Following on the mess at Hopstuff, The RedChurch Brewery Ltd has gone into administration taking all its investors with it. This is not a place they wanted to go. It certainly will not deliver the perks that over 700 investors were looking forward to.
Redchurch, a London based craft brewer, used Crowdcube twice, in 2016 and then 2017. A total of just under £900k was invested by the Crowdcube faithful. Accounts were due next month.
The numbers are not out yet - The Gazette posting was only a few days ago. Nothing filed at CH. Maybe this will be a prepack. Investors will still lose out.
Lessons learnt - none.
Members of ECF.Buzz will be pleased to know that we had them (Redchurch not our members) marked as hospitalised following last year's accounts, which showed a loss of £290k against a Crowdcube projected profit of £412k. You see these things do actually matter.
And The Bottle Shop have bitten the dust. Presumably you are keeping the powder dry on that one
ReplyDeleteHi Jim - yes we had that recorded on the DB. Tks for reminder as the SofA has just come out and WOPW!! £1.77m deficit. We will pen something once the next report gives more details. Trade creditors stung for over £500k.
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