Thursday, 10 September 2015

This time, you cannot be serious!

GF Foods (York) are back - hard to believe but they are. This business, whose first incarnation was eventually dissolved in 2011, 2 years after going into administration with creditor debts of £350,000, has used Crowdcube before.

It now values itself at £2.5m having only shown losses to date in its two years of trading. It seems impossible that people will be stupid enough to give them money but then you would think that Crowdcube would have been sensible enough to have declined their approach. The mess the last GF Foods left behind has cost £80,000 in fees to sort out and left a lot of very angry creditors. Whats more the two directors now asking for our money on Crowdcube, had taken out loans from the old GF which despite legal attempts by the administrators to reclaim, were never repaid.

You have to ask given the history of this company and its directors, why this is being allowed 3 months before their next set of accounts are due to be filed for YE 03/15 - why are they not told to file them now? Even Mac could be forgiven for blowing up over this one!

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