Michael Paykin specializes in advising clients in workout, turnaround and restructuring situations. Mr. Paykin has more than 10 years of experience providing financial advisory services to key stakeholders in a diverse range of scenarios. He has industry experience within the retail and consumer products, fitness and recreational sports, mining, automotive, manufacturing and chemicals sectors, among other areas.
Mr. Paykin has led workstreams for several comprehensive restructurings and reorganizations in both in-court and out-of-court settings. During these engagements, he has assisted both public and private clients with addressing and managing liquidity issues, cash flow forecasting and working capital management, assessing turnaround and restructuring proposals, implementing cost improvement and profit enhancement initiatives, and providing contingency preparation and bankruptcy administration services. He has also assisted with capital transactions, strategic alternative evaluations and divestitures of assets and business units.
A representative list of Mr. Paykin’s clients includes 24 Hour Fitness, Rhino Resource Partners, Foresight Energy, Cambrian Coal, Sizmek, Vari-Form Group, Claire’s, Peabody Energy, Quiksilver, Chassix, Tactical Holdings, Quantum Foods and AFA Foods.
Prior to joining FTI Consulting’s Turnaround & Restructuring practice, Mr. Paykin was a member of the firm’s Transaction Advisory Services practice for over three years. In this role, he assisted financial and strategic buyers, private equity investors, lending institutions, investment banks and operating companies in more than 30 transactions, ranging in size from $10 million to more than $1 billion. These services primarily related to performing financial due diligence and analyses of borrowers’ collateral in securitization and asset-based loan facilities. During his tenure in the Transaction Advisory Services practice, Mr. Paykin’s clients included Bank of America, JPMorgan Chase, Wells Fargo, Deutsche Bank, Royal Bank of Canada and Bank of Mitsubishi UFJ, among others.
Project awards where Mr. Paykin’s engagements have been recognized include Large Transaction of the Year award for Claire’s from the TMA’s Chicago/Midwest chapter in 2019. Peabody Energy was awarded the Restructuring Deal of the Year (over $10 billion) by M&A Advisor in 2018. Additionally, Chassix was awarded the Chapter 11 Reorganization of the Year (over $500 million) from M&A Advisor in 2015 and the Pre-Packaged Restructuring of the Year by the Global M&A Network in 2016.