Blackmore Bonds is to delay its already-late October interest payment again, The Times reports.
Days before its October interest payment fell due, Blackmore announced that payment would be unilaterally delayed until November. That deadline has now also been missed.
Watching Blackmore’s interest payments has turned into a Groundhog-Day-esque ritual for those interested in the unregulated investment scene.
It is safe to say that never in financial history has there been this much interest over whether a £25m-odd company can scrape together around half a million pounds to pay quarterly interest.
That a relatively obscure micro-cap property company’s debts, which should only be of interest to a handful of sophisticated private investors, should end up in the national newspapers, emphasises the absurd extent to which the unregulated sector has been allowed to spread into the mainstream.
Movers and shakers news
In other Blackmore news, a Companies House filing shows that Blackmore Chairman Kenneth “Buzz” West jumped ship from Blackmore Bond plc on 1 September, though at time of writing he remains on the board of a number of other Blackmore companies.
West was until recently also non-executive Chairman of Kingswood Group, a regulated wealth management company, but resigned in April according to the FCA register.
West now appears to be taking an interest in the growing legal cannabis sector as Chair of Cannagrow Biosciences.
Having lost a large amount of money in London Capital and Finance ii seems to me that the writing is on the wall for the same thing again…lies and more cover ups. These people should serve time for duping innocent people….
I notice that Blackmore Group has missed the 27th December deadline to present its accounts. They are now overdue.