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
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