total revenues for the 13 weeks ended December 28, 2013 decreased as compared to the same period of fiscal 2013 as a result of higher sales at properties where rents are relatively fixed.

Other operating costs and expenses for the 13 weeks ended December 28, 2013 decreased as compared to the same period of fiscal 2013 primarily as the result of closure losses related to the two properties in New York as a result of Hurricane Sandy.

General and administrative expenses (which relate solely to the corporate office in New York City) for the 13 weeks ended December 28, 2013 increased compared to the same period of fiscal 2013 primarily as a result of increased salaries and benefits and professional fees.

Income Taxes

The Company’s provision for income taxes consists of Federal, state and local taxes in amounts necessary to align the Company’s year-to-date provision for income taxes with the effective tax rate that the Company expects to achieve for the full year. The income tax provision on income from continuing operations for the 13-week periods ended December 28, 2013 and December 29, 2012 reflect effective tax rates of approximately 32%.  The Company expects its effective tax rate for its current fiscal year to be lower than the statutory rate as a result of the inclusion of tax credits and operating income attributable to the non-controlling interests of the VIEs that is not taxable to the Company. The final annual tax rate cannot be determined until the end of the fiscal year; therefore, the actual tax rate could differ from current estimates.

The Company’s overall effective tax rate in the future will be affected by factors such as the level of losses incurred at the Company’s New York facilities, which cannot be consolidated for state and local tax purposes, pre-tax income earned outside of New York City, the utilization of state and local net operating loss carryforwards and the utilization of FICA tax credits. Nevada has no state income tax and other states in which the Company operates have income tax rates substantially lower in comparison to New York.

Liquidity and Capital Resources

Our primary source of capital has been cash provided by operations. We utilize cash generated from operations to fund the cost of developing and opening new restaurants, acquiring existing restaurants owned by others and remodeling existing restaurants we own; however, in recent years, we have utilized bank and other borrowings to finance specific transactions.

Net cash used in investing activities for the 13-week period ended December 28, 2013 was $1,817,000 and resulted primarily from purchases of fixed assets at existing restaurants, an additional $464,000 investment in New Meadowlands Racetrack LLC and an initial payment of $500,000 related to our to be closed purchase of The Rustic Inn.

Net cash used in investing activities for the 13-week period ended December 29, 2012 was $3,374,000 and resulted primarily from purchases of fixed assets at existing restaurants and the purchase of the Florida membership interests.

Net cash used in financing activities for the 13-week period ended December 28, 2013 of $1,530,000 resulted from the payment of dividends, principal payments on notes payable and distributions to non-controlling interests.

Net cash used in financing activities for the 13-week period ended December 29, 2012 of $1,499,000 was principally used for the payment of dividends and distributions to non-controlling interests.

The Company had a working capital deficiency of $874,000 at December 28, 2013, as compared to a working capital surplus of $306,000 at September 28, 2013. This resulted primarily from our additional investment in New Meadowlands Racetrack LLC and initial payment of $500,000 related to our to be closed purchase of The Rustic Inn. We believe that our existing cash balances and cash provided by operations will be sufficient to meet our liquidity and capital spending requirements at least through the next 12 months.

On December 4, 2013, the Board of Directors declared a quarterly dividend of $0.25 per share on the Company’s common stock to be paid on December 30, 2013 to shareholders of record at the close of business on December 16, 2013. The Company intends to continue to pay such quarterly cash dividend for the foreseeable future, however, the payment of future dividends is at the discretion of the Company’s Board of Directors and is based on future earnings, cash flow, financial condition, capital requirements, changes in U.S. taxation and other relevant factors.

- 15 -

On November 22, 2013, the Company, through a wholly-owned subsidiary, Ark Rustic Inn LLC, entered into an Asset Purchase Agreement with W and O, Inc. to purchase the Rustic Inn Crab House, a restaurant and bar in Dania Beach, Florida, for $7,500,000 plus inventory. The acquisition is scheduled to close on or before February 28, 2014, subject to satisfactory completion of due diligence, execution of employment and non-competition agreements, Florida Liquor Authority approval and customary closing conditions. In connection with the signing of this agreement the Company made an initial deposit toward the purchase in the amount of $500,000 which is included in Other Assets in the Consolidated Condensed Balance Sheet at December 28, 2013. The balance of the purchase price is expected to be financed with bank borrowings.

Recent Restaurant Expansion

On November 28, 2012, a subsidiary of the Company entered into an agreement to design and lease a restaurant at the Tropicana Hotel and Casino in Atlantic City, NJ. The cost to construct this restaurant was approximately $1,750,000. The initial term of the lease for this facility expires June 7, 2023 and has two five-year renewals. The restaurant, Broadway Burger Bar, opened during the third quarter of fiscal 2013 and, as a result, the Consolidated Statement of Income for the 39-weeks ended June 29, 2013 includes approximately $100,000 of pre-opening and early operating losses related to this property.

Recent Restaurant Dispositions

On October 29, 2012, the Company suffered a flood at its Red and Sequoia properties located in New York, NY as a result of a hurricane. The Company did not reopen these properties as the underlying leases were due to expire in the second quarter of fiscal 2013. Losses related to the closure of these properties, in the amount of $256,000, are included in Other Operating Costs and Expenses in the Consolidated Condensed Statement of Income for the 13-weeks ended December 29, 2012.

Critical Accounting Policies

The preparation of financial statements requires the application of certain accounting policies, which may require the Company to make estimates and assumptions of future events. In the process of preparing its consolidated condensed financial statements, the Company estimates the appropriate carrying value of certain assets and liabilities, which are not readily apparent from other sources. The primary estimates underlying the Company’s consolidated condensed financial statements include allowances for potential bad debts on accounts and notes receivable, leases, the useful lives and recoverability of its assets, such as property and intangibles, fair values of financial instruments, the realizable value of its tax assets and other matters. Management bases its estimates on certain assumptions, which they believe are reasonable in the circumstances, and actual results could differ from those estimates. Although management does not believe that any change in those assumptions in the near term would have a material effect on the Company’s consolidated financial position or the results of operations, differences in actual results could be material to the consolidated condensed financial statements.

The Company’s critical accounting policies are described in the Company’s Form 10-K for the year ended September 28, 2013. There have been no significant changes to such policies during fiscal 2014 other than those disclosed in Note 1 to the Consolidated Condensed Financial Statements.

Recently Adopted and Issued Accounting Standards

See Note 1 to the Consolidated Condensed Financial Statements for a description of recent accounting pronouncements, including those adopted in fiscal 2014 and the expected dates of adoption and the anticipated impact on the Consolidated Condensed Financial Statements.

Item 3. Quantitative and Qualitative Disclosures about Market Risk

The Company purchases commodities such as chicken, beef, lobster and shrimp for the Company’s restaurants.  The prices of these commodities may be volatile depending upon market conditions.  The Company does not purchase forward commodity contracts because the changes in prices for these items have historically been short-term in nature and, in the Company’s view, the cost of the contracts is in excess of the benefits.

The Company’s business is also highly seasonal and dependent on the weather. Outdoor seating capacity, such as terraces and sidewalk cafes, are available for dining only in the warm seasons and then only in clement weather.

Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

Under the supervision and with the participation of management, including our principal executive officer and principal financial officer, we evaluated the effectiveness of the design and operation of our disclosure controls and procedures as of the end of the period covered by this quarterly report as such term is defined in Rules 13a-15(e) and 15d-15(e) promulgated under the

- 16 -

Securities Exchange Act of 1934, as amended (the “Exchange Act”). Based on this evaluation, our management, including our principal executive officer and principal financial officer, concluded that our disclosure controls and procedures were effective as of December 28, 2013 to ensure that all material information required to be disclosed by us in reports that we file or submit under the Exchange Act is accumulated and communicated to them as appropriate to allow timely decisions regarding required disclosure and that all such information is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms.

Changes in Internal Control over Financial Reporting

There have been no changes in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) of the Exchange Act) that occurred during the first quarter of fiscal 2014 that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.

Limitations of the Effectiveness of Internal Control

A control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the internal control system are met. Because of the inherent limitations of any internal control system, no evaluation of controls can provide absolute assurance that all control issues, if any, within a company have been detected.

- 17 -

PART II
OTHER INFORMATION

Item 1. Legal Proceedings

The Company is not subject to other pending legal proceedings, other than ordinary claims incidental to its business, which the Company does not believe will materially impact results of operations.

Item 1A. Risk Factors

The most significant risk factors applicable to the Company are described in Part I, Item 1A (Risk Factors) of the Company’s Annual Report on Form 10-K for the fiscal year ended September 28, 2013 (the “2013 Form 10-K”). There have been no material changes to the risk factors previously disclosed in the 2013 Form 10-K. The risks described in the 2013 Form 10-K are not the only risks facing the Company.  Additional risks and uncertainties not currently known to management may materially adversely affect the Company’s business, financial condition, and/or operating results.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

None.

Item 3. Defaults upon Senior Securities

None.

Item 4. Mine Safety Disclosures

Not Applicable.

Item 5. Other Information

None.

Item 6. Exhibits

31.1	Certification of Principal Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2	Certification of Principal Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32	Certificate of Chief Executive and Chief Financial Officers Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

101.INS*	XBRL Instance Document
101.SCH*	XBRL Taxonomy Extension Schema Document
101.CAL*	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF*	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB*	XBRL Taxonomy Extension Label Linkbase Document
101.PRE*	XBRL Taxonomy Extension Presentation Linkbase Document

*Pursuant to Rule 406T of Regulation S-T, the Interactive Data Files on Exhibit 101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise are not subject to liability under those sections.

- 18 -

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date:	February 11, 2014
	ARK RESTAURANTS CORP.
By:	/s/ Michael Weinstein
	Michael Weinstein
	Chairman & Chief Executive Officer
	(Principal Executive Officer)
By:	/s/ Robert J. Stewart
	Robert J. Stewart
	President and Chief Financial Officer
	(Authorized Signatory and Principal
	Financial and Accounting Officer)

- 19 -

EX-31.1

EXHIBIT 31.1

CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Michael Weinstein, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Ark Restaurants Corp.

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Dated: February 11, 2014

/s/ MICHAEL WEINSTEIN

Michael Weinstein

Chairman and Chief Executive Officer

(Principal Executive Officer)

EX-31.2

EXHIBIT 31.2

CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Robert J. Stewart, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Ark Restaurants Corp.

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Dated: February 11, 2014

/s/ Robert J. Stewart

Robert J. Stewart

President and Chief Financial Officer 

(Authorized Signatory and Principal 

Financial and Accounting Officer) 

EX-32

Exhibit 32

Certificate of Chief Executive and Chief Financial Officers Pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002

In connection with the Quarterly Report on Form 10-Q for the quarter ended December 28, 2013 of Ark Restaurants Corp. (the “Registrant”) as filed with the Securities and Exchange Commission on the date hereof (the “Report”), we, Michael Weinstein and Robert J. Stewart, Chief Executive Officer and Chief Financial Officer, respectively, of the Registrant, certify, pursuant to 18 U.S.C. § 1350, that to our knowledge:

(i) this Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (15 U.S.C. 78m or 78o(d)); and

(ii) the information contained in this Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

Dated as of this 11th day of February 2014.

/s/ Michael Weinstein	/s/ Robert J. Stewart
Michael Weinstein	Robert J. Stewart
Chairman and Chief Executive Officer	President and Chief Financial Officer
(Principal Executive Officer)	(Authorized Signatory and Principal
	Financial and Accounting Officer)

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INCOME PER SHARE OF COMMON STOCK (Details) (USD $)	3 Months Ended
	Dec. 28, 2013	Dec. 29, 2012
Exercise Price One [Member]
INCOME PER SHARE OF COMMON STOCK (Details) [Line Items]
Dilutive Securities Included In Computation Of Earnings Per Share Amount	156,300	165,100
Exercise Price Of Common Stock Options Included In Computation Of Earnings Per Share (in Dollars per share)	$ 12.04	$ 12.04
Exercise Price Two [Member]
INCOME PER SHARE OF COMMON STOCK (Details) [Line Items]
Dilutive Securities Included In Computation Of Earnings Per Share Amount	237,300	245,500
Exercise Price Of Common Stock Options Included In Computation Of Earnings Per Share (in Dollars per share)	$ 14.40	$ 14.40
Exercise Price Three [Member]
INCOME PER SHARE OF COMMON STOCK (Details) [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	136,500	139,000
Exercise Price Of Common Stock Options Excluded From Computation Of Earnings Per Share (in Dollars per share)	$ 29.60	$ 29.60
Exercise Price Four [Member]
INCOME PER SHARE OF COMMON STOCK (Details) [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	90,000	90,000
Exercise Price Of Common Stock Options Excluded From Computation Of Earnings Per Share (in Dollars per share)	$ 32.15	$ 32.15

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NOTES PAYABLE (Details) (USD $)	3 Months Ended
	Dec. 28, 2013
NOTES PAYABLE (Details) [Line Items]
Treasury Stock, Shares, Acquired (in Shares)	250,000
Treasury Stock Acquired, Average Cost Per Share (in Dollars per share)	$ 12.50
Treasury Stock, Value, Acquired, Cost Method	$ 3,125,000
Payments for Repurchase of Common Stock	1,000,000
Note Payable In Connection With Purchase Of Treasury Shares	2,125,000
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	0.19%
Debt Instrument, Periodic Payment	88,541
Debt Instrument, Date of First Required Payment	Dec. 01, 2012
Note Payable in Connection with Purchase of Treasury Shares Outstanding Balance	974,000
Notes Payable to Banks [Member]
NOTES PAYABLE (Details) [Line Items]
Number of Installments	36
Debt Instrument, Periodic Payment	83,333
Debt Instrument, Date of First Required Payment	Mar. 25, 2013
Debt Instrument, Face Amount	3,000,000
Debt Instrument, Interest Rate Terms	LIBOR plus 3.0% per annum
Debt Instrument, Basis Spread on Variable Rate	3.00%
Note Payable to Bank Balance Outstanding	$ 2,167,000
Unsecured Promissory Note [Member]
NOTES PAYABLE (Details) [Line Items]
Number of Installments	24

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STOCK OPTIONS (Tables)

3 Months Ended

Dec. 28, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

A summary of stock option activity is presented below:

