May

24

 Jackson Hewitt, symbol=JHTX, the nation's 2nd largest tax preparer filed for Chapter 11 Bankruptcy this morning. In the press release announcing their bankruptcy, Philip Sanford, President & CEO wrote: "….The Jackson Hewitt brand is greatly strengthened by the actions we are taking today, and we can confidently begin our preparations for the 2012 tax season and beyond…"

Might I offer a bit of unsolicited advice for Jackson Hewitt's CEO:

Filing for bankruptcy is NOT a brand-enhancing event — and especially not for a tax-preparation company. Accordingly, I'd suggest that he cancel the upcoming TV advertising campaign which uses the slogan: "File your taxes with Jackson Hewitt, and we'll show you how to go bankrupt….We're the Experts!"

(A better approach towards enhancing the brand might have been to cut the SG&A over the past several years.)


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4 Comments so far

  1. William Kabourek on May 24, 2011 6:59 pm

    I haven’t bothered with any Jackson Hewitt research, but my flip comment is that the press release and the company’s view of branding fits nicely with a CEO that endorses standing on the roadside and twirling a sign during tax season.

  2. Steve on May 25, 2011 8:30 am

    I read this a bit differently. I think they just did not word things as well as they might. I see the point he was trying to make, he just did not do a very good job of it. “By taking these steps, we help insure the strength of the company moving forward in this very difficult economy.” And so on and so on……….

  3. Steve on May 25, 2011 11:49 am

    With all due respect with the twirling sign, I have seen similar from Domino’s and others. By your comments if for nothing else, you have to admit it worked the twirling of the sign with the statue of liberty, you nothiced it. And I am sure it appeals to a certain segment of the population.

    The bigger problem is that 50 % of the country pays no taxes so therefore there is not as much need for tax return help that perhaps there once was for Jackson Hewitt. And of course it is extrermely seasonal.

  4. david on May 26, 2011 2:41 am

    I don’t know, the photo looks like a ribbon cutting by wal mart employees ready to greet you……that can’t help the image or it might explain it

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