In an acutely embarrassing letter to Sugru shareholders, the Founder, Jane Delahanty, tries to dress up as a pixie bringing good news.
As with so many Crowdcube disasters, the Sugru story is rapidly taking on the elements of a farce.
The letter sent to shareholders starts of by telling SHs that the company has been sold to one of the worlds leading etc etc. Then the next paragraph starts -
''The difficult news is the low price being paid for the company.''
I know the Irish pride themselves on their sense of humour but please. There is no other way of putting this - shareholders have been royally screwed and the founders have come out of it smelling of roses. It is essentially a collapse not a sale - 91p in every pound invested has been LOST. That is not a low price; its next to zero.
Like their grossly exaggerated sales figures and their grossly exaggerated valuations, Sugru in its last dying gasps serves up a grossly misleading statement. All with that Irish smile and pixie glint. To be sure.