Edwards Farm Products was unable to meet its financial obligations and was forced into using legal proceedings to restructure itself so that it could continue as a viable business. The process this company underwent is known as a:

Reorganization is an important and disruptive overhaul of a business or firm that is troubled with the intent to restore the business to profitability. Reorganization may include replacing management, laying off workers, selling or shutting down divisions and cutting budgets.

In Reorganization, a company's internal structure is overhaul. Companies go through reorganization to reposition the business, cut costs, improve efficiency, and deal with mergers and acquisitions.

tutorAnne tutorAnne · Answer 2 · 2020-04-13T02:43:42+02:00

Answer: The process is known as Reorganization.

Explanation:

A reorganization is a significant and drastic change of a financial troubled business or company's operations and management in order to restore it back to profitability Most times most companies are forced into using legal proceedings to restructure themselves which becomes a supervised reorganization to continue being viable and to to improve productivity

Companies restructure in many ways and examples of restructuring in business include selling some divisions, replacing old management, cutting budgets, reducing spending and laying off workers.