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Based on your description, if your colleague changed the column type from Single line of text to Multiple lines of text, this change would not normally delete the existing data. In general, data loss is more commonly associated with changes in the opposite direction (for example, from Multiple lines of text to Single line of text, where content may be truncated due to character limits).
Could you confirm whether you checked the version history only at the list level, or did you also check the Version History for individual list items? Sometimes historical values can still be found there.
If the data is genuinely missing and there is no available version history to recover it, the best course of action would be to contact Microsoft Support by opening a support ticket through the Microsoft 365 Admin Center as soon as possible.
Note: If you are not a Microsoft 365 administrator, I would recommend reaching out to your organization's administrator and asking them to create the support request on your behalf.
Once the support ticket is opened, a Microsoft support engineer can conduct a remote troubleshooting session, investigate the issue in greater detail, review service-side configurations, and perform additional diagnostics that are not available to end users. If necessary, the case can also be escalated to a specialized engineering team for further analysis and recovery options.
Please kindly understand that this is a user-to-user community forum. I do not have access to Microsoft's internal diagnostic tools, backend systems, or your organization's Microsoft 365 environment, nor do I have the ability to directly investigate tenant-specific issues. I am simply a fellow community member trying to point you toward the most effective support path available.
Thank you for your time.
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