For the last year, Mountain Hardware (MH), a prominent hardware retailer in the Rocky Mountain region, had dodged insolvency and liquidation. In the previous week, the organization's CEO, John Preston, learned that the acquisition offers he had expected to receive from four major businesses in the sector would be delayed by several weeks.
John Preston Case Study Solution
Those expectations were challenged when Preston received a call from Mountain Hardware's loan officer at Bank of the West. It seemed the business' slumping financial performance had made the firm in technical default on its loan covenants and the bank desired Mountain Hardware to pay down a substantial portion of its own loan balance, much more than it could manage, to put the company back in compliance. This was the backdrop against which Preston faced a debilitating layoff of some of his company's best profile employees going into the holiday season.
PUBLICATION DATE: September 15, 2013 PRODUCT #: E487-PDF-ENG
This is just an excerpt. This case is about FINANCE & ACCOUNTING
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