The biggest “Lion’s Den” hit of all time has burst! The “Social Chain AG” filed for bankruptcy today. After 634 days, the joint adventure of the “Lion’s Cave” colleagues Ralf Dümmel (56) and Georg Kofler (66) is over. The latter resigned his chief post at “Social Chain” with immediate effect.
Ralf Dümmel and his DS Group remain unaffected by the insolvency. As BILD learned from insider circles, the investor is even working flat out in the background to undo the deal and turn back time.
Because: According to BILD information, Ralf Dümmel lost more money than he received for his company shares. Gambled.
Dümmel is one of the investors in “The Lion’s Den”
Dümmel explains in a statement:
“It is part of entrepreneurship that there is not only positive news. Together with the employees and shareholders of the DS Group, I tackled a major project at the end of 2021: On the one hand, the merger with Social Chain AG was a great opportunity to transfer the DS Group, which was fixed on stationary trade, into the social commerce world. On the other hand, the merger also brought with it the challenge of integrating a Hanseatic family business that had grown over fifty years into the corporate culture of a listed digital company.”
TV colleagues Ralf Dümmel and Georg Kofler became business partners in October 2021. Dümmel sold his company “DS Produkte” to Kofler. He is the main shareholder and chairman of the supervisory board “Social Chain AG”, which is behind the beauty fair “Glow”, among other things. Purchase price: around 220 million euros. Around a quarter of the sum is to go to Ralf Dümmel.
They had big plans together: “We are stepping in to help shape the new world of brands and retail,” was Kofler’s announcement.
Looking back: Kofler (left) and Dümmel sealed their collaboration with a handshake
And Dümmel was also very sure at the time: “For the DS Group, the deal is a bridge to the future. We are pleased that we are gaining new strengths in addition to our distinctive trading competence. Together we will show how a perfect interaction between retail and social commerce can be achieved.”
The company later went public, only to rush to the basement during Corona after the share had soared (in November 2021 it was 57 euros)! In addition, there was always trouble, for example with the financial supervisory authority Bafin, which Social Chain AG recently reprimanded for an error in the annual report.
What’s next? As BILD learned, Kofler and Dümmel are still in close contact. According to reports, Dümmel will remain with the DS Group.