Are the financial statements of Walker Parent, Inc. audited in the Bojangles FDD?
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)
Yes, according to Bojangles' 2025 Franchise Disclosure Document, the audited financial statements of Walker Parent, Inc. and its subsidiaries are included. Specifically, the FDD includes the consolidated 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. These audited financials are attached as Exhibit N and are included for disclosure purposes.
It's important to note that while Walker Parent, Inc.'s financials are included, neither Walker Parent nor BRI (another subsidiary) is a party to any Franchise Agreement or Development Agreement with Bojangles franchisees. Additionally, neither entity guarantees any obligations under these agreements. This means that while the financial health of Walker Parent, Inc. is disclosed, the direct contractual relationship and guarantees lie with Bojangles Restaurants, Inc.
Prospective franchisees should review these audited financial statements carefully to understand the financial position of Walker Parent, Inc., the ultimate parent company. However, they should also focus on the financial stability and obligations of Bojangles Restaurants, Inc., as this is the entity they will be directly contracting with. Understanding the relationship between these entities is crucial for assessing the overall risk and stability of the franchise investment.