The first company supported by Steven Bartlett on Dragons' Den Den was saved after it collapsed into the administration – but now the celebrity entrepreneur will not see a return at his £ 150,000.
Online Artisan Cheese Retailer Cheesegeek was purchased by the Albex Group for an unknown sum.
Bartlett, who is a regular function on the popular BBC show, has lifted £ 150,000 for a five percent interest in the London-based company in 2021.
The deal was shown in an episode that was broadcast in 2022, which marked Bartlett's first Dragons' den -appearance.
The founder of Cheesegeek, Edward Hancock, was told at the time that Bartlett wanted to earn back his money within two years.
The company was appreciated at £ 3 million.
Bartlett had 16,427 shares in the company through his private equity company, Catena Capital, according to documents available in Companies House, City AM reports.
But the cheese subscription, which started in 2017, became financial problems with combined losses of almost £ 3 million on total income of more than £ 4.5 million, the grocer reported.
Cheesegeek, the first company supported by Steven Bartlett on Dragons' den, was saved after he collapsed into the administration – but the entrepreneur of celebrities will not see any returns at his £ 150,000
Bartlett, who is a regular function in the popular BBC show, has canceled £ 150,000 for a five percent interest in the London-based company broadcast in an episode broadcast in 2022
Food resources Business Albex agreed to buy the company in a pre -Pack deal – which saved the Fortuinen of Cheesegeek – but Bartlett and other backers will not see a return.
Hancock said the retail publication: 'In those years we have had a number of incredible highlights and lows, as every founder will confirm if he will try to scale up a Ground Zero company, and I am incredibly our shareholders who have supported that vision over the years.
'Our acquisition means that we can continue this mission, with a minimum disruption of one of our great suppliers or customers, albeit on a slightly different path than we might have imagined.
“But the most important thing is that it means that we will now be in the strongest possible position to achieve the goal I started in 2017.”
In 2023, Cheesegeek collected £ 421,000 during a crowdcube campaign to raise money for an expansion of the company to physical retail trade.
And last year a new range of artisan cheeses was launched in Sainsbury's.
But despite these efforts, the company no longer had money.
Albex director Andrew Dalglish said: 'Cheesegeek's mission to support local artisan cheese makers and make great cheese accessible is important.
The deal was shown in an episode broadcast in 2022, which marked Bartlett's very first Dragons' pine appearance
Since he came to the show, Bartlett – the youngest dragon to become a member of the panel – has made more than 20 investments
Richard Simpson and Edward Hancock van Cheesegeek appeared on the episode of the Dragons' Den den
The cheese subscription service, which started in 2017, got into financial trouble before being bought out by Albex
'We are pleased to support it.
'As a family business we always take a long -term image and are committed to fully supporting Cheesegeek. Our financing gives them the stability needed to keep working and more.
“It will enable them to achieve their full potential and do this in collaboration with the artisans who bring much -needed diversity and craftsmanship to the British cheese industry.”
The same team remains in place, led by founder Edward Hancock.
Since joining the show, Bartlett – the youngest Dragon to become a member of the panel – has made more than 20 investments.
Cheesegeek represented his second largest investment after the £ 250,000 that he plowed into the fine jewelry brand Kimai, shown in series in series 21 in exchange.
