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by The Midaic Republic of Midand. . 24 reads.

Special Economics History Report: MNSC Files For Bankruptcy


Special Economics And History Report
MNSC Files For Bankruptcy



(the company's new logo after a "desperate" rebrand)
MNSC filing for bankruptcy after only 5 years in business
The MNSC (or Midandian National SPIT Co.), after only more than half a year of being a completely private company, has now filed for Code 3 Bankruptcy (only applicable to Midandian operations), causing investors and the public to start losing hope, in what was once "a great company".
The Midandian National South Pacific Ice Tea Company was started in 2006, as the Doggone Good Tea Shop, a small chain of stores dedicated to selling many types of tea kits, sets, and tea itself. The Doggone Good Tea Shop was founded by struggling businessman and well-known ice tea enthusiast Joseph Rhodes Jr., who had sold off his previous chain - a kitchen supply store - a few years earlier. The store struggled for years, suffering severe financial problems and reporting extremely low profits.
However, Joseph's employees and business partners were inspired by his endurance and attitude, even when the chain was suffering. Joseph was killed in a car crash a year later, though his business partners, mainly his right-hand man Robert Ronald, were still determined to honor his legacy and his endurance.
The company continued struggling for decades, though Robert still managed to keep the chain afloat, adopting Joseph's business model and endurance. The company finally gained attention from financial holdings company, the Financial Production Co., (now bought, split, and dissolved by the Midandian megacorporation and bank, Midand Global Corp. and Central Financial Services respectively) who were impressed by the chain's business model and Joseph's previous endurance and attitude.
The Financial Production Co. then bought the chain, providing financial support and propelling the business forward considerably. The FPC cared for marketing while Robert continued employing Joseph's business model, and the Doggone Good Tea Shop began reporting record high profits.
Robert was then promoted to chairman at the FPC, leaving the Doggone Good Tea Shop to Gary Gregory, a businessman who frequently worked with Robert with the board of directors. Gary had a mostly uneventful tenure as CEO of the chain, until a new revolutionary product entered the market.
South Pacific Ice Tea, or more well known as it's acronym SPIT, had the region of the South Pacific in a craze, with many different SPIT companies emerging as profitable companies.
Gary, being a very innovative man, announced the mostly controversial decision a few years later, announcing that the Doggone Good Tea Shop would begin a slow transformation into a chain primarily producing, shipping, and selling SPIT.
The decision was controversial, with many accusing Gary of abandoning the company's roots and making extreme decisions for the company, with some of the company's employees and even a few of the board of directors threatening to leave. However, Gary went through with the transformation.
Many economic critics have called the transformation "one of the smoothest" they ever saw, with the company managing to keep profits and sales up, even through the controversy of the change. The company's name was changed to the Midandian Doggone Good SPIT's and Tea, and mostly shipped out, packaged, and sold SPIT's in different locations and online. Tea and tea kits were still sold, which was described by Gary as "keeping the old memory alive".
The chain stayed like this for the next few years, and set new record high profits when the TSP SPIT craze had reached it's absolute peak.
By then, the Ministry of Economics and the Midandian Private Agricultural Society (a government-owned company that sponsors growth of different beverage and agriculture-based companies) approached Gary and asked him about a new rebrand, to a wholly government-owned subsidy to exclusively sell SPIT.
The company voted in favor, after seeing the smooth transformation to SPIT's, and MIPAS bought a majority stake in the company from the FPC and started a new (yet also controversial) rebrand and reorganization of the chain.
The name was changed to the Midandian National South Pacific Ice Tea Company, or the Midandian National SPIT Co., or MNSC for short, and had many of their original stores closed down, with MIPAS opting for full production and shipping instead.
Many criticized the decision, with fans of the original chain even protesting in front of the MNSC and MIPAS headquarters. However, Gary continued with the new rebrand, citing Joseph's endurance.
The MNSC opened a new chain of factories across Midand, devoting the company to SPIT production. The transition also went relatively smoothly, and soon profits and sales "soared".
The MNSC later received a new surge in profits after the introduction of multiple flavors, including Sweet Cherry Breeze, Fizz, Extreme Fruit Blast, and Pineapple and Mango Fruit Blast, all of which the MNSC has said were "huge successes".
The company later became Midand's largest company by number of sales, and had become a sizable competitor to the SPIT industries of Volaworand and Aumeltopia. It had even bought a 10% stake in North prarie's STAR SPIT industry.
The MNSC continued reaching record high profits year after year, and had announced it was "on track" to becoming a fully independent company away from MIPAS.
However, the first turning point in the MNSC's history struck the company. Volaworandian officials announced that records and sales charts in the company were fabricated, and that the true totals of the MNSC actually placed it farther down than multiple other companies.
The company apparently "never truly recovered" from the incident, and the company reported it's first true loss in profits in their annual report, with sales and revenue taking a sharp decline, by as much as 40%. Company value dropped.
Gary later resigned from the company, which many accredited to "disgrace".
The company then struggled with keeping above the profit line for the next few years, to the point where some factories even closed down and the MNSC announced a potential move to Central Financial Services.
The company reached it's lowest point when MIPAS started selling off certain assets and divisions of the company, with the apparent intent of slowly selling off the entire company bit by bit. The MNSC struggled to keep above the profit line.
However, profits slowly started rising again after a while, perhaps due to renewed interest by consumers, and the MNSC slowly started to regain some of its previous totals during its peak.
Recently, MIPAS sold the MNSC to a new private company the MNSC constructed, Midandian Foods and Beverages Co., and the MNSC had become a completely private company, now operating on it's own funds. With more freedom in what to do, the company once again reorganized itself and reiterated it's assets. The MNSC's profit then slowly began increasing, and many described it as a new "Renaissance" for the MNSC. The MNSC had also been in talks to begin with plans for their IPO for next year. It then released 2 new flavors, which were moderate successes. This era was now known as the "New Resurgence" for the MNSC. Though the opposite happened just a few months later.
Earlier this year, a catastrophic computer system failure at SevCo (now defunct), a global Internet and server company headquartered in Midand, which MNSC used for a majority of international and domestic operations, caused almost all of the MNSC's current records to disappear and many of their systems to crash and fail.
Many say this was the "final" turning point for the MNSC, as records of millions of past and future orders and integral computer systems and programs that kept the company were lost.
The company never recovered from the incident, and within weeks, their charts plummeted. Many different suppliers, partners, and buyers cut ties with the company due to it's response to the incident, and the MNSC dropped further down.
The MNSC then canceled plans for it's IPO, and began selling off certain assets, including previously acquired companies (ie, Midand Fried Dog) and began restructuring itself once again.
In that year, the MNSC closed about 10 factories and even discontinued their Fizz flavor. What did not help things was a failed negotiation between the MNSC and international megacorporation Midand Global Corp. over merging certain assets over both companies. They sold off their stake in North Prarie's STAR SPIT industry and slowly began "shutting itself down", as revenue continued to fall as consumers flocked to alternative beverage companies.
A few days ago, the Midandian National SPIT Co. and it's parent company filed for Code 3 Bankruptcy under the Midandian Teasury. While uncomfirmed, reports have said that it's only doing this so it has room to restructure and reorganize one last time, and is in talks with Midand Global Corp. to be bought and potentially dissolved.
The MNSC has said that it "will recover", though fans of the company say otherwise.
The fate of the MNSC still remains unclear, and many have even staged a mock funeral outside of one of it's factories in Midandia.
"This was once a great company", an anonymous consumer said. "I will hate to see it go. I urge all to pay their respects, and raise their MNSC bottles...maybe for the final time."

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