Does the Brain Balance FDD disclose any other bankruptcy information besides Rebecca Jackson's?
Brain_Balance Franchise · 2025 FDDAnswer from 2025 FDD Document
U.S. Bankruptcy Court Eastern District of North Carolina, Raleigh Division, Bankruptcy Petition Case No. 30-0289805-DMW. On August 21, 2020, Rebecca R. Jackson and her spouse filed a voluntary petition as debtors for Chapter 7 bankruptcy protection in the state of North Carolina. Rebecca Jackson is the Chief Program Officer of the franchisor. Her business address is 1320 North Route 59, Unit 110, Naperville, IL 60563. The court issued a discharge of debtors on February 23, 2021.
Except as stated, no bankruptcy information is required to be disclosed in this item.
Source: Item 4 — BANKRUPTCY (FDD page 12)
What This Means (2025 FDD)
According to Brain Balance's 2025 Franchise Disclosure Document, Item 4 addresses bankruptcy disclosures. Besides the disclosed bankruptcy case of Rebecca R. Jackson, the Chief Program Officer of the franchisor, the document states that no other bankruptcy information is required to be disclosed in Item 4.
Specifically, the FDD mentions that on August 21, 2020, Rebecca R. Jackson and her spouse filed a voluntary petition as debtors for Chapter 7 bankruptcy protection in the state of North Carolina. The court issued a discharge of debtors on February 23, 2021. Her business address is 1320 North Route 59, Unit 110, Naperville, IL 60563.
This statement implies that no other individuals associated with the Brain Balance franchise, such as its directors, officers, or other key personnel, have a bankruptcy record that requires disclosure under Item 4 of the FDD. As a potential franchisee, it is important to note that while the FDD discloses required information, it may not provide a complete picture of the financial history of everyone associated with the franchise. Therefore, conducting independent research and due diligence is advisable.