Rescuing Schlecker: The fall of an empire and ways to turn the company around
This is the story of the fall of Anton Schlecker’s empire of seven thousand shops with thirty thousand employees, but I would not write this article if I did not believe that Schlecker’s empire could be rescued. There is no question about the urgency of a rescue plan: currently, Schlecker loses about €20 million every month, so deep cuts will have to be made, as it is too late to adopt a strategy that simply avoids further declines in profits or market share. It is also too late for heavy investments and higher credit lines. It is time to determine what went wrong, what can be rescued, and what makes economic sense.
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About TMS
The Turnaround Management Society is a Society found to develop and promote the International Turnaround Management Standard (ITMS), provide advice on Turnaround Management. Its members are dedicated to excellence in the field of crisis management and turnaround management they are bound to a code of ethics that unites them and ensures that its clients can trust the Turnaround Management Team. We furthermore provide our members with continuing education and certifications.
The International Turnaround Management Standard (ITMS)
The International Turnaround Management Standard(TM) is still getting tested and evaluated by industry professionals and academics. If you want to participate in the development of the ITMS, please sign up for our community and in there for the group: "Turnaround Ideas in order to engange in discussions and to stay up to date with the latest developments regarding the ITMS."
Feartured Article
The Turnaround Management Society has been asked by many firms to create a database of consulting firms that are active ...
What is the ITMS? The Turnaround Management Society (TMS) has finished it's most ambitious project to develop a standard for turnaround management ...
Humpty Dumpty sat on a wall Humpty Dumpty had a great fall All the king's horses and All the king's men Couldn't put ...
Company Voluntary Arrangements (CVAs) were introduced to be a flexible business rescue procedure. They are meant to provide a flexible ...
Introduction The most common reason cited for the failure of a change management effort is resistance. That's a cop out. There is ...
All business turnaround situations are different, however, there are one element that always have to be on top of the ...
Keeping American Airlines up in the air
- An appeal to learn from past crisis, competitors and the best After the attacks of September 11, 2001, airlines got into serious trouble and were forced to cut costs and routes all over the world quickly. Some airlines in the US that did not have enough financial resources went into Chapter 11 protection in [...]
The International Turnaround Management Standard (ITMS)
The Turnaround Management Society (TMS) has finished it’s most ambitious project to develop a standard for turnaround management practitioners. The project was set for three years and lead by Christoph Lymbersky director and lead project manager of the Turnaround Management Society.
Turnarounds are a very common situation that statically 30% of the listed companies on the NYSE run into within ten years. The research led by Christoph Lymbersky of turnaround cases suggests that a lot turnarounds are done in house by the companies themselves, few have professional turnaround help.
Crisis Management Ain’t Fun! (The BP Fiasco)
In business, crisis management is practically unavoidable. Mistakes will be made. Accidents will happen. Products will be flawed. Acts of God will continue. Since you can’t avoid crises, you’d better prepare for their inevitable eventuality, and: act promptly, intelligently, decisively, strategically, politically, sensitively, honestly, and with a genuine effort to resolve the issue and prevent [...]
1on1 Online Training Class in Turnaround Management
We are proud to introduce the first online class in Turnaround Management. The class is designed to prepare the participants for the Certified International Turnaround Manager (CITM) qualification. The online class will be held on a personal 1 on 1 basis over the internet and can be taken from virtually anywhere in the world. This [...]
