‘Under new management’ are probably the worst utterances to see written at the enter of your favorite souvlaki region, delivering ambiguity for purposes of determining whether the new owneds or people who were appointed to run the place will have maintained an equal stage of quality that you, as a dedicated customer, are used to. And it can be any business, really–a change in ownership can be a refreshing thing or else it can totally destroy the spirit of the previous organisation or office.
Users on Reddit are sharing their most pertinent stories exemplifying how controversial some business decisions might be: from sold ice cream parlors to Target in Canada and Star Wars. And although the previous year has considered some businesses and companies go out of order , not all the new endeavors, as we have learned in the past, are there not to always succeed.
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#1There was an Italian lieu in my hometown that was well liked for its pizza, among other things. The waitress offset the dough fresh in the kitchen, and the cooks procreated the sauce as close to being in-house as you can get short of actually steaming and straining tomatoes.
The proprietors eventually sold it, and the new owners turned it into a barroom& grill. They still had the pizza, but it was all frozen dough and bland canned sauce. Meanwhile, a supporter and regular of the original restaurant bought an old-time mechanic garage and sterilized it up to be a spiritual successor to the aged one — he even got all the recipes he could from the original proprietors; surprise of all surprises, his is the one that succeeded while the bar& grill petered out after the rarity charge.
The forbid& grill eventually sell off that guy, and now it’s a brand-new, different forbid& grill, but with all the very best meat that the old Italian lieu sufficed still on menu. It’s been running strong for over a decade since.
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#2Property conduct firm I used to work for had a number of student qualities and high-rises that were always a struggle to fill in the summer months when students went out of town.
Head office came up with an furnish that any person who is signed for two years got the four summertime months at 50% off. Musics like a good deal, 50% hire is much better than zero. We indicated tons of students.
Nonetheless the lease templates that head office sent over registered the reduced rent rate on the lease rather than precisely including the rebate as a separate addendum. I noticed this gap and reported it – and was subsequently rejected.
Which meant the students were signing a legal document that guaranteed them 50% lease for two years.
The corporation lost hundreds of thousands in revenue.
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#3A developer my pa worked with sold off a beautiful piece of land next to a creek in a very desirable area, he sold it to another developer. The new developer cut down every tree on the 6 acre area, as he said, “he wanted to see what he had”. The land then started to slide into the river, interpreting it worthless and ugly.
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#4I used to work for a company that was bleeding fund. In say to try and save money, they decided to stop honoring returns/ rebates, but still advertised that they did.
Whenever someone would asking questions a rebate, you were supposed to tell the person that it would be processed in the next 6-8 weeks, then get them off the phone.
6-8 weeks later, when they ask where their fund is, you were supposed to apologize and say their paperwork get put in the wrong stack, and that it would be put in the correct load and would then be processed in the next 6-8 weeks.
If they complained about the length of time, you were supposed to tell them you can ask your supervisor to expedite it, and they should see it in 4-6 weeks instead.
If they peril action at law after months and months, you were supposed to tell them to contact the company legal agency( we didn’t have a company legal district) and then hang up on them. Then, make a note in their report. No one should field announcements from that account further.
More than half the label midst cease in a single week in rally of this decision.
Company collapsed in on itself within a few months.
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#5In my hometown there was an independent fast food and homemade ice cream place, long established and run by close friends. It was a goldmine. They decided to sell and retire. New owners immediately converted everything. Painted it a mad shade, removed some attractiveness on the grounds, varied the 60 year old-time menu and switched to commercially constituted ice cream. They previous 8 months.
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#6My late immense uncle started a fish and chippings restaurant. He had his own unique recipe for the fish and it was very popular. Businessmen had offered him thousands in cash for it over the years, but he ever declined. After about 40 or so years, he decided to retire and entrust the business over to an grandiose recent college grad. He offered to give her the recipe and even volunteer his services for a bit while she got pleasant in her new character as owner. She diminished both and within a year, she was forced to sell the restaurant after coming close to showing bankruptcy. My great uncle died and took the recipe with him to his grave
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#7Knew this guy who wanted to start his own BBQ and hot sauce text, here was his process:
Get high with buddy and construct the decision go into business together.
Argue about who should be financing the business
Get a lend from Grandma
Order a assortment of bottles
Use a sharpie and some blank descriptions to turn in the bottles
Fill the bottles with bulk BBQ sauce.
Try and sell these to Walmart
Get upset that Walmart won’t shelve your representation sauces
Have several hundred bottles of unsealed commodity that wasn’t prepared hygienically.
Try and sell some to your extended family.
Get angry with extended family that they don’t think it is your dreams of the last two weeks.
Beg family for coin to pay back grandma.
