Hotel Chocolat pays back customers who bought 'chocolate bonds'

In 2010 and 2014, a subsidiary of the group called Chocolate Tasting Club issued two bonds which paid a return in the form of luxury boxes of chocolates or Hotel Chocolat Gift Cards. Proceeds from the bonds were invested in capital projects that supported the company’s growth and developed cocoa sustainability projects in St Lucia and Ghana.

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At inception, the net cash proceeds received for the bonds were recognised as a liability. Each year the cost value…