2023 was a year of crisis for the transport industry. The economic cooling has caused companies to make losses ❗a number of companies have had to resort to restructuring proceedings to stay afloat
2024 shows many changes both legal and financial for the transport industry. How will they cope. With these changes small companies, of which there are many in the industry
Rok 2023 turned out to be for many transport companies a difficult year, a year "under the barrel" and, for many, even bankruptcy. According to the Central Economic Information Centre, in the first half of 2023 208 companies declared bankruptcy, including seven from the road freight transport sector – the same number as in the whole of 2022.
Statistics show, That the scale of bankruptcy and restructuring in 2023 was enormous.
Is 2024 the end of this trend? In our opinion, unfortunately not. Transport industry is still trapped and awaits help. Restructuring proceedings are a response to the expectations of entrepreneurs, but not always and not for everyone.
In order to obtain the desired effect, you need to prepare yourself accordingly. restructuring. Architecture development actions are the beginning of the path for us - the path to success.
The troubles in the transport industry are due to various factors:
- Increase in fuel costs: Fluctuations fuel prices significantly affect the operating costs of companies transport.
- Environmental pollution: Increasing environmental requirements lead to the need to invest in greener technologies, which generates additional costs.
- Infrastructure: The condition of infrastructure, including roads and bridges, affects the efficiency and operating costs of transport
- Technological changes: The introduction of new technologies, such as autonomous or electric vehicles, requires significant investment and adaptation.
- Regulation: Strict regulations on safety, driver working hours or emission standards can impose additional burdens on the industry.
- Competition: High competition in transport industry leads to lower prices for services, which makes it difficult to maintain profitability.
- Safety issues: Road accidents and vehicle safety issues generate insurance costs.
- Economic cycles: Changes in the economy, such as recessions, affect the demand for transport services.
The diversity of these factors makes the transport industry is in a difficult situation situation and must respond flexibly to changing conditions, which is a challenge for many companies.
Some transport companies, due to low profitability, loss of liquidity, financial problems, did not make it. Wanting to protect Many companies are facing bankruptcy took advantage of simplified restructuring, i.e. the procedure for approval of the arrangement. Thanks to this, it was possible to work out arrangement proposals that were satisfactory for the parties.
Simplified restructuring, i.e. the process of making changes in the organization companies in order to improving its financial condition is helpful for transport companies, especially in a situation where we expect:
- Protection from creditors: Simplified restructuring provides protection from aggressive creditors, allowing the transport company to negotiate a settlement arrangement proposals in order to conclude an arrangement. This process aims to sort out the company's debts and return it to normal competition on the market.
- Restoration of liquidity: Through restructuring, changes can be made to increase the company's liquidity, which will improve the ability to settle liabilities.
- Negotiation of repayment terms: As part of the simplified restructuring, the company will develop proposals through a restructuring advisor arrangement, which will be beneficial for the company and satisfactory for creditors. The new terms of repayment of liabilities will allow for a return to normality and protect mutual business relations.
- Adjusting the cost structure: Restructuring allows for a review and adjustment of the cost structure, which will affect efficiency in resource management.
- Maintaining current operations: This process will help maintain current operations transport company, minimizing service disruptions.
However, it is worth noting that simplified restructuring it's a complicated process, which requires professional help from an experienced restructuring advisor. In addition, the effectiveness of restructuring also depends on choosing the right architecture restructuring and communication and cooperation with stakeholders, including creditors.
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