	2014
	Shares			Weighted Average Exercise Price		Weighted Average Contractual Term		Aggregate Intrinsic Value
Outstanding, beginning of period		623,100		$	19.56		5.50 Years
Options:
Granted		—
Exercised		(3,000	)	$	12.83
Canceled or expired		—
Outstanding and expected to vest, end of year		620,100		$	19.73		5.25 Years	$	3,545,220
Exercisable, end of year		501,450		$	20.95		4.50 Years	$	2,587,715

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STOCK OPTIONS (Details) - Schedule of stock options, activity (USD $)	3 Months Ended
	Dec. 28, 2013
Schedule of stock options, activity [Abstract]
Outstanding, beginning of period	623,100
Outstanding, beginning of period (in Dollars per share)	$ 19.56
Outstanding, beginning of period	5 years 6 months
Options:
Exercised	(3,000)
Exercised (in Dollars per share)	$ 12.83
Outstanding and expected to vest, end of year	620,100
Outstanding and expected to vest, end of year (in Dollars per share)	$ 19.73
Outstanding and expected to vest, end of year	5 years 3 months
Outstanding and expected to vest, end of year (in Dollars)	$ 3,545,220
Exercisable, end of year	501,450
Exercisable, end of year (in Dollars per share)	$ 20.95
Exercisable, end of year	4 years 6 months
Exercisable, end of year (in Dollars)	$ 2,587,715

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VARIABLE INTEREST ENTITIES

3 Months Ended

Dec. 28, 2013

Variable Interest Entities [Abstract]

Variable Interest Entities [Text Block]

2. VARIABLE INTEREST ENTITIES

The Company consolidates any variable interest entities in which it holds a variable interest and is the primary beneficiary. Generally, a variable interest entity, or VIE, is an entity with one or more of the following characteristics: (a) the total equity investment at risk is not sufficient to permit the entity to finance its activities without additional subordinated financial support; (b) as a group the holders of the equity investment at risk lack (i) the ability to make decisions about an entity’s activities through voting or similar rights, (ii) the obligation to absorb the expected losses of the entity, or (iii) the right to receive the expected residual returns of the entity; or (c) the equity investors have voting rights that are not proportional to their economic interests and substantially all of the entity’s activities either involve, or are conducted on behalf of, an investor that has disproportionately few voting rights. The primary beneficiary of a VIE is generally the entity that has (a) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance, and (b) the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE.

The Company has determined that it is the primary beneficiary of three VIEs and, accordingly, consolidates the financial results of these entities. Following are the required disclosures associated with the Company’s consolidated VIEs:

	December 28, 2013		September 28, 2013
	(in thousands)
Cash and cash equivalents	$	634	$	637
Accounts receivable		338		317
Inventories		16		16
Prepaid income taxes		163		163
Prepaid expenses and other current assets		12		13
Due from Ark Restaurants Corp. and affiliates (1)		160		157
Fixed assets, net		77		89
Other long-term assets		71		71
Total assets	$	1,471	$	1,463
Accounts payable	$	61	$	70
Accrued expenses and other liabilities		368		140
Operating lease deferred credit		60		—
Total liabilities		489		210
Equity of variable interest entities		982		1,253
Total liabilities and equity	$	1,471	$	1,463

(1) Amounts Due from Ark Restaurants Corp. and affiliates are eliminated upon consolidation.

The liabilities recognized as a result of consolidating these VIEs do not represent additional claims on our general assets; rather, they represent claims against the specific assets of the consolidated VIEs. Conversely, assets recognized as a result of consolidating these VIEs do not represent additional assets that could be used to satisfy claims against our general assets.

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RECENT RESTAURANT EXPANSION (Details) (USD $)	3 Months Ended
	Dec. 28, 2013
RECENT RESTAURANT EXPANSION (Details) [Line Items]
Lease Expiration Date	Dec. 31, 2032
Tropicana Hotel and Casino [Member]
RECENT RESTAURANT EXPANSION (Details) [Line Items]
Cost of Construction (in Dollars)	$ 1,750,000
Lease Expiration Date	Jun. 07, 2023
Number of Lease Renewal Option	2
Period of Lease Extension Under Renewal Option	5 years

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VARIABLE INTEREST ENTITIES (Details) - Schedule of variable interest entities (USD $) In Thousands, unless otherwise specified	Dec. 28, 2013		Sep. 28, 2013
Schedule of variable interest entities [Abstract]
Cash and cash equivalents	$ 634		$ 637
Accounts receivable	338		317
Inventories	16		16
Prepaid income taxes	163		163
Prepaid expenses and other current assets	12		13
Due from Ark Restaurants Corp. and affiliates (1)	160	[1]	157	[1]
Fixed assets, net	77		89
Other long-term assets	71		71
Total assets	1,471		1,463
Accounts payable	61		70
Accrued expenses and other liabilities	368		140
Operating lease deferred credit	60
Total liabilities	489		210
Equity of variable interest entities	982		1,253
Total liabilities and equity	$ 1,471		$ 1,463

[1] Amounts due from Ark Restaurants Corp. and affiliates are eliminated upon consolidation.

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RECENT RESTAURANT DISPOSITIONS (Details) (Red and Sequoia Properties [Member], USD $)	3 Months Ended
	Dec. 29, 2012
Red and Sequoia Properties [Member]
RECENT RESTAURANT DISPOSITIONS (Details) [Line Items]
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property	$ 256,000

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NOTE RECEIVABLE (Details) (USD $)	1 Months Ended	3 Months Ended
	Jun. 07, 2011	Dec. 28, 2013
Receivables [Abstract]
Period of Agreement	10 years
Fees Amount Of Constructed Restaurant And Catering Service	$ 1,000,000
Financing Receivable, Net		1,000,000
Notes Receivable Interest Rate Stated Percentage		4.00%
Notes Receivable Number Of Equal Periodic Installments		48
Notes Receivable Amount of Equal Periodic Installments		$ 22,579

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CONSOLIDATED CONDENSED FINANCIAL STATEMENTS

3 Months Ended

Dec. 28, 2013

Consolidated Condensed Financial Statements [Abstract]

Consolidated Condensed Financial Statements [Text Block]

1. CONSOLIDATED CONDENSED FINANCIAL STATEMENTS

The consolidated and condensed balance sheet as of September 28, 2013, which has been derived from audited financial statements included in the Form 10-K, and the unaudited interim consolidated and condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). All adjustments that, in the opinion of management, are necessary for a fair presentation for the periods presented have been reflected as required by Regulation S-X, Rule 10-01. Such adjustments are of a normal, recurring nature. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. These consolidated condensed financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s annual report on Form 10-K for the year ended September 28, 2013. The results of operations for interim periods are not necessarily indicative of the operating results to be expected for the full year or any other interim period.

PRINCIPLES OF CONSOLIDATION — The consolidated condensed interim financial statements include the accounts of Ark Restaurants Corp. and all of its wholly-owned subsidiaries, partnerships and other entities in which it has a controlling interest. Also included in the consolidated condensed interim financial statements are certain variable interest entities (“VIEs”). All significant intercompany balances and transactions have been eliminated in consolidation.

SEASONALITY — The Company has substantial fixed costs that do not decline proportionally with sales. The first and second fiscal quarters, which include the winter months, usually reflect lower customer traffic than in the third and fourth fiscal quarters. In addition, sales in the third and fourth fiscal quarters can be adversely affected by inclement weather due to the significant amount of outdoor seating at the Company’s restaurants.

