Declining revenues and inappropriate structuring of an acquisition led to bankruptcy threats

 

In the role as Chairman, replaced CEO and VP Sales, while renegotiating acquisition terms under continuos bankruptcy threats from creditors and other claimants. Renegotiations of loans and bridge financing from existing shareholders created breathing room for the company.

 

Supported the new CEO in down-sizing the organisation from 220 to 90 employees. Continuos communication with customers and suppliers to reassure them of the company's financial stability resulted in revenues stabilizing. The company, subsequently went through a restrurcturing, but survived and is developing today as a successful company.