Ted Stenger's expertise is developing solutions in complex corporate restructurings and reorganizations for troubled companies. He has served as advisor to senior management and boards of directors, guiding them through workout negotiations and developing comprehensive turnaround strategies, including organizational change, capacity rationalization and divestitures. He provides interim management to companies requiring experience in defining and implementing turnaround programs.
Ted most recently served as Chief Restructuring Officer at Fleming Companies, Inc., a leading supplier of consumer packaged goods. Prior to that he served as Treasurer at Kmart Corporation, a $37 billion discount retailer. Other assignments have included serving as restructuring advisor to Allied Holdings, Inc. a $1 billion plus automotive transportation and logistics provider, financial advisor to Fruit of the Loom, a $2 billion international basic apparel company, restructuring advisor at FINOVA Group Inc., a $13 billion commercial financial services company; and interim COO of American Rice Inc., one of the world's leading processors and marketers of branded rice products with $300 million in revenue. He also served as interim CEO for Maidenform Worldwide, the largest privately held intimate apparel company in the United States. At Maidenform, Ted led the company through a remarkable turnaround - going from an out-of-cash situation to an expected $47 million improvement in operating income.
Prior to Maidenform, Ted was engaged to provide management and consulting services to the senior management of Leslie Fay Cos., a women's apparel manufacturer and retailer with annual sales in excess of $500 million. His successful efforts achieved $10 million in cost reductions, increasing net gross margins by 40 percent, and streamlining general and administrative functions and increasing cash flow through aggressive inventory management.
In the formal reorganization process, Ted has represented Chapter 11 debtors as well as creditors' committees and equity holders. He provides expert testimony on matters related to lost profits, solvency and fraudulent conveyances. He has presented professional papers and published articles about restructuring and the financial and accounting aspects of successful reorganizations. He is a co-author of the Financial Handbook for Bankruptcy Professionals, second edition, West Publishing Co. (1996).
Prior to joining AlixPartners, Ted was in the Corporate Finance Group of Ernst & Young. He is a Certified Insolvency and Restructuring Accountant and is a CPA. He earned a Bachelor's degree in business administration from the University of Notre Dame.