FAIR VALUE OF FINANCIAL INSTRUMENTS — The carrying amount of cash and cash equivalents, receivables, accounts payable and accrued expenses approximate fair value due to the immediate or short-term maturity of these financial instruments. The fair values of notes receivable and payable are determined using current applicable rates for similar instruments as of the balance sheet date and approximates the carrying value of such debt.

CASH AND CASH EQUIVALENTS — Cash and cash equivalents include cash on hand, deposits with banks and highly liquid investments generally with original maturities of three months or less. Outstanding checks in excess of account balances, typically vendor payments, payroll and other contractual obligations disbursed after the last day of a reporting period are reported as a current liability in the accompanying consolidated condensed balance sheets.

CONCENTRATIONS OF CREDIT RISK — Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. The Company reduces credit risk by placing its cash and cash equivalents with major financial institutions with high credit ratings. At times, such amounts may exceed Federally insured limits. The concentration of credit risk with respect to accounts receivable is generally limited due to the short payment terms extended by the company and the number of customers comprising the company’s customer base.

For the 13-week period ended December 28, 2013, the Company made purchases from one vendor that accounted for approximately 12% of total purchases. For the 13-week period ended December 29, 2012, the Company made purchases from two vendors that accounted for approximately 22% of total purchases.

SEGMENT REPORTING — As of December 28, 2013, the Company owned and operated 20 restaurants and bars, 22 fast food concepts and catering operations, exclusively in the United States, that have similar economic characteristics, nature of products and service, class of customers and distribution methods. The Company believes it meets the criteria for aggregating its operating segments into a single reporting segment in accordance with applicable accounting guidance.

RECENTLY ADOPTED ACCOUNTING STANDARDS — In December 2011, the Financial Accounting Standards Board (the “FASB”) issued amended standards to increase the prominence of offsetting assets and liabilities reported in financial statements. These amendments require an entity to disclose information about offsetting and the related arrangements to enable users of its financial statements to understand the effect of those arrangements on its financial position. These revised standards became effective for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods and are to be retrospectively applied. The adoption of this guidance did not have a material impact on the Company’s consolidated condensed financial statements.

NEW ACCOUNTING STANDARDS NOT YET ADOPTED — In February 2013, the FASB issued guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date, except for obligations addressed within existing guidance. This guidance is effective for fiscal years ending after December 15, 2014 and is required to be applied retrospectively to all prior periods presented for those obligations that existed upon adoption. The Company does not expect the adoption this guidance to have a significant impact on its consolidated financial condition or results of operations.

In July 2013, the FASB issued new accounting guidance which requires entities to present unrecognized tax benefits as a reduction of a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except to the extent the net operating loss carryforwards or tax credit carryforwards are not available to be used at the reporting date to settle additional income taxes, and the entity does not intend to use them for this purpose. The new accounting guidance is consistent with how the Company has historically accounted for unrecognized tax benefits, therefore the Company does not expect the adoption of this guidance to have a significant impact on its consolidated financial statements.

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INVESTMENT IN NEW MEADOWLANDS RACETRACK (Details) (USD $)	3 Months Ended	12 Months Ended
	Dec. 28, 2013	Sep. 28, 2013
INVESTMENT IN NEW MEADOWLANDS RACETRACK (Details) [Line Items]
Profit Participation Percentage	5.00%
New Meadowlands Racetrack LLC [Member]
INVESTMENT IN NEW MEADOWLANDS RACETRACK (Details) [Line Items]
Payments to Acquire Businesses and Interest in Affiliates (in Dollars)		$ 4,200,000
Payments to Acquire Additional Interest in Subsidiaries (in Dollars)	464,000
Cost Method Investments Ownership Percentage	11.60%
Ark Meadowlands LLC [Member]
INVESTMENT IN NEW MEADOWLANDS RACETRACK (Details) [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent	97.00%
Maximum Loss Relating to VIE Included in Other Current Assets (in Dollars)	$ 321,000

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DIVIDENDS (Details) (USD $)	3 Months Ended
	Dec. 28, 2013	Dec. 29, 2012
Dividends [Abstract]
Common Stock, Dividends, Per Share, Cash Paid	$ 0.25	$ 0.25

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CONSOLIDATED CONDENSED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Dec. 28, 2013	Sep. 28, 2013
CURRENT ASSETS:
Cash and cash equivalents (includes $634 at December 28, 2013 and $637 at September 28, 2013 related to VIEs)	$ 7,460	$ 8,748
Accounts receivable (includes $338 at December 28, 2013 and $317 at September 28, 2013 related to VIEs)	2,063	2,712
Employee receivables	455	346
Inventories (includes $16 at December 28, 2013 and September 28, 2013 related to VIEs)	1,611	1,579
Prepaid and refundable income taxes (includes $163 at December 28, 2013 and September 28, 2013 related to VIEs)	208	567
Prepaid expenses and other current assets (includes $12 at December 28, 2013 and $13 at September 28, 2013 related to VIEs)	1,069	1,038
Current portion of note receivable	217	226
Total current assets	13,083	15,216
FIXED ASSETS - Net (includes $77 at December 28, 2013 and $89 at September 28, 2013 related to VIEs)	24,654	25,017
NOTE RECEIVABLE, LESS CURRENT PORTION	745	774
INTANGIBLE ASSETS - Net	11	13
GOODWILL	4,813	4,813
TRADEMARKS	721	721
DEFERRED INCOME TAXES	4,808	4,806
OTHER ASSETS (includes $71 at December 28, 2013 and September 28, 2013 related to VIEs)	6,068	5,098
TOTAL ASSETS	54,903	56,458
CURRENT LIABILITIES:
Accounts payable - trade (includes $61 at December 28, 2013 and $70 at September 28, 2013 related to VIEs)	1,869	2,758
Accrued expenses and other current liabilities (includes $368 at December 28, 2013 and $140 at September 28, 2013 related VIEs)	9,300	9,275
Dividend payable	814	814
Current portion of notes payable	1,974	2,063
Total current liabilities	13,957	14,910
OPERATING LEASE DEFERRED CREDIT (includes $60 at December 28, 2013 related to VIEs)	4,509	4,606
NOTES PAYABLE, LESS CURRENT PORTION	1,167	1,594
TOTAL LIABILITIES	19,633	21,110
COMMITMENTS AND CONTINGENCIES
EQUITY:
Common stock, par value $.01 per share - authorized, 10,000 shares; issued, 4,613 shares at at December 28, 2013 and 4,610 shares at September 28, 2013; outstanding, 3,257 shares at December 28, 2013 and 3,254 shares at September 28, 2013	46	46
Additional paid-in capital	23,104	22,978
Retained earnings	22,699	22,950
	45,849	45,974
Less treasury stock, at cost, of 1,356 shares at December 28, 2013 and September 28, 2013	(13,220)	(13,220)
Total Ark Restaurants Corp. shareholders’ equity	32,629	32,754
NON-CONTROLLING INTERESTS	2,641	2,594
TOTAL EQUITY	35,270	35,348
TOTAL LIABILITIES AND EQUITY	$ 54,903	$ 56,458

