Areas of operation:
BM&T Hellas partner Critical solutions led restructuring of operations and assisted in the development of a new strategy plan. The franchising system was terminated, in favour of company-owned stores. Worked on a merger with the parent company in restructuring bank loans. Introduced a budgeting system that measures deviations to clear KPIs and advises on appropriate action. Guidelines were created for the handling of stock. Sales were improved from €3.5 mil (before the five-year plan) to €12.2 mil. Negative EBITDA turned sustainably positive.
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Notes, insights and reflections from Matthew, one of our directors and turnaround experts, as he works with companies during Lockdown.