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Related Party Transactions
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6 Months Ended |
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Jul. 14, 2013
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| Related Party Transactions | |
| Related Party Transactions |
9. Related Party Transactions
The former president and majority owner of one of the Company’s former franchisees served on the Company’s board of directors from 2009 until his retirement from the board in May 2013. The Company purchased 13 Red Robin® restaurants in Washington from this former franchisee in 2006. The retired board member is a principal of and holds, directly or indirectly, interests of between 45% and 100% in each of three privately-held entities that hold the leases for three of the acquired Washington restaurants. These leases were assumed by the Company in connection with the acquisition. Under these leases and during the time the retired board member was an active director of the board, the Company recognized rent and other related payments in the amounts of $0.2 million and $0.5 million for the twelve and twenty-eight weeks ended July 14, 2013 and $0.3 million and $0.7 million for the twelve and twenty-eight weeks ended July 8, 2012, respectively. |
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- Definition
The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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