Tracking FTD...to its end
This semester, students in Mike's Advanced Strategy Seminar focused on Corporate Turnarounds took a closer look at FTD Companies, the 108-year old floral delivery company. Alas, in a span of just a few months, things have gone from bad to worse, with management announcing that failure to repay or restructure its debt by June will mean lights out. Through a series of strategic missteps, including acquisitions of Provide Commerce and BloomThat, as well as an eroded value proposition to florists and customers, FTD is facing imminent extinction. An interesting and useful inquiry, nevertheless.