Valuations & Acquisitions: Tough Time to Compete, Worse Time to Sell
Bad Timing
“After 9/11, our sales fell off 60 percent for fall 2001,” Kirsch recalls. “We couldn’t have picked a worse time for that launch.”
Of course, the entire industry was affected by Sept. 11, not just Waterfronts Nautical. So too was Waterfronts a victim of postal rate hikes — at a time when it was ratchetting up circulation. From 2005 through 2008, the company’s combined printing, postage and in-the-mail costs increased 25 percent.
- People:
- John Kirsch
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