The company co-founded by Luis Ruelas announces its bankruptcy (Chapter 11)

The future doesn’t look very bright for the media company Luis Ruelas co-founded. Digital Media Solutions Inc., where Luis served as executive vice president of business development, filed for Chapter 11 bankruptcy. However, the company’s leaders say they are confident in their trajectory.

The news comes nearly two years after Luis admitted that she was asked to “step aside” from the company amid all the Real Housewives of New Jersey drama. We don’t really know if he really left. The business is still listed in his Instagram bio. Today, even more changes are in store for the company…

DMS, co-founder of Luis Ruelas, tries to stay afloat through restructuring

Digital Media Solutions, or DMS for short, provides advertising solutions to businesses in various industries. According to Hello Partner, they recently filed for Chapter 11 bankruptcy as they attempt to restructure their business to “position themselves for future growth.” This is the type of bankruptcy that companies file when they desperately need to reorganize.

The company will continue to operate, but it has entered into an asset purchase agreement to help it stay funded. Meanwhile, Luis watches all this unfold alongside his wife, Teresa Giudice.

In case you haven’t been following, this isn’t the first of Luis’ companies to file for bankruptcy. Another of his companies, Produce Depot, filed for bankruptcy in 2022. This was around the same time he was sued for six figures over unpaid bills from the company.

These days, Luis apparently works for a company called Vinivia. It’s a live streaming platform that Luis believes will one day dethrone TikTok as the go-to app. His track record of starting businesses might suggest otherwise.

TELL US – ARE YOU SURPRISED TO HEAR ABOUT THE FINANCIAL STRUGGLES IMPACTING THE BUSINESS LUIS CO-FOUNDED? DO YOU THINK THEY MADE A MISTAKE BY LETTING LUIS GO?

Company co-founded by Luis Ruelas announces Chapter 11 bankruptcy appeared first on Reality Tea.