Richard Fleming

Richard Fleming

Managing Director
Richard Fleming
Quick facts
Leads the European Restructuring practice
30+ years of international restructuring experience
Advises boards, financial stakeholders, creditor groups and shareholders in stressed and distressed situations
Pioneered the use of company voluntary arrangements (CVA) on the U.K. High Street
Contact info
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Richard Fleming is a Managing Director with Alvarez & Marsal and leads its Restructuring practice in Europe.

Mr. Fleming has more than 30 years of restructuring experience across a wide range of industries and has played an integral role in a number of high-profile stressed, distressed and insolvency cases in the public and private arena. He acted as the administrator of MF Global, the commodities brokerage firm, and Leeds United FC, and led the company-side restructuring of Southern Cross Plc, the largest nursing home operator in the U.K. at the time with 41,000 employees. This assignment involved complex stakeholder management issues and ultimately led to the consensual breakup of the group on a solvent basis.

Mr. Fleming led the restructuring of JJB Sports Plc and Blacks Leisure Plc, breaking new ground by taking these privately listed companies through company voluntary arrangements without any share suspension, paving the way for subsequent equity raises. He has advised and acted as administrator to numerous retailers including Threshers, Peacocks and La Senza and led the restructurings of Fitness First and Travelodge, both of which generated a significant increase in value to financial and equity stakeholders.

Mr. Fleming has led many complex stressed, distressed and insolvency situations, and has extensive experience in retail and leisure, financial services (including MF global), healthcare, mining, manufacturing, property and oil and gas.

Mr. Fleming previously led KPMG’s U.K. restructuring practice and the U.K. firm’s entire advisory offering, serving on its U.K. board and global advisory board.

Mr. Fleming is a member of the Institute of Chartered Accountants in England and Wales, the Institute of Chartered Accountants in Australia and New Zealand, and R3, and is a Licensed Insolvency Practitioner.