Cree (B)

After having been spun out of the family business, CREE’s progress had been disappointing, to say the least. Despite the fact that two towers had been built using CREE’s innovative approach, and to considerable acclaim, it was proving difficult to sell additional projects. The result was that CREE had run out of cash yet again. Hubert Rhomberg’s father Walter-Heinz – the major shareholder of Rhomberg Group – had just agreed to another €3 million for CREE, but he’d made it crystal clear that there would be no more funding from Rhomberg thereafter. Hubert wondered what to do next.