Thread regarding Follett layoffs

What’s Next

So what happens next? Someone on one of the more recent threads gave a timeline that effectively said something was happening with FSS on 9/1(that happened), FHEG by mid October, and B&T by end of year. Can anyone else corroborate this? Add details?

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Post ID: @OP+1cIK5g9s

9 replies (most recent on top)

Higher Ed and B&T are being shopped. But Family still not accepting reality of B&T having no value. When it was acquired six or seven years ago Follett was the only bidder. Higher Ed is a cluster. Huge debt, archaic systems, no IT, perceived dying markets for both printed text and brick-n-mortar stores. The only buyer d-mb enough to buy it already owns it.

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Post ID: @6gzt+1cIK5g9s

I think we will see a little in how much they push returns. If they don't push, it is most likely that they are going to focus an paying their bills and try to keep the company going. If they still push returns like they have the last few semesters it most likely means that they still need money and/or want to get rid of inventory so they can sell the company. Although, they could also be feelin' good about the money from the sale of FSS so they could just have a yacht party and still get behind on their bills and then need to sell in a month.

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Post ID: @5wtq+1cIK5g9s

I think we will see a little in how much they push returns. If they don't push, it is most likely that they are going to focus an paying their bills and try to keep the company going. If they still push returns like they have the last few semesters it most likely means that they still need money and/or want to get rid of inventory so they can sell the company. Although, they could also be feelin' good about the money from the sale of FSS so they could just have a yacht party and still get behind on their bills and then need to sell in a month.

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Post ID: @5eta+1cIK5g9s

I’m being picky so I don’t end up in a similar situation with a horrible schedule. I don’t hate Follett. I’ve some great times here working at 2 different stores. However, I know there’s no way this is going to last. The industry is dying. It’s inevitable. The uncertainty of when is stressful. Time to move to a growing store or industry. That requires making a good decision or being picky.

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Post ID: @3jhj+1cIK5g9s

You can’t hate it too much if you’re being picky!

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Post ID: @2cpc+1cIK5g9s

I don't see FHEG being sold. Too far in debt. Perhaps bankruptcy, reorganization?
Senior management stays. Blames Covid for 15 to 20 years of REALLY BAD DECISIONS. But don't worry, the FSS side of the family made out like bandits.
Just remember, you really bad works own this failure. Senior management NEVER fails!

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Post ID: @2vbg+1cIK5g9s

I really hate coming in to work everyday with uncertainty hanging over me. I wish leadership would be more transparent. Are we selling? Are we considering it? I’m looking but being fairly picky about a new job. I’m not looking to get into another situation of constantly worrying about my job.

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Post ID: @2vst+1cIK5g9s

I hope for everyones sake that is true. The first part of the previous declaration coming true is not encouraging for everyone in the latter.

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Post ID: @2wfq+1cIK5g9s

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