What is the bankruptcy case number for Willy Mathew, Bambu's Director of Franchise Services?
Bambu Franchise · 2025 FDDAnswer from 2025 FDD Document
Our Director of Franchise Services, Willy Mathew, filed a bankruptcy petition jointly with his wife under the reorganization provisions of Chapter 13 of the U.S. Bankruptcy Code on January 30, 2015. In re Wily M. Mathew and Caren N. Musembi, No. 15-03080 (Northern District of Illinois). On June 7, 2019, the debtors were dismissed from the case for failure to make plan payments and the bankruptcy case was dismissed on August 8, 2019. Mr. Mathew's current business address is the same as ours.
Other than this action, no bankruptcy information is required to be disclosed in this Item.
Source: Item 4 — Bankruptcy (FDD page 13)
What This Means (2025 FDD)
According to Bambu's 2025 Franchise Disclosure Document, Willy Mathew, the Director of Franchise Services, filed a joint bankruptcy petition with his wife on January 30, 2015, under Chapter 13 of the U.S. Bankruptcy Code. The case number is In re Wily M. Mathew and Caren N. Musembi, No. 15-03080 (Northern District of Illinois). The debtors were dismissed from the case on June 7, 2019, due to failure to make plan payments, and the bankruptcy case was dismissed on August 8, 2019. Mr. Mathew's current business address is the same as Bambu's.
The disclosure of a key employee's bankruptcy is a standard practice in franchise disclosure documents. This information allows potential franchisees to assess the financial background of individuals in leadership positions within Bambu. While the bankruptcy occurred several years ago and was ultimately dismissed, prospective franchisees might want to inquire about the circumstances surrounding the bankruptcy and how Bambu has addressed any potential impact on Mr. Mathew's role and responsibilities.
It is important to note that the FDD states that no other bankruptcy information is required to be disclosed in Item 4, indicating that no other relevant parties associated with Bambu have recent or ongoing bankruptcy proceedings that require disclosure under the regulations. This information helps prospective franchisees evaluate the financial stability and background of the individuals associated with Bambu.