BDL - Flanigan´s Enterprises

[Snorky]

Hello Board,

 

im invested in this Micro-/Smallcap and wonder if anyone is still holding/watching this.

 

 

Company profile:

 

Flanigan'S Enterprises Inc operates as a chain of small cocktail lounges and packages liquor stores throughout South Florida. Its menu consists of the wide variety of options including prime rib, steaks, pasta, entree salads, burgers, a variety of sandwiches, and oversized signature desserts. The business activity is principally conducted in two segments namely Restaurant and Package liquor store segment. Its Restaurant segment offers alcoholic beverages and full food service and Package stores consists of retail liquor sales and related items. The company generates revenue from the sale of food, non-alcoholic beverages, alcoholic beverages and others.

 

Valuation/Thesis

 

I am a little bit lazy right now, so i sum up the main fact. I like the FCF/EV Ratio. The exact height cannot be determined exactly. EV amounts to around FCF 50 million, adjusted for the growth capex should be around 5 million.  Unfortunately, it is not clear from the quarterly reports how much capex is used for maintenance and how much for growth. Maybe a native speaker can help me here?

 

My superficial research has shown that the shops are very popular and the food/drink there should be very good. Maybe someone from the area can report?

 

Overall, I would be pleased about your opinions.

 

[DTEJD1997]

Hello:

 

yes, I was invested in this years ago, bought around $4/share, sold around $6/share.  A good trade, but like so many of my others, I missed the real move.  This would have been about 10 years ago, 8 years ago?

 

The primary reason I got out was that there was all sorts of related party transactions going on with the real estate under the restaurants and liquor store locations.  Some of these transactions were "silly" in favor of the insiders.

 

I figured that if this was what I could see & figure out...there is probably other things going on also.

 

They also had some sort of "management contract" with a strip club in Atlanta?

 

Obviously the company has done reasonably well since then...but I would be very careful.

[Foreign Tuffett]

Awesome, a new name for the ultimate vice portfolio.

 

$MO - tobacco

 

$CXW - private prisons

 

$BDL - liquor stores

 

$FB - Instagram escorts and butt models

 

$WYNN - casinos

 

$RTN - blowing **** up on behalf of the US government

 

$0500 (HKG) - private military company

 

$RGR - firearms

 

$BUD - beer

 

$RICK - strip clubs