- Restaurant chain Chilango raised money through mini-bonds this year**
- It initially intended to raise just £1m but ended up with 3 times as much**
- Mini-bonds are unregulated and unprotected high-risk investments**
- According to reports the company has brought in a restructuring firm**
- It said they would help to ‘assist on long-term planning, options and strategy’**
Chilango shares were my first foray into crowdfunding.
So, will investors be getting a or a ?
We will see soon I am sure
Hence my reluctance in investing in unsecured bonds.
I invested in Chilango (equities) a while ago. Need to check my certificates if I can claim loss-relief.
Meanwhile Chipotle (CMG) recovered after the e-coli bear market.
Email received today about the Chilango CVA - need to review the detail but I guess another where EIS loss relief may not be available - 7 out of 19 of my Crowdcube investments down the tubes!
Why would EIS loss relief not be available?
I understood this was only available if the company ceased trading completely, not restructured; however I need to do some further research on this.
Did any other Chilango investors manage to claim EIS loss relief?
Appears that the company was sold to RCDP Investments 4 Limited - whoever they may be. No record on Companies House.
The Administrators ‘Notice of administrator’s proposals’ was incorrect - the buyers name was RDCP Investments 4 Ltd who changed the name to Chilango Ltd on 09 Sep 2020
The last comms I received is from WCS Nominees back in August but nothing since then. I doubt there will be any residual value for equity holders?
Mucho Mas is still showing as in Liquidation -
22 Sept 2021 - Appointment of a voluntary liquidator
Any thoughts from other Chilango/Mucho Mas investors?
Also wondering when it would be appropriate to write off as tax loss? Any pointers appreciated
09 Nov 2022 - Liquidators statement if receipts ad payments to 02 Sept 2022 so still not dissolved yet.