Managing Director
George P. Blanco, CIRA

George Blanco has over 25 years of senior executive and consulting positions performing financial and operational management for both financially distressed and high growth companies. His crisis and turnaround management experience includes operational and financial restructuring, cost reduction programs, reorganizations in bankruptcy, negotiations with lenders and creditors, and capital sourcing. In addition to chief restructuring officer (“CRO”) roles, he also has served as CFO of a public company and CEO of a telecommunications provider.

George is a Certified Insolvency and Restructuring Advisor (“CIRA”) having served more than 12 years in the Big 4 accounting and consulting firm environment. In his combined 30 years of consulting and senior level experience, he has served as partner and managing director in consulting, financial advisory, and the corporate recovery practices of PricewaterhouseCoopers and AlixPartners. He is experienced in manufacturing plant consolidations, supply chain/logistics, management business process re-engineering, operational restructuring, financial and manufacturing systems implementation, post-acquisition integration, and working capital improvement for both middle-market and “Fortune 500” companies across multiple industries. His experience includes:

• Cost reduction programs and operational restructuring for companies such as Allergan International, Tosco Corporation, Maxon Corporation, ARCO AM/PM, Unocal/76 Products, Technicolor, Warner Home Video, Haagen Dazs, IHOP, Giorgio of Beverly Hills, Smitty’s Super Value, Discount Tire Centers, MARS Candy/Ethel M. Chocolates, and USC University Bookstore.
• Out-of-court restructuring of multiple middle market retailers – grocery, apparel, furniture and consumer goods -- including 4-wall profit optimization, store closings, merchandise management, information technology data optimization, and negotiations with all parties-in-interest.
• Profit improvement and out-of-court restructuring assignments for numerous manufacturing, technology, and distribution companies that included supply chain management, logistics, product line rationalization, and plant consolidations.
• Restructuring advisor to construction-related companies ranging from $70 million to more than $1.5 billion in revenue that included cost management, project analysis, bonding arrangements, asset sales, and negotiations with all parties-in-interest to improve recoveries and successful restructurings for such companies as Dillingham Construction, CalMat, Morrison Knudsen, Builders Trade Source Corporation, Tosco (refinery turnaround process), and the Los Angeles Community College District.
• Bankruptcy and cash management healthcare engagements for Vista Health System, Daniel Freeman Hospital, Grady Memorial Hospital, and the Arizona Healthcare Cost Containment System.
• Advisor to and/or executive for numerous companies involving change management and leading to improved profitability and/or business refinancing.

Other assignments include:

o CEO of a telecommunications company through Chapter 11 reorganization and subsequently leading to new product development and launches.
o Restructuring advisor to $1.1 billion revenues Read-Rite Corporation and its secured lender in sale of the business.
o Chief Restructuring Advisor to $1.5 billion revenues worldwide Dillingham Construction, involving 5 divisions covering commercial, road/infrastructure, and residential construction with international operations.
o Chief Restructuring Advisor to Second Chance Body Armor, $100 million revenue manufacturer of body armor for numerous police municipalities globally and the U.S. military.
o Integration and restructuring of $1.5 billion revenues Bayway Refining Company, a 200,000 barrel per day refinery, that increased production capacity 110% with reduced headcount of 25%.
o Restructuring advisor to Conlins Furniture, a regional mid-west retailer with $70 million in annual sales, resulting in a successful refinancing.
o Chief Restructuring Advisor to Bordiers Nurseries, $60 million revenue nursery wholesaler with operations throughout Southern California.
o Restructuring advisor to Glen Ivy Hot Springs, a regional spa operator with nearly $30 million in sales.
o Global Project Manager for implementation of Oracle Financial Systems of Unocal 76 Products division, following the failed implementation of the project by internal management teams.

George has been interviewed or quoted in the following:

• Fox Business Network, May 26, 2010 interview with television commentator Brian Sullivan on AlixPartners’ Survey Results
• Time Magazine, May 24, 2010, on behalf of AlixPartners regarding “Municipal Bonds: The Next Financial Land Mine?”
• Wall Street Journal, December 3, 2008, “Retail Insolvencies Expected to Rise in the New Year
• Los Angeles Business Journal, February 25, 2008 and March 24, 2008 involving access to capital markets
• San Francisco Business Journal, March 25, 2008 involving Red Envelope and retail Chapter 11 filings
• Business Journal of Phoenix on March 21, 2008 involving the mortgage industry crisis
• Richmond Times Dispatch on November 9, 2008 involving the Circuit City Chapter 11 filing

His involvement with the Turnaround Management Association (“TMA”) includes:

• Current Southern California TMA board member and programs chair in which he coordinates monthly and major events such as “Night of Excellence,” annual combined Commercial Finance Association, Association for Corporate Growth, and Los Angeles Venture Association event
• TMA Western Regional conference panel speaker on “Finding Hidden Treasure in Turbulent Seas,” July 25, 2010 and “The Troubled Loan Workout Process – Expert Insight in a Challenging Market,” December 16, 2008.
Similarly, as a Certified Insolvency and Reorganization Advisor (“CIRA”), George’s involvement with the Association of Insolvency and Restructuring Advisors (“AIRA”) includes:
• Serving on the 2010, 2009 and 2008 annual AIRA conference planning committees
• Panel speaker for AIRA annual events (June 2008 – “Best Practice Issues in Operations,” and June 2005 – “Financial Advisors Toolbox – Turnaround Tools”).
George has also spoken at events of the California / Los Angeles/ Orange County / Bankruptcy Forums:
• Orange County Bankruptcy Forum -- “Economic Trends,” May 27, 2010
• Los Angeles Bankruptcy Forum -- “Industry and Economic Trends,” April 12, 2010
• California Bankruptcy Forum -- “Good Faith Doctrine Issues in Chapter 11,” May 2004 annual conference
His American Bar Association presentations include:
• Winter Meeting -- Middle Market Business Law Section in Scottsdale, “Business Restructuring Strategies,” January 15, 2009
• Spring Meeting – ABA Section of Business Law in Vancouver, “Business Restructuring Strategies,” April 17, 2009
• Los Angeles County Bar Association, March 18, 2009 – “The New Reorganization – Buying and Selling Troubled Companies – Bad is Good, Worse is Better.”
George has taught classes in Total Quality Management and participated on numerous panels involving operational restructuring and profitability improvement. In addition to being a CIRA, he earned his MBA in finance from the UCLA Anderson Graduate School of Management and his BA in economics and accounting from Claremont McKenna College.


Go back to "Our Team"