Back from the brink. (Savin Corp. bankruptcy reorganization): An article from: Chief Executive (U.S.)

This digital document is an article from Chief Executive (U.S.), published by Chief Executive Publishing on October 1, 1994. The length of the article is 2685 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: The office copier and facsimile equipment maker Savin Corp. has successfully reversed its losing streak and has recovered from its bankruptcy status. The strategy implemented by management to get back in the black involved the implementation of a survival-oriented culture. This required the retention of employees who could contribute to the Chapter 11 reorganization and realistically determine the success potential of product lines, distribution channels and plant efficiencies. Marginal products were eradicated, marginal plants were shut down and marginal distribution was cancelled. All these efforts were not aimed at ensuring the growth or market share of the company but at generating profit and cash flow for Savin Corp. The initiative also required the re-establishment of its credibility among customers, suppliers and international investors. As a result of these efforts, the company was able to achieve $25 million worth of shareholder's equity in 1993.

Citation Details
Title: Back from the brink. (Savin Corp. bankruptcy reorganization)
Author: William R. Krehbiel
Publication:Chief Executive (U.S.) (Magazine/Journal)
Date: October 1, 1994
Publisher: Chief Executive Publishing
Issue: n98 Page: p46(4)

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