Albion Tea trading as Brew packs it in and closes down losing Crowdcube investors another £180k

Brew raised £180k in September 2015. It opened its only unit for just 5 months and has taken until now to be closed down. And you wonder why the failure rate is so low.  Brew was a shambles if you are going to be generous. 

Brew has the doubtful honour of being Crowdcube's first 2019 failure. Well actually it closed over a year ago but if directors do not take their responsibilities seriously and leave it up to HMRC to clear up their mess, then this all takes time. No doubt the directors will be making up some success story for their Linkedin page. 

Yet more evidence that investors in Equity Crowdfunding need our new service ECF Buzz - you can take a look at it here  - it will be the one stop website for all the information you need to make better informed investment decisions and hopefully avoid this type of mess. 

Crowdcube success Brew, a pub for tea, closes for summer refurbishment!

Brew raised £180k on Crowdcube in 2015. Now, having failed to open a second unit as planned, failed to raise more cash, they are closing the one unit they opened only a year ago for refurbishment; over the whole summer!

Does that make any sense? What did they use for the shopfit? How long does it take to refit - 5 months? Must be using Sloth and Sons - The Throw Away Slow Build Shopfitters - motto 'We Hang Around - a lot.''

Accounts are overdue and we think they will stay that way. The Crowdcube projections had them on revenues of £2.5m and net profit of £350k by now. Im pretty sure closure for refurbishment wasnt in the plans. Well done everyone. 

I'm an empty teapot, short and stout, where's my handle and where's my spout?? Is this Vapourware?

Look it really is time for investors on Crowdcube to wake up. Brew promised a tea pub opening in Balham in Autumn 2015. Over a year later, the tea has gone cold waiting for something to happen. 

In what has to be close to a con, the Tea Brew pub business that raised £180k on Crowdcube over a year ago has done nothing in 12 months. Projections showed a turnover of over £500k in 2016.

We contacted Brew to see what the story was. Apparently they are really close to opening their first unit - more than a year late. This story put about by the Brew PR gurus illustrates the problem -http://www.standard.co.uk/goingout/bars/somethings-brewing-specialist-tea-pub-set-for-balham-10313667.html.   and is dated June 2015. He claimed in it that they would have the first unit open in Balham in 2015 and then role out 9 more units in 4 years - well that is now 10 units in 2.5 years.

Investors have been misled. 

Why when there are a few good investment opportunities on Crowdcube - one on there now in the form of Happy Finish, do you insist on investing in this tripe?