Honey Bun Ltd.

Michelle Chong is a co-owner with her husband of Honey Bun Bakery, located in Kingston, Jamaica. Some years ago Jamaica ran into a terrible situation. There was a significant currency devaluation and interest rates were significantly higher than almost anywhere in the world. The rates went from 6% to 20% to borrow money. As a result the rental on the retail outlets from where they operated increased by almost 500 percent. They ran into a very bad situation because it became almost impossible to cover the rent at that time as well as cover the expenses in their two retail operations. So their challenge was what to do given that situation.

Interviewee

Michelle Chong

Company

Industry

Business Activity

Honey Bun Ltd. 

Wholesale Bakery

Manufacturing

Headquarters

Kingston, Jamaica

Size

Medium

Employees

25 to 500

$1 million to $25 million

Yearly Revenue

Private Company

Type of Entity

Subject

Management

Level of Difficulty

Easy

Enhance turnaround management knowledge

Teaching Objectives

Keywords

Turnaround

Additional Info
Teaching Note

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