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#8There was a shopping plaza near me with a fairly large gift store. Not a endow supermarket in the museum impression, mostly like a Hallmark store but independent. It wasn’t accurately bustling, but they apparently did solid business and a lot of people in local communities genuinely increased having it there as a lieu to buy knacks and wrapping paper and such. The owners of the shopping plaza raise leases to the point that the supermarket croaks out of business. The conclude this was stupid is that the place figurehead sat unused for like 15 entire years. Seriously, this situate closed when I was a child and I’m now 27 and the vacancy was only taken over very recently. If their destination in raising the tariff was to have a more profitable store move in to that cavity, they certainly failed and missed out on decades of tariff as a result.
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#9This one involves my Dad. Back in the ‘8 0s he decided he wanted to teach beings how to use Lotus 123, Excel, MS Word, etc. So he bought a knot of computers for a classroom, and he wrote interactive ascertain curricula, and printed out manuals and such. Even without advertising, “hes having” parties asking to join his class BUT … he was never quite ready. This Lotus 123 program could use more act. He wasn’t ready for a class, this MS Word tutorial isn’t relatively done. The perfectionist in him wouldn’t make him uncover the less than perfect programs/ class to beings … just yet. He turned away compensating purchasers for fear that it wasn’t just perfect. He had taken a credit out from a friend to finance this, but never made a dime. He paid the loan back by selling our lodge, something he regrets to this day. And why? Because he was afraid to be shortcoming.
That learnt me a exercise though, as the old saying departs “Perfect is the enemy of done”. He is likely to be have constituted money and learnt his classes, refining the programs to student feedback. He should have been able plastered inadequacies by teaching in person. He was afraid it wasn’t perfect, so it was never done. We don’t talk about it, or the cottage that we built together( we had the foundation and arrangement has been established by pros, then the whole family sloped in to build the interior when we were teenages ).
It grieves me more because it was what he wanted to do, and “hes been gone” for it … but not quite.
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#10I worked for a video storage during the time Finding Nemo came out on DVD. The video accumulation I worked for got a huge fishtank put inside. It was so large-hearted they had to shrink the game rental section. The container had comedian fish in it. The cistern was also locked and we couldn’t feed the fish or clean it. This was supposed to be done by someone who I never ensure come in. So the tank objective up filled with a cluster of dead Nemos in a terrible as f *** tank. Needless to say mothers were very unhappy about it. The local paper did a small article about it more which didn’t cure an once dying supermarket. I have no idea what they remembered an expensive as Hell fish tank would do for their business.
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#11I used to work for a intend/ etching neighbourhood for years, and the owner get from astounding meaning to stupid notion on a regular basis. don’t get me wrong – guy is a brilliant designer, wholly took advantage of new tech every luck he could and impel it make.
But – he was cheap and covetous, so, broken what would have been lucrative long term business relationships.
So – we did this huge order of promo plies for a fairly big-hearted on-line casino. vast, for him. about a 20 k succession, with good boundaries, and the chance at long term work with this company.
While it was being picked up, on the spur of the moment, he decides to pad the bill by about 200 horses. the guy picking it up was the son of the casino owned, and literally watched the boss do this while I stood at teh till.
The purchaser looks at me, smiles, and salaries the invoice. With a huge wad of currency. And says “I know it’s not your faulting, but – my family is very wealthy. We didn’t get that room telling people rip us off. Tell the boss over in the reces he just f ***** himself out of a lot of fund, since we are enjoyed the work.” in a articulate meant to carry.
Edit to clarify who was compensating. And padding entails he increased the invoice over what he had repeated the job to cost.
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#12Take a assistant table that has been consistently rated extremely well by its customers for their first-call-resolve, attitude, and helpfulness; outsource it to a company that’s been rated towards the bottom of the roll for over a decade because it expenses lower than the payments/ the advantages of your former in residence improve desk. Then grumble when your first-call-resolve sags through the floor and your customer satisfaction is at an all hour low.
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#13Kodak refusing to push digital cameras/ photography, and instead focusing on film cameras. If I recall correctly, I consider Kodak was one of the first companies to create a digital camera, but instead of capitalizing on it, they sat on information and communication technologies and focused on film development.
Image credits: Swiss__Cheese
#14Target’s stretch into Canada
crumbled in 2 years and costs them Billions
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#15I use at JCP before and after 2011( I repute) when they reworked the whole company. They made away tickets, and they took away a lot of departments beings( peculiarly older people) adoration, like tradition window coverings. They too brought in extremely expensive furniture. Like $ 8,000 dining tables. Trust me .. no one shopping at JCP is looking to buy an $8,000 table.
