Summary: A manufacturer information sharing model is established for closed-loop supply chains where either the retailer or the manufacturer undertakes recovery. By using the refining Bayesian equilibrium theory, this paper derives equilibrium results of the two modes and investigates the impact of information sharing. Moreover, the equilibrium information sharing strategies are investigated and the two recovery modes are compared. The results show that in the retailer recovery mode, both voluntarily information sharing and information sharing as a result of bargaining game could be the equilibrium strategies. However, in the manufacturer recovery mode, non-sharing is the unique equilibrium. Compared with the retailer recovery mode, the information sharing in the manufacturer recovery mode is more valuable to the retailer, but less valuable to the supply chain and the manufacturer. When the recovery efficiency is high, the retailer recovery mode is better than the manufacturer recovery mode. Otherwise, the manufacturer recovery mode is better.