Financially trouble Talenthouse, parent of EyeEm, to restructure

GaryPageau ,
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The talent platform and parent company of EyeEm, Talenthouse AG, has entered into a term sheet with investors to provide short-term liquidity to tackle urgently required restructuring measures. The company claims that first contributions have been firmly committed by the investors and are expected to be transferred to the company within the next days, according to published reports.

Details of the announcement are below:

Talenthouse AG has applied to the Cantonal Court of Zug for a provisional debt-restructuring moratorium as part of its restructuring process. The court approved the provisional debt-restructuring moratorium, with start yesterday (24 August 2023). The provisional debt-restructuring moratorium offers the company the possibility to implement the planned restructuring measures without undue pressure. Talenthouse will inform on further steps in the restructuring process in due course. Talenthouse asks all shareholders, creditors and other stakeholders to support the planned restructuring measures. Without such support the threat of bankruptcy remains – despite the moratorium – imminent, which would in the view of the Company be the worst-case scenario for all parties.

About Talenthouse

AG Talenthouse AG is a technology platform and services company that brings brands and a global network of creatives together to make innovative content that engages, inspires, and drives action. Talenthouse is leading a structural shift in the way that creative content is produced, employing a platform business model to source content at the scale and quality required to keep pace with consumer demand in the digital age. In doing so, it also opens up opportunities for a much larger pool of creative talent. While most industries are in recession, the global creator economy, a $2.8 trillion market, is still growing.

In February, the SIX Swiss stock exchange suspended Talenthouse’s shares following the failure of the company to file its 2022 annual report. At the same time, many creatives who had worked via the platform came forward to reveal they had not been paid for the work they had done, according Staffing Industry.