KRIZIK’s traditions in the city of Presov, in the east of Slovakia, are reaching 1949, when the cornerstone was laid down to the manufacturing plant producing single-phase electricity meters. Millions of KRIZIK’s electricity meters were sold not only in Slovakia, but also across the globe. Despite continued investment to research and development, KRIZIK’s products were gradually pushed out of the market by cheaper substitutes from China.

One of the prerequisites of DRS to begin the turnaround and restructuring process was significant change to the management and shareholders of KRIZIK. Once that happened, DRS filed a petition in court for creditors protection, which was granted. After long and difficult negotiations with creditors (and a bit of good fortune), KRIZIK’s pre-restructuring liabilities of 1,5 mil. EUR were reduced just to 51k EUR, giving the company debt reduction of 97% and a new life. During the formal restructuring process some significant turnaround actions were deployed, involving scaling down through space and employment reductions, refocus of manufacturing from electricity meters to production of metal parts and goods with the use of CNC machines, with a big orientation on auto-moto industry in Slovakia and Germany. Third phase of the engagement involved sale of part of the KRIZIK’s business to one of the customers.

Prešov, Slovakia


Restructuring & Turnaround

About Us

DRS is the advisory firm specializing in two core areas; corporate restructuring and turnaround solutions, as well as business growth strategies and implementation.


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