What year did Nathan Pearce, CEO of Pearce Bespoke, file 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 Pearce Bespoke's 2025 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 case was filed In re Pearce, Case No. 17-50881 (U.S. Bankruptcy Court for the Southern District of Mississippi, October 2, 2017). The bankruptcy court entered a discharge in October 2017.
This disclosure is important for prospective franchisees as it provides transparency about the financial history of the company's CEO. Bankruptcy filings can sometimes raise concerns about an individual's financial management and business acumen. However, the FDD explicitly discloses this information, allowing potential franchisees to consider it as part of their due diligence.
It is worth noting that the disclosure is limited to the information provided in Item 4 of the FDD. Franchisees might want to inquire further about the circumstances surrounding the bankruptcy and any potential impact it could have on the Pearce Bespoke franchise system. This information helps franchisees make informed decisions about investing in the franchise.