Crisis Leadership: Ratners’ Post-Scandal Brand Reinvention Through the Lens of Situational Crisis Communication Theory (SCCT)
Gerald Ratner’s infamous 1991 speech—where he jokingly called his products “total crap” and claimed prawn sandwiches outlasted Ratners’ earrings—triggered a £500 million market value collapse and became a textbook example of preventable crisis mismanagement. The fallout and subsequent rebranding of Ratners as Signet Jewelers in 1993 offer critical insights into Situational Crisis Communication Theory (SCCT), demonstrating how leadership […]