What is the significance of December 29 2024 in the Churchs Chicken FDD table?
Churchs_Chicken Franchise · 2025 FDDAnswer from 2025 FDD Document
| De | cember 29, 2024 | De | cember 31, 2023 | |
|---|---|---|---|---|
| Series 2021-1 Class A-2 senior notes with anticipated repayment date of November 20, 2026, at a fixed rate of 3.9% | s | 218,250 | s | 218,250 |
| Series 2021-1 Class A-1 senior secured variable | ||||
| funding notes with anticipated repayment date of | ||||
| November 20, 2026 | 11,542 | 19,542 | ||
| 2004 financing transaction due December 28, 2024 | _ | 34,267 | ||
| 2004 financing transaction due December 28, 2029 | 52,606 | 53,687 | ||
| 2004 financing transaction due December 28, 2034 | 26,457 | |||
| 2008 financing transaction due January 28, 2028 | 1,599 | 1,673 | ||
| Other financing transactions | 6,408 | 4,709 | ||
| Total debt obligations before deferred financing costs | 316,862 | 332,128 | ||
| Less: deferred financing costs | (2,644) | (4,069) | ||
| Total debt obligations | S | 314,218 |
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, December 29, 2024, and December 31, 2023, are used as dates for comparison of financial obligations. As of December 29, 2024, the Series 2021-1 Class A-2 senior notes with an anticipated repayment date of November 20, 2026, at a fixed rate of 3.9% remained at $218,250, the same as on December 31, 2023. The Series 2021-1 Class A-1 senior secured variable funding notes with an anticipated repayment date of November 20, 2026, were $11,542 on December 29, 2024, compared to $19,542 on December 31, 2023.
Additionally, the 2004 financing transaction due December 28, 2024, is listed as zero on December 29, 2024, compared to $34,267 on December 31, 2023, suggesting this transaction was either paid off or refinanced. The 2004 financing transaction due December 28, 2029, was $52,606 on December 29, 2024, compared to $53,687 on December 31, 2023. The 2004 financing transaction due December 28, 2034, was $26,457 on December 29, 2024, with no corresponding value listed for December 31, 2023.
The 2008 financing transaction due January 28, 2028, was $1,599 on December 29, 2024, compared to $1,673 on December 31, 2023. Other financing transactions totaled $6,408 on December 29, 2024, compared to $4,709 on December 31, 2023. The total debt obligations before deferred financing costs were $316,862 on December 29, 2024, compared to $332,128 on December 31, 2023. After deducting deferred financing costs, the total debt obligations were $314,218 on December 29, 2024, and $328,059 on December 31, 2023.
These figures provide a snapshot of Churchs Chicken's debt obligations and how they have changed over the course of the year. A prospective franchisee should analyze these figures to understand the financial health and stability of the franchisor. Significant changes in debt levels or the terms of financing could indicate potential risks or opportunities for the franchisee.