Does Item 4 of the Pearce Bespoke FDD contain information about any other individuals filing for bankruptcy?
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 filings. The document states that the Chief Executive Officer, Nathan Pearce, filed a bankruptcy petition under Chapter 7 of the U.S. Bankruptcy Code on May 3, 2017, with a discharge entered in October 2017.
Beyond the disclosure of Nathan Pearce's bankruptcy, Item 4 explicitly states that no other bankruptcy information is required to be disclosed in that section. This means the FDD does not provide details on any other individuals, such as officers, directors, or other related parties, who may have filed for bankruptcy.
Prospective franchisees should be aware that this disclosure is limited to the information presented in Item 4. If a franchisee wants to know about other potential bankruptcy filings by individuals associated with Pearce Bespoke, they should consider asking the franchisor directly for additional information during their due diligence process.