Sanitation saved the Yamo

The computer company YAMO will survive through restructuring. The arrangement was supported by almost all creditors.

When, at the end of last year, we asked representatives of companies involved in the restructuring of companies about successful repairs, they found it difficult to give even one obvious example. Such a case was just boasted by PMR Restructuring, which was the manager in the sanitation of Yamo, a company distributing computer hardware and software.

Yamo has been operating on the Polish market for 25 years. The company started with little of its own and a lot of enthusiasm. At first it sold computer hardware, then it changed its profile to distribution. It was successful. Its annual turnover reached EUR 30 million. However, the crisis in the computer industry caused it to fall into the financial difficulties. The debt amounted to several million PLN. The company decided to take advantage of the survival opportunity offered by restructuring law. In September 2016, the commercial division of the District Court for Wrocław-Fabryczna opened Yamo's sanitation proceedings. The PMR Restructuring law firm became the administrator. The inventory of receivables was approved in September 2017 and the vote on the arrangement took place at the end of 2018. The process thus took less than three years. The arrangement approved at the creditors' meeting at the end of 2018. The District Court for Wrocław-Fabryczna approved it in June. However, we do not know its details. What is known, however, is that the proposals it contains are closely linked to the company's performance. It ensures that creditors are paid the repayments due to them depending on the level of turnover and revenue the company will be able to achieve.

It is worth mentioning that in the final vote, in which the consent of creditors representing two-thirds of the total claims is required, almost all of them voted in favour of the arrangement (100 per cent of the creditors in Groups I and IV, 87.33 per cent in Group II and 96.34 per cent in Group III).

Jacek Monko, CEO of Yamo, has no regrets about his decision three years ago to fix the company.

The material appeared in the newspaper Puls Biznesu:10 July 2019:" Sanitation saved Yamo