Gooseberry Patch Freshens Up

Gooseberry Patch, originally founded in 1984 as a mail-order catalogue company selling old-fashioned, country-style products, began publishing cookbooks in 1992, but the Delaware, Ohio, company almost didn’t make it through the Great Recession. “Gooseberry Patch ran headlong into the economic downturn,” Brad Dunnington, the company’s CEO since December 2009, told PW. “That, in combination with the banking crisis, was a perfect storm.” Sales that had reached a high of $18 million–$20 million plummeted, making the future of the company founded by two stay-at-home mothers uncertain. In an effort to revive Gooseberry, in 2009 cofounders Vickie Hutchins and Jo Ann Martin entered into a partnership with Lazear Capital Partners, an Ohio merchant banking firm specializing in turning around ailing companies. Continue reading at 'Publishers Weekly'

[ Publishers Weekly | 2012-04-13 00:00:00 UTC ]
News tagged with: #great recession #economic downturn #told pw #perfect storm #$18 million

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