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. Visit casenet.ca for more free, open access decision focused video teaching cases from Acadia University.
Interviewee
Michelle Chong
Company
Industry
Business Activity
Honey Bun Ltd.
Wholesale Baked Goods
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
Teaching Objectives
Learn about wholesale bakery industry
Keywords
Turnaround
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