Friday, 11 December 2015
Crumpet Cashmere liquidation - A tale of two goats.
Crumpet Cashmere was an accident waiting to happen.
The founders had already gone bust once owing £750k, done a prepacked deal which stated they were not be directors of the new Crumpet Cashmere, made themselves directors, raised money on Crowdcube and then only months later have gone bust again owing over £400,000 to creditors and shareholders.
So to date these two have cost almost £1.2m in terms of lost money in the space of 2 years. It would have been cheaper to pay them to stay at home.
As a final ironic twist Crowdcube are listed in the o/s creditors, owed a sum of £3,500.There is no money to pay anyone.
So why did so many people back these two? Beats us although it has a lot to do with the the way the pitch was allowed to be portrayed by Crowdcube - the previous failure was for example not mentioned until we brought it up in the forum.
It is an all too familiar story.
PS - you can expect this story to run as we find out just what has happened to Crumpet and its shareholders and creditors. Expect the unexpected!