The majority of our funders would rather hear how the shop sale is going or when their money will be repaid. If only it was that simple!
~ What is the current situation?
An experienced independent retailer is in the final stages of the legal process to buy the shop business. Nobody has lost the money they have invested in my business and it is not in liquidation – yet!
~ What has caused delays to the sale?
We were about to complete two weeks after I last updated you, both parties had signed the contracts, we cleared the out of date stock and prepared the property ready for the buyer to take over the next day.
Then everything was put on hold until after the Easter holiday for two reasons. The shop was registered by the council as being an asset of community value. A funder tried to have the company wound up (even though the shop is currently selling for more than it would in liquidation).
Very damaging misinformation has continued to be spread on social media and accentuated in the press (such as we have already gone into liquidation, stolen stock from the shop, etc.).
Funders have been urged to contact the police and have the company investigated for fraud. This is nothing new and it does not concern me. Last year I wrote to the police asking them to investigate me to clear my name! But the police didn’t want to waste their resources. I emailed them again last week reiterating that I am more than happy to be investigated. I think it is the best way to expose the people who are actually damaging this business.
~ What are the next steps for the company?
We are due to attend a winding-up hearing next week. The judge will decide whether the company is closing and the assets divided that way or if it makes sense to allow the business to continue with the shop sale to completion in order to repay creditors.
~ When will I get my pledge returned?
If the shop had sold by now the company would have been able to repay the creditors who are due. As it stands, the sale is on hold until after the winding up hearing.
If the company is wound up before the sale takes place, the official receiver will control the company and investigate and report back to creditors. This process will take weeks, most likely months, with the added complication that the community asset registration will also disrupt the asset selling.
~ When will I hear from you again?
If we are allowed to continue to trade, I will update you myself. If not and the company is wound up next week, the official receiver will control proceedings. I can not correspond with any funders until after they have investigated and distributed the assets equally.
To reiterate what I have repeatedly stated throughout the life of this business:
- I am certain I have acted with integrity and in the best interests of all creditors.
- I welcome an investigation into my conduct as the director of Hunter Grange Investments Ltd.
- To counteract financial losses, caused directly or indirectly by the saboteurs, I have already put all of my earnings and available funds into the company and not drawn a wage from this business for three years. So has Josh – we are the largest creditors and we are the only ones who have truly protected the interests of investors and the community.
- There is indisputable evidence that there has been an orchestrated campaign by a group of people to deliberately sabotage us and this business for their own personal gain.
But it doesn’t matter what I say, the truth in all my updates is often just ignored or manipulated by people who are determined to drive the company out of business and ruin my reputation. Us doing the right thing, being fair, selfless or honest has not stopped their harmful activities, they even turn on supportive funders who publicly speak up for us.
I could have easily publicly named and shamed them however I have mostly ignored them, stayed quiet and tried to solve the problems they have caused. I am not afraid of speaking up but I don’t want to start a witch hunt. I’ve tried being open about their activities in my updates to funders and on our website. Anyway, most people find more entertainment in believing their lies and horror stories about us.
They don’t admit to how much they have cost this company to keep going in the face of the adversity that they’ve created. There’s no mention of their costly mistakes and failures! This is yet to be exposed.
Ironically, it is likely their actions will lead to the truth coming out. Maybe they didn’t think through what evidence the fraud squad or the official receiver would want to see, and we would be happy to produce if they investigate this business? Maybe now they have registered the shop as a community asset they want to run their own community shop? They may find it was easier to destroy a social venture than grow one!
With the level of sabotage we have endured, it might take my company being forced under and investigated before people find out who has been playing games with the future of the shop and your investment.
I have great respect for the community. Tywardreath isn’t toxic and people are not foolish. I highly recommend that people do not panic about their investment as this provides fuel to the people sabotaging us. I remain positive and believe that, should common sense prevail, a positive outcome is still possible for Tywardreath Shop and Hunter Grange Investments.
I’m doing my best despite what you may think, see or hear. I appreciate the encouragement from the majority of funders who continue to support me.