David Shiffman

Senior Director
12+ years of experience, 9+ in restructuring and turnaround
Experience with in- and out-of-court proceedings
Expert in liquidity management, business plan development and operational improvement
New York
@alvarezmarsal
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David Shiffman is a Senior Director with Alvarez & Marsal Restructuring & Turnaround in New York. He brings nearly a decade of experience developing creative solutions for distressed companies, including formulating and executing strategic business plans, balance sheet restructuring, cash-flow forecasting, budgeting and working capital management.

Mr. Shiffman works primarily with underperforming companies across multiple industries and has been involved in all aspects of the restructuring process, in- and out-of-court. He is skilled in developing detailed cash flow and operating models, operational improvement analyses, refinancing and business plan projections in preparation for restructurings and change of control.

Most recently, Mr. Shiffman served as restructuring advisor to a $200 million and 130+ center laser vision correction surgery provider through operational turnaround during COVID-19 and successful debt restructuring via Chapter 11 363 sale. He provided financial advisory and interim management support for a $1 billion global radiation oncology and integrated cancer care provider during operational turnaround and Chapter 11 restructuring and served as financial advisor for a $1.4 billion academic health system through asset sale process and operational restructuring.

Mr. Shiffman provided financial advice and interim management support for a faith-based, 11-facility $160+ million continuing care retirement community (CCRC) in Texas during its Chapter 11 process and interim management support for a skilled nursing operator managing 84 facilities in the Midwest. He has also performed financial and operational assessments for health care operators, primarily across the senior living space (CCRC, skilled nursing, assisted living, rehab).

Prior to joining A&M, Mr. Shiffman was a Senior Auditor at Deloitte & Touche, LLP, performing annual audits and quarterly reviews of public SEC, private and non-profit companies in the healthcare, manufacturing and retail industries.

Mr. Shiffman earned bachelor's degrees in finance and accountancy from the University of Illinois. He is a licensed Certified Public Accountant in the state of Illinois and is in the process of obtaining a Certification of Insolvency and Restructuring Associate (CIRA). Mr. Shiffman is a member of the Turnaround Management Association (TMA) and the Association of Insolvency and Restructuring Advisors (AIRA). 

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The ADA assesses the robustness of balance sheets and earnings of thousands of companies across 33 countries, identifying companies that are in financial distress, as well as those with weak balance sheet robustness or weak performance.
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