Matthew Covington

Biography

Matt Covington is a Managing Director with Alvarez & Marsal in Los Angeles, providing a full range of financial advisory, turnaround consulting and interim management services in restructurings and other special situations, both in court and outside of bankruptcy.Mr. Covington has more than 14 years of experience advising debtor and creditor clients, as well as financial sponsors, across a wide variety of industries, including aerospace / defense, energy, food processing, forest products, government, grocery, manufacturing, real estate, retail and staffing.Mr. Covington has led all aspects of the restructuring process, including negotiating with lenders and other creditor constituencies, developing cash flow forecasts and liquidity assessments, preparing and reviewing business plans, identifying capital structure alternatives, and developing restructuring and reorganization strategies.Significant non-confidential engagements include advising on the restructurings of Natrol, the State Fish Company, Powerwave Technologies, Classic Party Rentals, Select Staffing, Meruelo Maddux Properties, Andronico’s Community Markets, Pierre Foods, The Pacific Lumber Company and Calpine. Mr. Covington also has experience working with municipal restructurings, including the City of Stockton and the Commonwealth of Puerto Rico.Prior to joining A&M, Mr. Covington was a Managing Director with Conway MacKenzie in Los Angeles. There he was responsible for sourcing and executing restructuring engagements in the Western U.S. Previously, he was a Managing Director at Kibel Green and a Senior Vice President at Chanin Capital Partners / Duff & Phelps, where he executed a range of restructuring transactions both in bankruptcy and out of court. Mr. Covington began his career in the Mergers and Acquisitions Group at Credit Suisse First Boston in New York. Mr. Covington earned a bachelor’s degree from the University of California at Berkeley and a J.D. and MBA from the University of Chicago. He is a Certified Insolvency and Restructuring Advisor (CIRA) and a Certified Turnaround Professional (CTP), and is a member of the Association of Insolvency and Restructuring Advisors and the American Bankruptcy Institute. He is also the current President of the Los Angeles Chapter of the Turnaround Management Association. Mr. Covington was a contributor to Stephen Moyer’s book, Distressed Debt Analysis, has been a guest lecturer on restructuring topics at Pepperdine’s Graziadio School of Business and is a frequent panelist at industry conferences.

Research Interest

Matt Covington has extensive experience advising Tier 2 and 3 A&D suppliers and he worked on several food and food processing restructurings..He is a  frequent advisor to PE firms regarding portfolio companies and distressed transactions Advised on the City of Stockton bankruptcy and the Commonwealth of Puerto Rico restructuring