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CONSOLIDATED CONDENSED STATEMENTS OF CHANGES IN EQUITY (Parentheticals) (USD $)	3 Months Ended
	Dec. 28, 2013	Dec. 29, 2012
Payment of dividends, per share	$ 0.25	$ 0.25
Retained Earnings [Member]
Payment of dividends, per share	$ 0.25	$ 0.25
Parent [Member]
Payment of dividends, per share	$ 0.25	$ 0.25

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COMMITMENTS AND CONTINGENCIES (Details) (USD $)	3 Months Ended
	Dec. 28, 2013
Commitments and Contingencies Disclosure [Abstract]
Lease Expiration Date	Dec. 31, 2032
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets (in Dollars)	$ 7,500,000
Business Acquisition, Effective Date of Acquisition	Feb. 28, 2014
Initial Deposit Under Asset Purchase Agreement (in Dollars)	$ 500,000

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Accounting Policies, by Policy (Policies)

3 Months Ended

Dec. 28, 2013

Accounting Policies [Abstract]

Consolidation, Policy [Policy Text Block]

PRINCIPLES OF CONSOLIDATION — The consolidated condensed interim financial statements include the accounts of Ark Restaurants Corp. and all of its wholly-owned subsidiaries, partnerships and other entities in which it has a controlling interest. Also included in the consolidated condensed interim financial statements are certain variable interest entities (“VIEs”). All significant intercompany balances and transactions have been eliminated in consolidation.

Seasonality [Policy Text Block]

SEASONALITY — The Company has substantial fixed costs that do not decline proportionally with sales. The first and second fiscal quarters, which include the winter months, usually reflect lower customer traffic than in the third and fourth fiscal quarters. In addition, sales in the third and fourth fiscal quarters can be adversely affected by inclement weather due to the significant amount of outdoor seating at the Company’s restaurants.

Fair Value of Financial Instruments, Policy [Policy Text Block]

FAIR VALUE OF FINANCIAL INSTRUMENTS — The carrying amount of cash and cash equivalents, receivables, accounts payable and accrued expenses approximate fair value due to the immediate or short-term maturity of these financial instruments. The fair values of notes receivable and payable are determined using current applicable rates for similar instruments as of the balance sheet date and approximates the carrying value of such debt.

Cash and Cash Equivalents, Policy [Policy Text Block]

CASH AND CASH EQUIVALENTS — Cash and cash equivalents include cash on hand, deposits with banks and highly liquid investments generally with original maturities of three months or less. Outstanding checks in excess of account balances, typically vendor payments, payroll and other contractual obligations disbursed after the last day of a reporting period are reported as a current liability in the accompanying consolidated condensed balance sheets.

Supplier Concentration [Policy Text Block]

CONCENTRATIONS OF CREDIT RISK — Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. The Company reduces credit risk by placing its cash and cash equivalents with major financial institutions with high credit ratings. At times, such amounts may exceed Federally insured limits. The concentration of credit risk with respect to accounts receivable is generally limited due to the short payment terms extended by the company and the number of customers comprising the company’s customer base.

For the 13-week period ended December 28, 2013, the Company made purchases from one vendor that accounted for approximately 12% of total purchases. For the 13-week period ended December 29, 2012, the Company made purchases from two vendors that accounted for approximately 22% of total purchases.

Segment Reporting, Policy [Policy Text Block]

SEGMENT REPORTING — As of December 28, 2013, the Company owned and operated 20 restaurants and bars, 22 fast food concepts and catering operations, exclusively in the United States, that have similar economic characteristics, nature of products and service, class of customers and distribution methods. The Company believes it meets the criteria for aggregating its operating segments into a single reporting segment in accordance with applicable accounting guidance.

Recently Adopted Accounting Standards [Policy Text Block]

RECENTLY ADOPTED ACCOUNTING STANDARDS — In December 2011, the Financial Accounting Standards Board (the “FASB”) issued amended standards to increase the prominence of offsetting assets and liabilities reported in financial statements. These amendments require an entity to disclose information about offsetting and the related arrangements to enable users of its financial statements to understand the effect of those arrangements on its financial position. These revised standards became effective for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods and are to be retrospectively applied. The adoption of this guidance did not have a material impact on the Company’s consolidated condensed financial statements.

New Accounting Pronouncements, Policy [Policy Text Block]

NEW ACCOUNTING STANDARDS NOT YET ADOPTED — In February 2013, the FASB issued guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date, except for obligations addressed within existing guidance. This guidance is effective for fiscal years ending after December 15, 2014 and is required to be applied retrospectively to all prior periods presented for those obligations that existed upon adoption. The Company does not expect the adoption this guidance to have a significant impact on its consolidated financial condition or results of operations.

In July 2013, the FASB issued new accounting guidance which requires entities to present unrecognized tax benefits as a reduction of a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except to the extent the net operating loss carryforwards or tax credit carryforwards are not available to be used at the reporting date to settle additional income taxes, and the entity does not intend to use them for this purpose. The new accounting guidance is consistent with how the Company has historically accounted for unrecognized tax benefits, therefore the Company does not expect the adoption of this guidance to have a significant impact on its consolidated financial statements.

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STOCK OPTIONS (Details) (USD $)	3 Months Ended
	Dec. 28, 2013	Dec. 29, 2012
STOCK OPTIONS (Details) [Line Items]
Number of Stock Option Plans	2
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	0
Share-based Compensation (in Dollars)	$ 80,000	$ 80,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options (in Dollars)	$ 142,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	6 months
Stock Option 2004 Plan [Member]
STOCK OPTIONS (Details) [Line Items]
Terminated Unissued Options	400
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Stock Option 2010 Plan [Member]
STOCK OPTIONS (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	500,000

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ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)

3 Months Ended

Dec. 28, 2013

Disclosure Text Block Supplement [Abstract]

Schedule Of Accrued Expenses And Other Current Liabilities [Table Text Block]

Accrued expenses and other current liabilities consist of the following:

	December 28, 2013		September 28, 2013
	(In thousands)
Sales tax payable	$	1,156	$	783
Accrued wages and payroll related costs		1,205		1,435
Customer advance deposits		2,759		3,356
Accrued occupancy, gift cards and other operating expenses		4,180		3,701
	$	9,300	$	9,275

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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
	Dec. 28, 2013	Dec. 29, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:
Consolidated net income	$ 856,000	$ 247,000
Adjustments to reconcile consolidated net income to net cash provided by operating activities:
Loss on closure of restaurants		256,000
Deferred income taxes	(2,000)
Stock-based compensation	80,000	80,000
Depreciation and amortization	1,147,000	1,176,000
Operating lease deferred credit	(97,000)	(85,000)
Changes in operating assets and liabilities:
Accounts receivable	649,000	1,143,000
Inventories	(32,000)	(62,000)
Prepaid, refundable and accrued income taxes	359,000	127,000
Prepaid expenses and other current assets	(31,000)	185,000
Other assets	(6,000)
Accounts payable - trade	(889,000)	(423,000)
Accrued expenses and other liabilities	25,000	(1,140,000)
Net cash provided by operating activities	2,059,000	1,504,000
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of fixed assets	(782,000)	(409,000)
Loans and advances made to employees	(151,000)	(35,000)
Payments received on employee receivables	42,000	35,000
Payments received on note receivable	38,000
Net cash used in investing activities	(1,817,000)	(3,374,000)
CASH FLOWS FROM FINANCING ACTIVITIES:
Principal payments on notes payable	(516,000)	(88,000)
Dividends paid	(814,000)	(811,000)
Proceeds from issuance of stock upon exercise of stock options	38,000
Excess tax benefits related to stock-based compensation	8,000
Distributions to non-controlling interests	(246,000)	(600,000)
Net cash used in financing activities	(1,530,000)	(1,499,000)
NET DECREASE IN CASH AND CASH EQUIVALENTS	(1,288,000)	(3,369,000)
CASH AND CASH EQUIVALENTS, Beginning of period	8,748,000	8,705,000
CASH AND CASH EQUIVALENTS, End of period	7,460,000	5,336,000
Cash paid during the period for:
Interest	19,000
Income taxes	34,000	51,000
Non-cash investing activity:
Tax benefit of purchase of member interests in subsidiary		1,020,000
Non-cash financing activity:
Accrued dividend	814,000
Subsidiary [Member]
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of member interests in subsidiary		(2,965,000)
New Meadowlands Racetrack LLC [Member]
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of member interest in New Meadowlands Racetrack LLC	(464,000)
The Rustic Inn [Member]
CASH FLOWS FROM INVESTING ACTIVITIES:
Initial payment on purchase of The Rustic Inn	$ (500,000)

