Benjamin Hawkins purchased Morse Brothers Inc. of Windham three years ago for $5

Authors

Source

Portland Press Herald

Date

3-29-1994

Pages

1C, 10C

Abstract

Benjamin Hawkins purchased Morse Brothers Inc. of Windham three years ago for $500,000, and when he needed cash to pay off a bank loan he sold his equipment to ITT Corp. and leased it back from the company. He was left with a cash crunch, and to raise money he offered his spring customers a discount if they paid for their orders in the fall. The offer netted more than $100,000, and is one example of the creative financing that some Maine businesses turned to during the recession. Details.

Subjects

Finance, Morse Bros Inc -- Windham, Benjamin Hawkins

Recommended Citation

"Benjamin Hawkins purchased Morse Brothers Inc. of Windham three years ago for $5" (1994). Maine News Index – Portland Press Herald. 12108.
https://digitalcommons.portlandlibrary.com/news_pph/12108