Reorganization is a significant and disruptive overhaul of a troubled business

A reorganization is a significant and disruptive overhaul of a troubled business intended to restore it to profitability. It may include shutting down or selling divisions, replacing management, cutting budgets, and laying off workers.
Reorganization, in a business context, is an overhaul of a company's internal structure. Companies go through reorganization for various reasons. Purposes include improving efficiency, cutting costs, repositioning the business, and dealing with corporate changes such as mergers and acquisitions.

1. 
   Identify the different groups who will need communication and the different messages/information they will need.
   
2. 
   Determine series of review and update meetings with management.
   
3. 
   Determine schedule of informational meetings with staff.
   
4. 
   Plan communications outside department to announce reorganization.
   

Liquidation in finance and economics is the process of bringing a business to an end and distributing its assets to claimants. It is an event that usually occurs when a company is insolvent, meaning it cannot pay its obligations when they are due.
The main reason a business would choose to liquidate their assets is due to insolvency. Insolvency essentially means that a business reaches a point where it is not able to make necessary payments when they are due. Choosing liquidation converts the business assets to cash, which is then used to make these payments.