Lesara files for insolvency

Berlin-based e-commerce company Lesara has filed for insolvency, after failing to secure a €10m bridge financing round from existing investors. The move came as a shock to some considering the startup had just opened a new logistics centre in Erfurt and that it raised €30 million in its latest funding round in July.

The company filed for insolvency proceedings at the district court of Berlin-Charlottenburg on Friday.

Lesara, which employs more than 350 people in Berlin, Erfurt and Guangzhou, China, said no jobs will be lost and that salaries will be initially covered by Germany’s Federal Employment Agency. Even after filing for insolvency, Lesara will continue to operate as usual, a spokesperson for the company said. It hopes to be rescued and continue its expansion in the future, finding a sustainable solution for the business.

Founded in 2013 by Roman Kirsch, Matthias Wilrich and Robin Müller, Lesara is a fast-fashion site using technology to identify new trends and to quickly deliver new products from Asia to customers throughout Europe in 10 days. In four years, the e-tailer launched in 24 European countries with eight different languages.

Lesara files for insolvency

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