Does the Bombs Away FDD provide details of any other bankruptcies besides that of Ryan O'Quinn?
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 the 2024 Bombs Away FDD, the only bankruptcy information that is required to be disclosed is that of the Managing Member, Mr. Ryan O'Quinn. His Chapter 7 personal bankruptcy, filed in the Northern District of California, Case No: 1850878, was filed on April 20, 2018, discharged on July 17, 2018, and closed on July 18, 2018.
Beyond the Managing Member's bankruptcy, the FDD explicitly states that no other bankruptcy information is required to be disclosed in Item 4. This means that the document does not provide details on any bankruptcies of other individuals or entities associated with Bombs Away.
As a prospective franchisee, it is important to note that while the FDD discloses the Managing Member's bankruptcy, it does not offer a comprehensive history of bankruptcies related to the franchise. Therefore, it would be prudent to conduct your own due diligence and consider asking Bombs Away for additional information regarding any other bankruptcies that may be relevant to your investment decision.