THE ART NEWSPAPER | Anny Shaw:
The online auctioneer, Auctionata Paddle8, which merged last May, has filed for insolvency to restructure the business. The Berlin-based parent group announced on 19 January that it is holding several conversations with investors about future funding for Auctionata.
Meanwhile, Paddle8 announced it has found an investor to buy back the New York-based company, which is a separate entity to Auctionata. Paddle8’s operations are not subject to the insolvency proceedings. Auctionata will continue to run auctions and sell merchandise under a “special protection regime”, according to a statement… Read more
Image: The merged management team of Paddle8 and Auctionata