Rumors of the Munich start-up cake were on the verge of collapse at the end of July – now it seems to have been saved. Many new people are being sought for the comeback.
At the end of July, the company filed for bankruptcy proceedings at the Munich District Court. “My heart is broken,” founder Katrina Mayer wrote on LinkedIn at the time. Now that sounds very different. Also on LinkedIn was the following: “We’ve had an exciting time – now there’s hope for our bakery. With a strong partner, we want to start over and bake delicious grandma cakes.
Who this partner is remains a mystery. But two weeks ago, bankruptcy administrator Max Liebig expressed his hope for a possible rescue in Munich TZ: “Accordingly, there are a number of compelling offers even to take one,” he said. “Recipe for rescue: the startup founded in 2014 needs to be given a strong partner that accepts the consequences of the corona pandemic and implements new ideas,” said Liebig.
Cake business and social enterprise
Corona hit Meyer’s company hard. She runs a bakery in Munich where more than 50 seniors bake a variety of cakes that her customers can order through her online shop Cake Talk. Since 2019, Kutentratsch has been offering baking mixes there. The cake business is only one part of the original idea of the founder, the other, important and in fact the motivation to establish the company is the opportunity for the elderly to exchange ideas, “mom”, search for work and the opportunities they need.
According to their own words, Cake Rumor had a revenue of more than 800,000 euros in 2021. There were plans to move into a larger bakery with an adjoining cafe – but these fell through due to financial gaps that could not be bridged even by a fundraising campaign. Previous investors, including DHDL lion Carsten Maschmeier, seem reluctant to close the loophole. “Kuchentratsch GmbH was unable to successfully complete follow-up financing for planned and important investments this year, which resulted in a liquidity bottleneck,” says a press release from July.
The women of Munich have now conquered all of that. They want to start again with a new and bigger team from October, the startup announces.