GoKawiilEx-Wall Street Broker Loses $180K Retirement Fund on Failed Nestlé Toll House Franchise
Bill Lewis, 58, a former Wall Street broker laid off in 2013, invested his entire $180,000 401(k) into a Nestlé Toll House franchise, believing the established brand would guide him through unfamiliar territory as a first-time business owner. Despite strong initial sales growth, high mall operating costs made the store unprofitable, and after four years he was forced to shut it down. Lewis now works up to 75 hours a week driving for Uber and Lyft in Pennsylvania's Pocono Mountains to rebuild his finances.