This is sad. Hop Stuff was a great story and in the hands of a sensible businessman, it could have grown into a success. Driven by a ridiculous plan to take over the brewing world, James Yeomans has single handedly jeopardised his own dream and possibly lost Crowdcube investors over £1m.
UPDATE - this is a live story and we have just been informed by the lawyers acting for the Petitioners that the petition has been dismissed as the debt has been paid on full. So what was that all about ???
We dont know the full story yet but no one is answering Qs. We do know that a Petition to Wind Up the company was brought by Construction and Shopfitting Limited on 19/02/2019 and as far as we can tell the case has not yet been heard. Their 3 bars are open for business as usual. Bu thten they have been set up as separate legal entities. Where does that leave Crowdcube shareholders?
Accounts have had date changes and are now well overdue. Not long ago Hop Stuff raised over £800k on Crowdcube. Have we been here before??
Clearly for things to have got to this stage, it must be serious. We warned him a while back not to over trade. Now this.........
We hear the shouts of the lite touch, free trade, meat eaters - 'well its a free world and he can do what he likes with his own business'. Not so fast. When he took other peoples cash - in multiple Crowdcube rounds - well over 1000 of them - he gave up that Divine Right. He had duties to his shareholders. One of them was to be sensible.
There have been a few odd things pinging about from Hop Stuff recently. At the start of March, so after the above Petition, James Yeomans emailed investors asking them if they wanted to buy a small placing of A shares. It was promoted as a deal not to be missed. Given what we now know, isn't that a little strange?
Let us hope that this can all be resolved and that Hop Stuff, wings partially clipped can carry on in more considered fashion to grow and prosper. Nout wrong with their Beers.
Foreshadowing just a bit: https://twitter.com/HopStuffJames/status/1119203417438793728
ReplyDeleteCould the repossession be anything to do with the other outstanding CCJs against Hop Stuff? There are three on record. Judgement for £17,006 and £26,359 and a "Satisfied" one for £38,321.
ReplyDeleteWhere do you get that info? According to a tweet the Landlord decided he may not want his building to be a brewery - but it will all be fine. Competency??
ReplyDeleteThey're saying that 3rd party interest is significant, so what do you bet they sell up (to Brewdog or the likes), James makes a packet, crowdfunders are shafted and bond holders are smiling because the acquirer has to take on the debt?
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