Subject category:
Strategy and General Management
Published in:
1985
Length: 13 pages
Data source: Published sources
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Abstract
Stone-Platt was one of the world''s major textile machinery manufacturers which diversified into other engineering sectors. Following the 1974 and the 1979 recessions, their textile machinery divisions lost money heavily. To protect the core business, Stone-Platt sold their growth divisions but losses continued, debts increased and the banks refused at the second time of asking to continue support. The case provides an opportunity to consider turnaround strategies in a Business Policy course.
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Abstract
Stone-Platt was one of the world''s major textile machinery manufacturers which diversified into other engineering sectors. Following the 1974 and the 1979 recessions, their textile machinery divisions lost money heavily. To protect the core business, Stone-Platt sold their growth divisions but losses continued, debts increased and the banks refused at the second time of asking to continue support. The case provides an opportunity to consider turnaround strategies in a Business Policy course.
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