The staid, nearly 200-year-old, tradition-laden British-based company (established in 1828) had just incurred a loss in 1999 of $104 million ($today).
The staid, nearly 200-year-old, tradition-laden British-based company (established in 1828) was being run like a British gentlemen's club. It had suffered through hard times, having just incurred a loss in 1999 of $104 million ($today).