The management deployed expertise of DRS in the area of corporate restructuring. Analysis showed that a combination of turnaround tasks and formal restructuring was the only option for TechNick to operate. As a result, DRS managed to reduce TechNick’s 1,9 mil. EUR of total liabilities by staggering 66%, that’s 1,2 mil. EUR of reduced debt; with the remaining 0,7 mil. EUR scheduled under the restructuring plan to be repaid over a period of 20 years. On top of that the business was scaled down and returned to solvency. Engagement of DRS with TechNick lasts since 2014 till date, with the core focus now being quicker but sustainable satisfaction of the 20-year long payment calendar towards the creditors.
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