Van Twickelostraat 13
7411 SC Deventer
Restructuring, sale of assets & restructuring debt
Family business specialising in international crane rental and transport of exceptional loads. High financing costs due to accelerated investment in new machinery. Margin erosion due to drop in demand in construction and infrastructure from 2009 onwards. Liquidity problems as result of under-utilisation of machines and personnel. Rapid increase in arrears with creditors and lenders.
Restructuring officer dealing with sale of assets, especially cranes and vehicles, in Asia and North America. Manage working capital. Communication with creditors, tax authorities, financiers and other stakeholders involved in restructuring.
Planned sale of 30% of the machinery achieved within agreed time frame, working capital normalised, backlogs cleared and debts aligned with revenue levels. Resumption of positive cash flow generation. Next generation of family members eager to continue the business.