According to Exit's 2025 Franchise Disclosure Document, Item 4 addresses bankruptcy information for both the subfranchisor, EXIT Realty Upper Midwest, and the franchisor, EXIT Realty Corp. International. The document explicitly states that no bankruptcy information is required to be disclosed for either entity in this particular item. This means that, as of the FDD's publication, there is no record of bankruptcy that Exit is legally obligated to share with potential franchisees.

For a prospective Exit franchisee, this indicates that neither the franchisor nor the subfranchisor has a bankruptcy history that needs to be disclosed. However, it is important to note that this only reflects the situation up to the date of the FDD. A potential franchisee might still want to independently investigate the financial background and stability of both EXIT Realty Corp. International and EXIT Realty Upper Midwest to ensure they are making an informed decision.

While the FDD states no bankruptcy information is required to be disclosed in Item 4, it does not guarantee that the companies have never faced financial difficulties. It simply means that there were no bankruptcy proceedings that met the threshold for disclosure at the time the FDD was prepared. Therefore, it would be prudent for a prospective franchisee to conduct their own due diligence, which may include consulting with financial advisors and legal counsel, to assess the overall financial health of the franchisor and subfranchisor.