The demise of the "Funky" Appliance Company - anyone know what happened?

[oldoldblue]

Noticed the sudden demise of the "Funky Appliance Company" as it went into administration last week https://www.funkyappliance.co/ - founded by an Old Blue serial-entrepreneur...
Does anyone know what happened, and whether investors from the various crowd-funding rounds will get their money back, and whether many Old Blues will have been stung by this?

I understand the previous funding rounds were massively successful, and that the already-launched products were also massively successful? So would have thought the profits and funding from those would have secured the new product development? Can't imagine what could have gone wrong so quickly, to have gone from launching a new air fryer last month to going bust?

[LHA]

Interesting, not a family without controversy

[Otter]

Company was run by the Silletts, to save googling.

[scrub]

Can't imagine what could have gone wrong so quickly, to have gone from launching a new air fryer last month to going bust?

Bankruptcies, beer bellies, and ageing. All happen slowly, at first, then all at once. Or something like that.

Even in the best economic environments, start-ups go under all the time and the margins between "OK" and "In Administration" are really fine. Could be anything really - delivery delays, manufacturing problems, distributors cancelling orders at the last minute, drop in demand, etc.

[oldoldblue]

Looks like the company was funded by repeated crowd-funding....Did anyone on here contribute? Are you getting your money back, or what did you get for your "investment"?

A "successful" serial entrepreneur apparently - but when your business goes into administration, can't really be classed as success can it, particularly for investors/funders?

Hope nobody lost their shirt, apart from those running it....

On another note - did the "funky" name come from Funky Dunky, of CH Theatre fame?!