Philz Coffee Being Sold to Private Equity Firm for $145 Million, Employees Reportedly Getting Screwed Out of Their Stock

sfist.com

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Philz Coffee Being Sold to Private Equity Firm for $145 Million, Employees Reportedly Getting Screwed Out of Their Stock

sfist.com

return2ozma@lemmy.worldBanned from community to

News@lemmy.world · 8 months ago

cross-posted to:
workreform@lemmy.world

The once-trendy, San Francisco-born coffeeshop chain Philz Coffee has struck a deal to be sold off to a private equity firm for $145 million, but any employees who bought stock are getting the shaft, as they won’t see a penny of that money.

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  Who would buy it? The minute they announced this deal the value effectively went to 0.

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