Advice with the restructuring / rehabilitation of companies
Depending on the situation of each company, the scope for actions as well as the challenges for responsible persons in the company and therewith the advice for restructuring or rehabilitation varies greatly. It is best to become aware of strategy crises early on and to identify the need for restructuring and to introduce the relevant change processes. With companies who find themselves already in an advanced phase of a performance and liquidity crisis, however, it is necessary to ensure continuity before a restructuring plan with measures for sustainable profitability and competitiveness can be drawn up.
Crucial for the success of a collaboration with the client is to determine, right at the beginning and during the first contact, the economic situation and, if necessary, the stage of crisis of the company and to define it jointly, quickly and in a transparent manner. Especially in the case of an acute liquidity crisis, it must be immediately determined whether insolvency of the company is predicted, so that suitable ad-hoc measures, which can be applied quickly, can be chosen to overcome the crisis.
Management is obliged to timeously introduce the necessary measures at the first signs of a developing crisis with a company in crisis.
If no legal or factual circumstances point against further company activity and reasons for insolvency, especially bankruptcy or imminent bankruptcy, can be eliminated or excluded at this point, a rehabilitation process with suitable rehabilitation measures can be worked out (two-step concept). The rehabilitation concepts as created by hahn,consultanst comply with the German Federal Court jurisprudence of supreme court requirements and generally even with the requirements and rehabilitation concepts of the IDW (German institute for chartered accountants), which go over and above the former. The specific relevant requirements for a rehabilitation concept are decided on in close collaboration between the client, hahn,consultants and the most important stakeholders, mostly and especially the financing partners before the start of our work. In this context it is mostly the legal risks of the involved stakeholders which must be taken into account.
The main parts of a rehabilitation concept are the description of the subject matter of the contract and its scope, the depiction of the initial economic situation differentiated according to market, provision of services and finance, the analysis of the crisis stage and the reasons for it, the presentation of the mission statement of the rehabilitated company, measures to manage the company crisis and an integrated business plan. The desired formal confirmation of the ability to rehabilitate the company is subject to specific conditions. The success of rehabilitation is relative and dependent on the quality of the rehabilitation measures, the will to implement them and the change organisation of the client.
If the client company does not find itself in an acute company crisis, we are guided during the development of restructuring concepts by the GoRS (principles of orderly restructuring). Depending on the initial situation and the task at hand, the concepts refer to sub-areas in the areas of market, service provision and finance or also to the entire company or the entire group. The restructuring concepts are, however, often also guided by the IDW S 6 standard.
The main parts of a rehabilitation concept are the description of the subject matter of the contract and its scope, the depiction of the initial economic situation differentiated according to market, provision of services and finance, the analysis of the crisis stage and the reasons for it, the presentation of the mission statement of the rehabilitated company, measures to manage the company crisis and an integrated business plan. The desired formal confirmation of the ability to rehabilitate the company is subject to specific conditions. The success of rehabilitation is relative and dependent on the quality of the rehabilitation measures, the will to implement them and the change organisation of the client.
If the client company does not find itself in an acute company crisis, we are guided during the development of restructuring concepts by the GoRS (principles of orderly restructuring). Depending on the initial situation and the task at hand, the concepts refer to sub-areas in the areas of market, service provision and finance or also to the entire company or the entire group. The restructuring concepts are, however, often also guided by the IDW S 6 standard.
hahn,consultants apply their multiple experiences, which they have gained while providing consultation for companies in crisis situations with sometimes significant pressure to change, in a focused way – to project management, to the understanding of the business model and the value creation structure of the client company, to the provision of an integrated finance plan based on the complex, tried and tested planning tools, to the communication with financing partners and further stakeholders or, afterwards, to the implementation of rehabilitation and restructuring measures. If necessary, we assist with interim filling of management positions for temporary and/or content-related interim management vacancies.
Our services at a glace:
- Crisis management, stabilisation and emergency measures
- Holistic restructuring concept acc. to IDW standard S 6
- Evaluation of solvency / imminent insolvency / over-indebtedness / declaration of insolvency acc. to IDW standard S 11
- Short-term liquidity planning (13 weeks)
- Implementation of the rehabilitation measures
- Moderation/mediation between interested parties
- Securing the financing of the restructuring process
- Business advice surrounding insolvency
Read more
Download the latest PDF on the subject of "restructuring / rehabilitation" here
Read more
Download the latest PDF on the subject of "restructuring / rehabilitation" here
Back to the overview of our services