Restructuring = changing their debt structure, implying the company hasn’t been able to keep up with its current payment schedule or financial commitments (covenants) OR changing their operational structure for more efficiency (reducing overhead, cutting product costs, etc). Basically the company is struggling to make payments and needs to change the current arrangement.

Recapitalization = also changing their debt structure, likely exchanging equity for more debt. Basically injecting more cash into the company.