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I saw the notice. Sounds like you and the other investors need to lawyer up. It may be a (very) poorly worded email, but it seems odd that a director can just announce that a subset of shareholders had bought the ailing company’s assets (seems like they bought the whole operation?!), presumably without notice to the other shareholders and for a reduced price, and they were saddling remaining investors with the entire loss.
Not advice, I am not an expert in this, but I’d start a crowdfund for shareholders and stakeholders to obtain a qualified legal opinion on the matter.
Leshaches-
I didn't put my 50 quid in to get rich, I did it to help nudge London towards bicycle taxis and delivery services. I'm a bit glum about being pushed out but I still want PedalMe to succeed. I hope the other Crowdcubers don't sue them.
edit: There are Crowdcubers on Reddit who claim to have put in £500 or £1000. No mention of legal action yet https://www.reddit.com/r/londoncycling/comments/1ah656k/pedal_me_going_into_administration/
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Those shareholders who bought the assets will have still lost their investment though.
They'll have had to commit new money to buy those assets. It may pay off, it may be good money after bad.
Sounds like the main issue was money owed to HMRC so whatever the buy out was it must have been acceptable to HMRC.
nick_h.
aggi
Pedal Me recently went into administration. But a group of shareholders has done a buy-out. The service hasn't been interrupted and the company may go on to have a bright future. No jobs lost. Road.cc has covered it https://road.cc/content/news/pedal-me-goes-administration-due-huge-debt-306553
The buy-out doesn't include the small investors who bought in via Crowdcube. We've been informed that our investment is "worthless in cash terms".