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Civey boss Mütze: Jovanka Porsche as a new investor?

Photo: Christophe Gateau / dpa

A protective shield procedure under insolvency law is intended to avert an impending insolvency - and to continue the company: The Berlin market and opinion research company Civey has decided to take this step under self-administration.

For the duration of the proceedings, Martin Schoebe from the consulting firm Greenmarck was appointed as general representative and Rüdiger Wienberg from the law firm hww as administrator, Civey said.

However, it was said that the move was not due to financial problems, but rather to the entry of new investors.

There were differences of opinion within the existing circle of shareholders about the company's future strategy.

That is why the founders and managing directors Janina Mütze and Gerrit Richter agreed with their shareholders to reorganize the structure and finances.

The protective shield procedure was initiated for this purpose.

International orientation planned

Managing director Mütze said: "Civey has grown rapidly in recent years." The new combination of investors is intended to finance "further, including international, growth and the development of new products."

The second largest shareholder to date, Patrick Hable, told the "Handelsblatt": "The reorganization of the group of shareholders that has now begun is the right step at the right time." According to the newspaper, the previous shareholders also include the company Trafo of the former "Tagesspiegel" publisher Sebastian Turner .

SPIEGEL, in turn, works with Civey to create opinion surveys.

According to Handelsblatt, Civey has already won over a new investor in Jovanka Porsche, the wife of Porsche heir Hans Porsche.

“For me as an investor, two things are most important when it comes to investments: a groundbreaking business model and an innovative team of extraordinary talents,” she is quoted as saying.

That is the case with Civey.

According to Civey, business should continue to run as usual during the reorganization phase.

All ongoing projects would continue.

For self-administration protective shield proceedings, companies must take action at an early stage and an expert must provide a positive continuation prognosis.

Plenipotentiary General Schoebe is quoted by Civey as saying: "I have rarely found such good conditions for quickly passing through a protective shield."

Civey collects data for its customers – including large companies and media companies – in an online panel.