Nathan’s Famous appoints new independent accounting firm

Nathan’s Famous, Inc. (NASDAQ:NATH), a renowned fast-food company with a market capitalization of $410 million, has announced a change in its independent accounting firm. The company, which InvestingPro analysis suggests is slightly overvalued at current levels, disclosed on Thursday that Marcum LLP, its previous auditor, has resigned and CBIZ (NYSE:CBZ) CPAs P.C. has been appointed as the new auditor.

The transition occurred after CBIZ CPAs P.C. acquired Marcum’s attest business on November 1, 2024. The change was effective as of Thursday, following Marcum’s resignation and the subsequent approval by Nathan’s Famous’ Audit Committee. The company maintains strong financial health, with InvestingPro data showing a healthy current ratio of 2.94 and moderate debt levels.

According to the filing, Marcum’s reports on Nathan’s Famous’ financial statements for the fiscal years ending March 31, 2024, and March 26, 2023, did not contain any adverse opinion or disclaimer of opinion. Additionally, there were no disagreements on accounting principles or practices, financial statement disclosure, or auditing scope or procedures that would have required Marcum to mention such disagreements in their reports.

The company also confirmed that there were no reportable events, as defined by SEC regulations, during the fiscal years in question and up until the date of Marcum’s resignation. Furthermore, Nathan’s Famous did not consult with CBIZ CPAs P.C. on any accounting principles or contemplated transactions that would have significantly impacted the company’s financial statements.

In compliance with SEC regulations, Nathan’s Famous provided Marcum with the contents of this announcement prior to filing. Marcum has agreed with the statements made by the company, as evidenced by a letter addressed to the SEC dated February 20, 2025, which has been filed as an exhibit to the Current Report on Form 8-K.

This corporate update is based on the recent SEC filing by Nathan’s Famous, Inc. and provides investors with the latest information on the company’s financial management oversight. The company has demonstrated strong market performance, with a 50% return over the past year and currently trading near its 52-week high of $102.50. For deeper insights into Nathan’s Famous’ financial health and growth prospects, including additional exclusive ProTips, visit InvestingPro.

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