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CONSOLIDATED CONDENSED BALANCE SHEETS (Parentheticals) (USD $) In Thousands, except Per Share data, unless otherwise specified	Dec. 28, 2013	Sep. 28, 2013
VIEs, Cash and cash equivalents	$ 634	$ 637
VIEs, Accounts receivable	338	317
VIEs, Inventories	16	16
VIEs, Prepaid and refundable income taxes	163	163
VIEs, Prepaid expenses and other current assets	12	13
VIEs, Fixed assets	77	89
VIEs, Other assets	71	71
VIEs, Accounts payable trade	61	70
VIEs, Accrued expenses and other current liabilities	368	140
VIEs, Operating lease deferred credit	$ 60
Common stock, par value (in Dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in Shares)	10,000	10,000
Common stock, shares issued (in Shares)	4,613	4,610
Common stock, shares outstanding (in Shares)	3,257	3,254
Treasury stock, shares (in Shares)	1,356	1,356

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STOCK OPTIONS

3 Months Ended

Dec. 28, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

10. STOCK OPTIONS

The Company has options outstanding under two stock option plans, the 2004 Stock Option Plan (the “2004 Plan”) and the 2010 Stock Option Plan (the “2010 Plan”), which was approved by shareholders in the second quarter of 2010. Effective with this approval, the Company terminated the 2004 Plan. This action terminated the 400 authorized but unissued options under the 2004 Plan, but it did not affect any of the options previously issued under the 2004 Plan. Options granted under the 2004 Plan are exercisable at prices at least equal to the fair market value of such stock on the dates the options were granted. The options expire ten years after the date of grant.

The 2010 Stock Option Plan is the Company’s only equity compensation plan currently in effect. Under the 2010 Stock Option Plan, 500,000 options were authorized for future grant. Options granted under the 2010 Plan are exercisable at prices at least equal to the fair market value of such stock on the dates the options were granted. The options expire ten years after the date of grant. 0 options were issued during the 13-week period ended December 28, 2013.

A summary of stock option activity is presented below:

	2014
	Shares			Weighted Average Exercise Price		Weighted Average Contractual Term		Aggregate Intrinsic Value
Outstanding, beginning of period		623,100		$	19.56		5.50 Years
Options:
Granted		—
Exercised		(3,000	)	$	12.83
Canceled or expired		—
Outstanding and expected to vest, end of year		620,100		$	19.73		5.25 Years	$	3,545,220
Exercisable, end of year		501,450		$	20.95		4.50 Years	$	2,587,715

Compensation cost charged to operations for both 13-week periods ended December 28, 2013 and December 29, 2012 was $80,000. The compensation cost recognized is classified as a general and administrative expense in the Consolidated Condensed Statements of Income.

As of December 28, 2013, there was approximately $142,000 of unrecognized compensation cost related to unvested stock options, which is expected to be recognized over a period of approximately six months.

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Document And Entity Information	3 Months Ended
	Dec. 28, 2013	Feb. 06, 2014
Document and Entity Information [Abstract]
Entity Registrant Name	ARK RESTAURANTS CORP
Document Type	10-Q
Current Fiscal Year End Date	--09-27
Entity Common Stock, Shares Outstanding		3,257,395
Amendment Flag	false
Entity Central Index Key	0000779544
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Smaller Reporting Company
Entity Well-known Seasoned Issuer	No
Document Period End Date	Dec. 28, 2013
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	Q1

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INCOME TAXES

3 Months Ended

Dec. 28, 2013

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

11. INCOME TAXES

The Company’s provision for income taxes consists of Federal, state and local taxes in amounts necessary to align the Company’s year-to-date provision for income taxes with the effective tax rate that the Company expects to achieve for the full year. The income tax provision on income from continuing operations for the 13-week periods ended December 28, 2013 and December 29, 2012 reflect effective tax rates of approximately 32%. The Company expects its effective tax rate for its current fiscal year to be significantly lower than the statutory rate as a result of the inclusion of tax credits and operating income attributable to the non-controlling interests of the VIEs that is not taxable to the Company. The final annual tax rate cannot be determined until the end of the fiscal year; therefore, the actual tax rate could differ from current estimates.

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CONSOLIDATED CONDENSED STATEMENTS OF INCOME (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended
	Dec. 28, 2013	Dec. 29, 2012
REVENUES:
Food and beverage sales	$ 31,756	$ 31,029
Other revenue	382	307
Total revenues	32,138	31,336
COSTS AND EXPENSES:
Food and beverage cost of sales	7,854	7,749
Payroll expenses	10,478	10,845
Occupancy expenses	4,401	4,535
Other operating costs and expenses	4,207	4,339
General and administrative expenses	2,850	2,410
Depreciation and amortization	1,147	1,176
Total costs and expenses	30,937	31,054
OPERATING INCOME	1,201	282
OTHER (INCOME) EXPENSE:
Interest expense	19
Interest income	(7)
Other income, net	(66)	(79)
Total other income, net	(54)	(79)
INCOME BEFORE PROVISION FOR INCOME TAXES	1,255	361
Provision for income taxes	399	114
CONSOLIDATED NET INCOME	856	247
Net income attributable to non-controlling interests	(293)	(239)
NET INCOME ATTRIBUTABLE TO ARK RESTAURANTS CORP.	$ 563	$ 8
NET INCOME PER ARK RESTAURANTS CORP. COMMON SHARE:
Basic (in Dollars per share)	$ 0.17	$ 0.00
Diluted (in Dollars per share)	$ 0.17	$ 0.00
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING:
Basic (in Shares)	3,256	3,245
Diluted (in Shares)	3,400	3,322

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NOTE RECEIVABLE

3 Months Ended

Dec. 28, 2013

Receivables [Abstract]

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

5. NOTE RECEIVABLE

On June 7, 2011, the Company entered into a 10-year exclusive agreement to manage a yet to be constructed restaurant and catering service at Basketball City in New York City in exchange for a fee of $1,000,000. Under the terms of the agreement the owner of the property was to construct the facility at their expense and the Company was to pay the owner an annual fee based on sales, as defined in the agreement. Since the owner had not delivered the facility to the Company within the specified timeframe, the parties executed a promissory note for repayment of the $1,000,000 exclusivity fee. The note bears interest at 4.0% per annum and is payable in 48 equal monthly installments of $22,579, which commenced on December 1, 2013.

