The Berlin-based music platform Idagio, which entered the streaming market around 10 years ago, has been undergoing insolvency proceedings which are now announced as successful.

According to a press release, the Berlin Charlottenburg Court will shortly lift the proceedings after creditors approved the company’s proposed insolvency plan. This ensures both the continuation of IDAGIO’s classical music offering and the preservation of jobs.

Despite the insolvency, business operations continued without interruption throughout the entire restructuring process.

Following the completion of the insolvency proceedings, Berlin-based music entrepreneur Ki Soo Lee and his business partner Jim Chang from Singapore will take over the company.