Escalating debt of over £250k has forced healthier cookie start-up Jnck Bakery into voluntary liquidation.
The move by the Wokingham-based company comes just seven months after smashing a crowdfunding target of £200k by 30% alongside £190k from private backers the year before.
The latest £260k raise completed via the Crowdcube platform was aimed at supporting the launch of its four-strong cookies range into 550 Tesco stores nationwide, having recently joined the retailer’s accelerator programme.
Jnck Bakery first unveiled its high fibre and protein cookies, which have 90% less sugar than existing counterparts, in March 2023 following two years of research by co-founder brothers Alex and Sean Brassill.
A Statement of Affairs filed on Companies House earlier this month revealed a list of Jnck Bakery creditors with debts totalling £250,722. Lee Morris of corporate insolvency firm Marshall Peters was named as liquidator.
Alex Brassill confirmed the closure of his business in a LinkedIn post this morning (15 September).
“After the most incredible five years, it is with a wide range of emotions that I share Jnck Bakery’s journey has come to an end,” he wrote. “Having placed so much love and energy into the brand, there is naturally a huge sense of loss. Jnck became such a big part of our identity, and for many reasons we believed it would continue to flourish.
“It has been easy for my minds default position to focus on the ultimate and objective failure of the business. This has been, and will continue to be a difficult process. However, the achievements, experiences and personal growth over the past five years fill me with pride, gratitude and hope for the future,” he added.
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