FTI Consulting has appointed Peter Dumas as a managing director in the lender services practice within the firm’s corporate finance and restructuring segment. In this role, he will focus on asset-based lending engagements, primarily in the syndicated bank loan market.
BowFlex initiated a Chapter 11 bankruptcy proceeding in the U.S. Bankruptcy Court for the District of New Jersey. As part of the filing, BowFlex secured a $25 million facility for debtor-in-possession financing from SLR Credit Solutions.
FTI Consulting reported revenue of $3.489 billion for 2023, marking a 15.2% increased compared with revenue of $3.029 billion in 2022. The company’s also reported a 19.7% year-over-year increase in revenue for its corporate finance and restructuring segment in Q4/23.
FTI Consulting’s 2024 Leveraged Loan Market Survey found that cautious optimism prevails among lenders after a challenging year, with 45% of respondents believing that the probability of a U.S. recession is minor compared to last year when only 29% had such a view.
FTI Consulting expanded its global aviation practice with the appointment of Frank Martin as a senior managing director within the firm’s corporate finance and restructuring segment.
Radio content company Audacy entered into a restructuring support agreement to reduce funded debt by $1.6 billion. In connection with the restructuring, Audacy filed for Chapter 11 bankruptcy and secured commitments from its existing lenders for $57 million in debtor-in-possession financing.
FTI Consulting expanded its energy and industrials business transformation practice with the appointments of Satish Damodaran and Alejandro Vanags as senior managing directors within the firm’s corporate finance and restructuring segment.
FTI Consulting launched FTI Delta, a global, industry-specialized strategy consulting practice that delivers strategy definition, execution, etc. to clients. FTI Delta will focus on the public sector and the telecommunications, media and technology industries.
FTI Consulting appointed Cynthia Romano and Chris Creger to senior managing director roles in the turnaround and restructuring practice within the firm’s corporate finance and restructuring segment.
FTI Consulting appointed Ralph Geertsema senior managing director and co-leader of the firm’s office of the CFO Solutions practice for Europe, the Middle East and Africa alongside senior managing director Christopher Ruell.