On what date did the bankruptcy court enter a discharge for Nathan Pearce, CEO of Pearce Bespoke?
Pearce_Bespoke Franchise · 2025 FDDAnswer from 2025 FDD Document
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 a personal bankruptcy petition under Chapter 7 of the U.S. Bankruptcy Code on May 3, 2017. The bankruptcy court entered a discharge in October 2017. The document does not provide a specific date in October.
This disclosure is important for prospective franchisees as it provides transparency about the financial background of the company's CEO. While a past bankruptcy does not necessarily indicate current financial instability, it is a factor that potential franchisees may want to consider when evaluating the leadership and stability of Pearce Bespoke.
It is common for franchise agreements to disclose bankruptcy filings of key personnel. Prospective franchisees should conduct their own due diligence, including consulting with financial advisors and legal counsel, to assess the implications of this information for their investment decision. They may also want to inquire with the franchisor for more details.