End of an Era
How long does it take to kill a profitable company with fifty million dollars in revenue? In the case of United Sleep Products, the answer was just more than one year. Last April 28, I posted about the company’s new marketing strategy under new ownership – a strategy that went against everything the company had ever done, everything its dealers had ever asked it to do and everything it knew how to do well. In short, it was kind of like someone buying a successful used car lot and announcing that you’re going to leverage the location to sell Ferrari’s. Guess what? It didn’t work, and United failed miserably. They announced dramatic restructuring in January and even brought back John Katerenchuk, a very talented man I’d worked with at United. But I know John well enough to know that he knew he was walking into a dire situation. Even then, I suspect the plan was to keep operations alive until a sale could be made. A few weeks ago the plants closed , and shortly after t...