Blackmore Bond on the Brink?

It's reported that Blackmore Bond have failed to make another payment of interest to their investors following on from the failure to pay the due coupon in October. This also follows delayed payments earlier in 2019.

Does this mean that they are getting close to going bust? It may be significant that they have been unable or unwilling to raise new capital from investors since LCF went into administration and their previous accounts raised lack of new money as a material factor in their existence.
Blackmore Bond on the Brink of Administration?
Blackmore Bond on the Brink?

They have also failed to submit their accounts on time and have now missed the Companies House deadline for submission so it tends to suggest that they are now not bothered about the consequences and may just be biding their time until they declare or are forced into administration.

Of course these may be entirely unconnected issues, payments may start flowing again imminently and investors will happily walk away with their capital intact despite the 25% payment of their money to Surge Financial as commission. If this does happen they will be one of the very few unregulated bonds that have managed to make such returns and pay all investors in full.

Sadly many of the investors in Blackmore also seem to be ones that have been hit by the failure of London Capital & Finance so could be in for a "double whammy" should the worst happen to Blackmore too.

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