Why did Sunbeam go out of business?
An internal investigation revealed that Sunbeam was in severe crisis, and that Dunlap had encouraged violations of accepted accounting rules. Dunlap was fired, and under CEO Jerry W. Levin, the company filed for Chapter 11 bankruptcy protection in 2001. The lawsuit alleged that Sunbeam and Dunlap had violated the Securities and Exchange Act of 1934 by misrepresenting and/or omitting material information concerning the business operations, sales, and sales trends of the company.
Is Sunbeam an Australian brand?
The company began in Australia in 1902 as a small branch of the American group, Chicago Flexible Shaft Company. The name was later changed to Cooper Engineering Company. The name changed again to Sunbeam Corporation in 1946. The company became publicly traded in 1952 and came into Australian ownership in 1987. The ‘Sunbeam’ name was registered by John Marston in 1888 for his bicycle manufacturing business and Sunbeam motor car manufacture began in 1901. The motor business was incorporated into the Sunbeam Motor Car Company Limited in 1905 and Sunbeam motorcycles were not made until 1912.The company began in Australia in 1902 as a small branch of the American group, Chicago Flexible Shaft Company. The name was later changed to Cooper Engineering Company. The name changed again to Sunbeam Corporation in 1946. The company became publicly traded in 1952 and came into Australian ownership in 1987.
Is Sunbeam a Chinese company?
Sunbeam Products is an American company founded in 1897 that has produced electric home appliances under the Sunbeam name since 1910. Sunbeam Products is an American brand that has produced electric home appliances since 1910.