Judicial authorities in Munich are reportedly carrying out an investigation for fraud against Georg Kofler, a German entrepreneur who was appointed CEO of 21sportsgroup after acquiring a stake of 40 percent in the German multi-channel sports retailer along with other media investors in mid-2018. Kofler is said to have promised in 2018 to merge the now insolvent 21sportsgroup with his own Social Chain Group. The merger never took place, leading first to the bankruptcy in February 2020 of Planet Sports, the action sports subsidiary of 21sportgroup, followed by the parent company’s bankruptcy. Reportedly, Social Chain, a new company that took over the assets of the Social Chain Group, recently claimed that the merger was made impossible by the fact that 21sportsgroup had failed to develop into a company that could be traded on the stock exchange. Eventually, Planet Sports was taken over last May by a German-Swiss investment company, Invision. Prior to the move, 21sportsgroup had decided to close its 21run website.