Potential threats and their consequences are different for each company. Whether it is disruptions in the supply chain, in production due to increased cases of infection among employees, or problems with customers, all disruptions carry the risk of failing to achieve the planned economic goals for the current fiscal year. Chain reactions or a combination of different problems are also possible. These threats must be identified quickly and presented in scenarios.

Possible solutions for the crisis scenarios identified in individual cases are, for example, the pre-production of goods in stock, extra shifts, logistics solutions etc. It is important to try to identify the problem areas in each individual case quickly and above all, to be honest with oneself and to tackle the problem areas identified one-by-one.

Very important: The solutions found for crisis management usually exceed the originally planned financial budgets/resources. It is of paramount importance that this requirement is covered in the short term in order to secure the immediate future of the company. In this respect, it is advisable to keep yourself informed about the current federal and state funding opportunities in close cooperation with restructuring experts. In this way, alternative financing instruments can be used to find individual financial solutions for overcoming the crisis that go beyond classic bank financing. The above-mentioned support programmes for at-risk companies and the legislator’s economic stimulus programmes in particular must be taken into account here.

In all these considerations, restructuring under insolvency protection should always be included. Also and even especially under the current circumstances! With the consistent use of this option, the company and thus the own economic existence, jobs and also the money of the creditors can be saved. In a debtor-in-possession proceeding the directors of the company remain in full authority and are only monitored by a custodian. The fact that (at least in the first three months) the wages and salaries are taken over 100% by the Federal Employment Agency, while at the same time the obligation to work continues to exist, social security contributions, wage tax and turnover tax are not incurred, bank loans are not repaid (at first) and unsecured supplier liabilities are not paid, gives the company a realistic chance and the necessary leeway to address identified problem areas and thus to overcome the crisis.