BDO Consulting said it is forming a corporate advisory practice to provide strategic and financial consulting services to companies in distress.
The consulting arm of accounting firm BDO Seidman said its new practice would offer services such as interim management, strategic and operational improvement, financial advisory and chief restructuring officer work. BDO Consulting's national director of business-restructuring services, Bill Lenhart, 52, will lead the practice, which will be known as BDO Consulting Corporate Advisors LLC.
"BDO Consulting Corporate Advisors LLC will complement the solid track record the Business Restructuring Services practice has built over the years providing financial advisory, strategy, debt restructuring and forensic and litigation support to distressed companies, trustees, secured creditors and unsecured creditors," he said in a statement.
Tony Wolf and Bob Starzyk will be the managing directors in charge of the practice. Wolf, 54, comes from Glass & Associates, where he served as a principal. Starzyk, 62, was a principal at Morris Anderson & Associates.
Other services to be provided by the corporate advisory practice include change management, board advisory, business plan validation, strategic repositioning, visibility assessment, profit and cash flow improvement, stakeholder negotiations, refinancing and equity capital procurement, and post-restructuring due diligence.
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