18 pages (4500 words)
, Research Paper
In 1986, Steven Nichols bought the company for $20 million. Nichols was then the president of Strike Rite, the maker of Keds. In the next three years, the company was in crisis, but adopting a series of brilliant strategies, Nichols turned it around and when the company went public in 1990, all of its start-up debt was wiped out, and what followed were more than a decade and a half of furious growth and profits until the company recent stumble.