- franchisee gastronomy
- approx. 260
- roughly EUR 15 million
As the largest German franchisee of Dunkin' Donuts, the shareholder operated a branch network of over 30 shops in Berlin and North Rhine-Westphalia with the two companies S&C International Deutschland GmbH and WILL Coffee GmbH. Due to imminent insolvency, the management of the companies, accompanied by Restrukturierungspartner, had filed for the opening of insolvency proceedings at the Charlottenburg District Court. Restrukturierungspartner were then commissioned to conduct a structured bidding process in order to find a suitable investor for the business operations.
Within the scope of regular insolvency proceedings, Restrukturierungspartner, in close cooperation with the insolvency administrator Dr. Christoph Schulte-Kaubrügger (White & Case), made use of the restructuring instruments provided for by the German Insolvency Code (Insolvenzordnung) in order to position the two companies for sustainable profitability and to secure jobs. At the same time, Restrukturierungspartner sought a buyer for the reorganised companies in a structured M&A process, so that the investment backlog could be removed and the stores modernised. In complex purchase contract negotiations, a signing with the largest Dunkin' Donuts franchisee from Saudi Arabia (Shahia Food) was achieved within four months. Restructuring was completed after a total of seven months. In order to gain the time necessary for purchase contract negotiations, Restrukturierungspartner had initiated liquidity-securing measures in advance so that business operations could continue simultaneously.
Following the implementation of restructuring measures, including the introduction of a controlled ordering system and sales controlling by Restrukturierungspartner, the investor met ongoing business operations with the desired branch network. Thus, investor Shahia Food was able to concentrate entirely on modernising the stores and increasing quality and customer satisfaction in order to secure the competitiveness of the locations in the long term. Maintaining the infrastructure of rental contracts a considerable amount of goodwill could be negotiated, thus achieving the best possible creditor satisfaction for the insolvency proceedings.
The Shahia Food Group has taken over all employees and store locations.