Facts & experience

No more annual renegotiations. Created financial breathing space.

Bank credits and supplier lines restructured so commitments hold, maturities are stretched and the company regains secure financial headroom.

−70%

Short-term liabilities

+30%

Longer payment terms agreed

+3.5years

Average financing term

+4Mln

Equity

Initial Status Quo

High debt burden, tight covenant corridor

The company stood under high financial pressure: covenants were at risk, many liabilities due short-term and suppliers increasingly nervous. Goal was to create financial headroom again with going concern forecast, bank package, new debt structure and shareholder contributions.

Implementation

The most important steps

Lessons Learned

The most important conclusions summarised

You don't just control liquidity with working capital, but also with the structure of liabilities.

Without clear forecast no trust

Banks need facts

Banks and suppliers need a consistent picture for coming years – integrated planning is the basis of every restructuring.

Short-term lines aren't a permanent state

Actively manage maturities

Those who permanently finance investments through current account live dangerously. An ordered bank package creates stability.

Shareholders must come on board

"Skin in the game"

Without owner contribution it becomes difficult to convince banks and suppliers of concessions.

Covenants need early warning

Slips cost trust

Regular covenant checks and traffic light logic give time to act – before the contract is formally broken.