The owner sells a Czech agency for the employment of drivers of international cargo transportation in Europe that has a valid license for this type of activity.
The license was issued by the Directorate General of the Czech Employment Office under the Ministry of Labour and Social Security of the Czech Republic on October 26, 2015 and is valid for another 2 years (then updated)
The agency specializes in the employment as its own employees of drivers of international road freight transportation from the Czech Republic, Poland, Eastern Europe and their further lease to employers from Germany and Austria.
In addition, the agency provides intermediary activities in employment in Germany and other EU countries.
Main commercial activity and business economics
The main commercial activity was carried out in such a way that drivers were employed directly in the agency, and then rented from the agency by employers from Germany and Austria. Under this scheme, the agency earned 70-80-EUR per day per employee or 2200-2400 EUR of gross profit from each employee.
The average monthly income was about 70.000, -EUR gross profit.
The agency had 5 regular customers-employers from Germany and Austria.
In mid-2016, two companies from Germany and one customer from Austria did not pay for the drivers provided by the agency. The international law firm, to which the agency appealed, on September 14, 2016 reported that two German companies – customers and 1 Austrian debtor were in bankruptcy. In total, the agency had unpaid claim rights in the amount of almost 2 million Czech crowns.
Unpaid claims on the part of debtors led to the emergence of the agency's debt to insurance companies, the tax authority and the German customs administration. Total amount to CZK 1,035,173.
Current economic situation
- Assets: CZK 1,994,598 (overdue claim rights β filed for bankruptcy proceedings in Germany and Austria)
- Liabilities: 1.035.173 CZK
Prospects of the agency's work
Due to the fact that the company being sold has a valid license for another 2 years, this agency may be very interesting to those investors who know how to secure orders from Germany and other EU countries.
It may also be interesting that since 2017 in the Czech Republic it is allowed to hire drivers from Ukraine.
Due to the fact that the company's commercial activities have an increased level of profitability, the company's current debt of just over 1 million kroons does not seem catastrophic at all. Moreover, with almost all creditors, you can sign a schedule for the repayment of current debt for a fairly long period.
Note: due to the fact that the legal address of the company is now in the owner's house, a prerequisite for the sale of the company is the transfer of the legal address to another place.
The format of the transaction and the activities of the enterprise after the change of ownership
The subject of the sale is 100% of the shares in a limited liability company (s.r.o.)
Currently, the owners of shares in the company are two citizens of the Czech Republic.
Price: 1000 Euro or by agreement of the parties.
The following options for the sale of the company may be considered:
- For 1000 Euros – the new owner, buying the company for the specified amount, will further repay the company's debts at the expense of internal reserves and in the process of reorganization of the company.
- The amount by agreement – from the amount received for the sale of shares in the company will be partially or fully repaid of the existing debts of the company and the company will pass to the new owners "net" without debts or with significantly less debt.
The top management of the company is ready to continue its work after the change of ownership, but the most optimal seller seems to be a change in the company's management after its acquisition by the new owner. In this case, the current management of the company is ready to assist the new management (if it is interested) for a transitional period under a separate agreement with the new owner.
The purity of the transaction, the absence of hidden financial and legal obligations is guaranteed by the personal responsibility of the owners, the process of gradual transfer of management in accordance with the agreement, legal mechanisms and norms provided for in the Czech Republic.
Our services for the rehabilitation and revitalization of Czech companies
Our company has extensive experience in the rehabilitation – rehabilitation of Czech companies that are in a state of incipient or already developed financial and economic crisis.
For buyers of Czech companies intended for reorganization, we offer a full range of services that will help with maximum efficiency to capitalize the assets of the purchased company, and on the most favorable terms, with a significant discount, to buy off the company's debts from its creditors.
After the reorganization of the company, we provide full support in its stabilization and strengthening of its position in the market.
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