Original sentence: During the COVID-19 pandemic, Escalade received $5.6 million in federally backed small business loans as part of the Paycheck Protection Program.Escalade paid the entire $5.6 million back on April 28, 2020, two days after the New York Times article.Fetherman announced his intent to retire, but would stay on until a successor was chosen.In 2022, Life Fitness agreed to sell its Brunswick Billiards business unit to Escalade for $32 million.In March 2020, Escalade announced a new CEO, Scott J.In November 2019, CEO David L.In October 2020, Escalade acquired American Heritage Billiards for $1.55 million.Sincerbeaux, formerly an executive at Wolverine World Wide.The company has access to a $50 million line of credit, has said they have a "strong balance sheet", and have seen increased demand for their products.The company received scrutiny over this loan, which was aimed at small businesses
Edited sentence: Escalade’s origin traces back over 100 years, when The Williams Manufacturing Company, a manufacturer and reseller of footwear as well as office products founded in 1922, teamed up with Indian Industries, an archery and table tennis manufacturer and reseller founded in 1927 in Evansville, Indiana which is still their headquarters today.Over the years, they’ve diversified their product lines and divested from others.The pair operated independently until a series of transactions in 1972-73 formed Escalade Inc.Today, Escalade is focused on sporting goods, indoor and outdoor recreation, and fitness