The Company operates in two divisions. The first division buys and sells machines used in the turf industry. The other division produces and sells machines that used for maintaining green areas. During the COVID-pandemic, the Company experienced a rapid development of its operations. Driven by these developments, the Company invested considerable funds in R&D and a new warehouse, amongst other things. However, the growth of its operations turned out to be a temporary increase. After the COVID-pandemic, operations started to decrease to pre-COVID levels. Because the Company’s cash was now stuck in its investment projects, the Company soon found itself having liquidity shortages.
Beaufort has drawn up an Independent Business Review in which the operations of both divisions were analysed. A restructuring plan has been drawn up together with the directors of the Company. This restructuring plan is currently being implemented.
