What was the reason cited for Timothy Weiderhoft's bankruptcy filing, potentially impacting Bft?
Bft Franchise · 2025 FDDAnswer from 2025 FDD Document
In Re Timothy Paul Weiderhoft and Dena Rose Weiderhoft (Case No. 2:23-bk-05397-BKM; Bankruptcy Court, District of Arizona). On August 9, 2023, Xponential's Chief Operating Officer of North America, Timothy Weiderhoft, and his wife filed a personal Chapter 7 bankruptcy petition after an unrelated restaurant venture failed in light of the COVID-19 pandemic. A discharge was granted by the bankruptcy court on December 20, 2023. Mr. Weiderhoft's principal business address is our principal business address.
Source: Item 4 — BANKRUPTCY (FDD page 18)
What This Means (2025 FDD)
According to Bft's 2025 Franchise Disclosure Document, Timothy Weiderhoft, the Chief Operating Officer of North America for Bft, filed for personal Chapter 7 bankruptcy on August 9, 2023. The filing was a result of the failure of an unrelated restaurant venture, which was impacted by the COVID-19 pandemic. The bankruptcy court granted a discharge on December 20, 2023.
This information is relevant to potential Bft franchisees as it discloses the financial history of a key member of the management team. While the bankruptcy was personal and stemmed from a separate business, it is a material fact that Bft discloses in its FDD.
Prospective franchisees should consider this information as part of their due diligence, assessing whether this past financial difficulty could impact Mr. Weiderhoft's performance or decision-making within Bft. However, the FDD indicates that the bankruptcy was discharged, suggesting that Mr. Weiderhoft has resolved the financial issues that led to the filing.