What was the total value of current liabilities for CKE Restaurants Holdings, Inc. and Subsidiaries, as reported on the Hardees balance sheet?
Hardees Franchise · 2025 FDDAnswer from 2025 FDD Document
okers.** Under the Washington Franchise Investment Protection Act, a "franchise broker" is defined as a person that engages in the business of the offer or sale of franchises. A franchise broker represents the franchisor and is paid a fee for referring prospects to the franchisor and/or selling the franchise. If a franchisee is working with a franchise broker, franchisees are advised to carefully evaluate any information provided by the franchise broker about a franchise.
| The undersigned parties do hereby acknowledge receipt of this Addendum. | |
|---|---|
| Dated this day of 20 | |
| Signature of Franchisor Representative | Signature of Franchisee Representative |
| Title of Franchisor Representative | Title of Franchisee Representative |
ITEM 21
FINANCIAL STATEMENTS
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;
Source: Item 21 — Financial Statements (FDD pages 84–85)
What This Means (2025 FDD)
I am unable to provide the exact figure for the total current liabilities of CKE Restaurants Holdings, Inc. and Subsidiaries, as presented in the Hardees 2025 Franchise Disclosure Document. While the document mentions that the audited consolidated financial statements, including balance sheets, are included as Exhibit K, the specific values for current liabilities are not detailed within the provided excerpts.
Item 21 of the FDD discusses the financial statements of both the CKE Securitization Entities and CKE Restaurants Holdings, Inc. It confirms that consolidated balance sheets are included for January 27, 2025, and January 29, 2024. These balance sheets would contain the figures for current liabilities. The auditor's report from KPMG LLP confirms that they have audited these balance sheets and that they present fairly the financial position of CKE Restaurants Holdings, Inc.
A prospective Hardees franchisee should review Exhibit K of the 2025 FDD to find the specific balance sheets and the line item for total current liabilities. If this exhibit is not included or the information is still unclear, they should directly ask Hardees for clarification on the current liabilities of CKE Restaurants Holdings, Inc. and Subsidiaries.