On what date did Ryan O'Quinn, the Managing Member of Bombs Away, file for Chapter 7 bankruptcy?
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 for Chapter 7 personal bankruptcy on April 20, 2018. The filing occurred in the Northern District of California, and the case number is 1850878. 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 managing the Bombs Away franchise. While the bankruptcy was personal and occurred several years ago, it is essential for franchisees to consider the financial stability and experience of the leadership when making investment decisions.
It is typical for franchise disclosure documents to include information about bankruptcies of key personnel to ensure transparency. Franchisees should evaluate this information in the context of the overall franchise opportunity, including the brand's performance, support systems, and growth potential. Consulting with a financial advisor can help assess the implications of this information.