Nearly five months after shutting down due to COVID-19, Tuxton, a second-generation, family-owned international dinnerware distributor with customers like Applebee’s and Chili’s, was on the verge of bankruptcy.
Sales plummeted by 50% in March and another 95% in April, forcing the company to furlough all 45 employees, according to Joyce Lam, the financial analyst of Tuxton. A Paycheck Protection Program (PPP) loan from the federal government seemed like the only route to survival.
As the latest generation that will eventually inherit the business, Lam and a group of her millennial cousins dedicated themselves to the survival of such a quagmire.
Grace Cong Sui 