Wednesday, 6 February 2019

Has Pull'd called it a day . Another Crowdcube failure?

We ask the question, as they have just filed accounts showing the company balance for YE December 2018 at £185 and a Google search reveals no website and the Cannon St venue says its permanently shut. So a Zombie really.  

Crowdcube investors put just £100k into this takeaway joint in 2015. It never really got going. Things have looked better.

The giveaway for us is that the £105k of fixed assets in last years accounts, themselves only recently filed, have all gone. Sold one assumes. Hard to run a F&B business without any equipment.  

Pull'd did try its wool trick on Crowdcube investors in a second round which bombed - a second round which had an increased valuation despite missing its previous targets. Well at least investors saw that one coming. We mentioned them before here.

Maybe a more realistic approach would have worked. It's a very tough market and only the very best will survive. 

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