As of what date are the combined consolidated balance sheets for Hardees Restaurants LLC included in Exhibit K?
Hardees Franchise · 2025 FDDAnswer from 2025 FDD Document
Attached to this disclosure document as Exhibit K are the audited combined consolidated financial statements of the CKE Securitization Entities (Carl's Jr. Restaurants LLC, Carl's Jr. SPV Guarantor LLC, Carl's Jr. Funding LLC, Hardee's Restaurants LLC, Hardee's SPV Guarantor LLC and Hardee's Funding LLC), which comprise (1) the combined consolidated balance sheets as of January 27, 2025 and January 29, 2024, and the related combined consolidated statements of income, members' deficit, and cash flows for the fiscal years then ended, and the related notes to the combined consolidated financial statements; and (2) the combined consolidated balance sheets as of January 29, 2024 and January 30, 2023, and the related combined consolidated statements of income, members' deficit, and cash flows for the fiscal years then ended, and the related notes to the combined consolidated financial statements.
Source: Item 21 — Financial Statements (FDD pages 84–85)
What This Means (2025 FDD)
According to Hardees's 2025 Franchise Disclosure Document, Exhibit K includes the audited combined consolidated financial statements of CKE Securitization Entities, which includes Hardee's Restaurants LLC. These statements comprise combined consolidated balance sheets as of January 27, 2025, and January 29, 2024.
These balance sheets offer a snapshot of the company's assets, liabilities, and equity at these specific points in time. This information is crucial for prospective franchisees as it provides insights into the financial health and stability of Hardees and its related entities. Reviewing these balance sheets can help potential franchisees assess the company's ability to meet its financial obligations and manage its resources effectively.
In addition to the balance sheets, Exhibit K also includes the related combined consolidated statements of income, members' deficit, and cash flows for the fiscal years then ended, along with notes to the combined consolidated financial statements. Furthermore, the exhibit contains audited consolidated financial statements for CKE Restaurants Holdings, Inc., Hardees's indirect corporate parent, for similar periods. This comprehensive financial reporting offers a detailed view of the financial performance and position of both Hardees and its parent company, enabling prospective franchisees to make informed decisions.