What were the other restaurant operating expenses for Checkers for the period January 1, 2023 through January 1, 2024?
Checkers Franchise · 2025 FDDAnswer from 2025 FDD Document
| Successor | Predecessor | |||||||
|---|---|---|---|---|---|---|---|---|
| Year Ended December 30, 2024 | Period from June 17, 2023 through January 1, 2024 | Period from January 3, 2023 through June 16, 2023 | ||||||
| Revenues | ||||||||
| Restaurant sales | $ | 255,474 | $ | 141,217 | $ | 130,191 | ||
| Franchise and retail royalty revenue | 35,389 | 18,608 | 15,385 | |||||
| Franchise fees and other income | 9,518 | 5,317 | 4,061 | |||||
| Total revenues | 300,381 | 165,142 | 149,637 | |||||
| Costs and expenses | ||||||||
| Restaurant food and paper costs | 81,660 | 45,102 | 41,194 | |||||
| Restaurant labor costs | 79,230 | 44,446 | 38,348 | |||||
| Restaurant occupancy costs | 22,378 | 11,778 | 11,145 | |||||
| Restaurant depreciation | 5,871 | 2,524 | 7,529 | |||||
| Other restaurant operating expenses | 34,053 | 20,357 | 17,423 | |||||
| General and administrative expenses | 39,215 | 19,435 | 36,471 | |||||
| Franchise support and service expenses | 5,226 | 3,634 | 1,696 | |||||
| Advertising expense | 14,397 | 8,077 | 6,810 | |||||
| Other depreciation and amortization | 3,441 | 2,093 | 900 | |||||
| Restaurant retirement costs | 139 | 300 | 596 | |||||
| Impairment of long-lived assets | 2,384 | 623 | 66,633 | |||||
| Net loss on disposal of fixed assets | 64 | 670 | 839 | |||||
| Total costs and expenses | 288,058 | 159,039 | 229,584 | |||||
| Operating income (loss) | 12,323 | 6,103 | (79,947) | |||||
| Other income (expense) | ||||||||
| Interest expense | (15,789) | (8,134) | (18,326) | |||||
| Other income (expense) | 3 | 1 | (375) | |||||
| Total other (expense) income | (15,786) | (8,133) | (18,701) | |||||
| Loss before income tax expense (benefit) | (3,463) | (2,030) | (98,648) | |||||
| Income tax expense (benefit) | (24,723) | 540 | (7,542) | |||||
| Net income (loss) | $ | 21,260 | $ | (2,570) | $ | (91,106) |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 91)
What This Means (2025 FDD)
According to Checkers' 2025 Franchise Disclosure Document, other restaurant operating expenses are detailed in the consolidated statements of operations. However, due to a Recapitalization Agreement, the company presents a successor period from June 17, 2023, through January 1, 2024, and a predecessor period from January 3, 2023, through June 16, 2023. Therefore, to determine the total other restaurant operating expenses for the period of January 1, 2023, through January 1, 2024, the expenses from both periods must be combined.
For the period from June 17, 2023, through January 1, 2024 (Successor), Checkers' other restaurant operating expenses were $20,357. For the period from January 3, 2023, through June 16, 2023 (Predecessor), the other restaurant operating expenses were $17,423.
Combining these two figures, the total other restaurant operating expenses for Checkers from January 1, 2023, to January 1, 2024, was $37,780. This information is derived from the company's consolidated financial statements, which were audited by independent certified public accountants.