What was the total debt for Capriottis Sandwich Shop as of December 31, 2023?
Capriottis_Sandwich_Shop Franchise · 2025 FDDAnswer from 2025 FDD Document
| December 31, 2023 | December 25, 2022 | |
|---|---|---|
| Liabilities and Deficit | ||
| Current Liabilities Accounts payable Accrued expenses and other current liabilities Current portion of operating lease obligations Deferred revenue Current maturities of long-term debt | $ 1,928,720 4,093,632 544,606 2,543,164 1,107,044 | |
| Total Current Liabilities | 10,216,178 | 9,386,823 |
| Long-Term Liabilities Long-term debt, less current maturities Operating lease obligations, net of current | 8,853,735 4,379,797 | 8,704,016 4,716,678 |
| Total Liabilities | 23,449,710 | 22,807,517 |
| Commitments and Contingencies |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 73)
What This Means (2025 FDD)
According to Capriottis Sandwich Shop's 2025 Franchise Disclosure Document, the company's total liabilities as of December 31, 2023, were $23,449,710. This figure represents the sum of current liabilities and long-term liabilities.
Specifically, the current liabilities, which are debts due within one year, totaled $10,216,178. This includes accounts payable, accrued expenses, the current portion of operating lease obligations, deferred revenue, and current maturities of long-term debt. The long-term liabilities, which are debts extending beyond one year, amounted to $8,853,735 for long-term debt less current maturities, and $4,379,797 for operating lease obligations net of current portions.
For a prospective Capriottis Sandwich Shop franchisee, understanding the franchisor's debt structure is crucial. A high level of debt could indicate financial instability, which might affect the franchisor's ability to support its franchisees. It is important to compare these figures with previous years and industry benchmarks to assess the financial health and stability of Capriottis Sandwich Shop.