A German fashion company initiated a restructuring in 2021 in the midst of a pandemic and supply chain challenges arising from the ongoing war in Ukraine. We secured a refinancing, stabilised the liquidity situation and managed the operational turn-around, all while proactively engaging in multi-stakeholder communications to navigate the reputational risk stemming from the bankruptcy proceedings of one of the company’s brands.
The company secured more than €120 million in refinancing with an international financing consortium and a German large-cap bank as arranger.
We facilitated the internal enablement of key finance functions and liquidity planning processes to support the transformation of a self-administered spin-off.
We proactively engaged stakeholders in communications, ensuring financial stakeholders and clientele did not lose confidence and top performers were retained along the way.
Our client sought to proactively manage the narrative around the firm’s restructuring and the insolvency of one of its German retail subsidiaries, which it planned to spin off. The company expected significant media and stakeholder scrutiny and engaged our communications experts to prepare communications around the proceedings and closely monitor the media.
FTI Consulting’s restructuring and strategic communications experts advised the company throughout its restructuring.
An FTI Consulting expert was named as Chief Restructuring Officer, ultimately leading a team of our professionals through the debt reduction process, monitoring the divestment of assets, engaging in group-level and entity-level liquidity planning and managing the implementation of restructuring measures.
We helped the company manage reputational risk by proactively getting key messages to relevant internal and external stakeholders and providing change impact analyses and a full range of communications assets.
In 2024, the company appointed a new CEO in a leadership change that marked the completion of its successful restructuring process.
Flexibility is probably one of the most important success factors within our projects. Because of the ever-changing environment, we have to think in options, the various ways to move forward to find the right solution.
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