Creative tech firm Talenthouse is close to failure as debts mount
A tech company that claimed to “democratise creativity” by matching artists with design briefs for major brands is on the brink of collapse after being issued with a winding-up petition over unpaid debts.
Talenthouse, whose clients have included Netflix, Coca-Cola, Nike and the UN, is facing legal action by creditors in the UK and is understood to have laid off most of its workforce, with top executives also departing its parent company in recent days.
Its parent company, Talenthouse AG, has also announced the closure of four other subsidiaries saying they cannot afford to pay outstanding bills, including staff wages.
The news follows months of financial turbulence. In February, the Observer reported how contributors to the Talenthouse digital platform had not been paid thousands of pounds for projects completed months earlier. Some had worked on high-profile briefs, including designing posters, ad campaigns and social media posts for clients such as DreamWorks, Nationwide and Snapchat. At the time, Talenthouse co-founder Roman Scharf apologised and said the firm was “working on a long-term robust solution” that would benefit creatives and be announced soon.
But two months on, parent company Talenthouse AG has announced a major “restructuring” including the closure of the UK entity through which many of the artists were contracted.
Talenthouse AG, which is listed on the SIX Swiss stock exchange, said a “strategic review” had revealed “substantial outstanding liabilities” at the subsidiaries including salary and tax payments that could not be covered. “The company has decided to fund these entities no longer,” it said in a statement for investors on 21 March.
The news leaves many Talenthouse suppliers, contributors and staff in
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