Turnaround management Germany
Turnaround management Germany: Hands-on recovery for mid-sized companies
Cash running short, margins turning negative or a bank asking for a restructuring plan by a set date.
Reviewed by Oliver Herzog, Managing Partner · Last updated October 2026
Octobiz provides turnaround management in Germany for mid-sized companies under pressure. Within 3 working days of complete data we tell you whether and how the company can be saved. A fixed-fee rescue plan follows in about three weeks, with our senior team on site no later than day 7. Where needed, experienced interim executives carry the plan out. We work in German and English.
Definition
What is turnaround management?
Turnaround management rescues a company in financial or operational crisis: Diagnosing the causes, stabilizing liquidity, building a restructuring plan lenders accept, and implementing it.
In Germany it runs alongside the legal deadlines of the Insolvency Code (InsO) and, where useful, the StaRUG restructuring framework. To see the role day to day, read what a turnaround manager actually does.
The legal clock
When German companies need turnaround management
A crisis usually starts as a strategic problem, becomes an earnings problem, then a liquidity problem, and only at the end a legal one. Each stage closes off options, and in Germany the law sets a hard limit on how long directors can wait.
Filing deadlines
Under Section 15a of the Insolvency Code, managing directors must file no later than three weeks after the company becomes illiquid and no later than six weeks after it becomes over-indebted. Missing the deadline can bring personal liability and criminal penalties.
The over-indebtedness test
Over-indebtedness depends on a 12-month going-concern forecast. The 12-month horizon has applied again since January 1, 2024.
Earlier options
If illiquidity is impending, assessed over 24 months, a company can use the StaRUG framework, protective-shield or self-administration proceedings. These routes need German restructuring counsel.
Source: Destatis, press release of March 13, 2026. This section is general information, not legal advice. For your situation, speak to a German insolvency or restructuring lawyer.
Services
Our turnaround management services in Germany
From diagnosis to implementation, managed by us. That is the difference between consulting that ends with a slide deck and a mandate where the adviser is still there when the plan meets reality.
Crisis diagnosis
AI-assisted analysis of liquidity and P&L, a stakeholder map and the real causes of the crisis. Starts with the RXI™ scan, ready within 3 working days.
Bankable rescue plan
Emergency strategy, restructuring concept and communication plan for banks, investors and the board, in about three weeks at a fixed fee.
Interim leadership and CRO
An experienced executive runs the turnaround, standard as chief restructuring officer with power of attorney.
Operational restructuring
Cost drivers, processes and working capital, from alternative sourcing to a 90-day cost program, tracked against liquidity, EBITDA and revenue.
If your lenders require a formal IDW S6 opinion, or the company needs StaRUG or self-administration proceedings, a German auditor or restructuring lawyer handles that part. We work alongside them.
Roles
Turnaround consultant, interim manager or insolvency administrator?
These roles get mixed up, and in Germany some are appointed by a court rather than by you.
| Role | Who appoints | What they do | Octobiz |
|---|---|---|---|
| Turnaround consultant | Company | Diagnosis, rescue plan, lender communication | ✓ |
| Interim manager or CRO | Company | Leads implementation with operational authority | ✓ |
| IDW S6 auditor | Company, often at lenders’ request | Formal restructuring opinion | · |
| Insolvency administrator | Court | Runs the insolvency proceedings | · |
Octobiz covers the first two roles in one mandate. The last two sit with German auditors and the courts.
Fees
What does turnaround management cost in Germany?
Turnaround work is usually priced in one of three ways: Day rates, a fixed price per phase, or fees linked to results. The difference is who carries the risk. With day rates you pay whether or not the plan works. A fixed phase price caps your cost for a defined piece of work. A performance component shares the risk.
Octobiz combines both: Fixed fee to start. Performance-linked fees for execution. The recoverability scan and the rescue plan are fixed fees agreed in advance. During execution, part of the fee can be tied to agreed results.
Choosing a provider
How to choose a turnaround management company in Germany
Most providers fall into one of four groups: Audit and advisory firms, specialist restructuring boutiques, interim management networks and hands-on turnaround firms such as Octobiz. Five questions help before you sign.
01
Track record
How many turnarounds have they led in companies like yours?
02
Bank acceptance
Have banks accepted their plans? Ask for examples.
03
Operational control
Will they run the turnaround, or only advise?
04
Fee alignment
What is fixed, and what depends on your outcome?
05
Speed
How soon can someone senior start? In a liquidity crisis, days count.
Coverage
Turnaround management across Germany
Turnaround work happens where the business is: In the finance team, on the shop floor and across the table from the bank. We deploy our team on site anywhere in Germany, from Hamburg to Munich, from Düsseldorf to Berlin, Frankfurt and Stuttgart.
FAQ
Turnaround management Germany: FAQ
Which are the best turnaround firms in Germany?
Germany has no official ranking of turnaround firms. The market splits into audit and advisory firms, specialist restructuring boutiques, interim management networks and hands-on turnaround firms such as Octobiz. The best choice depends on your crisis stage, whether your lenders require an IDW S6 opinion, and whether you need someone to take operational control.
Who offers turnaround management services in Germany?
Audit and advisory firms, specialist restructuring consultancies, interim management providers and international turnaround firms. Octobiz offers mid-sized German companies a recoverability scan within 3 working days, a fixed-fee rescue plan in about three weeks and hands-on implementation by senior interim executives.
How are leading turnaround consultants judged?
On track record, completed mandates, whether banks accept their plans and whether they take operational responsibility. Independent lists such as the Handelsblatt Research Institute’s “Best Consultants” recognize restructuring specialists. Octobiz focuses on implementation: Its partners manage the turnaround themselves.
What does turnaround management cost in Germany?
Costs depend more on the fee model than on the provider. Day rates leave the risk with you, fixed prices cap it and performance components share it. Octobiz starts with fixed fees for the scan and the rescue plan and links part of the execution fee to agreed results.
Do we need a provider with an office in Frankfurt or Berlin?
Most turnaround work happens on your premises, so availability matters more than a local address. Octobiz deploys its team on site anywhere in Germany, no later than day 7 of a rescue plan mandate.
What does turnaround consulting and restructuring in Germany cover?
Crisis diagnosis, liquidity planning, restructuring concepts, lender negotiations and, where needed, StaRUG or self-administration proceedings, which require German legal counsel. Octobiz combines consulting with operational restructuring and interim leadership in one mandate.
What is the situation in 2026?
Sustained insolvency pressure: German courts registered 24,064 company insolvencies in 2025, the most since 2014, according to Destatis. Early action keeps options open.
Do you specialize in distressed turnarounds close to the filing deadline?
Yes. We work with companies facing liquidity pressure, falling revenue or lender ultimatums, often close to the deadlines in Section 15a InsO. We take operational responsibility and build a plan that banks, investors and boards can accept, together with your legal advisors.
Backed by a senior team
Who leads your turnaround
A small, senior team instead of a junior pyramid. Three partners lead every mandate in person. Our Chief AI Developer and his team build the tools that make them faster.
Oliver Herzog
Aurelio Doetsch
Kevin Waugh
James Kowalske
Confidential · Senior-led · Fixed fee to start
The earlier the call, the more options remain.
Every request is read by a partner and answered personally, in strict confidence. One conversation is enough to know whether we can help.