Francis Farwell, founder of WinterSilks Inc., a Middleton, Wis., mail-order apparel company, planned to sell his business from the start. Based on that decision, he built the business accordingly. Instead of plowing all his earnings into growth, he made sure the company maintained a sizable free cash flow, making it more attractive to potential buyers. In 1990, Farwell sold out, pocketing several million dollars.
Now, the number three guy, who was this extremely talented young Marketing Manager, took over the management of the company, and at this point, the company was in such bad shape that the financial buyer basically gave up for zero, their total investment and walked away, and left this fellow, Chris, ...(Full transcript available to logged in subscribers.).
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