Crisp must repay investors

Crisp lost a lawsuit against a group of investors who felt they had been shortchanged, but is pleased that the ruling made no mention of fraud or deception. The ruling has no impact on the company’s operations, says the online fresh market.

Lack of transparency

A year ago, a group of investors went to court to reclaim their investment in the company—a five-million-euro convertible loan. The online player was alleged to have provided insufficient transparency regarding its financial situation at the time of the agreement. Shortly after the investment, Crisp needed another capital injection, prompting ABN Amro to provide a 28-million-euro loan, and last summer, existing investors injected another 25 million into the loss-making company.