The online auction start-up Auctionata Paddle8 AG filed a request to open insolvency proceedings on January 16, according to publicly accessible documents published by the Amtsgericht Charlottenburg, the district court responsible for the companys headquarters in West Berlin.
Auctionata, founded in 2012, has reportedly been under financial strain recently; last week, the German online magazine Gründerszene reported the companys recent troubles, including layoffs and failure to pay employees December 2016 salaries.
CEO Thomas Hesse confirmed the insolvency filing to Gründerszene today, saying, This was necessary, because a required financing could not be secured quickly enough.
Hesse, however, doesnt …
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