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A media company co-founded by Luis Ruelas, husband of Teresa Giudice, has filed for Chapter 11 bankruptcy.
Just months after the 50-year-old Real Housewives of New Jersey husband was called out over a $300,000 debt allegedly owed to the party planner who threw a launch party for another one of his business ventures, a live-streaming platform called Vinivia, Digital Media Solutions Inc. (DMS) is struggling to stay afloat.
According to a September 17 report from Hello Partner, via Reality Tea, DMS, which specializes in pairing companies with advertisement opportunities, filed for Chapter 11 bankruptcy to restructure its business and “position itself for future growth.”
In his Instagram bio, Luis currently features a nod to the business, confirming himself as the “[co-founder] of Digital Media Solutions.” However, while he once served as the Executive VP of Business Development, his role today is unclear.
As Reality Tea noted, Luis had allegedly previously been asked to “step down” from the company due to the drama of RHONJ.
The report went on to say that executives connected to DMS have expressed confidence in their company’s trajectory, noting that despite being in an asset purchase agreement, the business will continue to operate as it attempts to reorganize for a better future.
Luis has faced a number of financial challenges in recent years, including lawsuits and claims of overdue bills, most recently pertaining to Vinivia.
As RHONJ fans may know, Luis went public with his latest business venture, Vinivia, earlier this year, telling TMZ that the platform would be launched in April for creators around the globe. Around the same time, Teresa and her daughters stepped out at the launch event for the project to show their support.
The Real Housewives of New Jersey is on pause ahead of season 15.
