Why are Walker Parent, Inc.'s financial statements included with 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)
According to Bojangles's 2025 Franchise Disclosure Document, the audited consolidated financial statements of Walker Parent, Inc. and subsidiaries are included as Exhibit N for disclosure purposes only. Walker Parent is the parent company of Bojangles', Inc. and BRI. BRI, another subsidiary of Walker Parent, is Bojangles's Manager and provides post-sale support and services to franchisees under a Management Agreement.
It's important to note that neither BRI nor Walker Parent is a party to any Franchise Agreement or Development Agreement that Bojangles signs with franchisees. Additionally, neither BRI nor Walker Parent guarantees any of Bojangles's obligations under any Franchise Agreement or Development Agreement.
In essence, the inclusion of Walker Parent, Inc.'s financial statements provides additional financial transparency, but it does not change the contractual relationship between Bojangles as the franchisor and its franchisees. Franchisees should be aware that their agreements are solely with Bojangles, and neither BRI nor Walker Parent has direct contractual obligations or guarantees related to the franchise agreement.