What is the bankruptcy case number for Ryan O'Quinn, the Managing Member of Bombs Away?
Bombs_Away Franchise · 2024 FDDAnswer from 2024 FDD Document
Our Managing Member, Mr. Ryan O'Quinn filed Chapter 7 personal bankruptcy; Northern District CA; Ryan O'Quinn – Case No: 1850878.
Filed 4/20/18; discharged 7/17/18; closed 7/18/18
Outside of this, no bankruptcy information is required to be disclosed in this Item.
Source: Item 4 — Bankruptcy (FDD pages 8–9)
What This Means (2024 FDD)
According to Bombs Away's 2024 Franchise Disclosure Document, the Managing Member, Ryan O'Quinn, filed Chapter 7 personal bankruptcy in the Northern District of California. The bankruptcy case number is 1850878. The filing date was April 20, 2018. The bankruptcy was discharged on July 17, 2018, and closed on July 18, 2018.
This disclosure is important for prospective franchisees as it provides insight into the financial history of the individual leading Bombs Away. While a past bankruptcy does not automatically disqualify someone from managing a franchise company, it is something potential franchisees may want to consider and discuss with the franchisor. Understanding the circumstances surrounding the bankruptcy can help a franchisee assess the stability and trustworthiness of the leadership.
Franchisors are legally obligated to disclose bankruptcy filings of their key executives within a specific timeframe to ensure transparency. This information allows potential franchisees to make informed decisions based on a complete picture of the franchisor's background. It is advisable for prospective franchisees to conduct their own due diligence, including seeking legal and financial advice, to fully evaluate the implications of such disclosures.