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RECENT RESTAURANT DISPOSITIONS

3 Months Ended

Dec. 28, 2013

Recent Restaurant Dispositions [Abstract]

Recent Restaurant Dispositions [Text Block]

4. RECENT RESTAURANT DISPOSITIONS

On October 29, 2012, the Company suffered a flood at its Red and Sequoia properties located in New York, NY as a result of a hurricane. The Company did not reopen these properties as the underlying leases were due to expire in the second quarter of fiscal 2013. Losses related to the closure of these properties, in the amount of $256,000, are included in Other Operating Costs and Expenses in the Consolidated Condensed Statement of Income for the 13-weeks ended December 29, 2012.

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VARIABLE INTEREST ENTITIES (Tables)

3 Months Ended

Dec. 28, 2013

Variable Interest Entities [Abstract]

Schedule of Variable Interest Entities [Table Text Block]

Following are the required disclosures associated with the Company’s consolidated VIEs:

	December 28, 2013		September 28, 2013
	(in thousands)
Cash and cash equivalents	$	634	$	637
Accounts receivable		338		317
Inventories		16		16
Prepaid income taxes		163		163
Prepaid expenses and other current assets		12		13
Due from Ark Restaurants Corp. and affiliates (1)		160		157
Fixed assets, net		77		89
Other long-term assets		71		71
Total assets	$	1,471	$	1,463
Accounts payable	$	61	$	70
Accrued expenses and other liabilities		368		140
Operating lease deferred credit		60		—
Total liabilities		489		210
Equity of variable interest entities		982		1,253
Total liabilities and equity	$	1,471	$	1,463

(1) Amounts Due from Ark Restaurants Corp. and affiliates are eliminated upon consolidation.

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INCOME PER SHARE OF COMMON STOCK

3 Months Ended

Dec. 28, 2013

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

12. INCOME PER SHARE OF COMMON STOCK

Net income per share is calculated on the basis of the weighted average number of common shares outstanding during each period plus, for diluted net income per share, the additional dilutive effect of potential common stock. Potential common stock using the treasury stock method consists of dilutive stock options.

For the 13-week period ended December 28, 2013, options to purchase 156,300 shares of common stock at an exercise price of $12.04 per share and options to purchase 237,300 shares of common stock at an exercise price $14.40 per share were included in diluted earnings per share. Options to purchase 136,500 shares of common stock at an exercise price of $29.60 per share and options to purchase 90,000 shares of common stock at an exercise price of $32.15 per share were not included in diluted earnings per share as their impact was anti-dilutive.

For the 13-week period ended December 29, 2012, options to purchase 165,100 shares of common stock at a price of $12.04 and options to purchase 245,500 shares of common stock at a price of $14.40 were included in diluted earnings per share. Options to purchase 139,000 shares of common stock at a price of $29.60 and options to purchase 90,000 shares of common stock at a price of $32.15 per share were not included in diluted earnings per share as their impact was antidilutive.

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ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

3 Months Ended

Dec. 28, 2013

Disclosure Text Block Supplement [Abstract]

Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]

8. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Accrued expenses and other current liabilities consist of the following:

	December 28, 2013		September 28, 2013
	(In thousands)
Sales tax payable	$	1,156	$	783
Accrued wages and payroll related costs		1,205		1,435
Customer advance deposits		2,759		3,356
Accrued occupancy, gift cards and other operating expenses		4,180		3,701
	$	9,300	$	9,275

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INVESTMENT IN NEW MEADOWLANDS RACETRACK

3 Months Ended

Dec. 28, 2013

Disclosure Text Block Supplement [Abstract]

Cost and Equity Method Investments Disclosure [Text Block]

6. INVESTMENT IN NEW MEADOWLANDS RACETRACK

On March 12, 2013, the Company made a $4,200,000 investment in the New Meadowlands Racetrack LLC (“NMR”) through its purchase of a membership interest in Meadowlands Newmark, LLC, an existing member of NMR. On November 19, 2013, the Company invested an additional $464,000 in NMR through a purchase of an additional membership interest in Meadowlands Newmark, LLC resulting in a total ownership of 11.6%. This investment has been accounted for based on the cost method and is included in Other Assets in the accompanying Consolidated Condensed Balance Sheets at December 28, 2013 and September 28, 2013. The Company periodically reviews its investments for impairment. If the Company determines that an other-than-temporary impairment has occurred, it will write-down the investment to its fair value. No indication of impairment was noted as of December 28, 2013.

In conjunction with this investment, the Company, through a 97% owned subsidiary, Ark Meadowlands LLC (“AM VIE”), also entered into a long-term agreement with NMR to provide food and beverage management services for the new racing facilities constructed at the Meadowlands Racetrack in northern New Jersey. Despite the ownership percentage the company only participates in 5% of the profits and has no capital at risk. At December 28, 2013, it was determined that this entity is a variable interest entity. However, based on qualitative consideration of the contracts with AM VIE, the operating structure of AM VIE, the Company’s role with AM VIE, and that the Company is not obligated to absorb any expected losses of AM VIE, the Company has concluded that it is not the primary beneficiary and not required to consolidate the operations of AM VIE.

Our maximum exposure to loss as a result of our involvement with AM VIE is limited to our receivable from AM VIE’s primary beneficiary (NMR, a related party) which aggregated approximately $321,000 at December 28, 2013 and is included in Prepaid Expenses and Other Current Assets in the Consolidated Condensed Balance Sheet.

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NOTES PAYABLE

3 Months Ended

Dec. 28, 2013

Notes Payable For Treasury Stock Repurchase [Abstract]

Notes Payable For Treasury Stock Repurchase [Text Block]

7. NOTES PAYABLE

Treasury Stock Repurchase – On December 12, 2011, the Company, in a private transaction, purchased 250,000 shares of its common stock at a price of $12.50 per share, or a total of $3,125,000. Upon the closing of the purchase, the Company paid the seller $1,000,000 in cash and issued an unsecured promissory note to the seller for $2,125,000. The note bears interest at 0.19% per annum, and is payable in 24 equal monthly installments of $88,541, commencing on December 1, 2012. As of December 28, 2013, the outstanding note payable balance was approximately $974,000.

Bank – On February 25, 2013, the Company issued a promissory note, secured by all assets of the Company, to a bank for $3,000,000. The note bears interest at LIBOR plus 3.0% per annum, and is payable in 36 equal monthly installments of $83,333, commencing on March 25, 2013. As of December 28, 2013, the outstanding balance of this note payable was approximately $2,167,000. The agreement provides, among other things, that the Company meet minimum quarterly tangible net worth amounts, as defined, and minimum annual net income amounts, and contains customary representations, warranties and affirmative covenants. The agreement also contains customary negative covenants, subject to negotiated exceptions, on liens, relating to other indebtedness, capital expenditures, liens, affiliate transactions, disposal of assets and certain changes in ownership. The Company was in compliance with all debt covenants as of December 28, 2013.

