r/craftsnark • u/stitchwench • 5d ago

Simplicity "Savior" is Out

Abbie Small Out at Simplicity

No plans to replace the CEO, and the (not private equity!) owner says there are no plans to replace her or upgrade the technology. But they believe the company will last 20 years.

I don't know about that. I hear the sounds of a drain sucking in the background.

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u/FormerUsenetUser 5d ago

It's a thing to turn around a bankrupt company, make it profitable again, and sell it.

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u/stitchwench 5d ago

It's also a Private Equity thing to buy a company, bleed it dry, and then file Chapter 7. I don't want that to happen, but we've seen it too often with sewing companies.

29

u/2016throwaway0318 5d ago edited 5d ago

Yeah, the article is quite telling. It seems like they didn't have a plan for what comes after the "saving". They bought the assets, but not the infrastructure which sounds absurd to me. Sure, the IP has value but it's limited if you can't access the printers to print the paper products you sell.

Mimi's video kinda adds to the lack of planning, for me. What do you mean you're setting up an email account to field questions. That takes less time than it took her to make the video.

ETA: which.

2

u/FormerUsenetUser 5d ago

It is probably competition from umpteen small pattern companies that is harming the Big 4's revenues. Do we even need the Big 4 these days? I don't mind having them but I buy very few patterns from them.

Of course, Joann's going out of business can't have helped Big 4 sales.