They load debt for dividends and dump it on new investors in the IPO. Classic private equity move ruin the product extract cash and leave the mess behind. Once great sandwich now feels like a scam.
Jersey Mike’s sandwiches have shrunk dramatically. I just got one and was shocked how small it is.
I looked it up… sure enough there was a private equity takeover. Blackstone took over control in 2024.
Now they are doing an IPO again. Blackstone ruined the sandwiches and… pic.twitter.com/l2Rqdobr79
— Wall Street Mav (@WallStreetMav) July 10, 2026
Forbes details on Blackstone deal and family pay https://www.forbes.com/sites/antoniopequenoiv/2026/07/02/jersey-mikes-ipo-filing-reveals-50-million-in-pay-for-a-stepson-a-41-million-aircraft-and-a-family-on-payroll/