Is there any mention of Pearce Bespoke filing for bankruptcy in Item 4?
Pearce_Bespoke Franchise · 2025 FDDAnswer from 2025 FDD Document
[Item 4: BANKRUPTCY]
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.
Other than what has been disclosed above, no bankruptcy information is required to be disclosed in this Item.
Source: Item 4 — BANKRUPTCY (FDD page 9)
What This Means (2025 FDD)
According to the 2025 FDD, Item 4 addresses bankruptcy filings related to Pearce Bespoke and its leadership. The document states that the Chief Executive Officer, Nathan Pearce, filed a personal bankruptcy petition under Chapter 7 of the U.S. Bankruptcy Code on May 3, 2017. The bankruptcy court discharged this petition in October 2017.
Importantly, the Pearce Bespoke FDD explicitly states that, beyond the disclosure of Nathan Pearce's personal bankruptcy, no other bankruptcy information is required to be disclosed in Item 4. This suggests that Pearce Bespoke, as a company, has not filed for bankruptcy.
For a prospective franchisee, this information provides transparency regarding the financial history of the company's CEO. While the company itself has not declared bankruptcy, understanding the financial background of its leadership can be a crucial part of the due diligence process. It is advisable for potential franchisees to discuss this matter further with Pearce Bespoke to fully understand its implications.