Business & Tech
Chicago's Bow Truss Coffee Shops Close After Unpaid Workers Walk Out
No paychecks last week meant no lattes Thursday for customers of the Chicago-based chain. Find out why and how long it could last.
CHICAGO, IL — Bow Truss Coffee Roasters locations around Chicago were closed Thursday after unpaid employees walked out, Crain's Chicago Business reports. And those 10 shops could stay shuttered if the financially troubled, independent, coffee chain can't find an "emergency" business partner quickly, the report added.
The workers' walkout that caused Thursday's closings is some of the collateral damage from the continuing battle between Bow Truss owner and CEO Phil Tadros and one-time potential owner and TV personality Marcus Lemonis, the report stated. Last month, Lemonis agreed to buy 90 percent of the cash-strapped, Chicago-based company and loaned the chain almost $100,000 so it could stay flush while the deal was worked out, the report added.
But when the star of CNBC's 'The Profit" withheld a promised loan of more than $300,000, Bow Truss couldn't cut employee paychecks last week or pay for other expenses, such as rent, insurance and even coffee, the report stated. Conflicts over Bow Truss' finances led to Lemonis backing out of the loan, as well as backing out of the deal entirely, the report added.
Find out what's happening in Chicagofor free with the latest updates from Patch.
Tadros told Crain's the business is calling "a timeout" as he assesses the current situation and determines what expenses still need to be paid. He also said he will be prioritizing finding "a new, emergency partner" to replace Lemonis and the $3.25 million he was willing to put up for the 90 percent stake.
How long this "timeout" will last is unknown; a note to customers at the 190 S. LaSalle St. shop used the phrase, "CLOSED until further notice." It is also unclear if all 10 Bow Truss Chicago locations will reopen. (It's not known how the company's shop in Beverly Hills, California, will be affected.)
Find out what's happening in Chicagofor free with the latest updates from Patch.
Here's a look at where all the Bow Truss Coffee Roasters in Chicago can be found:
image via Bow Truss Coffee Roasters
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