The future of several pubs and restaurants across Cornwall appears uncertain after a businessman claimed he had been defrauded of a substantial amount of money.
Wild Bear Ltd, a Truro-registered hospitality company, has been associated with a number of venues across the county, including the Seven Stars in Penryn, The Cornish Arms in Constantine and The Cove at Maenporth.
Concerns over the businesses emerged following claims that The Cove and Seven Stars were closing.
The Packet contacted the Seven Stars, which confirmed the pub was still open but said the situation was being dealt with by Wild Bear Ltd.
Up to nine employees at the Cove were handed redundancy notices at the weekend saying their jobs terminated today (November 1) and there were no funds available to pay them.
The notice confirmed that Wild Bear Ltd had ceased trading and was looking to enter liquidation.
Employees may have to claim redundancy and other unpaid sums from the Government-backed RPS rather than directly from the company, but the notice says those claims cannot be processed until a liquidator is appointed.
The notice says liquidators are anticipated to be appointed in December 2026. The proposed liquidators are Richard J Smith & Co.
The company's hospitality portfolio has also included the Falcon Inn at St Mawgan, near Newquay, and Smugglers on the Harbour in Charlestown.
Rolf Munding, one of Wild Bear Ltd's directors and the former owner of Charlestown Harbour, told the Packet the situation was being dealt with and was "all a bit raw".
He alleged that he had been defrauded of a significant amount of money and said it appeared a "rogue employee" had been involved.
Mr Munding said: "It appears I have been defrauded of a great deal of money.
"At the moment [we are] just in the process of dealing with it but nothing to say at the moment. It appears we had a rogue employee."
No further details have been provided about the alleged fraud, and The Packet has not independently established the circumstances surrounding the claim.
Wild Bear Ltd was incorporated on August 3, 2016, and has its registered office at Kernow House, Gas Hill, Newham, Truro.
Its principal business activity is listed as licensed restaurants and the company remains listed as active at Companies House.
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As well as the Seven Stars, The Cornish Arms and The Cove, the company's hospitality interests have included the Falcon Inn at St Mawgan and Smugglers on the Harbour.
The Seven Stars is a historic Penryn pub with letting rooms and an on-site microbrewery which reopened with much fanfare in September 2020, while The Cove is a restaurant, bar and wedding venue overlooking Maenporth Beach which opened in February 2025.
Companies House records list Rolf Hugo Munding and Dr Dashiel Hugo Munding as the company's current directors. Mr Munding has been a director since the company was incorporated, while Dr Munding was appointed in November 2024.
Mr Munding previously owned Charlestown Harbour, having bought the historic port in August 2018.
Companies House records show he ceased to be a person with significant control of Charlestown Harbour Limited on February 1, 2026.
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