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Digital transformation: Resilience as a new key resource

Survival under permanent pressure to change

In an ever more dynamic environment, the rules of classic corporate management are changing: classic planning is losing its foundation in the face of shorter planning horizons and the one-sided focus on process optimization along fixed development paths is changing from a recipe for success to a risk factor.

In contrast, the ability to react to unforeseen events and to shape permanent change becomes a new key resource. Under the term "resilience", this ability is often invoked, but rarely operationalized.

In their article, published in the Zeitschrift für Corporate Governance CGI 01.2019, comes employees Dr. Bernhard Becker and Jan Schoenmakers together with Silvia Braumandl put forward a proposal for such an operationalization for discussion on the basis of a systems theoretical model and apply it to the entrepreneurial context. The growing importance of intrapersonal resilience – to be understood as the resilience of the individual employee – is also discussed.

Please klick here for the full article.

Resilienz

comes congratulates Tribodyn AG on the Innovation Award

comes supports the acquisition of financing for new construction and corporate growth

Tribodyn AG in Northeim develops and produces the highly innovative, environmentally friendly leaf and soil fertilizer Lithovit. Using a special process, Lithovit is finely ground and thus tribodynamically activated. Lithovit increases the growth and stress resilience of the plants and is also suitable as a seed dressing. The products are 100% organic and certified according to Demeter and Naturland. For these achievements, Tribodyn AG was awarded the Innovation Prize 2018 of the District of Göttingen as well as the Entrepreneur Prize for Southern Lower Saxony 2018 of the Federal Association of Medium-Sized Businesses (BVMW).

After successfully entering the market, the still young company is already active in 100 countries and is pursuing ambitious growth plans. In 2018, a new company building with ultra-modern production and logistics facilities was erected in Northeim in order to unite all work steps under one roof in the future.

comes has supported Tribodyn AG with the acquisition and securing of equity and debt financing for investments in the new plant and further expansion.

Tribodyn
Tribodyn

comes accompanies three of the top 25 insolvency proceedings 2018 in Germany

In the past year, comes' team of advisors has again supported the companies and their lawyers in various standard insolvency and self-management proceedings. JUVE-Verlag has compiled a list of the largest insolvency proceedings for 2018. Of the 25 largest insolvencies, comes accompanied three, i.e. about one in eight:

  • Max Moritz
  • Unimet Group
  • Car dealership Willy Tiedtke

In addition to liquidity planning in proceedings and comparative calculations for the insolvency plan, comes develops restructuring concepts and carries out M&A processes.

Please find further references to our self-management and standard insolvency proceedings here.

The JUVE list of the top 50 insolvencies can be found in issue 01/19 of the journal JUVE Rechtsmarkt.

Top 50 insolvency proceedings 2018

comes is growing

Cord Körner

Cord Körner

The consultant, who is well versed in financing and restructuring issues, has been a member of our "Overcoming the Crisis" team since August 2018. At the Hamburg and Hanover offices, Mr. Körner supports our clients primarily in the areas of restructuring, distressed M&A and insolvency support.

Prior to working for comes, he advised medium-sized clients of various sizes and sectors at a major international bank and a big-four auditing and consulting firm.

Hendrik Leigers

Hendrik Leigers

After Mr. Leigers had already supported us during his university studies of Banking & Finance as an analyst/working student, he has now been working as a consultant in the Oldenburg team in the areas of distressed M&A and financing since December. He is also involved in digitisation issues with our joint venture partner Hase & Igel.

Prior to his studies, Mr. Leigers worked as a banker.

René Labahn

René Labahn

Since the beginning of this year, Mr. Labahn has been supporting our clients' operational turnaround at the Hamburg location, from invoice receipt to bank communication and strategy orientation. As a specialist for digital corporate management (consolidated financial statements, group planning and reporting), he is responsible for the expansion of the software-supported business area.

In previous positions, he worked as a manager in a consultancy and as a manager in controlling for a mechanical engineering group.

We would also like to take this opportunity to congratulate our colleague Jan Handzlik on his doctorate in economics and social sciences!

Allco Heimtierbedarf closes with a total quota of over 75%.

Allco Heimtierbedarf from Thedinghausen was able to pay out a total quota of 78.5 % to the simple insolvency creditors after the plan monitoring following the self-administration procedure.

At the end of 2016, the company had filed a petition for the opening of insolvency proceedings under its own administration and was able to win over the Czech pet food manufacturer VAFO Holding as an investor.

Allco was accompanied by a team of anchor lawyers led by Silvio Höfer and Florian Harig in its own administration and in drawing up the insolvency plan. Dr. Malte Köster, a specialist in insolvency law from the WILLMERKÖSTER law firm, was appointed as trustee. comes supported the investor process.

Allco Heimtierbedarf

Successful comes M&A process for wind sportswear

Friedrich von Kaltenborn-Stachau (BRL Boege Rohde Luebbehuesen), as insolvency administrator of wind sportswear gmbh from Jesteburg, successfully sold the business operations to wind gmbh from Hamburg as of 01.01.2019. A large part of the jobs can be preserved.

The producer, wholesaler and retailer wind sportswear has been selling maritime fashion and accessories for almost 40 years. A strengthening of the brand in the North and Baltic Sea Coast region is planned for the future.

comes accompanied the takeover process on behalf of the insolvency administrator Friedrich von Kaltenborn-Stachau.

The detailed press release of BRL can be found here.

wind sportswear gmbh

Transition: Digitization hits the wholesale trade – twice

The traditional business model of the wholesale sector is under considerable pressure in the face of digitalisation on two fronts at once:

On the one hand, on the market side, competition is increasing from new and established players who, after B2C business, are increasingly penetrating B2B business, as well as manufacturers seeking direct end customer contact. In addition, price transparency has increased significantly – also through online comparison platforms – which has further intensified pressure on margins. On the other hand, on the process side, many wholesalers have an investment backlog in their IT infrastructure along the value chain (purchasing, warehousing, order picking, sales). The result is an inadequate basis for decision-making for buyers and sellers and risks from warehousing (high inventories, old stocks). This also makes it more difficult to integrate e-commerce solutions for online sales.

These developments manifested themselves in numerous insolvencies of well-known wholesale companies in recent months (e.g. Testrut, Unimet, creatrade) in which we advised insolvency administrators.

Großhandel unter Druck

Challenge digitization: IT risks in status reports

In its position paper on digitization, the Institut der Wirtschaftsprüfer (IDW) recently stated that many companies (still) lack the experience to transfer the changes associated with the digital transformation to their business models. In addition to technological risks, legal competences must also be focused on and possibly newly acquired in order to better assess the associated risks.

As announced in advance, Dr. Bernhard Becker of comes together with Michael Dilßner and Prof. Dr. Stefan Müller of the Helmut-Schmidt-Universität Hamburg examined the annual financial statements of medium-sized companies in order to find out how the opportunities and risks of digitization are listed. From the perspective of the accounting recipients, the results confirm that in many cases digitization has not yet arrived as a central challenge in corporate management.

The results of the analysis have been published in KSI 06.2018 and can be read in full here.

IT-Risiken in der Lageberichterstattung