Harry & David, the Medford, Oregon company best known for the Fruit of the Month club, Moose Munch candy popcorn and the yummiest pears on the planet has filed for bankruptcy. The L.A. Times reports the real cause was "the mountain of debt put onto the century-old company as part of its 2004 buyout by New York private equity firm Wasserstein & Co. proved the difference, giving Harry & David no room to maneuver during tough times." Charles Jaeger, a Southern Oregon University business professor, states: "All of the Wasserstein original investors got their money out of it and left Medford with a shell of a company with gigantic debt. They handled it in their typical greedy Wall Street way." No word if Wall Street greed has hit the Bacon of the Month club...
Harry & David files for bankruptcy
Nathaniel Popper
March 29, 2011
http://www.latimes.com/business/la-fi-harry-and-david-20110329,0,6839865.story
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment