Paul Valentine apparently slides into insolvency proceedings

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

Paul Valentine has filed for insolvency, according to a report by Gründerszene. Founded in 2015, the start-up specialized in selling watches, necklaces and also earrings and was able to build an Instagram community of more than half a million followers. But that apparently wasn't enough to stave off the crisis.

According to a company statement, the insolvency proceedings are now intended to comprehensively reorganize the business. However, Gründerszene at least questions whether this will succeed. After all, the start-up has been doing badly for some time and as early as 2021 the company was apparently in a restructuring phase and wanted to find out how things could continue for the start-up founded by siblings Marlene and Paul Franzreb. So far, they have not had any external investors on board.

That could change, after all. Gründerszene quotes interim insolvency administrator Dietmar Haffa as saying, "We have already received initial inquiries in this direction, which we are now examining together with the management."