Auctionata Paddle8 files for insolvency to restructure business

The online auctioneers Auctionata and Paddle8, which merged last May, have filed for insolvency to restructure the business. The Berlin-based parent company announced on 19 January that it is holding several active conversations with investors about future funding for Auctionata and a possible buy-out of Paddle8.
 
Auctionata will continue to run auctions and sell merchandise under a special protection regime, according to a statement. Paddle8 operations are not subject to the insolvency p