Corporate Undertaker


DEFINITION of 'Corporate Undertaker'

An informal term for liquidator. As the name implies, a corporate undertaker oversees the liquidation of an insolvent company. In other, more descriptive words, he or she is the figurative funeral director of a deceased company, settling all of the company's outstanding accounts. This can include making arrangements with creditors, selling company assets and anything else related to shutting down the company.

BREAKING DOWN 'Corporate Undertaker'

Before a company is forced to declare bankruptcy, these corporate undertakers suggest ways to return it to health. Suggestions can range from ways to cut costs to means of increasing production and efficiency. In some cases, a business can run into trouble because of issues faced by other companies it relies on, i.e., a key supplier or distributor. By addressing these concerns before they've reached a critical point, corporate undertakers may sometimes be able to stave off bankruptcy and return a company to full or partial health.

  1. Liquidator

    In the most general sense, a person or entity that liquidates ...
  2. Delinquent

    The failure to accomplish what is required by law or duty, such ...
  3. Bankruptcy

    A legal proceeding involving a person or business that is unable ...
  4. Illiquid

    The state of a security or other asset that cannot easily be ...
  5. Discharge In Bankruptcy

    A permanent order that releases the debtor from personal liability ...
  6. Liquidation

    1. When a business or firm is terminated or bankrupt, its assets ...
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  1. What are some alternatives a company can attempt prior to resorting to liquidation?

    Some alternatives a company's owners can attempt prior to resorting to liquidation are selling the company, raising money ... Read Full Answer >>
  2. Under what circumstances might a company decide to liquidate?

    There are many reasons a company may decide to liquidate. A smaller company may decide to liquidate if one of the main owners ... Read Full Answer >>
  3. What happens to the shares of a company that has been liquidated?

    The fate of a liquidating company’s shares depends on the type of liquidation the company is undergoing. The most common ... Read Full Answer >>
  4. What is the difference between compulsory and voluntary liquidation?

    Liquidation is the process where a firm's assets and liabilities are terminated, realized and subsequently distributed. In ... Read Full Answer >>
  5. What can cause a merger or acquisition deal to fail?

    When two large companies announce plans to merge, or when the larger of the two acquires the smaller entity, the surviving ... Read Full Answer >>
  6. What happens when a corporation declares bankruptcy?

    When a corporation faces severe financial challenges that cause its inability to repay debt obligations, filing for protection ... Read Full Answer >>

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