On what date was Willy Mathew dismissed from his bankruptcy case related to Bambu?
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.
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, and his wife filed for bankruptcy under Chapter 13 of the U.S. Bankruptcy Code on January 30, 2015. The bankruptcy case, In re Wily M. Mathew and Caren N. Musembi, No. 15-03080, was filed in the Northern District of Illinois.
The debtors, Willy Mathew and his wife, were dismissed from the case on June 7, 2019, due to failure to make plan payments. Subsequently, the bankruptcy case was officially dismissed on August 8, 2019.
This disclosure is important for prospective franchisees as it provides transparency regarding the financial background of key personnel within the Bambu organization. While a past bankruptcy does not necessarily disqualify an individual from holding a position of responsibility, it is a factor that potential franchisees may consider when evaluating the overall stability and management of the franchise system.