Why Is Briggs and Stratton Stock Falling?
The Company Said an “Unusually Wet Spring” in North America and Market Disruptions Caused by Channel Partner Transitions Caused “Difficult Market Conditions”...
The company said an “unusually wet spring” in North America and market disruptions caused by channel partner transitions caused “difficult market conditions” that led to shipments that fell short of expectations.
Why is Briggs and Stratton dropping?
Declining sales, looming debt payments, then the COVID-19 pandemic with its dramatic drop in lawnmower sales all combined to finally push the company into Chapter 11. Sales for the second quarter of 2020 were down by $107 million, or 18%, over the same period last year.
Is Briggs and Stratton going out of business?
Briggs & Stratton says it is not going out of business, and employees will continue to receive their regular pay and benefits. It says it will continue to operate and does not expect any interruptions.
Alexander Ross has covered the video game industry for a decade, writing deep dives on game design, esports tournaments, VR developments, and gaming culture.
