Redchurch Brewery has raised £895k on Crowdcube since 2016. Projected profits for YE June 17 have turned into large losses.
It's a story you will all be familiar with. Expectation management gone missing in action. But it keeps on and on and on happening. Promises of deals with Tom Dick and Harry have not resulted in the revenue numbers being catapulted into the stratosphere. Maybe the tunnels all proved to be dead ends. The company was flushed at the year end with NCLs sitting at minus £400k. It will need more cash. Heard it all before?
It is really very disappointing.
Their prediction during the recent campaign were (-365,946) for jul2017-feb2018. It seems pretty close. (I am sure that during their first campaign the figures looked differently, though) :-)
ReplyDeleteThe beer is actually very good and they are selling in some good locations - waitrose, national theatre etc. I am concerned about the management of the company and whether they have sufficient expertise and acumen to make RB the success that the product deserves. They struggled to get the funding they needed on their last CC pitch and the rewards they have given away on all their pitches seem excessive, and must have been a logistical nightmare to send out. I hope they can turn it round, not really for my meagre investment but more so that I can keep drinking their beer.
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