This is a first for the failing Crowdcube platform - their first bond issuer to go bust taking with it £665k of investors cash.
We warned you all about this happening when they were raising the money - when will you listen?
There are no details at CH but this article confirms the collapse - https://www.birminghammail.co.uk/whats-on/food-drink-news/square-pie-grand-central-closed-14260512
So days after we published a warning about the health of the other major bond raisers, what we thought and what Crowdcube told everyone wasnt possible, has happened.
What a total shambles. This comes at a time when the PR mania coming out of the Crowdcube office has been geared up. That's embarrassing. Square Pie ran 6 units, 5 of them were loss making. Was that in the bond offer documents?
We will bring you more on this once the documents are filed at CH. Looks like the simply ran out of cash and had had cash issues for a while. Long enough maybe to make the Crowdcube bond a scam? KPMG are in charge of the mess - is that a good thing?