Case Study Reed's Clothies
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Prepare a 350-700-word case study analysis of Case #16: "Reed's Clothier" located in the Cases in Financial Management text, by Sulock and Dunkelberg. Be sure to address the following in your analysis:
a. Briefly summarize the case.
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Jim Reed, II went to meet with his banker, Harold Holmes of First Virginia National Bank, which is the only bank that Reed's Clothier used since its establishment. Holmes had informed him that they can no longer extend their line of credit and demand for the repayment of the over due note payable of $130,000 within 30 days and suggested Jim to reduce the store's inventory via sale, which is against its traditional semiannual sales in January and July.
Reed's Clothier was founded in 1934 by Jim Reed after he had completed his military tour targeting at Virginia Military Institute (VMI) graduates who lived in and around Lexington, Virginia. Sales ...
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