When things go wrong
Restructuring
A deep reorganisation of a company's operations or finances, often to survive or regain profitability.
Operational restructuring changes how the business runs: closing sites, cutting jobs, selling divisions. Financial restructuring changes who the company owes money to and on what terms, for instance extending loans or converting debt into shares.
In a financial restructuring, existing shareholders can lose their stake entirely when creditors take over. Several “What went wrong” cases cover exactly that.
General explanation for education only, not investment advice. Company-specific definitions can differ; each breakdown uses the company’s own.