Corporate Workout, Renewal, and Turnaround

Corporate Workout: A non-bankruptcy strategy used to restructure a distressed company's debt through negotiation with creditors, often involving new repayment terms, asset sales, or equity conversions.

Renewal: Refers to revitalizing a company’s strategic direction, operations, or financial structure, often as a preventative or post-recovery measure to sustain long-term health.

Turnaround: A comprehensive effort to reverse a company’s decline, typically involving leadership changes, cost-cutting, operational improvements, and strategic repositioning.