Paul Valentine apparently slides into insolvency proceedings

The start-up is actually an Instagram success story, but is now in crisis according to a media report.

According to a report by Gründerszene, Paul Valentine has filed for insolvency. Founded in 2015, the start-up specialized in the sale of watches, necklaces and earrings and was able to build up an Instagram community of more than half a million followers. However, this was apparently not enough to fend off the crisis.

According to a statement from the company, the insolvency proceedings are now intended to comprehensively restructure the business. However, Gründerszene at least questions whether this will succeed. After all, the start-up has been in a bad way for some time and the company was apparently already in a restructuring phase in 2021 and wanted to find out how the start-up founded by siblings Marlene and Paul Franzreb could continue. They have not yet brought external investors on board.

But that could change. Gründerszene quotes the provisional insolvency administrator Dietmar Haffa as saying: "We have already received initial inquiries in this direction, which we are now examining together with the management."