Subscribe to Entrepreneur for $5

Playing For Keeps

Buying a bankrupt business was only the first step. Here's how two entrepreneurs turned a failing company into a multimillion dollar success story

This story appears in the August 1998 issue of Entrepreneur. Subscribe »

Even under the best of circumstances, taking the entrepreneurial plunge requires courage. But for a first-time business owner to willingly take on the challenge of rebuilding a business from the roots up takes true grit.

After a leveraged buyout from its founders in 1991, the once-successful Raleigh, North Carolina, residential playset manufacturing company Woodplay had plunged into bankruptcy and receivership. By late 1993, the company was up for grabs to the highest bidder.

Continue reading this article - and everything on Entrepreneur!

Become a member to get unlimited access and support the voices you want to hear more from. Get full access to Entrepreneur for just $5.

Entrepreneur Editors' Picks