Tuesday, 5 December 2017

Grubklub file further large losses

Grubklub raised £290k on Crowdcube in 2015. The latest accounts, filed 4 months late, show further large large losses against projected profits.

It is getting quite hard to make the same story sound interesting. But here goes.

We wrote a short piece about these guys and their creative use of figures here

Grubklub were supposed to making profits of around £210k for their last filed year. Instead they reported losses of £175k. Further equity raises have caused dilution. 

At some stage we suppose that Crowdcube investors will add 2 and 2 together and get 4 instead of £10m each.

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