This is a good article to scan...
The Crash of the $8.5 Billion Global Flower Trade
https://www.bloomberg.com/features/2020-flower-industry-crash/
Doesn't seem to be hurting publicly traded competitor 1-800-Flowers:
https://www.fool.com/investing/2020/04/30/1-800-flowerscom-soars-18-as-covid-19s-negative-im.aspx
https://www.nasdaq.com/articles/whats-in-store-for-1-800-flowers.com-flws-in-q3-earnings-2020-04-28
https://www.fool.com/investing/2020/04/30/positive-guidance-and-strong-q1-results-give-1-800.aspx
How is it that Shari's Berries is doing so well for 1-800-Flowers after being sold by FTD when there are leaders going around FTD arguing how oh, they made some bad investments that led to trouble and eventually bankruptcy? By that logic, Shari's Berries should be dragging 1-800-Flowers down. Yet that isn't happening.
https://www.longisland.com/news/08-16-19/1-800-flowerscom-acquires-sharis-berries.html
The buck starts and stops with the leadership. Nexus should install a thin layer of more senior management ABOVE those currently in charge and manage them forward through desperately needed transition. Anyone who has worked through a private equity backed turnaround of a previously underperforming enterprise has witnessed how well this works. You take your current leadership team, with years of institutional knowledge, and essentially make them report to someone else, who retains more decision-making and new initiative planning/execution authority. Perhaps that's what the 20% pay cuts for the existing employees is going to pay for?
The great Jay will solve everything. The beatings will continue until morale improves.