Monday, 23 May 2016

Solar Cloth gets more mysterious

There is something very odd about the demise of Solar Cloth.

In their Crowdcube raise of £960k they had one investment of £500k by a person named as Charles Shale at CH. Who is he? Why would anyone invest £500k in this venture without at least taking a seat on the board?

Recent announcements show that SC had been reorganising. There were press releases about a merger with Base Structures and the original CEO stood down to be replaced by a new one as recently as February this year. Why?

RBS had given them an award - but then that's RBS for you.

To spend all the money they raised, which was £210k more than they needed, in just over 12 months is all a little odd.  

1 comment:

  1. Have you seen this? http://www.businessweekly.co.uk/news/cleantech/solar-cloth-company-set-sale-out-administration

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