“An eventful time lies behind us” is on the Kuchentratsch's LinkedIn page In July, the Munich-based baking startup Insolvency due to impending insolvency with the Munich District Court. Follow-up financing for investments planned for this year could not be successfully concluded, which led to a liquidity shortage. The facility at Theresienwiese was originally supposed to be transformed into an "experience bakery" with a café and event space. Kuchentratsch wanted to achieve this with a Crowdfunding campaign The campaign was also successful: 157 investors pledged a total of €234,200, making the campaign 234 percent funded. However, the capital raised could not close the funding gap. Kuchentratsch founder Katharina Mayer wrote about it:
"The overall tense economic situation has also hurt us, and the campaign wasn't as successful as it should have been. The pandemic has hit us hard; when special protection and caution are required, that also has consequences."
Even existing shareholders like Carsten Maschmeyer did not want to invest in the Munich startup again.
Glimmer of hope in August
The news in August that the insolvency administrator Max Liebig had several binding offers for a takeover The fact that the project was available gave Katharina Mayer and her employees renewed hope. As the founder emphasized, her main priority was to save the company's idea. Since its founding in 2014, the social enterprise has been selling cakes baked by grandmas and grandpas. This not only gives seniors the opportunity to earn extra money to supplement their pensions, but also allows them to make new contacts and engage in regular interaction with other seniors.
Restart in October
With a partner on board, this idea now seems to be on the verge of being saved. Together with this yet-unnamed partner, the Munich-based startup will mitigate the effects of the coronavirus pandemic and implement new ideas.
“Together with a strong partner, we want to get started again and bake delicious grandma cakes,”
writes cake gossip LinkedInWe're also looking to expand our team; several positions are currently open. The relaunch is planned for October.
