In 2013, JPB Partners purchased ZIPS Cleaners, a low-cost dry-cleaning brand. Ten years later, facing the effects of the COVID-19 pandemic as well as rising labor rates and increased regulation, JPB must figure out its next steps with ZIPS. The dry-cleaning company grew significantly before the pandemic, but the sudden shift from in-person to remote work resulted in a sharp decline in demand for dry-cleaning services. Now, JPB faces a decision: keep the existing model or invest in ZIPS's operations and find an innovative way to generate growth in a declining industry before an exit. This case would be suitable in courses covering operations, strategy, entrepreneurship, or private equity and can be used in undergraduate, MBA, and executive MBA courses.