While most business school graduates chase the bright lights of mergers and acquisitions, one Northeastern University alumnus has taken a radically different path—one that leads through corporate bankruptcy court. Alex Voissard's career choice represents not a retreat from prestigious opportunities, but rather a commitment to addressing complex economic realities during downturns.

The Unconventional Career Path

Voissard, who studied business administration with concentrations in finance and accounting at Northeastern's Boston campus, built the perfect academic foundation for Wall Street. Yet when peers flocked to investment banks and consulting firms, he entered the specialized world of corporate restructuring—a field demanding equal parts financial expertise, legal acumen, and diplomatic skill.

"Bankruptcy isn't about liquidation—it's about preserving value ," explains Voissard. "We work within legal frameworks to reorganize debt, optimize assets, and protect stakeholders from employees to creditors."

The Spirit Airlines Case Study

The recent Chapter 11 filing of Spirit Airlines illustrates both the challenges facing distressed companies and the critical role of restructuring professionals. The ultra-low-cost carrier's financial spiral—fueled by pandemic disruptions, rising jet fuel costs, and brutal competition—demonstrates how quickly market conditions can deteriorate.

From 2020 through 2025, Spirit accumulated staggering losses, leaving restructuring experts like Voissard to analyze balance sheets, negotiate with creditors, and seek emergency financing while maintaining operations. "These situations require surgical precision," notes Voissard. "Every decision affects thousands of jobs and entire communities."

The Restructuring Professional's Toolkit

Successful restructuring demands more than number-crunching. Practitioners must navigate contentious negotiations between competing interests while maintaining operational continuity. "You're part financial analyst, part crisis counselor," says Voissard. "The human element—understanding how decisions ripple through organizations—is as crucial as the technical work."

During economic contractions, these specialists become unsung economic first responders. Their interventions prevent viable businesses from collapsing unnecessarily, preserving jobs and local tax bases. "When done right," Voissard observes, "restructuring isn't about failure—it's about giving companies a second chance to compete."

Far from a consolation prize, corporate restructuring has emerged as a dynamic specialty combining analytical rigor with real-world impact. As economic uncertainty persists, professionals like Voissard demonstrate how technical expertise, when paired with pragmatic problem-solving, can stabilize businesses during their most vulnerable moments.