Saxony-Anhalt’s economy during Corona: Founder’s dream ends in bankruptcy


 The refore, the fact that the federal government has suspended the obligation to file for bankruptcy does not help the small company. Because this continues to apply to all those who are not entitled to any help or if it would only help them “insufficiently”.

How in the end the bank sealed the end of the company

© The  house bank pulled the plug for them. At the beginning of the crisis, she agreed to suspend repayments of the loan for a few months. When Ehrling asked at the beginning of November whether the company could be accommodated again, he was turned away. © The  bank had long suspected that 2021 would not be a normal year for the events industry either. One day later, the bank canceled the loan without notice. © The  following week, she seizes the account. That’s what Ehrling says.

From one day to the next, Ehrling’s and Schiefke’s company is in ruins for 75,000 euros. One year after it was founded, it was clear: Event On has no future. Ehrling filed for bankruptcy. On January 27, 2021, the local court opened insolvency proceedings. A Magdeburg lawyer now administers what was left. © The  company is officially history.

Are the federal government’s measures useless? In November, the month Ehrling filed for bankruptcy, there were more than a quarter Less Corporate insolvencies than a year earlier – says the Federal Statistical Office. So at least there was no big company dying in Germany; for the time being.

Vincent Schiefke currently still lives in Düsseldorf, where he added a dual degree in communication management. In 2022, he actually wanted to join the company in full in Magdeburg. Nothing will come of it now.

Torsten Ehrling is a certified sustainability manager. “Nobody can take that away from me,” he says. His family helped him over the winter. He is now doing an internship at another company, in a completely different industry. He doesn’t believe that he will organize events full-time again.

He is disappointed with politicians and would have liked to have provided even more help for start-ups and the event industry and communicated decisions more reliably. Ehrling and Schiefke actually wanted to be “ahead of politics” with their sustainable event agency.

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SaxonyAnhalts economy Corona Founders dream ends bankruptcy


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