Monday, 25 January 2016
Seedrs' funded Hokkei calls it a day after just 6 months
We think this may be a world record for the fastest ECf exit.
Hokkei funded on the ECf platform Seedrs in June 2015. They raised £320k at a valuation of £1.1m for a new Chinese Take away concept that '...flips the traditional Chinese takeaway on its head' according to their pitch. Its first unit was due to open in Cardiff on January 2.
The business has just closed - having never really opened and the liquidation process is now in motion. Its too early to know what went wrong but we suspect they dropped the idea on its head when flipping it.
£100k of the Seedrs investment came from Go Compare founder Hayley Parsons. Seems we can all get it very wrong.
Thanks go to our friend for the tip off!