“Companies run badly wind up in ruins. “
Companies held hostage by labor unions end up in ruins.
Same old story - The unions bled the company, the company didn’t have enough money left to make improvements in production and distribution efficiency, all while having to charge higher prices and fund overloaded pension plans.
Result: Sales fall while costs are not contained, followed by losses and inability to pay suppliers.
This is their second filing since 2004. And it was predictable.
Don’t bet money on them surviving this one.
Some other company may buy some trademarks and product formulas in the liquidation.