Does the text specify if the financial statements of Checkersrallys include a balance sheet?
Checkersrallys Franchise · 2025 FDDAnswer from 2025 FDD Document
We have audited the consolidated financial statements of Checkers Drive-In Restaurants, Inc. and Subsidiaries (the "Company"), which comprise the consolidated balance sheet as of December 30, 2024 (Successor) and the related consolidated statement of operations, changes in stockholders' equity, and cash flows for the year then ended, and the related notes to the consolidated financial statements.
We have audited the consolidated financial statements of Checkers Drive-In Restaurants, Inc. and subsidiaries (the Company), which comprise the consolidated balance sheets as of January 1, 2024 (Successor) and January 2, 2023 (Predecessor), and the related consolidated statements of operations, stockholder's equity (deficit) and cash flows for the periods June 17, 2023 through January 1, 2024 (Successor) and January 3, 2023 (Predecessor), and the fiscal years ended January 2, 2023 (Predecessor) and January 3, 2022 (Predecessor), and the related notes (collectively referred to as the "financial statements").
Accounts receivable for the NPF and CDSI are included in the accounts and notes receivable, net in the accompanying consolidated balance sheets.
As a result, the Company continues to recognize the restaurant properties on its consolidated balance sheets and has recorded the proceeds received from the buyer-lessor as a financial liability. As of December 30, 2024 (Successor), and January 1, 2024 (Successor), there were approximately $7.9 million and $7.9 million, respectively, of financing obligations recorded within the accompanying consolidated balance sheets.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 91)
What This Means (2025 FDD)
According to the 2025 Checkersrallys Franchise Disclosure Document, the consolidated financial statements include a balance sheet. Specifically, the independent auditor's report states that they have audited the consolidated balance sheet of Checkers Drive-In Restaurants, Inc. and Subsidiaries as of December 30, 2024. The report also mentions consolidated statements of operations, changes in stockholders' equity, and cash flows for the year then ended, along with related notes.
Additionally, the report from Ernst & Young LLP states that they audited the consolidated financial statements of Checkers Drive-In Restaurants, Inc. and subsidiaries, which include the consolidated balance sheets as of January 1, 2024, and January 2, 2023. These financial statements also comprise the consolidated statements of operations, stockholder's equity (deficit), and cash flows for specified periods, along with related notes.
Furthermore, the notes to the consolidated financial statements refer to accounts receivable for the NPF and CDSI being included in the accounts and notes receivable, net in the accompanying consolidated balance sheets. The company also recognizes restaurant properties on its consolidated balance sheets and has recorded financing obligations within these balance sheets.