John Keen

Managing Director
20+ years of experience in restructuring
Advises debtors and creditors across industries including media, professional practices, manufacturing, retail and motor retail
Has worked in the U.K., Germany, Switzerland and Eastern Europe
London
@alvarezmarsal
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John Keen is a Managing Director with Alvarez & Marsal in London, with more than 10 years of restructuring and turnaround experience. He advises both debtors and creditors across a broad spectrum of industries including media, professional practices, manufacturing, retail and motor retail.

Mr. Keen works primarily in the U.K. and has spent significant time on projects in Germany, Switzerland and Eastern Europe. He managed the financial and operational restructuring of a listed media company, which was in breach of its banking covenants and encountered an unsuccessful restructuring. He led the initial strategic and business review and worked with the board to design and implement a restructuring plan that included the accelerated disposal of non-core subsidiaries and closure of other loss-making subsidiaries.

During the process, Mr. Keen also managed the expectations of key stakeholders, including financial institutions. The successful turnaround strategy delivered a 50 percent improvement in EBITDA together with a 30 percent reduction in bank debt in 12 months.

Additionally, he advised the board of a severely underperforming manufacturing business on potential cost-reducing actions, including the consolidation of its multi-site production facilities. In this capacity, he modeled the financial implications of the move in the short term and validated the business case by producing a three-year forecast. He also provided forecast assurance to the board, oversaw cash management throughout the process and managed key stakeholder relations.

Before A&M, Mr. Keen served four years as Lead Restructuring Partner with Baker Tilly in London in a range of areas, including creditor-led investigations, risk management strategies, and workouts for the U.K. clearing banks and asset-based lenders.

On the debtor side, he undertook a variety of roles for clients, from crisis cash management and stabilization through preparation and implementation of full restructuring plans. In addition, he held key account responsibilities with several U.K. clearing banks on a national and regional basis. He also spent a year on secondment with National Westminster Bank before its acquisition by Royal Bank of Scotland.

Previously, Mr. Keen traded a chain of 90 sport retail outlets for seven months while a piecemeal disposal of the chain was undertaken. He also spent six months working for the Romanian government monitoring the rundown and sale of previously state-owned agricultural entities.

Mr. Keen earned a bachelor’s degree in economics, with honors, from University College of London and is a member of the Institute of Chartered Accountants of England and Wales.

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