Restructuring a Company in Bulgaria
Restructuring a Company in BulgariaUpdated on Wednesday 16th August 2017
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Investors may need to consider restructuring a company in Bulgaria for a number of reasons: changing ownership, optimizing their operations or cutting costs.
Regardless of the reasons behind the restructuring, this phase can be handled with the help of a law firm in Bulgaria.
Business restructuring in Bulgaria
Internal company restructuring is one of the most common forms of business restructuring in Bulgaria. All types of companies employ this method when the need for optimization or cost reduction becomes necessary. When company owners in Bulgaria restructure their personnel, good knowledge and understanding of the Employment Law is needed. For this purpose, you can talk to one of our attorneys in Bulgaria.
Another company restructuring option is economic restructuring. This includes an effort to increase the company’s overall productivity and quality of production, as well as implementing more efficient methods. Company owners in Bulgaria can choose to retrain their employees or invest in new machinery.
Bankruptcy is also considered a type of restructuring, although it is used less often in Bulgaria. Small and medium sized companies may choose this manner of closing down a business, however, the process is a lengthy one. One of our lawyers in Bulgaria can answer your questions about bankruptcy and how the debtor company can continue its activities during this time.
Issues to consider when restructuring a Bulgarian company
The type or types of needed restructuring are important when establishing an overall strategy for improvement. Companies may need to restructure in just one area of business or they may need to address several issues.
When the organizational and managerial restructuring are taken into consideration, company owners need to observe the Companies Law and the internal provisions for changing the company managers.
One other type of expansion is the business expansion. This is different from those described above in that it focuses on expanding the business rather than cutting costs. Mergers and acquisitions are included in this category.
You can contact our law firm in Bulgaria if you need specialized legal assistance for commencing either one of the possible company restructuring strategies.