Yumchaa Holdings PLC
Were you persuaded to invest in Yumchaa Holdings (YH) PLC. If you did, Beat the Banks are here to help you recover the compensation that you are rightly due for faulty advice.
YH was yet another unregulated, illiquid investment (UCIS) with links to the Cyprus stock market that was heavily recommended by failed advice firm Black Star Wealth Management (BSWM) through both SIPPs and the failed Discretionary Fund Manager (DFM), Beaufort Securities Limited. Both Black Star and Beaufort have since been officially declared as being in default by the Financial Services Compensation Scheme (FSCS). Bizarrely in 2016 Beaufort held a 1.7% stake in YH.
Incorporated in July 2014 and co-funded by Brian Stockbridge, formerly the finance director at Rangers Football Club, the group offered a chain of tea styled cafés at a number of locations all over London. In 2016 the firm successfully listed £2 million of debenture stock on the Cypriot stock market.
Trading results for the year to September 2017 were poor with losses of £645,00. The Parkway and Tottenham Street sites were to be sold to bring in funds that would allow the business to meet its financial obligations. It was to be the last set of accounts submitted by Yumchaa Holdings before it was dissolved by compulsory strike-off in August 2019.
If you invested in Yumchaa Holdings PLC or any other failed asset following advice from BSWM and have lost money then a call to Beat the Banks is all it takes to find out more or if you prefer please complete our enquiry form on this page and we’ll be in touch.