Strategic Turnaround Management on the example of Karstadt Warenhaus GmbH

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Turnaround management addresses critical financial challenges threatening a company's sustainability, focusing on restoring operational performance, liquidity, and creditworthiness. This systematic restructuring process may involve radical measures to ensure continuity in operations, reflecting the determination of shareholders and management to navigate through crises. The research highlights strategies essential for effective turnaround management within corporate governance, emphasizing the importance of decisive action in times of financial distress.