Was there a gain on insurance settlement for Camp Margaritaville in 2022?
Camp_Margaritaville Franchise · 2025 FDDAnswer from 2025 FDD Document
ayments against the delayed draws of $435,000 and $180,000 in 2024 and 2023, respectively.
The debt facility includes subordinated debt associated with related-party entities. The balance of the related-party note payable was $9,805,332
Source: Item 23 — RECEIPTS (FDD pages 72–406)
What This Means (2025 FDD)
According to Camp Margaritaville's 2025 Franchise Disclosure Document, the debt facility term loan required annual principal payments of $1,050,000 through 2027. The document states that these principal payments were considered paid in full upon receipt of insurance proceeds in 2023.
While the receipt of insurance proceeds occurred in 2023, the excerpt does not specify whether there was a gain on insurance settlement in 2022. The information provided only indicates that the insurance proceeds received in 2023 covered the remaining principal payments on the debt facility term loan.
To determine if Camp Margaritaville had a gain on insurance settlement in 2022, a prospective franchisee should review the company's financial statements for that year or ask the franchisor directly for clarification.