What was the reported amount of accounts payable for Churchs Chicken in 2021?
Churchs_Chicken Franchise · 2025 FDDAnswer from 2025 FDD Document
| Assets | - | 2021 | 1010 | |
|---|---|---|---|---|
| Current assets: | ||||
| Cash and cash equivalents | S | 3,551 | $ | 4,189 |
| Restricted cash | 2,058 | 2,163 | ||
| Accounts receivable, net | 8,210 | 6,351 | ||
| Inventory | 820 | 735 | ||
| Prepaid expenses and other | 468 | 4.493 | ||
| Due from member | 75,691 | 58,588 | ||
| Total current assets | 90,798 | 76,519 | ||
| Long-term assets: | ||||
| Property and equipment, net | 111,791 | 120,042 | ||
| Finance lease right-of-use assets | 13,266 | 7,131 | ||
| Operating lease right-of-use assets | 24,572 | 24,221 | ||
| Trademarks and other intangible assets, net | 285,311 | 294,128 | ||
| Goodwill | 26,390 | 30,160 | ||
| Other assets, net | 1,247 | 1,389 | ||
| Total long-term assets | - | 462,577 | 477,071 | |
| Total assets | S | 553,375 | S | 553,590 |
| Liabilities and members' equity | ||||
| Current liabilities: | ||||
| Accounts payable | S | 6,232 | S | 8,348 |
Source: Item 11 — FRANCHISOR'S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS AND TRAINING (FDD pages 35–43)
What This Means (2025 FDD)
According to Churchs Chicken's 2025 Franchise Disclosure Document, the accounts payable for 2021 was $6,232. This figure is part of the consolidated financial statements for Cajun Global LLC and its subsidiaries, which include Churchs Chicken. Accounts payable represents the short-term liabilities or obligations Churchs Chicken owes to its suppliers and other creditors.
For a prospective franchisee, understanding the accounts payable is crucial as it reflects the company's short-term financial health and its ability to manage its current liabilities. A high accounts payable balance relative to its assets could indicate potential liquidity issues, while a lower balance might suggest efficient management of its obligations.
It is important to note that this figure is part of a larger financial picture, and potential franchisees should review the entire set of consolidated financial statements and accompanying notes to fully understand Churchs Chicken's financial condition. This includes examining trends in accounts payable over multiple years, as well as comparing these figures to industry benchmarks to assess the company's performance relative to its peers.