Reorganization

It's a keyword for "reorganizing after something reallllly bad happened to you inancially."

Reorging can apply to company structure (like, the CEO is fired and then everyone below her gets shuffled around), but in more dramatic parlance, it refers to the debt of a company being re-jiggled. Like...the company is almost at the end of its rope in paying off its obligations, i.e., its cash flow all goes to paying interest and not much else. So rather than risk bankruptcy, it has a talk with its lenders, who then tweak different dials, reorganizing the company's balance sheet so that it has more room to...do stuff. Like...the 8% debt might be rejiggled to be only 4% for the next 2 years, but the company gives the lender 1% of new equity it prints just to say thanks. Or the loan terms might get extended to a longer payoff, but with no interest for 2 years or so. Something like that.

Lots of dials. One of the myriad ways investment bankers get paid.