BLOOMBERG LAW – Spark Networks Services GmbH, which operates platforms like Christian Mingle, JDate, and Zoosk, has filed for Chapter 15 bankruptcy in the United States to have its German insolvency proceedings recognized. The filing follows a failed restructuring attempt in 2024 and the withdrawal of funding by its main lender, MGG Investment Group. The company intends to sell its assets while continuing to operate during the process.
VERBRAUCHERSCHUTZFORUM – The Charlottenburg District Court has placed Spark Networks Services GmbH, a Berlin-based online dating and matchmaking provider, under preliminary insolvency administration after the company applied for insolvency due to financial difficulties. As of 16 January 2026, enforcement actions by creditors have been halted, and the company may only make dispositions with the approval of a court-appointed administrator. Dr. Philipp Hackländer has been appointed to oversee management, secure the company’s assets, and assess whether sufficient funds exist to proceed with formal insolvency proceedings. The decision marks an interim phase in which it will be determined whether the business can be restructured, continued, or must enter full insolvency.
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LINKEDIN – Zach Schleien, now VP of Marketing at Spark Networks, has announced that Filteroff, the video-first dating app he co-founded, has been acquired by Spark Networks, home to platforms like JDate, Christian Mingle, and Elite Singles. Launched just before the pandemic, Filteroff offers a healthier, more genuine way for singles to connect via video, avoiding the usual swiping and texting culture. With millions of users globally embracing this approach, the acquisition marks an exciting new chapter for the app under Spark Networks' umbrella.
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LINKEDIN – Erin de la Mare has been appointed as the new General Counsel at Spark Networks after her 15-year tenure at Jones Day.
BUSINESSWIRE – Spark Networks SE, a social dating platform, announced Adam Medros as the new CEO, effective February 19, 2024. The company also appointed Bill Alena as Chief Revenue Officer, Suresh Dhandapani as Chief Product Officer, and Jessica Moffitt as interim Chief Financial Officer, alongside Tobias Plaputta, Chief Technology Officer. Laura Marcero has been named Chair of the Board of Directors. The new leadership team aims to drive growth and innovation in Spark's portfolio of social dating apps.
OPW – Bill Alena has joined Spark Networks as the new Chief Revenue Officer (CRO), bringing with him a rich background of over twenty-five years in the Dating and Social Discovery sector. Prior to this role, he served as the Chief Investment Officer at Social Discovery Group, where he was a specialist in Dating and Social Discovery, leading corporate development, investor relations, and the corporate venture capital fund.
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WIRTSCHAFTS WOCHE – The MGG Investment Group has acquired Spark Networks, a German online dating provider, for just over 164K euros, becoming its sole shareholder. This acquisition, sanctioned by the Charlottenburg District Court in Berlin, led to a total loss for the current investors of Spark Networks. Spark Networks, offering niche online dating services such as Edarling, Elitesingles, and JDate, has faced financial difficulties in recent years, with losses exceeding $150M since 2020, partly due to cyber-attacks and fraudulent profile registrations. The company's stock, once priced at 14.80EUR on NASDAQ, was delisted at 13c in September 2023 due to impending insolvency. Facing impending insolvency, a legal submission to the Charlottenburg District Court proposed using the StaRUG law for corporate stabilization and restructuring. This law, introduced in 2021, allows companies to avert bankruptcy through restructuring, even if it adversely affects some creditors or shareholders.
by Florian Weyand
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WIRTSCHAFTSWOCHE – Shareholders of the German digital company Spark Networks face potential total loss due to a restructuring plan involving the US hedge fund MGG Investment Group. The plan, facilitated by Germany's StaRUG law, aims to save the financially troubled company outside of bankruptcy proceedings. If approved, MGG would acquire all shares at a nominal price, raising concerns among shareholders about deliberate mismanagement and forced expropriation. The situation reflects broader apprehensions about the StaRUG law's implications for investor rights and the growing trend of restructuring processes that sideline small shareholders in favor of major creditors.
LAW 360 – Spark Networks SE, the parent company of Zoosk, is taking significant steps to restructure its finances due to recent challenges. Initially, the company filed a restructuring plan in a German Court under the StaRUG law, a framework for stabilizing companies in financial distress. Subsequently, to align this process in the U.S., they filed a petition under Chapter 15 of the U.S. Bankruptcy Code. This move is not a typical bankruptcy but a strategic effort to reorganize and stabilize the company's finances globally. The aim is to ensure smoother operations and financial health across both German and U.S. jurisdictions.
PRESS RELEASE – Spark Networks SE is now trading its American Depositary Shares on the OTCQX Best Market with the symbol LOVLY. This means its shares won't be traded on NASDAQ anymore. OTCQX is a market for trading certain types of securities, mainly for established companies. Spark Networks operates dating apps like Zoosk, EliteSingles, and Christian Mingle. The company is based in Berlin, Germany, with offices in New York and Utah.