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COMMITMENTS AND CONTINGENCIES

3 Months Ended

Dec. 28, 2013

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure [Text Block]

9. COMMITMENTS AND CONTINGENCIES

Leases — The Company leases its restaurants, bar facilities, and administrative headquarters through its subsidiaries under terms expiring at various dates through 2032. Most of the leases provide for the payment of base rents plus real estate taxes, insurance and other expenses and, in certain instances, for the payment of a percentage of the restaurants sales in excess of stipulated amounts at such facility and in one instance based on profits.

Legal Proceedings — In the ordinary course of its business, the Company is a party to various lawsuits arising from accidents at its restaurants and worker’s compensation claims, which are generally handled by the Company’s insurance carriers. The employment by the Company of management personnel, waiters, waitresses and kitchen staff at a number of different restaurants has resulted in the institution, from time to time, of litigation alleging violation by the Company of employment discrimination laws. Management believes, based in part on the advice of counsel, that the ultimate resolution of these matters will not have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows.

Other — On November 22, 2013, the Company, through a wholly-owned subsidiary, Ark Rustic Inn LLC, entered into an Asset Purchase Agreement with W and O, Inc. to purchase the Rustic Inn Crab House, a restaurant and bar in Dania Beach, Florida, for $7,500,000 plus inventory. The acquisition is scheduled to close on or before February 28, 2014, subject to satisfactory completion of due diligence, execution of employment and non-competition agreements, Florida Liquor Authority approval and customary closing conditions. In connection with the signing of this agreement the Company made an initial deposit toward the purchase in the amount of $500,000 which is included in Other Assets in the Consolidated Condensed Balance Sheet at December 28, 2013. The balance of the purchase price is expected to be financed with bank borrowings.

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ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - Schedule of Accrued expenses and other current liabilities (USD $) In Thousands, unless otherwise specified	Dec. 28, 2013	Sep. 28, 2013
Schedule of Accrued expenses and other current liabilities [Abstract]
Sales tax payable	$ 1,156	$ 783
Accrued wages and payroll related costs	1,205	1,435
Customer advance deposits	2,759	3,356
Accrued occupancy, gift cards and other operating expenses	4,180	3,701
	$ 9,300	$ 9,275

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SUBSEQUENT EVENTS

3 Months Ended

Dec. 28, 2013

Subsequent Events [Abstract]

Subsequent Events [Text Block]

14. SUBSEQUENT EVENTS

On January 31, 2014, the Company, through a wholly-owned subsidiary, Ark Jupiter RI, LLC, entered into an agreement with Crab House, Inc., to purchase the assets of a restaurant and bar in Jupiter, Florida for $250,000, of which a $50,000 initial deposit was made. The purchase is subject to, among other things, the landlord’s consent to the assignment and assumption of the lease and execution and delivery of an amendment to the lease which is satisfactory to Ark.

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CONSOLIDATED CONDENSED FINANCIAL STATEMENTS (Details)	3 Months Ended
	Dec. 28, 2013	Dec. 29, 2012
CONSOLIDATED CONDENSED FINANCIAL STATEMENTS (Details) [Line Items]
Number of Significant Vendors	1	2
Restaurants and Bars [Member]
CONSOLIDATED CONDENSED FINANCIAL STATEMENTS (Details) [Line Items]
Number of Operating Segments	20
Fast Food Concepts and Catering Operations [Member]
CONSOLIDATED CONDENSED FINANCIAL STATEMENTS (Details) [Line Items]
Number of Operating Segments	22
Supplier Concentration Risk [Member]
CONSOLIDATED CONDENSED FINANCIAL STATEMENTS (Details) [Line Items]
Supplier Concentration Risk Description	the Company made purchases from one vendor that accounted for approximately 12% of total purchases.	the Company made purchases from two vendors that accounted for approximately 22% of total purchases.
Concentration Risk, Percentage	12.00%	22.00%

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SUBSEQUENT EVENTS (Details) (Subsequent Event [Member], USD $)	1 Months Ended
	Jan. 31, 2014
Subsequent Event [Member]
SUBSEQUENT EVENTS (Details) [Line Items]
Property, Plant and Equipment, Additions	$ 250,000
Intial Payment Under Purchase Agreement	$ 50,000

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CONSOLIDATED CONDENSED STATEMENTS OF CHANGES IN EQUITY (USD $) In Thousands, except Share data	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Parent [Member]	Noncontrolling Interest [Member]	Total
BALANCE at Sep. 29, 2012	$ 46	$ 23,410	$ 22,372	$ (13,220)	$ 32,608	$ 4,179	$ 36,787
BALANCE (in Shares) at Sep. 29, 2012	4,601,000
Net income			8		8	239	247
Purchase of member interests in subsidiary		(2,685)			(2,685)	(280)	(2,965)
Tax benefit of purchase of member interests in subsidiary		1,020			1,020		1,020
Stock-based compensation		80			80		80
Distributions to non-controlling interests						(600)	(600)
Payment of dividends - $0.25 per share			(811)		(811)		(811)
BALANCE at Dec. 29, 2012	46	21,825	21,569	(13,220)	30,220	3,538	33,758
BALANCE (in Shares) at Dec. 29, 2012	4,601,000
BALANCE at Sep. 28, 2013	46	22,978	22,950	(13,220)	32,754	2,594	35,348
BALANCE (in Shares) at Sep. 28, 2013	4,610,000
Net income			563		563	293	856
Exercise of stock options		38			38		38
Exercise of stock options (in Shares)	3,000						3,000
Tax benefit on exercise of stock options		8			8		8
Stock-based compensation		80			80		80
Distributions to non-controlling interests						(246)	(246)
Payment of dividends - $0.25 per share			(814)		(814)		(814)
BALANCE at Dec. 28, 2013	$ 46	$ 23,104	$ 22,699	$ (13,220)	$ 32,629	$ 2,641	$ 35,270
BALANCE (in Shares) at Dec. 28, 2013	4,613,000

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RECENT RESTAURANT EXPANSION

3 Months Ended

Dec. 28, 2013

Recent Restaurant Expansion [Abstract]

Recent Restaurant Expansion [Text Block]

3. RECENT RESTAURANT EXPANSION

On November 28, 2012, a subsidiary of the Company entered into an agreement to design and lease a restaurant at the Tropicana Hotel and Casino in Atlantic City, NJ. The cost to construct this restaurant was approximately $1,750,000. The initial term of the lease for this facility expires June 7, 2023 and has two five-year renewals. The restaurant, Broadway Burger Bar, opened during the third quarter of fiscal 2013.

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VARIABLE INTEREST ENTITIES (Details)	Dec. 28, 2013
Variable Interest Entities [Abstract]
Number of VIEs with Primary Benefits	3

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INCOME TAXES (Details)	3 Months Ended
	Dec. 28, 2013	Dec. 29, 2012
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	32.00%	32.00%

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DIVIDENDS

3 Months Ended

Dec. 28, 2013

Dividends [Abstract]

Dividends [Text Block]

13. DIVIDENDS

On December 4, 2013, the Board of Directors declared a quarterly dividend of $0.25 per share on the Company’s common stock to be paid on December 30, 2013 to shareholders of record at the close of business on December 16, 2013. The Company intends to continue to pay such quarterly cash dividend for the foreseeable future, however, the payment of future dividends is at the discretion of the Company’s Board of Directors and is based on future earnings, cash flow, financial condition, capital requirements, changes in U.S. taxation and other relevant factors.