Regardless of observing that sales were up from this previous year and opening a new place, their financial statements were reporting losses compelling them to consider what steps to take to turn children's retail clothing business around.
The Thompsons have satisfied their dream of managing their personal business, but after two years persist in borrowing money from their parents, and are confronting an angry landlord looking back for rent. Launching a 2nd place in a more flourishing mall seems to have helped revenues, however they are facing high year end stock amounts necessitating markdowns and representing the risks of the "trend" oriented children's retail clothing business. Having their particular business had put a stress in their lives and connections with their family. Her parents provided on-going and initial funding and their son, a lawyer, has voiced his concern about the local attorney's competence, who was indicating they consider bankruptcy. As they face the peak Christmas season, they understand that they might lose their "dream child" and are not sure if it is the manner they are running the business, the financial reports or their locations.
PUBLICATION DATE: July 30, 2012 PRODUCT #: 813042-HCB-ENG
This is just an excerpt. This case is about INNOVATION & ENTREPRENEURSHIP
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