Turnarounds in the narrower sense make extremely high demands on the company's management given the pressure to take fast-track action. Especially in the initial phase, it is central to introduce a whole range of different immediate measures.
Our range of services for companies requiring a rescue package includes:
- Chairing / conducting negotiations with lenders (meetings at banks), owners, suppliers, employees' representatives
- Definition / implementation of immediate measures, e.g. to secure liquidity
- Drawing up of continuation forecasts, taking into account alternative ways of rescuing the company (e.g. takeover, breaking up the business)
- Creation of a turnaround concept (generally within two to four weeks) as a basis for decisions by lenders and creditors
- Drawing up of balance of interest and social plans, and negotiations with works councils or trade unions
- Determination of the communication strategy, preparation for giving controlled information to staff (mass meetings), press, customers, suppliers
In order to make sure that the rescue plan is implemented thoroughly, BGP is prepared to provide interim managers with wide-ranging experience of restructuring measures.