Flanigan's Reports On Damage And Business Interruption Caused By Hurricane Irma

FORT LAUDERDALE, Fla., Sept. 19, 2017

All locations owned and/or operated by the Company, including franchises, sustained minimal damage, but all locations lost electric power for varying periods of time.   With few exceptions, the majority of damages consisted of minimal roof damage, lost mansard shingles or tiles, awnings, signage and landscaping. 

By September 14, 2017, four (4) days after Hurricane Irma passed, all locations owned and/or operated by the Company, including franchises, were open for business, with four (4) locations operating on generators.

The Company maintains standard and customary property insurance coverage, as well as coverage for business interruption.  These coverages are subject to certain exclusions related to damages caused by windstorm and deductibles.  At this point, the Company does not believe that it will have any claims for damages or business interruption in excess of its deductibles that would ultimately be covered by insurance.

The Company also does not believe that Hurricane Irma will have a material adverse effect upon restaurant food and bar revenues or retail package revenues for the current fiscal quarter. 

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SOURCE Flanigan's Enterprises, Inc.