Huboo Technologies Limited (now Hub Realisations Limited Company number 09727464) didn’t collapse overnight—the company had been losing millions for years. But instead of taking decisive action, its leadership let it spiral into administration. Why?
Key Failures by Huboo’s Leadership
-
Ignoring Massive Financial Losses
- 2022: £47.1 million in losses on £17.7 million revenue.
- 2021: £13.3 million in losses on £13.7 million revenue.
- Leadership continued spending despite these shocking numbers.
-
Expanding Instead of Fixing Financial Problems
- Instead of cutting costs, Huboo opened more fulfilment centers.
- Expansion was funded by investors, not sustainable revenue.
-
Failing to Secure Additional Investment in Time
- By late 2024, investors refused to provide more money.
- Huboo had no backup plan when funding ran out.
-
Not Warning Customers About the Collapse
- Customers were completely blindsided when Huboo shut down.
- Businesses lost stock and orders because leadership failed to communicate.
Should Huboo’s Former Directors Face Consequences?
- Should directors be held accountable for allowing a company to collapse so badly?
- Should there be stricter financial oversight on high-risk startups like Huboo?
Conclusion
Huboo’s leadership made catastrophic mistakes, but faced no consequences. Will they repeat the same mistakes with Huboo Tech Limited?
