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David Morris

David Morris

  • Senior Managing Director
  • Corporate Finance
  • T: +44 20 3727 1371
  • F: +44 20 3727 1007
Connect with Me:
Office
    • 200 Aldersgate
    • Aldersgate Street
    • London, EC1A 4HD
    • United Kingdom
    • T: +44 20 3727 1000
    • F: +44 20 3727 1007
Certifications
Expertise

David Morris is a Senior Managing Director at FTI Consulting. He is Head of the UK Restructuring practice and is based in London.

Mr. Morris has over 25 years of experience advising stakeholders in complex, stressed and distressed, financial restructurings.  Mr Morris has experience advising lenders, investors and executive management teams. He has experience in many sectors, including Retail, Energy Financial services, Business Services, Industry & Consumer Products, Technology Media & Telecom and Construction across both listed public companies and private equity leveraged transactions. Mr Morris has also acted as an Expert Witness. Some examples of Mr. Morris’ experience include:

Retail

  • Lead restructuring advisor to the syndicate of 12 banks on DIA, Spanish listed supermarket (3rd largest player in its Domestic market with operations in Iberia and LATAM). The role included lead financial advisory, provision of financial, commercial and operational due diligence to support the restructuring of €2bn of debt.
  • Led the financial due diligence, valuation and review of Entity Priority Model to provide the Common Platform Information on Steinhoff (listed €20bn global retail conglomerate including Poundland, Pepco, Mattress Firm, Conforama, Bensons for Beds, Harveys and kika-Leiner) to support the restructuring of €10bn of financial debt.  
  • Led the financial and strategic review of the Co-op a £10 billion conglomerate with operations in food, retail and financial services on behalf of the incumbent Lenders, which resulted in the successful amendment of £1 billion of banking facilities.
  • Led the financial and commercial review of Edcon (South Africa’s largest retailer) which acted as the common platform information to support the ZAR26bn restructuring of the debt. 
  • Advised the Lenders of Palmer & Harvey (UK’s largest delivered wholesaler with a retail portfolio) on the refinancing and proposed restructuring.
  • Advisory partner for the independent business review of Mothercare (listed UK children and baby clothes retailer) to support the successful refinancing.
  • Advised the Lender on the debt restructuring and pre-pack sale of Faith Shoes (UK shoe retailer with 200 outlets).  The case resulted in a lender assisted sale of the Group to a newly formed retail consortium.
  • Acted as an expert witness to review, critique and validate the business plans of Silentnight  (UK mattress manufacturer).
  • Advised the lenders of a PE owned specialist bathroom retailer to support the amendment of debt facilities.

Financial Services

  • Advising the US private placement note holders in the restructuring of Cattles PLC’s (a £3m consumer finance business) £2.6bn debt facilities.
  • Lead Advisory role supporting the CH11 trustee of MF Global in respect of the European and Asian business wind downs and accelerating the repatriation of cash from Group’s subsidiaries.
  • Advised the Senior and Mezzanine Lenders of a sub prime retail financing business with a loan booked of c£100m and net debt of £150m, which resulted in the partial refinancing of the banking facilities.
  • Led the financial and strategic review of a private equity backed specialist motor insurance broker on behalf of the lenders that resulted in a recapitalisation of the business by the sponsor in return for a debt A&E.
  • Provided the board of a non standard vehicle financing business with a loan book of £300m with restructuring advisory services in respect of the restructuring of its £250m banking facilities, including the development of detailed loan by loan financial model. 
  • Advised the senior lenders of a consumer debt purchase and collection agency, which operated call centres.  The senior facilities were extended in return for an equity injection from the sponsor.
  • Advised the debt leverage provider of an alternative investment fund to develop and evaluate realisation strategies.
  • Supported the expert witness in a +£1bn lawsuit in respect of the likely restructuring options following the discovery of a substantial misstatement of the financial statements in respect of a listed consumer finance business. 
  • Advised the senior lender of a car financing and dealership Group in respect of a restructuring of the vehicle loan book financing facilities.
  • Advised the lender in a PE owned insurance broker to support a financial restructuring of the debt facilities. 
  • Advised Imperial Bank (Kenya) in respect of its planned $38m recapitalisation.
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