Business case
Our client, a sporting goods company headquartered in Germany, launched a major restructuring programme in light of declining profitability, with the programme including dozens of individual measures. Having never faced a restructuring programme of this size, the client needed in-depth accounting knowledge and financial advice for the process.
Apart from dealing with vast amounts of information related to the restructuring programme, effectively facilitating communication between our client and its shareholder was important. Since its takeover, our client had faced increasing reporting requirements, and as an independent adviser, we were able to provide guidance on how to standardise the reporting process and make it more efficient. Our performance reports helped the shareholder to improve its understanding of our client’s performance and to gain valuable insights into the internal reporting processes at the company level.
Our work consisted of several work streams including (i) IFRS advisory, where we prepared argumentation and documentation of restructuring measures for the auditor, (ii) the valuation of a portfolio of trademarks and (iii) the development of a tool to track the overall progress of the restructuring programme. In addition, as the reporting formats of the client and its shareholder were not fully aligned, we supported communication between the two parties and provided assistance in the preparation of certain performance reports. Ultimately, we generated several performance reports for the company’s shareholder.