What was the total value of Bojangles' current liabilities on December 31, 2023?
Bojangles Franchise · 2025 FDDAnswer from 2025 FDD Document
e judgment made by a reasonable user based on the financial statements.
In performing an audit in accordance with US GAAS, we:
- Exercise professional judgment and maintain professional skepticism throughout the audit.
- Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
- Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control. Accordingly, no such opinion is expressed.
- Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.
- Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern for a reasonable period of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified during the audit.
Charlotte, North Carolina
April 15, 2025
Bojangles Opco, LLC Balance Sheets December 29, 2024 and December 31, 2023
| (dollars in thousands)
Source: Item 22 — CONTRACTS (FDD page 82)
What This Means (2025 FDD)
According to Bojangles's 2025 Franchise Disclosure Document, the company's total current liabilities as of December 31, 2023, were $59,324,000. This figure represents the sum of several short-term financial obligations, including accounts payable, accrued expenses, amounts due to related parties, current operating lease liabilities, current maturities of finance lease obligations and current deferred revenue.
For a prospective franchisee, understanding the current liabilities of Bojangles is crucial as it provides insight into the company's short-term financial health and obligations. A high level of current liabilities relative to current assets could indicate potential liquidity issues, which might affect Bojangles's ability to support its franchisees or invest in the brand. Conversely, a manageable level of current liabilities suggests financial stability and efficient management of short-term obligations.
It's important to note that this figure is just a snapshot in time and can fluctuate due to various factors, such as seasonal sales, changes in payment terms with suppliers, and strategic decisions regarding debt and lease management. Therefore, prospective franchisees should review Bojangles's financial statements over several periods to identify trends and assess the company's long-term financial health. Additionally, comparing these figures to industry benchmarks can provide further context and help franchisees evaluate the relative financial strength of Bojangles compared to its competitors.
Furthermore, potential franchisees should also consider the commitments and contingencies referenced in Note 8 and 10 of the financial statements, as these could have a material impact on Bojangles's future financial performance and stability. Consulting with a financial advisor or accountant is recommended to fully understand the implications of these financial figures and make informed decisions about investing in a Bojangles franchise.