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clock Created with Sketch. 25/08/23
17:40
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Originally posted by Harrycool:
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Well what an ignaminious end to a 70 + year old Company that not too many years ago turned over in excess of $1 billion. An Australian icon. When you have the critical mass that Hills once had nobody pays much attention to the Management as profits pour in and dividends get paid. Nobody wonders whether there may be more available. When management makes strategic errors and sells off that portion of the shop that is making money and then has to sell off more because cash flow is falling and the critical mass has gone its too late to pay attention. It becomes a scramble to survive with rising costs and falling income, survival becomes impossible. This is Hills story in a nut shell. Surprisingly all the loss making products that have been sold appear to still be around (Hills Hoists, etc. ) obviously making money under different management with a different strategy, then one has to question the skills that Hills management had over the years.
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It all started with Jenny, she tried to change everything, but stuffed everything up, if half the story's I heard about her while I was working at Edwardstown, I am surprised it lasted as long as it did.
