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About: Corporate recovery     Goto   Sponge   NotDistinct   Permalink

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A corporate recovery (also referred to as corporate turnaround, restructuring, retrenchment, or downsizing) is a rescue undertaken by professional accountants or financiers who are trained to assist the management of a company in financial and other difficulties. This work is usually initiated at the behest of the directors of the company and is normally undertaken by licensed insolvency practitioners. Firms may assist in corporate recovery by offering services related to bankruptcy, financial advisory, performance improvement, trustee, and restructuring activities.