They paid the CEO who brought about all these changes a big amount of money and it neglected miserably. People Disliked the amendments and we went from a hectic accumulation almost every weekend, to it being dead almost every weekend. It lasted perhaps 2 years and then they brought back a lot of the stuff they went rid of, but the damage was done. The people who had been browse at JCP for years and years who stopped after the changes, didn’t come back.
JCP lost an insane amount of money during this whole thing and never recovered. They filed for bankruptcy last year.
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#16Cafe I work for decided it wanted to fire everyone except for the pass and the manager. Then told the manager they weren’t compensate her payment anymore AND she needed to take on more drive. Assumed parties would do it because they “love their jobs”
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#17Circuit City was pretty stupid. When the recession punched, they decided to stop selling appliances and instead focus on DVDs and televisions and such.( Contraptions are known as being a recession proof item. People always need refrigerators and microwaves. They don’t need DVDs .) They likewise wanted to cut down on labor expenses, so they shot a great deal of managers and assistant administrators, and exactly left a great deal of entryway elevation hires because they were cheaper to pay. Well, entering rank employees don’t certainly know how to fully run a store, so pretty much every Circuit City became pups ***.
Image credits: Stevie-Avail
#18There was a Tex-Mex arrange I loved in Fairbanks, Alaska. The nutrient wasn’t GREAT, but it was consistent, and the prices were fair.
Well, a brand-new proprietor came in, and they decided to revamp it into a fine dining steak house. $30 was pretty much the lowest cost you could get for an item, and this was in a neighborhood that had a substantial crime rate and was right across the street from the bikini barista and the dope dispensary.
I stopped get, and they moved under shortly thereafter. I went in once before the place closed down, and it was dreary and vacate and they had tried to bring some of the classics back to the menu, but it was far too late by then.
You were too good for this world, Los Amigos.
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#1920th Century Fox returning George Lucas the merchandising rights and claims to sequels for Star Wars in return for a compensate chipped on his director’s fee( from half a million to $150,000)
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#20A radio depot i used to listen to recently changed their format from 80% music, 20% talk establish to 100% talk testify. Then they were like “oh you can still listen to the music but it’s simply going to be on our app.”
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#21Two members of the band Steppenwolf wanted to break away from benefactor John Kay and was necessary to tour working the band name. John Kay told them he would allow it….only if they ratified over their royalties from the song writing ascribes the government has in the band. These two representatives were persuaded they would be successful on their own so they agreed.
Since Steppenwolf without John Kay would be like the Rolling Stones without Mick Jagger, that explanation of the band flopped tremendously.
Likewise, even a five year old-fashioned could tell you that giving up your royalties on major pops like “Born to Be Wild” and “Magic Carpet Ride” would be a really stupid thing to do, so these guys resolved up having to work regular menial responsibilities when they could have been getting a nice royalty check in the mail instead.
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#22I used to work for a small airline for several years. We did fairly well doing regional flights across the US and Canada.
Our dip s *** CEO decides we should get into the private airplane sell and tempt in a assortment of wealthy person with more money than they could spend.
This programme hilariously miscarried and we went into Chapter 11 bankruptcy for two reasons:
anyone that can afford a private aircraft wants to BUY one for themselves and hire a pilot to fly for them. They’re not interested in buying a ticket AND hiring a captain.
idiot CEO invested in outdated prop airplanes. Because nothing pleads to rich people more than fancy airplanes that scream through the breath like a riding mower cranked to 11.
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#23Not even sure if it was a intentional decision but Sears passing on being Amazon in the early 90 ‘s. Sears was positioned and ready to be Amazon, the government has most ingredients in place once and the others they had in their arsenal.
First they had name recognition, this was important for the rely point with the internet exploding like it was. They had the product line, for s **** sake you could buy a room from the Sizzles catalog. Delivery, it was there, they delivered the house that you bought!
Internet portal, they had it. They owned Prodigy, one of the more recognized internet providers of the time. This was a joint venture with IBM, you are familiar with, the most well known hardware provider for computers at the time.
So IBM sells personal computers with Prodigy installed with free to stupid low cost internet access. When you sign on it removes you to a home page( that was the way it acted back then with software internet) with a link to the ONLINE SEARS CATALOG! Same great catalog, merely on the World wide web!
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#24I succeeded at Hollywood Video from 2006 to 2009. At that time Netflix was growing by leaps and bounds and our receipt was dwindling from time to time.
Instead of imitating Netflix’s model and using their more recognizable brand name to periphery them out of business, Hollywood shrugged their shoulders and continued hiring single DVDs for $4.99 for 3 daytimes plus late costs.
Where they at now?
Image credits: PhillipLlerenas
#25My old-fashioned corporation was internationally known in our manufacture as represent one of the ideal places to be. We could hire mostly anybody in the world in our gap to move and work in our bureau. It was such a f ****** astonishing locate to work.
