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timmbo

Member since Sep 2011 • Last active Aug 2021
  • 6 conversations
  • 110 comments

Most recent activity

  • in Components, clothing and miscellany
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    Upgraded to a Berk saddle a while ago, only just getting round to selling this.

    Very good condition, bought new, lightly used.

    Ideally would prefer cash on collection from SE16 (Bermondsey), as I’m moving house next week. Can post at additional cost.

    Priced to sell at £60.

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    afraid not, likely to have found a home already.

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    GONE

    Used but working condition. Upgraded to a turbo, so these are surplus to requirements.

    Free to collect from Bermondsey, SE16. Priority will be given to whoever is able to collect soonest!

  • in Bikes & Bits
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    email to investors.

  • in Bikes & Bits
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    It is with intense sadness that I have to inform you that Vulpine is
    insolvent, and I have had to take the extremely difficult but
    essential decision to place the company I founded into administration,
    under UK law, hence my unusual formality.

    Two Partners from RSM Restructuring Advisory LLP will be appointed
    administrators next week, after a special resolution was passed
    yesterday by ‘A Shareholders’, who are able to vote. Once appointed
    the Administrators will have full control of the company and I will no
    longer be able to make any decisions.

    We have done all we can to finance the company. The late arrival of
    the majority of our Spring Summer 2017 stock put us in a more
    difficult cash position. Thus we sought to raise investment again
    through crowdfunding. But this did not gain the necessary momentum to
    complete, likely due to the very poor trading figures of the last
    financial year. Thus we pulled out of the Crowdcube attempted raise
    and began contacting previously interested investors and potential
    buyers of Vulpine, plus a raft of new contacts. Whilst there was
    strong recognition of the brand, and initial verbal interest, none
    have produced offers or ongoing due diligence, and communication has
    stopped. It is highly possible that, having seen our precarious
    financial position and the complications of doing a fast enough deal,
    they are waiting to pick the business up in administration instead, if
    any deal is to be done.

    Vulpine’s brand and business structure remains relatively undamaged at
    this point, and any acquisition via administration would see the
    highest potential value to all stakeholders if conducted as quickly as
    possible.

    The proposed Administrators plan is to try to sell the company’s
    assets, such as brand, goodwill, database & website to maximize
    realisations for the benefit of creditors and potentially
    shareholders. You can contact Robert Young at RSM for advice on this
    process, or if you believe there may be an interested buyer:
    robert.young@rsmuk.com

    I cannot offer financial advice, and I encourage you to seek your own,
    but if you qualify for EIS status, you should be able to claim
    significant Loss Relief on top of your Tax Relief.

  • in Bikes & Bits
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    ...the article I linked to confirms that William Blair have been appointed.

  • in Bikes & Bits
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    I must say, I bought two of the originals from when they were crowdfunding, and they're incredibly disappointing.

    Feel very flimsy, need to be set up very carefully as they're prone to 'dulling' at the slightest misalignment, and produce a very weak ring.

    Splashed out on a Spurcycle bell in the end - a stupid amount of cash monay to spend on a bell, but it's infinitely better than the Knog.

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