Jersey Mike's Subs

Jersey Mike's just went public, but Blackstone and Abu Dhabi's sovereign wealth fund still control roughly 90% of the vote between them, while founder Peter Cancro's own stake fell to about 10% as his family collected more than $100 million in one-time payments disclosed in the IPO filing. Federal labor regulators have cited the chain twice over child-labor violations, most recently at a Virginia franchisee in 2024, and Washington state forced it to strip a worker-mobility restriction from every franchise contract nationwide in 2019. Nearly all 3,300 locations are independently owned by some 630 franchisees, but the company itself now answers mostly to Blackstone.