Enclothed raised £400k on Crowdcube and then failed in another raise on Seedrs - after we had pointed out some very odd goings on, on here. Now they have been taken over by another Crowdcube funded company, The Chapar. Enclothed shareholders have been told nothing.
UPDATE 23 July 18 - A 100% reliable source tells us the following - Enclothed is in administration and will be liquidated with no money going to shareholders. Substantial secured and unsecured creditors will also lose out - numbers being worked on. The deal with The Chapar is not concluded and is now in doubt. From our perspective, these two girlies were cluelss rich kids, playing at being entrepreneurs. Which is fine with their own cash. But the gate keepers here ie Crowdcube - let them loose on the public and the result was inevitable. Crowdcube yet again to blame. Time for change. CH filings are not working - the only clue to this administration is the change of address.
In what is becoming a routine outcome for Crowdcube investors, they are the last to know what has happened to their investment. We wrote about Enclothed here when they attempted to raise more cash on Seedrs.
This deal may yet be a good one for investors in Enclothed. The company is still active according to CH. There is little evidence of the sale apart from what we hear and this article which has little detail
The company's SM and website are down.
The Chapar has large backers, including the once successful Will Hobhouse of Whittard fame. Mind you the outcome there wasnt great.
Any news please get in touch.