Turnaround management UK
Turnaround management UK: Hands-on recovery for mid-sized companies
HMRC arrears building up, a covenant close to breach or a bank asking for a plan by a fixed date.
Reviewed by Oliver Herzog, Managing Partner · Last updated October 2026
Octobiz provides turnaround management for mid-sized UK companies under cash, revenue or lender pressure. A recoverability scan within 3 working days tells you where you stand. A fixed-fee rescue plan follows in about three weeks, and experienced interim executives carry it out where needed. We take operational responsibility instead of handing over a report.
Definition
What is turnaround management?
Turnaround management rescues a company in financial or operational crisis: Diagnosing the causes, stabilizing cash, building a plan lenders will accept, and implementing it.
In the UK it runs alongside directors’ duties under the Insolvency Act 1986 and, where needed, formal tools such as a CVA, a moratorium or a restructuring plan. To see the role day to day, read what a turnaround manager actually does.
The legal picture
When UK directors should act
The earlier a turnaround starts, the more options it has. Each stage of a crisis closes some of them off.
There is no fixed filing deadline
The risk is wrongful trading. Under section 214 of the Insolvency Act 1986, a court can order a director to contribute to the company’s assets if the director knew, or ought to have concluded, that there was no reasonable prospect of avoiding insolvent liquidation. The defense is having taken every step to minimize the loss to creditors.
Creditors come first sooner than you think
Once insolvency is imminent or probable, directors must give weight to creditors’ interests (UK Supreme Court, BTI 2014 LLC v Sequana SA, 2022).
Formal tools need a licensed practitioner or the court
The Part A1 moratorium, a CVA, a restructuring plan under Part 26A of the Companies Act 2006 and administration.
HMRC ranks higher than it used to
Since December 1, 2020, HMRC has been a secondary preferential creditor for certain taxes. Tax arrears need early attention.
Source: Insolvency Service. This section is general information, not legal advice.
Services
Turnaround management services UK: What we do
From diagnosis to implementation, managed by us, so the adviser is still in the building when the plan meets reality.
Crisis diagnosis
AI-assisted liquidity and P&L analysis, stakeholder mapping and the real causes, starting with the RXI™ scan, ready within 3 working days.
Bankable rescue plan
Emergency strategy, restructuring concept and a communication plan for banks, investors, the board and, where relevant, HMRC.
Interim leadership and CRO
An experienced executive runs the turnaround as chief restructuring officer with power of attorney.
Operational restructuring
Cost base, processes and working capital. Where tax arrears are part of the pressure, a Time to Pay arrangement with HMRC may be an option.
We don’t run CVAs, administrations, liquidations or other formal insolvency procedures. In the UK, only a licensed insolvency practitioner can. When a formal procedure is needed, we work alongside one.
Roles
Turnaround consultant or insolvency practitioner?
If someone tells you that you need business rescue, it helps to know which role they mean.
| Role | Who appoints | What they do | Octobiz |
|---|---|---|---|
| Turnaround consultant | Company | Diagnosis, rescue plan, lender communication | ✓ |
| Interim executive or CRO | Company | Leads implementation with operational authority | ✓ |
| Licensed insolvency practitioner | Company, creditors or court | Monitors moratoria, runs CVAs and administrations | · |
| Official receiver | Court | Compulsory liquidation | · |
Fees
What does turnaround management cost in the UK?
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 the UK
Most UK providers fall into one of four groups: Global advisory firms, accountancy practices, licensed insolvency practitioner firms and hands-on turnaround specialists. Six questions help before you sign.
01
Track record
How many turnarounds have they led in companies like yours?
02
Lender 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 cash crisis, days count.
06
Credentials
Turnaround Management Association (UK), Institute for Turnaround, R3 membership, and an insolvency license if formal work is likely.
FAQ
Turnaround management UK: FAQ
Which are the best turnaround firms in the UK?
There is no official ranking. The market splits into global advisory firms, accountancy practices with restructuring teams, licensed insolvency practitioner firms and hands-on specialists such as Octobiz. The best fit depends on your crisis stage and whether you want someone to take operational control.
Which companies offer turnaround consulting for distressed UK businesses?
Restructuring advisers, accountancy firms and specialist consultancies, usually alongside a licensed insolvency practitioner when a formal procedure is needed. Octobiz takes operational responsibility, stabilizes cash and builds a plan banks, investors and boards can accept.
How are top turnaround consulting firms judged?
On track record, lender acceptance and willingness to take operational responsibility. Many practitioners belong to the Turnaround Management Association (UK), R3 or hold Institute for Turnaround accreditation.
Which are the most affordable turnaround services in London?
Costs depend more on the fee model than the postcode. 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 rescue plan.
Do you work in Manchester and the North West?
Yes. Most turnaround work happens on your premises, so availability matters more than office location. We deploy partners on site across the UK.
Do you work with ecommerce businesses?
Yes, whatever platform they run on. We apply the same diagnosis of liquidity, margins and working capital to online retailers as to any other business.
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.