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Argentina means "silvery land"

Agribusiness

Type of assignment: Investigation, restructuring and receivership

Region: Southern Africa
RSM firm:
RSM contact:

Company Circumstances

The company had a turnover of US$23m, and was one of the largest employers in Zambia, exporting agricultural produce by airfreight to UK and European retailers.

Scope of the assignment

We engaged in a cash management and restructuring for a consortium of international banks, involving the appraisal of the working capital position and business viability.

Outcome

The initial review undertaken uncovered a significant fraud, such that restructuring the business proved unpalatable for stakeholders. RSM were appointed as receivers and the insolvency was used as a vehicle to effect a reconstruction. Through the services provided by RSM the business continued, thereby preserving employment. This was further reinforced by the international marketing campaign carried out and the utilisation of a multi-national RSM team.