A private equity firm saved beloved Portland restaurants from bankruptcy. Then it stopped paying its bill....

On Christmas Eve 2023, the co-founder of Portland’s See See Motor Coffee Co. got a frantic call from the coffee shop’s manager. The ice maker and dishwasher were being repossessed because the cafe’s owners, Sortis Holdings, hadn’t paid the lease on the appliances in months. The cafe would have to close. “I couldn’t do that to my staff during the holidays,” said Thor Drake, See See’s co-founder. So he called up Rose’s Equipment and Supply and put the thousands of dollars due on his personal credit card. He assumed he’d get re ...

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