Dorsey Trailers hires turnaround specialist
ATLANTA (Oct. 30, 2000) — Amid a cash crunch and sharp drop in sales, Dorsey Trailers has hired a turnaround specialist to help the company restructure.
The trailer manufacturer contracted the The Recovery Group, a crisis management consulting firm.
“This downturn in the industry has had a dramatic affect on Dorsey’s operating performance and has restrained the company’s liquidity position,” said Dorsey chief executive John L. Pugh. “We are looking at all actions necessary to improve our current cash position and provide a roadmap for improving our operating performance. The company does not foresee a significant increase in trailers purchased during the remainder of the year into the first quarter of 2001; therefore, all actions are being predicated on a continued soft demand for new product.”
Dorsey Trailers, Inc. designs, manufacturers, and markets a broad line of trailers through three plants located in Alabama, Georgia, and South Carolina.
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