Hole and Corner used Crowdcube to raise £209k from just over 200 investors in 2015. Now the would be highbrow magazine has gone into liquidation with estimated debts of £350k.
Not much to be said really. This was either a good idea poorly executed or a poor idea. It is a shame that trade debtors have been left hung out to dry.
Their plan included increasing readership and advertising - both of which seem to have failed.
HMRC took a hit for £171,993.
One day we will come up with a system that works.
