I’ve just read the PB article and this thread.
I don’t think they malicious or bad guys. But they seem massively naive and pretty incompetent
Tim: It’s cool to make cool things. We built small amounts of profit into the titanium frames, which was then swallowed up, again, out of naivety. VAT, import fees, postage, handling, packaging, the courier’s handling and packaging, all of this stuff. That’s not part of the problem. We were learning to build the business and it was something we hadn’t considered.
Really!!?? I know sod all about business – but surely an import led manufacturing business this would be quite important?
I actually ended up feeling a bit sorry for them (not as sorry as for those who have lost money etc.). They sound like a pair of dafties completely out of their depth.