Besides Bojangles' financial statements, what other financial statements are included in Exhibit N?
Bojangles Franchise · 2025 FDDAnswer from 2025 FDD Document
Attached as Exhibit N are our audited financial statements as of December 29, 2024 and December 31, 2023 and for the years ended December 29, 2024, December 31, 2023 and December 25, 2022.
Also attached as Exhibit N are the audited consolidated financial statements of Walker Parent, Inc. and subsidiaries as of December 29, 2024 and December 31, 2023 and for the years ended December 29, 2024, December 31, 2023 and December 25, 2022. These financials are being included for disclosure purposes only. As reflected in Item 1, BRI, which is also a subsidiary of Walker Parent and Bojangles', Inc., is our Manager and will perform certain services on our behalf, including post-sale support and services to franchisees, under a Management Agreement with us. Neither BRI nor Walker Parent is a party to any Franchise Agreement or Development Agreement that we sign with franchisees, nor guarantees any of our obligations under any Franchise Agreement or Development Agreement that we sign with franchisees.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 82)
What This Means (2025 FDD)
According to Bojangles' 2025 Franchise Disclosure Document, Exhibit N includes both Bojangles Opco, LLC's audited financial statements and the audited consolidated financial statements of Walker Parent, Inc. and subsidiaries. The financial statements for Bojangles Opco, LLC are provided as of December 29, 2024, and December 31, 2023, and for the years ended December 29, 2024, December 31, 2023, and December 25, 2022.
The inclusion of Walker Parent, Inc.'s financial statements is for disclosure purposes only. This is because BRI, another subsidiary of Walker Parent and Bojangles', Inc., manages Bojangles and provides post-sale support and services to franchisees under a management agreement.
However, it's important to note that neither BRI nor Walker Parent is a party to any Franchise Agreement or Development Agreement with franchisees, nor do they guarantee any of Bojangles' obligations under these agreements. This distinction is crucial for prospective franchisees to understand the roles and responsibilities of each entity within the Bojangles franchise system.