The restructuring plan prepared by RZMK for Duka International has been approved by the Restructuring Court. This is another step on the road to rebuilding the company’s market position.

Since mid-November, Duka International SA, owner of the Duka brand, is in a sanitation process, with RZMK Restructuring acting as administrator. Our team was responsible for preparing the restructuring plan and helping to find an investor – we more than fulfilled both tasks. The restructuring plan was approved on May 17 of this year, and we were also able to find an investor, which provided a tranche of funds necessary for ongoing operations.

The restructuring plan is expected to open the company to further dynamic development – as part of it, we made the following recommendations, among others:

• diversification of sales channels – development of e-commerce channel and marketplaces,
• updating the assortment (product) strategy – including, among others, the significant introduction of Made in EU products or strengthening the table and kitchen offer (smart kitchen),
• optimizing the sales network – reducing the number of offline stores,
• optimization of storage and logistics costs,
• acquiring retail partners to ensure optimal stocking,
• debt reduction.

We are proud to present further results of the RZMK Restructuring team’s work in rebuilding the company’s market position. Now it’s time to implement the next stages of the strategy adopted for Duka International SA.

Check what support we offer for your business and learn more about our services.

In mid-November of last year, RZMK Restructuring was appointed as the administrator of Home Invest International SA, which owns the MILOO HOME brand. Our task was, among other things, to prepare a restructuring plan and help find an investor – a business partner. Thanks to the prompt action taken by our team, we immediately prepared a restructuring plan, which has just been approved by the Judge-Commissioner.

Home Invest International SA specializes in the retail sale of furniture and home&garden accessories. The company operates in the premium furniture and decoration segment, offering both its own products and those of third-party manufacturers. The strategy adopted by RZMK Restructuring, focusing on rebuilding the company’s profitability and financial stability, was based on a careful analysis of the company’s situation and its individual needs.

The pillars of the strategy adopted for the company include:

• business model transformation,
• operational modernization,
• optimization of the business model,
• diversification of revenue sources,
• minimization of risk through debt reduction and process optimization.

We are proud to present further results of the RZMK Restructuring team’s work in rebuilding the company’s market position. Now it’s time to implement the next stages of the strategy adopted for MILOO HOME.

Check out what kind of support we offer for your business and learn more about our services.

RZMK Restructuring has been approved by restructuring court as a new administrator for Fabryka Obrabiarek Rafamet SA.

Fabryka Obrabiarek Rafamet SA is a Polish manufacturer of special machine tools for machining railroad wheelsets, and is one of the leading companies in this industry operating on the global market. Located in Kuźnia Raciborska (Raciborski District), the company ran into trouble that threatened insolvency as late as Q2 2025.

For this reason, at the end of December the company filed a motion to open sanitation proceedings, which was approved by the court on March 7 this year. In early May, in turn, the company requested a change of its existing management to RZMK Restructuring, which the restructuring court approved just today.

– As RZMK Restructuring, we are ready to execute immediate measures to restore the company’s financial and business situation”, declares Marcin Kubiczek, CEO of RZMK Restructuring. – Despite specter of insolvency, I see real prospects for recovery, primarily thanks to the potential of the market at which it operates, as well as the attitude of the majority owner, he adds.

At the end of April, government aid to Rafamet, among others, was announced by Prime Minister Donald Tusk. According to the declaration, funds in the amount of PLN 700 million will go, through the Industrial Development Agency, to two Racibórz companies – Rafako and Rafamet. The company from Kuźnia Raciborska would receive PLN 80 million in the form of recapitalization (in four tranches), as well as an additional PLN 16 million in the form of a loan.

Rafamet’s new administrator approaches this information with cautious optimism. – For Rafamet, such support is business to be or not to be, so this is obviously positive news for the company. How these funds will be used, however, is another matter. From our side, as RZMK Restructuring, we will do our best to use it not only to achieve solvency and satisfying creditors, but even into developing the company and strengthening its market standing”, explains Marcin Kubiczek, CEO of RZMK Restructuring.

We are pleased to announce that, as part of the restructuring process of DUKA International, we have taken an important step as the administrator of the sanctioning mass – we have established an important cooperation with a renowned Polish brand – Krosno Glass S.A.

Glass products manufactured in one of the best glass factories in Poland are returning to DUKA stores after many months. Customers will once again be able to enjoy the exceptional quality of functional glassware – from glasses to decanters – for which Krosno is famous not only in Poland, but also abroad.

What’s more, Duka’s offer will be enriched with selected premium collections of the Krosno brand, which will soon be available both in stationary stores and online (www.duka.com). This is another step towards building the assortment based on proven European manufacturers.

Cooperation with Krosno is part of DUKA’s strategy of reconstruction and further development, based on quality, transparency and trust in European brands with traditions. So, we invite you to Duka stores and remind you that there is a shopping Sunday ahead, so you can shop all weekend.

One of our recent assignments was the issuance of two opinions for the purpose of confirming or denying the state of insolvency of an entrepreneur. We were commissioned by the management of a joint-stock company against which one of its creditors had filed for bankruptcy.

As part of our cooperation, we prepared a comprehensive expert opinion on the economic and financial situation of the company and examined the prospects for conducting core business. One of its creditors had filed for bankruptcy, and we were to verify (confirm or deny) the state of insolvency referred to in Article 11(1-2) of the Bankruptcy Law.

In the study, we presented an analysis of the company’s economic and financial situation, including:

• analysis of revenues, operating expenses and financial results,
• structure of assets and liabilities,
• the value of equity.

Our experts also presented selected elements of the facts in order to present the position of the creditor and the position of the debtor.

