Vice has named a well-known restructuring guru to its board amid speculation that the company could be on the verge of bankruptcy, the New York Post reported. After more than a year of trying to sell itself, Vice has brought in Mo Meghji — who served as Chief Restructuring Officer for Sears and Barney’s — to the board. “Oftentimes, large, troubled companies will bring a restructuring expert to the board to guide the company through this process,” said Perry Mandarino, co-head of restructuring and at B. Riley Securities. The move reveals a new level of desperation and an increasing likelihood Vice will be chopped up and sold in pieces with shareholders being wiped out. Vice previously retained FTI and AlixPartners to explore restructuring. FTI is now suing to recover $1 million in fees.
