What is the ending date for the financial period ending in 2023 for Checkersrallys?
Checkersrallys Franchise · 2025 FDDAnswer from 2025 FDD Document
Due to the presentation of the Successor and Predecessor periods, the period ended January 1, 2024 refers to the period from June 17, 2023 to January 1, 2024 (Successor). The period ended June 16, 2023 refers to the period from January 3, 2023 to June 16, 2023 (Predecessor). The period ended January 2, 2023 (Predecessor) refers to the 52-week period ended January 2, 2023. The period ended January 3, 2022 (Predecessor) refers to the 53-week period ended January 3, 2022.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 91)
What This Means (2025 FDD)
According to Checkersrallys's 2025 Franchise Disclosure Document, the financial period ending in 2023 ended on January 2, 2023. The FDD clarifies that the period ended January 2, 2023 (Predecessor) refers to the 52-week period ended January 2, 2023. This is important for prospective franchisees as they review Checkersrallys's financial statements.
Understanding the specific dates covered by the financial statements is crucial for analyzing the company's performance. The distinction between 'Successor' and 'Predecessor' periods arises from a Recapitalization Agreement, which affects how the financial data is presented. The 'Predecessor' period relates to the time before the agreement, while the 'Successor' period reflects the time after.
For a potential Checkersrallys franchisee, this means carefully noting which period (Successor or Predecessor) each financial statement covers to accurately assess the company's financial health and trends. Paying attention to these details ensures a clear understanding of Checkersrallys's financial history and current standing.