When was the Chapter 7 bankruptcy of Ryan O'Quinn, the Managing Member of Bombs Away, discharged?
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
Source: Item 4 — Bankruptcy (FDD pages 8–9)
What This Means (2024 FDD)
According to Bombs Away's 2024 Franchise Disclosure Document, Ryan O'Quinn, the Managing Member, filed Chapter 7 personal bankruptcy in the Northern District of California (Case No: 1850878) on April 20, 2018. The bankruptcy was discharged on July 17, 2018, and the case was closed on July 18, 2018.
This disclosure is important for prospective franchisees as it provides transparency about the financial history of the key individuals managing Bombs Away. A prior bankruptcy doesn't necessarily disqualify someone from managing a franchise company, but it is a factor that potential franchisees may want to consider.
Franchise candidates might want to inquire about the circumstances that led to the bankruptcy and what measures have been taken to ensure sound financial management moving forward. This information can help in assessing the stability and reliability of Bombs Away's leadership.