Blog posts tagged with: administration

Full Clear becomes invisible and tells investors it's time to close down.

Nothing very Full or Clear here. 377 Crowdcube investors gave this company £248k in January 2018. Now just 16 months later the Directors (we use the term loosely) are closing via a VCL. 

Zing Zing CVA is passed by Creditors so Crowdcube investors are stuck.

Yet again Crowdcube investors are treated like door mats. Zing Zing raised £1.5m in 2016 and then another £1.2m in 2017. Now Creditors have agreed a 4 year CVA which leaves the Crowd holding onto...

Filmore and Union is the latest Crowdcube success to join the scrap heap.

On, on, on we go, as if everything is fine. But it is not. As yet another Crowdcube success, the cafe chain, Filmore and Union, goes into administration. It used Crowdcube to take £860k off punters...

Redchurch - Red Faces. Debts to HMRC of almost £950k.

Redchurch Brewery's collapse is being blamed by management on the departure of their Head of Sales. The fact that they owed HMRC £950k and were under threat of imminent action might also have...

Equity Crowdfunding is embarrassed by Loot administration

Another Crowdcube brewer runs out of hops

Following on the mess at Hopstuff, The RedChurch Brewery Ltd has gone into administration taking all its investors with it. This is not a place they wanted to go. It certainly will not deliver the...

Fund on Crowdcube wait six months and then close with massive debts. Walk Away. A Classic from Country Matters

This one is hard to believe. Only months ago, the Directors of Country Matters were on Crowdcube telling everyone what a great investment this was. In January 2019 they went into administration...

Another Crowdcube success story melts away as Fantoo goes into administration

Reasons given for this failure included the fact that the product Fantoo were selling was never completed. Bridging that gap!

Our Insolvency Laws are not fit for the 21st Century

The golden rule for administrations and liquidations is that the insolvency practitioners must maximise the return from the sale off the failed company's assets, for creditors. In a age when the...

White Car, Black Car, White Car, Black....No Car as it comes off at the first corner, having taken £822k off Crowdcube investors in 2017.

A failure to persuade anyone else to invest in White Car, is the given reason for this Crowdcube business' failure. Or in plain English it was a clapped out old banger with no engine. 

Labrador used Crowdcube to raise £890k in 2018 and closes in 2019. Kennomeat!

Extraordinary. Only a few months ago Labrador were issuing new shares and taking on new directors. On 25 March 2019, they applied to go into administration.

Crowdstacker take another hit as Authentic AleHouses calls in the administrators with a £6.4m oustanding P2P loan

So following the disaster with Burning Night, Crowdstacker investors are now facing a £6.4m hole as Authentic Alehouses collapses. And AA were set up by the same team as Burning Night.

Seedrs' Eat Square pack up and hand the keys to the Admin Boys

Seedrs had Eat Square on their site raising cash recently. Now Eat Square has gone into administration. The Gazette for this was posted a while ago. It does beg the question  - did Seedrs...

Fantoo da loo and Goodbye. Another Crowdcube Alumni hits the rocks. We did warn you.

A hommage to the recent departure of The Prodigy lead. Beats talking about yet another Crowdcube failure.

A large Crowdcube success is about to go into Administration proving yet again that their model does not work.

We wont reveal the name just yet as there is still a 1% chance that more money maybe pilled in to rescue it. But in our opinion people are not that stupid.

Bar operator Burningnights to be bought out of administration possibly saving some of the Crowds £7.5m

Following our story of the administration in October 18 of Burningnight, light appears at the end of the tunnel, as a northern based restructuring company, Access Commercial Finance, has offered to...

Crowdcube's NY starts with a Bang and Whimper as I Love Gorgeous piles into the administration buffers

As yet another expensive flop on Crowdcube heads out of the door to oblivion, we ask if Crowdcube's 1 star rating on Trust Pilot is justified. 

Crowdcube's Skunk Works wipeout looks like a stinker.

In March 2018, Skunk Works Surf Co managed to relieve Crowdcube investors of £372k. In November of the same year they closed down, in administration with what looks like a right mess. 

Financial Ombudsman and Crowdcube's response to the Emoov Fiasco - Nothing to do with us mate

This is a disgrace but it is also exactly what we predicted Crowdcube would say. Thank you to the investor who forwarded this and who is now a member of ECF.Buzz - so it wont happen again. Shame on...

Inspiral Visionary Products enters administration after raising £250k on Crowdcube

It seems unlikely that Crowdcube are ever going to break the cycle of funding companies that a few years afterwards go bust. Until, that is, they change the way they select them.