Adviser left with ‘bad taste’ after green EIS goes under
- On December 16, 2020
- By GrowthInvest Marketing
An adviser said he was left with a “bad taste in the mouth” after a green enterprise investment scheme used by his clients went into administration.
In a letter seen by FTAdviser, Earthworm — which runs an Impact EIS fund and a Seed EIS portfolio — told advisers the pandemic had been an “extremely challenging time” for the firm and that a decision had been made with “significant regret” to close the company.
Administrators Leonard Curtis said the company’s fundraising opportunities had been “significantly diminished” due to the Covid-19 pandemic, which had ultimately impacted Earthworm’s ability to generate revenue.
GET IN TOUCH!
CALL US020 7071 3945
FOLLOW US ON
Throughout our site you will find links to external websites. Although we make every effort to ensure these links are accurate, up to date and relevant, we cannot take responsibility for pages maintained by external providers.