Continuation of operations of another welfare association ensured
We are pleased to have once again sustainably secured the business operations of a welfare association with over 200 employees by raising new financing and restructuring the debt service.
At the beginning of the engagement, the association was in acute danger of insolvency due to due liabilities and salary payments. This resulted from strategically wrong decisions of the previous management and mismanagement in the individual business units.
During the two-month project, we initially focused on the preparation of a short-term liquidity and integrated corporate planning. In this context, we supported the management in particular in the elaboration of specific measures to increase gross profit and reduce operating costs. The next step was the development of a sustainable corporate plan with a turnaround within two years. In this context, we also implemented a sustainable restructuring of debt service outside the turnaround period.
Thanks to the good cooperation, we were able to set the necessary course and thus ensure the continuation of operations. We wish the company continued success!