The CEO decided to cash out when a larger company barely is attributable to our manufacture decided to buy us. The “companies ” mostly gutted everything that obliged it immense, then rushed to go public. The hire asset options were pennies and they drastically chipped benefits. Every time there was a complaint the answer was “maybe you don’t understand our vision” or “well we are a public company now.” They likewise went rid of our office which was located in one of the hottest LA neighborhoods that everyone is adoration.
More than half of the OG senior representatives have left and a large number of others are rumored to leave. I was forced to start assisting in hiring and it was grueling. People would apply believing it was our aged busines, then find out what’s up and disappear elsewhere. Oh, and the stocks is slumping.
I hate the fact that what once was is over. Those f **** broke something great.
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#26Panera Cares opening less than a mile from my college campus.
For those who don’t know, Panera Cares mostly just let you order food and would register a “suggested donation” based on what you succession, but ultimately it was honor system. The cashiers would just make change for you so you were able to apply cash in the donation box. If you can’t afford a snack it’s fine to not offer but you are supposed to volunteer to work for two hours to cover it, but this isn’t actually required.
I mull generally these things are supposed to be for really affluent neighborhoods where people probably donate even more than is “suggested.” But students from the college basically turned it into a real life Tragedy of the Commons experiment. There was almost never bread available because everyone would just take it. The wrinkles were insane and parties would bequeath like$ 1 if anything. It closed within a year lol.
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#27Company I used to work for decided to stay open instead of closing at the start of covid. The position even said they would pay employees and return industries fund if they closed and didn’t lay people off.
Nope they stayed open and all of their customers closed down. Making no fund for 5 months they had to lay off 80% of their employees.
Things started picking up last-place October. Well they were understaffed and couldn’t meet demands. Causing them to lose most of their big contracts. If it wasn’t supplemented by the mother company in Japan they would be done for now.
I labor there for 13 yrs. Participating how far we originated to have one bad decision payment them everything is eye opening.
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#28In the early days of the personal computer, a somewhat foremost make Osborne moved t *** up because they testified off their new prototype far in advance of when it was actually going to be available. So predictably merchants immediately offset all fiats for their current computer sit preparing for the new improved account. Inventory stacked up and they were bankrupt before the brand-new model ever came out ….. Its known as the Osborne Effect.
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#29Around last year this time of time, I know person in their early 50 ‘s that sold all of their speculations( at a significant dip from the high-pitcheds) and decided to start producing and selling hand sanitizer in little bottles out of their garage. Seeing it as a big opportunity with the virus.
They wasted everything on the bottles, descriptions, plastic drums full of sanitizer( at a huge markup ), hiring locals people to crowd the bottles and situated the labels on, and then a website. By the time they had inventory, they realized that they couldn’t compete on expenditure with targets like Walmart or other large-hearted carton storages that has at last caught up to the dearths by mid-summer. They likewise didn’t realize that selling on Amazon was gated for that list so you had no chance of selling through there as a brand-new vendor. So now they mostly have a garage full of old hand sanitizer, and no savings.
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#30Holy heck my time to shine. Prepare for a number of them.
Use to work at the corporate department of a major water park in my position( if you ever lived in Utah you know which one ). The year before I started, they borrowed a brand-new ‘business’ practice of render a season pass to the waterpark( and innumerable other facilities) for a measly $20 per year. Not a typo. Previously they had been $ 150+ per year. Unbelievable right? It gets worse.
The year I started, they guided a new promotion whatever it is you buy a season pass for $ 25, but then also get a $ 20 giftcard back in the mail to Walmart or some other store. You can see where this is going.
“two weeks ” after I started as a fulfillment consultant( dealing with pass editions) they shot the entire scold midst staff members of 30+ beings, heaping their phone calls and emails onto my fulfillment crew of eight. So in addition to all of our wield creating and shipping legislates, we had to take all customer service calls and emails.
It gets worse.
For some reason, they thought that it was prudent to wait until we had some massive round figure( I speculate either 500 or 1000) extends ready to ship before they would even ORDER the endowment placards to send with them( even though there were thousands of moves bought and pending with this deal ). So is not simply were there MASSIVE retards in people get their extends, sometimes they just wouldn’t even get the gift cards either because the season was starting and they expected their succumbs now instead of waiting for the knack cards more.
So double whammy there, patrons furious about how long it takes to get the season extends, and not get the talent cards.
After all this, and firing the summon middle, they couldn’t figure out why they were still losing money. I discontinue, and the rest of the team quit as well within “two weeks ” of me leaving. Somehow they preserved afloat for another year or so, but then eventually the waterpark closed for a year or two and modified paws a few cases goes.
It was recently bought again, ‘renovated’, and this new company is offering season guides for …. $30.
The halo of living, I suppose.
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