The talent platform for the creative community, Talenthouse AG, has entered into a term sheet with investors to provide short-term liquidity in order 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.

The planned restructuring measures include the conversion of debt into equity in order to strengthen the balance sheet, the completion and audit of the financial statements for the past financial year in order to maintain the company’s listing, and a request for a provisional moratorium in order to find a solution with the remaining creditors and to avoid bankruptcy proceedings.

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 that they had not been paid for the work they had done. Later in the month, the company announced a strategic review and the departure of the company’s CEO and Chief Corporate Development Officer. The company has now been served with a decision by the Regulatory Board of SIX Group AG to delist its registered shares. The decision is not legally binding and can be appealed before the Appeals Board within 20 trading days. Talenthouse plans to appeal the decision and to reverse it.

Talenthouse is registered in Switzerland but is operationally headquartered in London. The company was founded in 2009 and offers its services worldwide in seven different languages. The company has pursued an aggressive acquisition strategy with the most recent acquisition in April 2022 of Creative Commision, a London-based talent platform for creative freelancers to the music industry.

Talenthouse is asking all shareholders, creditors and other stakeholders to support the planned restructuring measures. Without such support the threat of bankruptcy is imminent.