Seems pretty obvious that the company spread itself too thin. Opened far too many stores and then didn't resource those stores adeqately in an attempt to control payroll costs.
Yet, despite running stores on a shoestring payroll budget, the employee costs were still too high with regards to turnover. Poor customer experience, disenchanted employees, negative reviews and social media comments were always going to be the result.
The writing is on the wall.
Ann: Additional Investors in Capital Placement, page-11
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