What was the case number for Nathan Pearce's bankruptcy filing related to Pearce Bespoke?
Pearce_Bespoke Franchise · 2025 FDDAnswer from 2025 FDD Document
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ITEM 4 BANKRUPTCY
In re Pearce, Case No. 17-50881 (U.S. Bankruptcy Court for the Southern District of Mississippi, October 2, 2017). Our Chief Executive Officer, Nathan Pearce, personally filed a bankruptcy petition under Chapter 7 of the U.S. Bankruptcy Code on May 3, 2017. The bankruptcy court entered a discharge in October 2017.
Source: Item 4 — BANKRUPTCY (FDD page 9)
What This Means (2025 FDD)
According to the 2025 Pearce Bespoke Franchise Disclosure Document, Nathan Pearce, the Chief Executive Officer, filed for bankruptcy under Chapter 7 of the U.S. Bankruptcy Code on May 3, 2017. The bankruptcy court case number was 17-50881, and the case was held in the U.S. Bankruptcy Court for the Southern District of Mississippi. The court discharged the bankruptcy in October 2017.
For a potential Pearce Bespoke franchisee, this information is relevant as it provides insight into the financial history of the company's CEO. While a past bankruptcy does not automatically disqualify an individual from leading a company, it is something that prospective franchisees may want to consider and discuss with Pearce Bespoke. Understanding the circumstances surrounding the bankruptcy and the measures taken to ensure the financial stability of the franchise could be important for making an informed decision.
It is important to note that the FDD states that no other bankruptcy information is required to be disclosed beyond what is already mentioned. This suggests that Pearce Bespoke is providing all necessary details regarding bankruptcy as legally required. However, a prospective franchisee might still want to conduct their own due diligence and seek legal or financial advice to fully assess the implications of the CEO's past bankruptcy on the franchise opportunity.