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Subject: Re: When a company goes out of business
From: Tom Wilson <[log in to unmask]>
Reply-To:Records Management Program <[log in to unmask]>
Date:Fri, 21 Nov 2008 14:28:47 -0600

text/plain (38 lines)

John: When I originally asked this, it came from seeing news about the big
three automakers and thinking about all the industries that supply them.
Those small to medium size businesses that could feed off this industry and
what might happen if one or more of them just went out of business.  With
regard to closures, does this paper detail both the closing of a division or
subsidiary or does it discuss a full out closure?  I've been through several
what I would call sub-closings in my career where we close an office or a
subsidiary corporation, but in thinking of vendor relationships, especially
any where third party vendors hold unique information, what happens to
records if they simply close.  Obviously this should be covered or amended
into contracts, but I see this full vendor company just closing as distinct
from a building, plant, divisional or regional office of an operating
company closing.  And my thanks to those who have responded. 


For those of you that might be interested. You can get a pretty relevant
research paper on this subject as a free download:

RIM Checklist for Mergers, Acquisitions, Divestitures, and Closures-A Study
by John T. Phillips, CRM, FAI. Project underwritten by the Twin Cities
Chapter of ARMA International.

The report download menu is at:

As a brief reflection on the parts of this thread that I have read, I can
say that the report's findings will show there is little in the way of
"standards" regarding dealing with these issues. Companies vary greatly in
what they do, and the Records Manager is often both caught in the middle of
the chaos and responsible for resolving it.

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