On what date was Willy Mathew's bankruptcy case dismissed regarding 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, jointly filed a bankruptcy petition with his wife on January 30, 2015, under Chapter 13 of the U.S. Bankruptcy Code. The case was referenced as 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. Subsequently, the bankruptcy case was officially dismissed on August 8, 2019. The FDD notes that Mr. Mathew's current business address is the same as Bambu's.
This disclosure is important for prospective franchisees as it provides transparency regarding the financial background of one of Bambu's key personnel. While the bankruptcy occurred several years ago and was ultimately dismissed, it is essential for franchisees to be aware of such information when making investment decisions. Franchisees may want to inquire about the circumstances surrounding the bankruptcy and any potential impact it may have had on Mr. Mathew's role within the company.