What is the relationship between Mark King's business experience, as detailed in Item 2, and the bankruptcy filings mentioned in Item 4?
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.
No other bankruptcy is required to be disclosed in this Item.
What This Means (2025 FDD)
According to the 2025 Bft Franchise Disclosure Document, there is no direct relationship between Mark King's business experience and the bankruptcy filing disclosed in Item 4. Item 2 details Mark King's extensive experience, including his current role as Chief Executive Officer of Bft since November 2024 and his previous position as Chief Executive Officer of Taco Bell from August 2019 to December 2023.
Item 4 discloses a personal Chapter 7 bankruptcy petition filed by Xponential's Chief Operating Officer of North America, Timothy Weiderhoft, and his wife on August 9, 2023, due to an unrelated restaurant venture failure. The bankruptcy court granted a discharge on December 20, 2023. Mr. Weiderhoft's principal business address is the same as Bft's.
The FDD makes no connection between Mark King's experience and this bankruptcy filing. The bankruptcy filing is attributed to Timothy Weiderhoft's unrelated business venture and is disclosed due to his position within Xponential, Bft's parent company. The document states that no other bankruptcy is required to be disclosed in Item 4.