Girls flea market is looking for investors.
At the beginning of June, the second-hand platform filed for insolvency at the Stuttgart District Court, and now the restructuring expert Ilkin Bananyarli, who was appointed provisional insolvency administrator, has declared that an investor process has been initiated.
“The company has its own marketplace and is not dependent on external providers,” said Bananyarli on Friday. “We are looking for suitable investors who want to continue and develop the business model.”
In addition, the lawyer, who works for Pluta Rechtsanwalts GmbH, also commented for the first time on the current situation at Mädchenflohmarkt GmbH. Accordingly, the business operations of the company, which was founded in 2021, will be continued in full and the payment of users who have been selling the goods via the website since the insolvency was ordered on June 7th is also guaranteed. The salaries of the company’s ten employees are also secured by insolvency money for the next three months. The girls’ flea market subsidiary in Poland and its 30 logistics employees are not affected by the procedure.
Sellers have to wait for their money
The situation is different for those sellers who sold goods before the procedure and have been waiting for their money since then. For legal reasons, old claims cannot be paid out. Claims could only be made after the opening of insolvency proceedings in about three months. All creditors should then be written to by the insolvency administrator, according to the notification.
According to reports, customers who have sold clothes via the platform have not received their share of the sales price since January, which has led to complaints with the Baden-Württemberg consumer advice center increasing. This then speculated about a possible bankruptcy of the company. A bankruptcy petition was filed shortly thereafter.