How long does a Bee Organized franchisee have to discharge an involuntary bankruptcy petition?
Bee_Organized Franchise · 2025 FDDAnswer from 2025 FDD Document
- (d) An involuntary petition in bankruptcy is filed against Franchisee and Franchisee fails to have the involuntary petition discharged within 35 days of the petition filing, and/or Franchisee seeks, consents to, or acquiesces in, the appointment of any trustee, receiver, conservator, custodian or liquidator for Franchisee's business or any assets of Franchisee;
Source: Item 23 — RECEIPTS (FDD pages 54–218)
What This Means (2025 FDD)
According to Bee Organized's 2025 Franchise Disclosure Document, a franchisee has 35 days to discharge an involuntary bankruptcy petition. If a franchisee fails to discharge the involuntary petition within this timeframe, it can be considered a breach of the franchise agreement.
This requirement means that if an involuntary bankruptcy petition is filed against a Bee Organized franchisee, they must take immediate action to resolve the matter within 35 days. Failure to do so could lead to consequences such as termination of the franchise agreement.
It is important for prospective Bee Organized franchisees to understand this requirement and have a plan in place to address any potential financial difficulties that could lead to an involuntary bankruptcy petition. This may include seeking financial advice and maintaining open communication with the franchisor.