SAKOWITZ

Restructure the company: Creating alternatives for a family-owned privately held retail enterprise with limited access to capital to survive. Given the competitive requirements to either expand or expire in the face of national and international encroaching competition, vendor pressure for greater purchases to maintain lines and exclusivities, high interest rate, and ever-increasing minimum wage scale hikes, the challenge was to maintain profits while convincing real estate developers, bankers and vendors that expansion and survival of the Sakowitz company was in everyone´s best interest. Mr. Sakowitz was successful in doing so until the Southwestern home-based economy unexpectedly and devastatingly reversed in the mid-80´s. With consumer confidence destroyed in a depressed regional economy, sales revenues diminished and no longer supported these previous commitments. In the face of calls by its bank consortium (60% of whom faced their own credit call problems from the U.S. Office of..

Also known as: Sakowitz Corporation, Sakowitz, Inc.

Primary location: Houston United States