Seedrs had Eat Square on their site raising cash recently. Now Eat Square has gone into administration. The Gazette for this was posted a while ago. It does beg the question - did Seedrs investors know that this was a last ditch attempt to fund the company at a valuation of £860k?
Eat Square had raised initial funding on Seedrs in 2017. Then a Morrisons' local listing gave them a boost. But lack of funding and planning (for the new funding) have left the company cashless and in a hopeless position. How many times do we have to see this classic over trading before founders start waking up?
There is absolutely no point in having a fantastic product and listings coming out of your ears if you cannot get the basics right. Lack of cash is a death sentence for any business and it is all avoidable with planning.
If you want to learn how - join ECF.Buzz.
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