When was Mr. Ryan O'Quinn's Chapter 7 bankruptcy case closed, as it relates to Bombs Away?

According to Bombs Away's 2024 Franchise Disclosure Document, Mr. Ryan O'Quinn, the Managing Member, filed a Chapter 7 personal bankruptcy case in the Northern District of California, identified as Case No: 1850878. The case was filed on April 20, 2018. It was discharged on July 17, 2018, and closed on July 18, 2018. This information is disclosed in Item 4 of the FDD, which covers bankruptcy-related disclosures for the franchisor and its key personnel.

For a prospective franchisee, this disclosure is important because it provides transparency about the financial background of the individuals leading Bombs Away. While a past bankruptcy does not automatically disqualify a franchisor or its management, it is something a potential franchisee should consider as part of their due diligence. It is advisable to inquire about the circumstances surrounding the bankruptcy and what measures have been taken to ensure the financial stability of Bombs Away.

Franchise regulations require franchisors to disclose bankruptcy filings by key personnel to ensure transparency and allow potential franchisees to make informed decisions. This disclosure allows franchisees to assess the financial acumen and stability of the franchisor's leadership. It is common practice for franchisors to provide this information in the FDD, enabling prospective franchisees to evaluate the risks and benefits associated with investing in the franchise.