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.