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O M Edwards Co closes after heavy borrowing and missteps
The O M Edwards Co founder Bud Edwards faced mounting debt as orders dried up and suppliers pressed for cash. The Syracuse glove window firm shut Sept 9 1987 after labor costs and a failed push to regain key contracts, leaving 160 workers unemployed and a pension shortfall. The Pyramid Cos planned Franklin Square redevelopment paralleled the collapse as managers argued over liquidity and leadership. For creditors, buyers and former staff, the case highlighted rapid growth, dependence on big accounts, and a costly, unresolved bankruptcy filing.
MENTIONED IN THIS ARTICLE
Bud" Edwards Jr
Bud Edwards
Comstock
0.M. Edwards
Ite
Agente Maur
Oller
A.M. Edwards
Edwards
O.M. Edwards
D.M
W. Beard Ave
Plum
Solar Streets
America
Navy
O.M
Harold
Naval Academy At
Annapolis
Harold Edwards
Bud” Edwards Jr
Naval Academy
Harvard University
General Motors
American Telephone & Telegraph Co
Hulls Wolly
Syracuse University
Onondaga
Bud
At&t
Kim
France
Kimn
Plum St
M. Edwards
Ironworkers Local 612
Pyramid Cos
Oil City
Franklin Square
City Hall
Pyramid
Marcane
Bruce Kenan
Sally
Syracuse
Peter L. Hubbard
Hubbard
Pension Benefit Guaranty Corp
Ers
Jane Haden
Eee Ware
Beclawat
James Peter McGewan
Robert Papworth
G. Robert McAllister
Harold Goldberg
Goldberg
American Seating Co
Grand Rapids
Mich
AUS
Whitly
McAllister
O.M. Edwards Co
U.S
Marine Midland Bank
Bank
American Seating
Michigan
Tennessee
Canada