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A PUBLIC RELATIONS BLUEPRINT FOR COMMUNICATING CHAPTER 11 CASES
July 28, 1988, Revco D.S., Inc., the nation's second largest drugstore chain, filed for protection under Chapter 11 of the U.S. Bankruptcy Code. The Wall Street Journal called it, "... the biggest leveraged buyout (LBO) failure in history."
From a communications standpoint, it represents one of the most complex Chapter 11 cases of this era. Strategies employed in communicating with key constituencies helped break new ground in public relations and, more importantly, have successfully supported Revco's turnaround. The program is a public relations blueprint for Chapter 11 and for the larger issue of corporate change in turbulent times.
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