Case ID: KEL356     Solution ID: 29850

Parmalat USA Turnaround Case Solution

Abstract

Senior administrators in Parmalat SpA's U.S. auxiliary (Parmalat USA)- huge numbers of whom were from the Italian guardian organization or other Parmalat elements removed, wiped out their workplaces, and left as the guardian's greatness organization's extortion got to be known in late 2003. Parmalat USA had petitioned for insolvency in October 2003. With direness and urgency, Enrico Bondi, the Extraordinary Commissioner of Parmalat SpA, had reached the Milan office of AlixPartners, a worldwide rebuilding, counseling, and monetary admonitory firm. Bondi asked for AlixPartners' help with deciding the money circumstance at the U.S. backup and helping lead the battling division, which was presently bereft of senior administration. Jim Mesterharm, an overseeing executive in AlixPartners' Chicago office, was requested that lead this activity as the boss rebuilding officer. Parmalat SpA, regularly alluded to as the Enron of Italy, was a trophy turnaround task at the start for AlixPartners


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