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Our investigation and interim management helped strengthen the business, paving the way for a profitable rebound and sustainable growth.
Transformation Realised
Clearing a Path Forward for a French Luxury Startup
Transformation Realised
Clearing a Path Forward for a French Luxury Startup
Key Contacts
Getting to the bottom of an asset refit gone wrong.
A renovation project had fallen three months behind schedule, the launch date was repeatedly being extended and the budget had been greatly exceeded.
A French luxury startup faced a series of challenges with a major renovation project ahead of its launch date. Meeting the launch date was important to not miss another busy season and revenue opportunities. The owner of the startup, a U.S. private equity company, asked FTI Consulting to investigate the cost overruns and delays — only to discover a shocking conflict of interest that risked the viability of the project.
Our Impact
After an FTI Consulting investigation identified the sources of cost overruns and launch delays, the business was stabilised, stakeholder confidence was restored and the company raised €200 million in additional financing.
Slide for Hands of diverse business professionals pointing to financial charts and graphs on documents during a collaborative meeting, with a calculator and laptop in the background.
The almost simultaneous change of CEO and a key service provider was effectively managed due to a proactive communication plan built by our strategic communications experts in collaboration with the company, further strengthening stakeholder confidence in the organisation.
In crisis and transformation,what matters most is what you do next.
Our Role
Setting up dedicated teams and mobilising qualified experts
Once FTI Consulting had concluded its investigation and discovered the source of the issues, the owner engaged the team to help restructure the startup, function as an interim manager and oversee the startup’s rescheduled launch.
FTI Consulting forensic investigation and forensic technology experts uncovered existing conflicts of interest in the conduct of the refit project that led to the misuse of funds and documented the shared responsibility of the stakeholders.
The team preserved and collected electronic data, conducted business intelligence research and performed forensic analysis of the data collected to reconstruct the entire history of the renovation project.
FTI Consulting assumed interim operational management of the startup, ensuring a smooth transition when the new CEO was identified.
Working alongside us, our client was able to complete the renovation and launch the business during the peak season without any further delays to the project.
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