Ark Restaurants Q3 Revenue Drops 6.5%, Bryant Park Ejectment Looms
ARKR is trading near its 52-week low of $5.58 (4.8% above the low) on light trading volume (0.3× avg).
Summary
Ark Restaurants reported Q3 revenue of $40.9M, down 6.5% year-over-year, with same-store sales declining 6.6%. Adjusted EBITDA collapsed to $358K from $1.79M a year ago, and the company posted a net loss of $(0.10) per share. The Bryant Park lease dispute remains critical: a June 26 ejectment judgment threatens its flagship NYC venues, though a damages trial is now set with a pre-trial conference on September 22. Cash of $9.5M and debt of $7.1M provide some cushion, but the core NYC operations face existential risk. This follows the June 26 8-K disclosing the adverse court ruling; today's release adds the quarterly financial toll and the trial timeline.
Updates
· SEC 10-Q — The 10-Q states the court-ordered stay of ejectment is expected to expire on or about October 16, 2026, and the company will be required to vacate Bryant Park Grill, Café, and Porch unless the decision is reversed or further relief is obtained.
At the time of this announcement, ARKR was trading at $5.85 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $21.1M. The 52-week trading range was $5.58 to $10.46. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: BusinessWire.