Salvatore LoBiondo, Jr.
Senior Managing Director

Turnaround & Restructuring Advisory; Interim Management; CIRA

Salvatore LoBiondo, Jr., is a Senior Managing Director at Ankura with more than 30 years of general business experience, including 20 years working with troubled companies. He is based in Parsippany.

  • Experience

    Salvatore enjoys a national reputation as a restructuring expert and crisis manager. Prior to his position as a senior managing director at Marotta Gund Budd & Dzera, LLC, which was acquired by Ankura in 2016, he held the position of managing director at Zolfo Cooper, LLC. His assignments have included advisory roles, interim management roles, and international assignments, including work in Europe and Latin America. Working for both debtors and creditors, Salvatore has led complex reorganizations and restructurings, with experience across diverse industries such as telecommunications, electronics, manufacturing, retail, distribution, quick-service restaurants, and airlines.

    Salvatore’s professional experience includes:

    • Advisor to an international military and auto logistics company.
    • Special financial advisor to Inner City Media Corporation, an operator of 17 radio stations, in its Chapter 11 proceedings.
    • Advisor to Global Safety Textile Holdings, a second-tier automotive supplier, in its Chapter 11 proceeding.
    • Advisor to Fortunoff’s, a regional department store chain, in its Chapter 11 proceedings.
    • Advisor to Friedman’s Jewelers in its financial restructuring and Chapter 11 cases.
    • Advisor to a leading energy transportation and storage enterprise in its financial restructuring.
    • Advisor to The IT Group, a $1.3 billion environmental engineering company, in its Chapter 11 proceedings.
    • Advisor to a large energy producer and utility company in its restructuring.
    • Advisor to Twin County Grocers in its Chapter 11 proceedings.
    • Advisor to MGM Grand Hotel and Casino in a cost rationalization program.
    • Advisor to Trans World Entertainment in its financial restructuring.
      Salvatore has held interim management positions, including:
    • Senior vice president corporate controller of Sun Edison Inc.
    • Responsible officer of LeNature’s where he uncovered a $750 million fraud.
    • Chief executive officer of Friedman’s Jewelers.
    • Interim controller of MicroWarehouse, Inc.
    • Interim General Manager of MicroWarehouse, B.V.
      Salvatore has also advised secured lenders and bond holders in a variety of matters, including:
    • Advisor to the secured lenders of an international printer and direct mailing company.
    • Advisor to the secured lenders of a national equipment rental company.
    • Advisor to the secured lender to a number of Burger King franchisees.
    • Advisor to an ad hoc committee of bondholders of Calpine Canada Energy Finance.
    • Advisor to an ad hoc committee of bondholders of Washington Mutual.
    • Advisor to the official committee for the unsecured creditors of Mirant Americas Generation, key stakeholders in the Mirant Corporation bankruptcy proceeding.
    • Advisor to the equity committee of the Adelphia Communications bankruptcy case.
    • Advisor to an ad hoc committee of bondholders of MCI/WorldCom.
    • Advisor to an international telecommunications manufacturer in restructuring its large customer receivables and notes out of court, both in the US and South America.
    • Represented secured creditors in the Figgie International, Fredericks of Hollywood, and Winstar Communications cases.

     

  • Honors & awards

    2006 Turnaround Management Association’s Large Company Turnaround Award

  • News & events