Million-dollar bankruptcy of a well-known probiotics start-up

“Founded in 2018, SlimBiotics® was born from the discovery of Kimere – an indigenous fermented pearl millet grain rich in powerful probiotic strains that support metabolic health and weight management,” the homepage states. “We have harnessed the power of these plant-based probiotics and introduced the world to a new class of biotics – derived from nature, science-based and designed to help people take control of their health. With SlimBiotics®, Mother Nature reveals her secrets – offering novel microbes and micronutrients that have the potential to transform human health like never before.

And it continues. “From grain to culture, SlimBiotics® has its origins in the pearl millet pumpkins of the Mbeere people of Kenya, where centuries-old kimere fermentation processes produce powerful lactobacilli. We have incorporated this ancient knowledge into the world’s first plant-based pro- and postbiotic blend designed to improve modern metabolic health.”

About the assets of the SlimBiotics GmbH Bankruptcy proceedings were opened at the Vienna Commercial Court on Wednesday. Günther Moser from the Austrian Creditreform Association confirms this to KURIER. An employee is affected.

Managing directors and shareholders

Founded in 2019, the company developed plant-based probiotics based on fermented pearl millet from Kenya. The Viennese art patron and collector appears in the company register Helmut Essl with 48.4 percent as the main shareholder and managing director. Other investors include Liechtenstein Alex Schütz Family Foundation (43.3 percent) and the Graz venture capital firm eQventure GmbH (4.79 percent).

Causes of bankruptcy

The debtor’s representative cites a bad debt of around 500,000 euros against the wholly owned subsidiary SlimBiotics Inc. in Los Angeles as the main cause of the insolvency. The crisis in foreign trade and the US government’s customs policy had a negative impact. In addition, there were massive cost increases, which resulted in the loss of urgently needed liquidity.

The debts

The liabilities amount to around 1.74 million euros, affecting 25 creditors

No renovation

According to Creditreform, no restructuring is currently planned.

By Editor

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