During the 10-year period before the offering circular date, has All Team or its affiliates filed for bankruptcy?
All_Team Franchise · 2025 FDDAnswer from 2025 FDD Document
Neither the franchisor, its affiliate, its predecessor, officers, or general partner during the 10-year period immediately before the date of the offering circular: (a) filed as debtor (or had filed against it) a petition to start an action under the U.S. Bankruptcy Code; (b) obtained a discharge of its debts under the bankruptcy code; or (c) was a principal officer of a company or a general partner in a partnership that either filed as a debtor (or had filed against it) a petition to start an action under the U.S. Bankruptcy Code or that obtained a discharge of its debts under the U.S. Bankruptcy Code during or within 1 year after that officer or general partner of the franchisor held this position in the company or partnership.
Source: Item 22 — CONTRACTS (FDD pages 33–34)
What This Means (2025 FDD)
According to All Team's 2025 Franchise Disclosure Document, neither All Team, its affiliates, predecessors, officers, nor general partners have filed for bankruptcy in the past 10 years. This extends to not having a bankruptcy petition filed against them, obtaining a discharge of debts under bankruptcy code, or being a principal officer/general partner in a company/partnership that underwent bankruptcy proceedings during or within one year of their tenure.
This statement provides reassurance to potential franchisees. Bankruptcy filings can indicate financial instability and potential risks for the franchise system. The absence of such filings suggests a more stable and reliable business environment.
It is important for prospective franchisees to independently verify this information through their own due diligence. While the FDD provides important disclosures, franchisees should also consult with financial advisors and legal professionals to assess the overall financial health and stability of All Team.