Michael Buenzow is the Vice Chairman of Restructuring and Company-Side Practice Leader of the Turnaround & Restructuring practice. Mr. Buenzow specializes in advising corporations, creditors, equity owners and directors of underperforming companies. He has more than 20 years of experience serving as a financial advisor, including extensive international and public company experience. Mr. Buenzow has industry expertise in many areas including retail, consumer and industrial products, steel, automotive, construction, apparel, entertainment and leisure, transportation, real estate and distribution.
Mr. Buenzow has extensive operational turnaround experience and has a strong background in manufacturing, retail, consumer products, sourcing; brand management; labor relations working capital management and product licensing agreements. He also has extensive interim management and operational experience. He has served as interim chief executive officer for various clients, including WCI Steel, a $900 million integrated steel producer; Bush Industries, a $350 million furniture manufacturer; Huffy Bicycle Corporation, the largest bicycle company in the United States; ColorWorks, a parts supplier to Toyota and Lexus; and Tommy Armour Golf Company.
Mr. Buenzow has extensive restructuring and business reorganization experience. Engagements are often very complex and challenging cases that are hotly contested by multiple creditor classes. Recent engagements include serving as restructuring advisor to Dynegy Holdings, which was one of the largest Chapter 11 cases in recent history. In addition, he has served as chief restructuring officer for numerous clients, including New Stream Capital, a $900 million hedge fund; Hartmarx Corporation; Hickey Freeman; Wickes Furniture and Heating Oil Partners. Other engagements include WCI Communities, Cadence Automotive, Bridge Information Systems, Kmart, GDX Automotive, Petters Worldwide, Federal-Mogul, Weirton Steel, Durango Georgia Paper, WCI Steel, Dade Behring, Borden, Raytheon, Grand Union Supermarkets, Jitney Jungle Supermarkets, Footstar, Foot Locker and Trans World Airlines. Restructuring assignments often include active participation by some of the largest and most significant players in the distress industry.
Mr. Buenzow’s reorganization experience includes negotiation of out-of-court restructuring plans, bankruptcy planning, debtor-in-possession financing, cash flow forecasting, cash management, business plan development, identification and implementation of significant cost reductions, section 363 asset sales, business valuation, negotiation of labor agreements, claims management, preparation and negotiation of plan of reorganization and disclosure statements, and testimony in bankruptcy court.
Prior to joining FTI Consulting, Mr. Buenzow was a Partner in the Business Recovery Services practice of PricewaterhouseCoopers.
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Chicago, IL, 60606
Creditor Rights, Relations & Negotiations
Mergers & Acquisitions Advisory
Restructuring / Turnaround Services