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Lakes Distillery not in the right spirit with new Down Round.

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The Lakes Distillery plc raised £1.6m 12 months ago on Crowdcube. It had already raised £1.5m the year before. Valued last year at £44.38m pre money. Just this month they have privately raised a further £1.6m on a valuation of just £36m. So what's happened to those plans?

If you Google The Lakes Distillery, you find a barrage of hits for their listing at the end of 2017 with M&S. This occurred just before the Crowdcube raise; which was a fantastic success. We searched M&S today for their product but drew a blank.

Companies try not to have down rounds for obvious reasons but this one is significant. Accounts for the company are due out this month so it will be interesting to see how they relate to the ones used to entice investment last year.

Here's hoping it is good news. Thanks for the heads up go to anon.

Saturday June 1, 2019

Hardman and Co’s Brian Moretta in conversation with ECF Buzz Founder Rob Murray Brown on start up investing, equity crowdfunding and what’s a good read.