Transformation & Restructuring

Together with Ufenau Capital Partners, enomyc is building a consulting platform for transformation and restructuring. Julia Hammer explains why the market is calling for it now and what changes for clients.

Many Mittelstand production networks have evolved over time and no longer fit volatile markets. Christian Zeller and Max Stehr explain which level of intervention makes sense and when.

A restructuring plan in accordance with IDW S 6 is more than a mandatory report for the bank. Dr. Stefan Frings and Tom Hammer explain how it creates financial security and strategic clarity.

Is this impression misleading, or are strikes becoming more common? Which industries are hardest hit? And how well prepared are medium-sized companies? “In my experience, not well at all,” reports Thomas Wahlig, specialist lawyer for labor law, “but the unions are just as bad.” This could make companies vulnerable to blackmail very suddenly. And this at a time when German SMEs are in the midst of an unprecedented wave of restructuring. Thomas Wahlig is a partner at Pusch Wahlig Workplace Law and specializes in collective bargaining and works constitution law, particularly restructuring. He says that companies planning restructuring should check their strike resistance very carefully in advance. How? With due diligence. We interviewed him.

In recent months, many small and medium-sized enterprises (SMEs) have faced existential crises due to challenging economic conditions, the unique structural situation in Germany, and the lasting effects of the COVID-19 pandemic. The situation has been further exacerbated by sharply rising capital costs, increased risk aversion among financiers, and repayment obligations from the pandemic period. According to enomyc author Dr. Stefan Frings, these multiple crises present the perfect opportunity for decisive and consistent action. Often, it takes significant pressure before stakeholders are willing to confront harsh realities and, with careful consideration, bring an end to long-standing but unsustainable practices.

While crises used to be exceptions, they have become a constant state due to the pandemic and wars. The business world is not exempt, with many companies currently facing turmoil. Martin Hammer, founder and managing partner of enomyc, has witnessed over a thousand companies in crisis and has successfully led many out of trouble. Here, he discusses the causes, symptoms, and the Tarragona Strategy, a proven concept in both medicine and business.

The StaRUG x Leoni AG case is making history in corporate restructuring. Specifically, it represents a paradigm shift. According to the summary of the restructuring plan, the expected return for the shareholders affected by the plan in the next best alternative scenario was 0%. This has never happened before. How has this case affected restructuring practices since then? Who are the winners and losers? And what opportunities or risks does StaRUG hold for LLCs? Ralf Ehret, Partner and Head of Debt Advisory, provides insights.

Dass sich die Krise erst jetzt, knapp drei Jahre nach Ausbruch der Pandemie, in Bilanz, GuV und Cashflow der Unternehmen bemerkbar macht, ist auch auf die nach wie vor gestörten Lieferketten zurückzuführen. Materialknappheit und fehlende oder immer teurere Transportkapazitäten vor allem aus Asien beeinträchtigen den Zufluss von Produkten und Teilen. Um in dieser Situation eine verlässliche Warenversorgung sicherzustellen, haben viele Unternehmen große Sicherheitsbestände aufgebaut. Auch das bindet ordentlich Liquidität.