What was the remaining amount of Revolver after the conversion to Restatement Date Term Loans for Checkersrallys?

According to Checkersrallys's 2025 Franchise Disclosure Document, Holdings Restated Credit Agreement converted $19.9 million in aggregate principal amount of Revolver into Restatement Date Term Loans maturing April 25, 2022. After this conversion, the remaining amount of Revolver was $5.1 million. The maturity date of the Restatement Date Term Loans and Revolver was later extended to April 25, 2023, within fiscal year 2021.

This information is relevant to a prospective Checkersrallys franchisee because it provides insight into the company's debt structure and how it has been managed. Understanding the terms and amendments to Checkersrallys's credit agreements can help a franchisee assess the financial stability and flexibility of the company.

The conversion of a portion of the Revolver into Term Loans and the subsequent extension of the maturity dates suggest that Checkersrallys has been actively managing its debt obligations. This could be seen as a positive sign, indicating that the company is taking steps to ensure its long-term financial health. However, it is important for a prospective franchisee to consider the implications of these debt obligations on the company's ability to invest in growth and support its franchisees.

Prospective franchisees should consult with a financial advisor to fully understand the implications of Checkersrallys's debt structure and how it might impact their investment. They may also want to ask Checkersrallys for more information about its plans for managing its debt obligations in the future.