Restructuring Survey

Case Study „Restructuring Survey“

Situation

  • Urgent earnings and liquidity crisis of an automotive supplier from the German Mittelstand
  • Endogenous and exogenous crisis causes
  • Refinancing necessary to avoid insolvency

Solution

  • Quick check / business review
  • Short-term liquidity support through direct measures in order to avoid insolvency
  • Preparation and implementation of a restructuring survey (IDW S6)
  • Achievement of a standstill agreement with the financing parties on the basis of the restructuring concept
  • Implementation of project organisation
  • Improvement of operating performance through material, personnel, and other expenses reduction measures
  • Concentration of locations, domestically and abroad
  • Implementation of commercial management and control systems

Result

  • Successful refinancing
  • Turnaround within two years with sustainable earnings improvement, increase of equity ratio, and repayment of long-term bank liabilities

About the client

  • Automotive supplier from the German Mittelstand with > €400m of revenues, > 3,000 employees and > 10 national and international locations