While it may be old fashioned, it is used in American English as slang from time to time because of it being used in movie(s) The Hobbit and/or The Lord of the Rings!

It’s an old-fashioned expression used in England because people used to (and maybe still do) take a break around 11am for a drink or snack. A drink and maybe a biscuit or cake etc

A snack around 11am. In other words Brunch. Something between morning breakfast and midday lunch.

You still hear the word. I just think people these days tend to snack all day (graze) or eat brunch!