Is Bombs Away required to disclose any other bankruptcy information besides Mr. O'Quinn's?
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 company is only required to disclose the bankruptcy information of its Managing Member, Mr. Ryan O'Quinn. Mr. O'Quinn filed Chapter 7 personal bankruptcy in the Northern District of California, Case No: 1850878. The filing date was 4/20/18, the discharge date was 7/17/18, and the case was closed on 7/18/18.
The FDD explicitly states that no other bankruptcy information is required to be disclosed in Item 4, besides Mr. O'Quinn's. This means that Bombs Away is not obligated to disclose any bankruptcies of other executives, directors, or affiliated companies.
As a prospective franchisee, it is important to note that while Bombs Away has disclosed the bankruptcy of its managing member, they are not required to disclose any other bankruptcy filings. If you have concerns about the financial stability or history of other individuals or entities associated with Bombs Away, you may want to conduct your own independent research or seek legal counsel.