Does Pearce Bespoke have any pending administrative actions alleging a felony?
Pearce_Bespoke Franchise · 2025 FDDAnswer from 2025 FDD Document
- The following is added at the end of Item 3:
Except as provided above, with regard to the franchisor, its predecessor, a person identified in Item 2, or an affiliate offering franchises under the franchisor's principal trademark:
- A. No such party has an administrative, criminal or civil action pending against that person alleging: a felony, a violation of a franchise, antitrust, or securities law, fraud, embezzlement, fraudulent conversion, misappropriation of property, unfair or deceptive practices, or comparable civil or misdemeanor allegations.
- B. No such party has pending actions, other than routine litigation incidental to the business, which are significant in the context of the number of franchisees and the size, nature or financial condition of the franchise system or its business operations.
- C. No such party has been convicted of a felony or pleaded nolo contendere to a felony charge or, within the 10 year period immediately preceding the application for registration, has been convicted of or pleaded nolo contendere to a misdemeanor charge or has been the subject of a civil action alleging: violation of a franchise, antifraud, or securities law; fraud; embezzlement; fraudulent conversion or misappropriation of property; or unfair or deceptive practices or comparable allegations.
- D. No such party is subject to a currently effective injunctive or restrictive order or decree relating to the franchise, or under a Federal, State, or Canadian franchise, securities, antitrust, trade regulation or trade practice law, resulting from a concluded or pending action or proceeding brought by a public agency; or is subject
Source: Item 22 — CONTRACTS (FDD page 39)
What This Means (2025 FDD)
According to the 2025 Pearce Bespoke Franchise Disclosure Document, there are no pending administrative actions alleging a felony against the franchisor, its predecessors, individuals identified in Item 2, or affiliates offering franchises under the Pearce Bespoke trademark. Specifically, Item 3 states that no such party has an administrative, criminal, or civil action pending against them alleging a felony, a violation of franchise, antitrust, or securities law, fraud, embezzlement, fraudulent conversion, misappropriation of property, unfair or deceptive practices, or comparable civil or misdemeanor allegations.
This statement provides assurance to potential franchisees that Pearce Bespoke and its associated parties are not currently involved in legal disputes of this nature. This lack of pending actions may indicate a stable and legally compliant business operation, which can be a positive factor for prospective franchisees assessing the risks and opportunities associated with investing in a Pearce Bespoke franchise.
It is important to note that this statement only reflects the current status of pending actions as of the FDD's issuance date. While the FDD indicates no current issues, franchisees should continue to monitor the company's legal standing and business practices as part of their ongoing due diligence.