Subject category:
Strategy and General Management
Published by:
International Institute for Management Development (IMD)
Version: 09.03.2004
Length: 4 pages
Data source: Field research
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Abstract
This is the second of a two-case series (IMD-3-1356 and IMD-3-1357). At 10 am on Wednesday 30 April 2002, Cees Zwaard called a meeting to brief the entire company''s staff. He explained that despite exhaustive attempts to gain approval of the ISW takeover from Kirch, sadly this had been unsuccessful. The moratorium agreed with the creditors was due to expire, and Global Interactive Gaming (GIG) only had a bank balance of £1,600. Therefore the company would have to be put into receivership following an emergency board meeting. The day became known at GIG as ''Black Wednesday''.
Location:
Industry:
Size:
6 employees
Other setting(s):
April 2002
Subject category:
Strategy and General Management
Published by:
International Institute for Management Development (IMD)
Version: 09.03.2004
Length: 12 pages
Data source: Field research
About
Abstract
This is the second of a two-case series (IMD-3-1356 and IMD-3-1357). At 10 am on Wednesday 30 April 2002, Cees Zwaard called a meeting to brief the entire company''s staff. He explained that despite exhaustive attempts to gain approval of the ISW takeover from Kirch, sadly this had been unsuccessful. The moratorium agreed with the creditors was due to expire, and Global Interactive Gaming (GIG) only had a bank balance of £1,600. Therefore the company would have to be put into receivership following an emergency board meeting. The day became known at GIG as ''Black Wednesday''.
Settings
Location:
Industry:
Size:
6 employees
Other setting(s):
April 2002
Related
Subject category:
Strategy and General Management
Published by:
International Institute for Management Development (IMD)
Version: 09.03.2004
Length: 12 pages
Data source: Field research