Does the Brain Balance FDD provide details of the debts discharged in Rebecca Jackson's bankruptcy?
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 filings of certain individuals connected with the franchise. The document states that Rebecca R. Jackson, the Chief Program Officer of Brain Balance, and her spouse filed for Chapter 7 bankruptcy protection on August 21, 2020. The filing occurred in the U.S. Bankruptcy Court, Eastern District of North Carolina, Raleigh Division, with Case No. 30-0289805-DMW. The court issued a discharge of debtors on February 23, 2021.
However, the FDD explicitly states that, beyond the filing and discharge, no further bankruptcy information is disclosed in Item 4. This means the document does not provide details regarding the specific debts that were discharged as part of Rebecca Jackson's bankruptcy case. A prospective franchisee would not be able to review the types or amounts of debts involved based solely on the information in the FDD.
Given this lack of detail, a potential Brain Balance franchisee who is concerned about the implications of Rebecca Jackson's bankruptcy on the franchise might want to directly ask the franchisor for more information. While the FDD provides the fact of the bankruptcy and discharge, it withholds specifics that could be relevant to assessing the financial stability or management practices of the company. It is common for FDDs to disclose bankruptcies of key personnel, but the level of detail can vary significantly.