My client:
Mid-sized plastics processor (injection moulding)
My Part:
Company officer with statutory authority, Interim member of the Executive Board, operational management in bankruptcy (self-administration)
Industry:
Plastics processing – automotive, white goods
Turnover:
€ 10 million
Employees::
75
Situation:
Insolvent company
Own area of responsibility (Turnover / Human Resources):
- Operational management as a counterpart to the attorney for insolvency law
Task:
- Stabilisation of customers
- Restructuring
- Stabilisation of employees
- Supervision of the sale of the company as an alternative to closure
Measures:
- Regular customer meetings and information
- Separation of unprofitable orders and price increases
Successes:
- Retention of all customers, stable customer supply
- Minimal employee fluctuation
- Company was able to survive through its own liquidity
Special challenge:
- Short-term assumption of responsibility for the company after a shareholder dropped out suffering from burnout
- Accounting department not in-house
- Consideration of various scenarios based on buyer’s requests
- Complicated situation with the owner family, employees and creditors
