Tuesday, 12 June 2018

Now we know - Thevibe or Vibe Tickets went bust because Luke Massie, the founder, failed to pay HMRC and owed them £57,000 on going into administration

The more we get to know about Thevibe's demise and resurrection as Vibe Tickets, the less we like it.

Not all the information is out - yet. But the initial filing shows Luke Massie's company owed HMRC PAYE and NI £57k. For a small business that suggests some seriously poor management. All his excuses turn to dust as we find out the real reason he called in the administrators. Debts to HMRC, once out of control, do tend to have this effect. 

We note that the total deficit is only £87k so the 'sale' of the company back to Luke Massie should leave that cleared up. We will have to wait and see. We will also wait to see if his promise of free shares in his new venture (well the old one rewrapped) Vibe Tickets, for all Crowdcube SHs, comes to pass. 

If I was an investor, which I wouldnt be as his ability to run anything is highly questionable, then I wouldnt want shares in this company, I'd just want rid of him.

Luke's PR keeps on purring as he gets Steve Bartlett - the wonderkid of SM - to interview him about how the poor lad has been hard done by in the press. FFS get a life. The interview is over a hour long and riddled with inconsistencies, lies and half truths. Bartlett should be ashamed of himself peddling this type of nonsense, when he removes comments and refuses to respond to Qs about why he has ignored the facts. Mind you, Bartlett says he thinks one of the most valuable lessons an entrepreneur can have is cold calling selling double glazing - essentially nuisance calling which is or should be illegal. The guy is a flake. Maybe one day Steve you will join the grownups and make some money but from looking at your accounts it wont be anytime soon. 

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