Hello my fellow readers,
Today, I found this interesting yet somewhat prejudice article about Oldfields from back in 2012 as I am struggling to find any recent. I acknowledge Oldfields and its many business endeavors such as that to sell cleaning products, the type you can buy from such places as 'The Reject Shop' the articles says. The company bought the private cleaning label in 2008 for a whopping 3.2 million dollars. A lot for cleaning products right?
To term the investment as an "exciting new acquisition" was an exaggeration of reality I say. In the end, the business extension could not be classified as an asset clearly because crippling debt resulted and I wonder why!
The article mentions that the going-concern threat also came close back in 2012, but profit margins were not the problem? According the the article, Chief Executive Officer Chris Giles, quotes ,"There is no issue with margin, all we lack is volume," The company wanted to increase distribution instead of bumping up prices which was a risky decision based on what we know now on the increased prices of resources and supply imports from Asia.
I question my company and its many business decisions, hoping that it will continue living up to its 'quality, innovation, leadership!' motto.
View the article here.
Mr Oven Cleaner are a family business thats believes in giving a great service at a fair price, which is why we always put our customers first and try to accommodate everyone individually. We always get the best results possible, put in the hard work and care each job needs, which is maybe why nearly all our customers use us time and time again.
ReplyDelete