For all the use Stakis was - it may as well have been a plant shop. Evros Stakis, the founder and son of the late Stakis empire builder Sir Reo Stakis, took £101,000 off Crowdcube investors in 2013 and spent it - but he never opened a single nursery.
This is what Evros said about the company's exit plans on the Crowdcube, FCA regulated, platform -
The Exit Strategy
In terms of exit, Investors should be encouraged to take a 3-year view given the Seed EIS cover, which they would forfeit if they exited within that period. Having said that, once it has built a story and track record, the Company intends to list within the next twelve months on the London-facing Danish exchange, GXG Markets. That, of course, does not preclude a trade sale in the interim to a recognised player in the childcare sector.
Yet another one to cross off my list.