The Munich baking startup Until recently, Kuchentratsch sold cakes baked jointly by grandmas and grandpas online. The social startup gave seniors the opportunity to make new contacts, pursue meaningful work, and earn some extra money to supplement their retirement. Within Munich, the Kuchentratsch grandpas even delivered the cakes personally; in the rest of Germany, they were delivered by DPD. However, the startup has now had to file for bankruptcy and cease operations.
According to the company, it was unable to successfully secure follow-up financing for investments planned for this year, which led to a liquidity shortage. The facility at Theresienwiese was originally intended to be converted into an "experience bakery" with a café and event space. Kuchentratsch wanted to achieve this with a Crowdfunding campaign which was actually successful: 157 investors had pledged a total of 234,200 euros, which meant that the campaign was 234 percent funded. However, this was not enough, as founder Katharina Mayer on LinkedIn explained:
"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."
Carsten Maschmeyer wanted to sell shares for a symbolic euro
A renewed commitment by the existing shareholders was also out of the question, and an agreement with a potential new investor failed. As Gründerszene learned, Carsten Maschmeyer – who invested in Kuchentratsch in 2018 as part of the TV show "Die Höhle der Löwen" (The Lion's Den) – wanted to sell his shares for a symbolic euro.
The provisional insolvency administrator, Dr. rer. pol. Max Liebig, a business graduate, will first gain an overview of the company and examine the options for continuing operations. This will also include discussions with potential buyers.
Katharina Mayer is confident:
"The ideas behind Kuchentratsch are entrepreneurial and social. They enable retirees to share their knowledge, earn extra money on top of their retirement, and make new, resilient contacts, creating a true community. In a time of skyrocketing prices, this is even more important. That's why it's my goal to continue Kuchentratsch. For me, Kuchentratsch is so much more than just a company that bakes cakes. Kuchentratsch is about people, about intergenerational togetherness."
