in 1981 Sunbeam was acquired by industrial conglomerate Allegheny International,which fell into bankrupcy in 1988 because of economic difficulties in its other divisions. Michael Price, Micael Steinhardt,and Paul Kazarian bought Allegheny from its creditors in 1990 and named the company Suunbeam-Oster.
Kazarian assumed the positions of CEO and chair. Under Kazarian's leadership'the company paid off its debt,reorganized operations, and cut its workforce dramatically.