How many company-operated Checkers restaurants were closed in 2023?
Checkers Franchise · 2025 FDDAnswer from 2025 FDD Document
"CDI", the "Company", "we", "our", or "us"), operates and franchises quick service restaurants in the United States under two similar operating brands, Checkers and Rally's.
The following table summarizes the number and mix of Company-operated and franchised restaurants in operation at the end of each period presented:
| January 1, 2024 (Successor) Zero Successor) For the Periods Ended January 2, January 3, 2022 (Predecessor) Zero Successor) Zero Successor) Zero Successor) Zero Successor) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| · · | 2023 | 2022 | ||||||||
| Company-operated restaurants | ||||||||||
| Beginning of period | 255 | 266 | 264 | |||||||
| New | 2 | - | 3 | |||||||
| Acquired from franchisee | 4 | 3 | 3.7 | |||||||
| Sold to franchisee | 91 | (9) | 7 | |||||||
| Closed | (19) | (5) | (1) | |||||||
| End of period | 238 | 255 | 266 | |||||||
| Franchisee-operated restaurants | · ' | |||||||||
| Beginning of period | 585 | 585 | 594 | |||||||
| New | 22 | 28 | 26 | |||||||
| Acquired from the Company | 9 | _ | ||||||||
| Sold to the Company | (3) | - | ||||||||
| Closed | (60) |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 91)
What This Means (2025 FDD)
According to Checkers' 2025 Franchise Disclosure Document, 5 company-operated restaurants were closed during the period ended January 1, 2024, which represents activity in 2023. This is a notable decrease compared to the one closure in the previous period ended January 2, 2023.
In addition to company-operated closures, 34 franchisee-operated restaurants were closed during the same period. This is a decrease from the 35 franchisee-operated restaurants closed in the prior year.
Overall, these figures provide a snapshot of the changes in the Checkers restaurant network, with both company-operated and franchisee-operated locations experiencing closures and other transitions such as acquisitions and sales. A prospective franchisee should consider these trends in the context of the brand's overall growth strategy and market conditions.