For the purposes of this article, consider the history and recent business practices of a company we’ll call JKL Shoes. JKL, a privately-held company, is a well-established, family-owned women’s footwear manufacturer. Consider these facts:
Owned and operated by the second generation, the company enjoyed for many years a strong record of success. In recent years, the business generated revenues of $75 million and had a reputation within the industry for superior technical expertise. Its clients were largely comprised of solid Fortune 1000 companies.