Does the Pearce Bespoke FDD disclose any other bankruptcy information besides Nathan Pearce's?
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, Item 4 addresses bankruptcy information. The document discloses that Nathan Pearce, the Chief Executive Officer, filed for bankruptcy under Chapter 7 of the U.S. Bankruptcy Code on May 3, 2017, and received a discharge in October 2017.
Beyond Nathan Pearce's bankruptcy, the Pearce Bespoke FDD explicitly states that no other bankruptcy information is required to be disclosed in Item 4. This means the document does not provide details on any bankruptcies involving other individuals or entities associated with the franchise, such as parents, predecessors, or affiliates, beyond what is already disclosed about Nathan Pearce.
Prospective franchisees should be aware that while the FDD discloses the CEO's past bankruptcy, it does not offer a comprehensive history of bankruptcies related to the franchise's broader network. If a franchisee wants to know more, they should consider asking Pearce Bespoke directly about the financial history of its parent companies, predecessors, and affiliates to gain a more complete understanding of the brand's financial background.