caribny posted:

Prashad posted:

  He could have IPO 

Hardly likely.  The hedge fund and PE guys have known him for quite a while and in fact funded much of his expansion.

To do all of this means giving up control and those who start family businesses don't want to do this. I don't see white PE guys interested in running a Jamaican patty chain.

As to activities that got him into trouble.  I suggest that folks check how most low margin mid sized businesses operate in NYC.  High costs, high taxation, etc., something will give and its usually taxes and the workers. The NYS Dept. of Labor is very busy dealing with these issues.

Hedge fund and Private Equity guys don't provide funding.  They invest with other people's money.

These guys should get out of the restaurant business which is very risky and concentrate on the Caribbean frozen foods market. Their products are high quality.

Vish M posted:

He may be guilty of some of those previously flagged issues but remember he was community minded and a greater supporter of his community

Well said. I see Yugi jump to label the man.

caribny posted:

Prashad posted:

  He could have IPO 

Hardly likely.  The hedge fund and PE guys have known him for quite a while and in fact funded much of his expansion.

To do all of this means giving up control and those who start family businesses don't want to do this. I don't see white PE guys interested in running a Jamaican patty chain.

As to activities that got him into trouble.  I suggest that folks check how most low margin mid sized businesses operate in NYC.  High costs, high taxation, etc., something will give and its usually taxes and the workers. The NYS Dept. of Labor is very busy dealing with these issues.

Low margin mid sized businesses face tough challenges here in NYC.

That $15 minimum wage in 2019  an be the death knell.