Note Q - Related Parties

12 Months Ended

Sep. 24, 2022

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

NOTE Q – Related Parties

We have related party expenses for distribution and shipping related costs with NFI Industries, Inc. Our director, Sidney R. Brown, is CEO of NFI Industries, Inc. In the fiscal years ended 2022 and 2021, the Company paid NFI $29.5 million and $0.2 million, respectively. Of the amounts paid to NFI, the amount related to management services performed by NFI was $0.6 million in fiscal year 2022 and $0.2 million in fiscal year 2021. The remainder of the costs related to amounts that were passed through to the third-party distribution and shipping vendors that are being managed on the Company’s behalf by NFI. The agreements with NFI include terms that are consistent with those that we believe would have been negotiated at an arm’s length with an independent party. As of September 24, 2022 our consolidated balance sheet included related party trade payables of approximately $2.9 million. We had no related party trade payable balance as of September 25, 2021.