| Friday the Manitoba conglomerate, TSG, declared voluntary bankruptcy following the
unpleasantness of its employees receiving cheques that bounced only a week earlier.
The spectacle of companies becoming insolvent and throwing their employees out of
work is hardly unique, but that does not make it any less tragic. TSG has been one
of Manitoba's dazzling successes with a rapid expansion and development of a series
of related businesses that seemed to fit together pretty well. Growing from the purchase
of Delano Cabinetry, in 1989, Michael Shamray developed Delano and
from it, came up with the outstanding office furniture company Schmidtke Millworks
with its four hundred workers in Steinbach. But in the last two years with seemingly
endless amounts of venture capital, Mr. Shamray went on to acquire and develop a
whole series of companies: |
 |
1 2
3 