TALENTHOUSE AG CREDITORS

Talenthouse AG is a Swiss-based business, listed on the SIX Exchange and comprising the platforms Talenthouse, Zoopa, Ello, Elloworks, Creative Commission and Sponsokit, (formerly the companies Coolabi and EyeEm were a part of the group also).

The current board has mismanaged the business to the verge of bankruptcy, this has been documented in the press, (here, here and here). In November of 2022, staff suddenly stopped being paid but were assured the business would receive a capital injection allowing it to continue. Despite many promises over the following months, in March 2023 the various international subsidiaries which held the employment contracts were wound up leaving all staff unemployed and without four months of back pay. From that date forward the company hasn't traded and the shares have been suspended on the Six Exchange. 

 

Whilst the subsidiaries were closed the main listed entity known as Talenthouse AG remained, as did the aforementioned board of directors. The company has value due to its listed status and the board is certainly signalling that they have an interested party willing to engage with the business, you can find this announcement here. Inconveniently for the board, there are still a number of parties with outstanding debts owed directly by Talenthouse AG. Unfortunately, the businesses and individuals owed money by the dissolved subsidiaries will never see what they are owed, however, for those owed money by specifically Talenthouse AG there are still options. In order to satisfy the creditors owed money by Talenthouse AG the board of directors is attempting to enter into what is known in Swiss corporate law as a debt moratorium. Under this process, creditors within Talenthouse AG will be asked to accept a percentage of what they are owed and once agreed sign a document agreeing to take no further action against the company and that their debt is considered paid. 

 

As creditors in Talenthouse AG, we have set up this forum so that any business or individual owed money by Talenthouse AG, (and therefore party to the debt moratorium) can be in touch with one another and exchange information as the process progresses. There is a court case scheduled for the 19th of April where a judge will decide whether the company can go through with a debt moratorium or whether the company will be declared bankrupt, (for German speakers you can view these details here). If you are a creditor specifically of Talenthouse AG please enter your email address below and we will share any information and find a suitable forum to exchange knowledge and try to ensure the best outcome for all creditors.