Kester Black investors told of administration weeks after the fact

Investors in cosmetics brand Kester Black say they were only told of the company’s financial hardships weeks after it entered voluntary administration, surprising those who contributed to its $2.1 million equity crowdfunding raise three years ago.

The ethical beauty label secured $2.16 million from nearly 1700 Birchal investors in October 2021, at a valuation of $22 million.

But the company behind Kester Black entered voluntary administration on July 9, in a process that evaporated its share value.

The administration was not…