Today we received a phone call from the folks over at DWR, telling us that Ray Brunner, their CEO, had just published a post on their blog, which was due in part to a post on ours last week, DWR Up For Sale?, and that we should check it out.
We did. It's a great detailed explanation of what DWR is going through right now and clearly details that they were approached by a private equity firm and were asked by their board to entertain the offer....
More importantly is the question of how DWR is doing. To this, Ray also generously goes out of his way to offer explanation:
"How are we doing? Well, thanks for asking. The management team and all 400 of our people continent-wide are doing everything they can to insure we remain a viable and healthy business, in spite of the turmoil in the larger economic environment. We have certainly seen our sales affected by the general economic downturn. However we have reduced our expenses from last year, stepped up our promotional activity and now believe that we are generally prepared for a long winter."
We really hope so and want to be the first to say that we have been and continue to be big fans of DWR. Despite the occasional jab, joke or complaint our coverage of DWR has been copious and positive, and we've meant it. DWR has been a tremendous resource for modern furniture in the US, and we would like to keep it that way. As Martha would say, "It's a good thing."
But we're not so sure about liking the private equity firm and hope that they avoid that fate.
Our vote goes to Ray, his team and the many many incredible studio managers we've met along the way. We support you doing it yourselves, pulling through the long winter and coming out stronger on the other side.