In the report, we also presented a methodology for examining the prerequisites for insolvency, particularly in the context of Article 11 of the Bankruptcy Law. With regard to the liquidity premise, we checked whether – and if so, when and to what extent permanently – the company under examination ceased to pay the bulk of its contracted liabilities.

Analyses carried out in this regard:

• analysis of the time structure (delays in repayment of liabilities) of unpaid monetary obligations,
• analysis of realized payments/repayments of incurred liabilities, broken down by month,
• Analysis of enforcement titles issued against the company under review and pending court cases,
• analysis of concluded loan agreements to confirm or deny creditworthiness and service of financial debts on their due dates,
• determination of the prospects for the continued operation of the company.
  

We analyzed the issue of potential insolvency also in terms of the asset premise. We presented a test for establishing/denying the company’s insolvency status based on data from the company’s books and financial statements. We also took into account the information provided by the board of directors, and due to the need to recognize the value of individual assets at market valuation – due to the correct methodology for examining the moment of materialization of the asset premise – we again carried out the test account referred to in Article 11(2) of the Bankruptcy Law, making appropriate adjustments to the accounting records.

In our conclusions, we indicated that neither the property nor liquidity premise of insolvency has materialized in the company under review. The entity has real prospects for conducting business and is paying its liabilities on an ongoing basis, and bankruptcy proceedings should be conducted against an insolvent entity.

Home Invest International has joined the ranks of RZMK Restructuring’s clients. As part of the cooperation, RZMK is responsible for preparing a restructuring plan and assisting in finding an investor-trading partner for Home Invest International S.A. It is the owner of, among others, the Miloo Home brand, specializing in the retail sale of furniture and interior and garden accessories. The company operates in the premium furniture and decoration segment, offering products both under its own brands and from renowned third-party manufacturers. It has been trading since 2009, conducting online and offline sales.

The restructuring plan we have prepared is primarily aimed at rebuilding profitability and financial stability over the assumed period. The pillars adopted in the strategy are:

• Business model transformation – development into an e-commerce player and expansion into marketplaces.
• Operational modernization and optimization of logistics.
• Optimization of the business model.
• Diversification of revenue sources through development of B2B (dropshipping) and premium sector.
• Risk minimization through debt reduction, logistics optimization and IT investments.

We have submitted the restructuring plan in accordance with the procedure, while we are currently waiting for the decision of the Commissioner Judge.

You can read more about our services on our website.

As RZMK Restructuring we act as an administrator in the ongoing sanitation process of Duka International,. Among other things, we are responsible for preparing a restructuring plan, as part of which we recommend such measures as diversifying sales channels, optimizing warehousing and logistics costs, reducing debt, as well as attracting an investor.

We are pleased to announce that yesterday an agreement was signed between Duka International and an entity that will provide the first tranche of funds, much needed by the company to finance its current operations. The money will be needed in particular to stock the stores in the sensitive pre-Christmas period.

It is common opinion that in the process of restructuring, it is hard to obtain funds and cash for day-to-day operations. Situations where additional funds for the operation of the company are raised in sanitation and restructuring proceedings are rare. Thanks to the efforts of the manager and the debtor, finances were raised by finding a liquidity backer who saw the growth potential of Duka International.

RZMK Restructuring has succeeded in winning security for our client Duka International in court. The Warsaw mall, which had revoked access to one of its showrooms, was forced to make the store available again.

In December 2024, one of the Duka’s showrooms located in the Warsaw mall was closed for allegedly late payment of rent and utilities. In our opinion, this action was carried out in violation of the restructuring law due to ongoing sanitation proceedings. Duka International has paid the rent due since the beginning of these proceedings, so there was no title to terminate the lease. We therefore took legal action to defend the company’s rights.

A few days ago, the court issued a protective order in which it shared our concerns and ordered the mall owner to restore the Duka’s showroom. According to the court’s verdict, he should make the premises accessible, remove the taping of the storefront, reinstall the advertising sign, and restore access to utilities. The court also forbade any obstruction or prevention of the company’s access to the showroom and common areas.

The trial will go on and the verdict will come later, but the injunction already issued, leads to believe that Duka International’s rationale will be upheld. According to the provisions of the Restructuring Law, a company in the process of sanitation is subject to special protection, and according to Article 256 of the Restructuring Law (Journal of Laws 2015, item 978), a lease agreement cannot be terminated against an entity subject to the sanitation process. This shows how comprehensively the interests of the restructured company can be secured, even by such non-standard methods. Even if the case involves a small subject, the sum of such smaller elements can make a big difference to a company that needs an extra push to act. That’s why at RZMK Restructuring we do everything we can to safeguard our clients’ interests in every area and down to the smallest detail.

DUKA International joined the team of RZMK Restructuring’s clients. RZMK’s role is to prepare a restructuring plan and help to find an investor for DUKA International SA. Duka is a brand with a history dating back to 1920, founded by Hjalmar Blomkvista in the Swedish city of Linköping. It offers a wide range of household goods and interior design elements, including kitchen accessories, porcelain, cutlery, tableware, as well as seasonal collections of textiles and decorations. Duka’s products are characterized by high quality and modern, Scandinavian design, combining aesthetics with functionality.

The restructuring plan is designed to open the company to further dynamic development – we have proposed, among others, the following recommendations:

• diversification of sales channels – development of e-commerce and marketplace channels ,
• updating the assortment (product) strategy – including including the significant introduction of Made in EU products and the strengthening of the table and kitchen offer (smart kitchen ),
• optimization of the sales network – reducing the number of offline stores,
• optimization of storage and logistics costs,
• acquiring business partners to ensure optimal stocking ,
• debt reduction.

Next week we will provide further information regarding the proceedings. You can read more about our services at our website.