Spark Networks begins restructuring proceedings in Germany

By Sarah Lizee

Olympia, Wash., Oct. 10 – Spark Networks SE started proceedings in a German restructuring court and filed a restructuring plan, according to a press release issued Tuesday.

Jones Day and Brinkmann & Partner Rechtsanwalte are the company’s proposed counsel.

As previously reported, Spark entered into a forbearance agreement on March 29, 2023 under its $100 million term loan agreement with MGG Investment Group LP as administrative agent.

The agreement granted forbearance with respect to the company’s receipt of a going-concern opinion on the condition that Spark retain a financial adviser.

The forbearance had an original termination date of May 15 and was extended several times.

Spark is a Beverly Hills, Calif.-based online personals services provider.

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