The emergency situation caused by Covid-19 is severely testing the Italian economic system and many companies, from different sectors and sizes, are facing severe difficulties, above all the lack of liquidity.
If made over an extended period of time, the lack of liquidity undermines companies’ ability to survive, generating concern and mistrust towards the future.
Duke&Kay is aware that we are all facing hard times, having shared many times these critical situations with distressed companies and then successfully restructured
Those companies managed to overcome the critical moments and restart with their activities, realizing their future with renewed skills and energies.
Duke&Kay is the partner able to develop and implement a solid business plan, as well as interact with the bank system, funds and institutions. Duke&Kay designs and execute corporate structural transformations through a detailed due diligence, an effective planning of the activities to be carried out and above all through a careful selection of highly skilled managers to realize what planned and then achieve the objectives set.
Specifically, Duke&Kay acts to carry out:
- Assessment of distressed situations, management of appropriate restructuring plans
- Taking over assignments the BoD for the Restructuring Plans implementation
- Finding financial partners interested in investing in Non-Performing Loans, supporting distressed companies
In Business Transformation Duke&Kay provides cover of the whole process or any individual phase; during these phases Duke&Kay has proven effective team-up with specialized advisors (i.e. Legal and Financial Advisors) and/or Accounting/TSA firms, without overlapping, but enhancing clarity, focus and speed.
It can also offer specific consulting services for Business Plan preparation and to implement any issues involved in the reorganization process.
Duke&Kay works with the incumbent Management Team, in cooperation with other trusted Advisors, to set up the Business Plan, discuss and share it with the identified Expert (when occur) and even running the current operations. Moreover, Duke&Kay works with Stakeholders and Lenders to reach the Restructuring Agreements.
Managing a distressed company requires bringing together specialists, such as workout bankers, financial advisors, lawyers’ expert in Bankruptcy Laws, for some long negotiations, with key Stakeholders. Once reached the Agreements, Duke&Kay can immediately deploy the Industrial Plan where each Executive of the Restructuring Team assumes a specific responsibility as CRO, CEO, CFO etc. as agreed/dictated by the situation.
Duke&Kay Team often plays a critical role; in fact, while the Chief Restructuring Officer and the other Executives, alongside the internal management, take over the Restructuring leadership (just for the minimum requested period) managing the different stakeholders, the internal management team continues to oversight of day-to-day business operations. These coordinated activities dramatically increase the likelihood of a positive outcome for the Company, its employees and all the other stakeholders.
Our experience bears out the Chief Restructuring Officer (CRO) can ensure that everyone works together and aligned to get the requested changes in the organization, with a transparent dialogue with all to lead the project to success.
By experience we have seen the CRO may take different kind of assignment, according to the purpose of the intervention/project, and therefore would have different responsibilities, from the pure Observer to an extremely powerful Board Member.
Duke&Kay Executives are usually committed as Board Members with ordinary and/or extraordinary powers.
If the Coronavirus emergency did not stop within the year and with measures that effectively stop the economy of the most productive areas of the country, one in ten companies will go bankrupt. This is the alarm from the Cerved Rating Agency study “Impact of the Coronavirus on the Italian non-financial corporates”, a leading rating agency in Europe.
Who is the Restructuring Manager or CRO?
CROs or the so-called “crisis managers” are managers with a significant experience in corporate governance and who have directly managed recovery processes. In their professional career, therefore, they have already experienced crisis management. They are concretely alongside companies to assist them to growth
