Exactly….a lump of coal for Christmas.
I can’t remember but is there a successful exits thread?
“But the plans were on display…”
“On display? I eventually had to go down to the cellar to find them.”
“That’s the display department.”
“With a flashlight.”
“Ah, well, the lights had probably gone.”
“So had the stairs.”
“But look, you found the notice, didn’t you?”
“Yes,” said Arthur, “yes I did. It was on display in the bottom of a locked filing cabinet stuck in a disused lavatory with a sign on the door saying ‘Beware of the Leopard.”
I made one ages ago, it doesn’t get as much traffic as this one. maybe there’s a lesson in that
Now officially confirmed that there will be no returns for investors.
Wild Beer Co…On Friday, Somerset brewer Wild Beer Co, collapsed for similar reasons. The company instructed administrators after suffering from soaring costs for, among other things, energy and the carbon dioxide used in the beer. The company, founded in 2012 by Andrew Cooper and Brett Ellis, sold its pale ales, lagers and stouts in supermarket chains Waitrose and Morrisons, and also has bars in Bristol and Cheltenham.
A spokesman for the administrators, Undebt, said they were hopeful of interest in acquiring the business given Wild Beer’s strong brand.
In 2017, Wild Beer raised £1.8 million on Crowdcube from more than 1,900 investors at a £25 million valuation, meaning the average punter invested more than £900. They are now likely to be wiped out.
Wild Beer did not respond to requests for comment.
Up to 7 now. 7 failures in three weeks! And only a few have bothered to tell investors directly.
Just got this investor update for NowRX…
Dear NowRx Investor/Shareholder,
You may have seen our recent announcement about Alto Pharmacy acquiring the business of NowRx.
We want to provide the following additional information to help answer some of the questions that have been recently raised via email, text and social media.
To further clarify, effective November 30, 2022, Alto Pharmacy acquired patient files for NowRx’s California business. And, effective December 1, 2022, Capsule acquired patient files for NowRx’s Arizona business.
Following an exhaustive capital raise process, NowRx reached a point where it could no longer adequately serve our patients given the resources available, and a distressed transfer of the patient files became necessary in order to satisfy regulatory requirements with the California and Arizona Board of Pharmacies, as well as the DEA.
Unfortunately, the current economic climate (war in Ukraine, high inflation, continued supply chain issues, Fed rate hikes, substantial loss of value in NASDAQ, etc) significantly impacted NowRx’s performance and ability to raise additional capital to support its business, ultimately requiring NowRx to take steps to ensure that the needs of its customers would continue to be served without disruption.
NowRx, Inc. still owns further assets, beyond the patient files previously discussed, including but not limited to furniture, equipment, vehicles, and our proprietary software (QuickFill), which we are actively trying to sell.
In the coming weeks, there will be further communication regarding the results of the aforementioned actions, additional financial information, as well as information about your shares.
We appreciate your continued patience throughout this process.
@TickTock Not great considering they are supposedly one of the highest raises on SeedInvest. I thought these guys would get bought but not at fire sale prices.
@Chrislewisuk Yep, it’s a sore one alright. I had big ambitions for this one and was sitting on a huge paper gain. We are all really starting to see just how vulnerable many of these start ups really are and operating on vapour and the crowd’s hard earned. Incredibly frustrating but also huge opportunities for companies with strong balance sheets and funding sources to gobble up those that are struggling and customers from those that have failed….
It sucks but I’ll take these hits on the chin, learn and go again stronger.
Good luck everyone
There is a bit more information on Wild Beer Co in ‘Treated like a chump’: Wild Beer Co’s collapse leaves bitter taste for backers | Food & drink industry | The Guardian from Dec, 17th. The company promised to use raised funds for a brewery, but ended up buying equipment instead.
Can anyone help me understand what a first gazette notice means for Crowdcube Nominees? Ar my shares in Freetrade and other investments i have safe? Any help in understanding this would be appreciated.
This was the result of a delay in the confirmation statement. You’ll see that the strike off action has been discontinued. There’s no impact here on any shares held in Freetrade via Crowdcube nominees. Just as a reminder, only investments bought in the September 2022 round are held via this entity.
I like how the Crown can just claim anything
Freetrade Crowdcube quickly responded to the matter but should probably been on the ball more.
It’s Crowdcube not Freetrade.
Sorry. Yes typo on my part
Thank you for the reassurance!
I don’t suppose you have any good news regarding Freetrade,anything will do.
That’s quite funny that everyone’s shares would go to the King if they left it 2 more months . It’s like the accounting equivalent of forgetting to renew a domain name / SSL certificate.