Companies in crisis
Big topic with the following keywords: early warning system, under-balance sheet, balance sheet over-indebtedness, declaration of subordination, profit participation capital, mezzanine capital, impending insolvency, IdW S 6, IdW S 11, illiquidity, talks with banks and other creditors, application for insolvency – we go down this path together with our client and his family, towards reorganization or the best possible outcome in the context of a merger, liquidation, sale or, if need be, insolvency.
Counteract, turn around or save what can be saved.
Sometimes a perfect storm hits a company: Industry orders less from your customers, who in turn reduce their purchases from you. Your stock has just been replenished and a major investment has just been completed. The balance sheet shows low equity, perhaps even balance sheet over-indebtedness, liquidity is slowly running out.
New bank loans are only available with a plan on how to get out of the crisis. Entrepreneurs and tax advisors work very closely together and share the work: The consultant prepares the liquidity planning and the figures for the restructuring plan. The entrepreneur involves his senior staff, maintains contact with his bank and with the main suppliers.
We have had good experience with self-administered restructuring, but we have also accompanied insolvencies that have enabled a new start for the company and the entrepreneur. Together with the owner, we have drawn up reorganization plans with which we have convinced credit institutions, creditors and employees of the company’s ability to continue as a going concern.
We support the managing director in navigating the pitfalls of insolvency law so that the company crisis does not turn into an insolvency delay, but a way out of the crisis. We prepare expert opinions according to IdW S6 (restructuring expert opinion) or to determine the time of insolvency according to IdW S11 if necessary and therefore have the experience to use a crisis for a turnaround.
Further services
We help you to see through the jungle of German tax law.
Company purchase and sale
As a rule, you only sell your own business once. Taking over a market competitor can be part of the strategy or a happy coincidence. We plan and structure the process with you, even across borders, and actively participate in its implementation.
Financial and investment planning
Sure, you can do without – if you have enough money in your account or know what works from your gut. For everyone else: Makes sense! Planning with details on depreciation, personnel cost development, development of inventories and changes in inventories, pre-tax and after-tax results, with cash flow and assessment of debt servicing capacity is indispensable if a really big investment is in the offing.
Payroll and financial accounting
Payroll and financial accounting is the foundation for annual financial statements and tax returns. The highest possible quality not only minimizes the risks in audits, but also provides you with a clear view of your company’s development at all times.
Your contact persons
Uwe Goebel
Managing director, tax consultant, lic. oec HSG
Stefanie Hülsmann
Managing director, tax consultant, business graduate (FH)