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A Not So Rosy Situation: Bill Aziz's Challenge at White Rose Crafts and Nursery Sales Limited
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Reference: IVEY-9B07M053-E
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Year: 2002
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Number of pages: 30
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Geographic Setting: Canada
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Publication Date: Aug 30, 2007
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Fecha de edición: Jan 9, 2020
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Source: Ivey Business School (Canada)
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Type of Document: Case
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Industry Setting: Retail Trade;
Description
In late November 2002, halfway through the vital Christmas selling season, William E. Aziz, hired to turn around White Rose Crafts and Nursery Sales Limited (White Rose), has to decide what to do. White Rose is under Companies' Creditors Arrangement Act (CCAA) protection, having breached its debt covenants. The company's upper and middle management is frustrated that their efforts since 1999 have not turned the firm around. The remaining employees blame the firms' situation on the change in strategy that occurred in 1999. The changes led many of White Rose's original employees to leave. At least partly due to an attempt to compete head-on with new U.S. entrants into the garden and crafts industry, the company endured three straight years of losses. In November 2002, White Rose launched a strategic review of its operations and asked its chief executive officer of three years, Dave Symons, to resign.