From building a £270 Million empire to losing it all: How I’m rebuilding my life, one step at a time

 

I write this with a heavy heart but also a resilient spirit. I am a devoted son, a husband of 33 years, a father to three wonderful daughters, and a proud grandfather. I’ve built friendships, earned awards, and devoted over 38 years to entrepreneurship. I’ve tasted both the sweetness of triumph and the bitterness of devastating loss.

 

​​​​The Fall: Paying the ultimate price for standing by my 97,000 employees and their families

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There was a time when I stood at the helm of a £270 million business empire—a company that employed over 97,000 people across seven countries, with over 200 offices. My life was a dream. I believed in creating opportunities, in lifting others, and in building something that would stand the test of time.

 

But life can be cruel and unforgiving. Between 2015 and 2022, everything I built began to collapse in front of my eyes. Our UK company, Shield, borrowed £10 million to keep 3,200 employees’ livelihoods secure. As the Chairman and majority shareholder, I gave my personal guarantee, putting £7 million worth of personal properties on the line. When Shield was sold to an Irish buyer in 2016, the sale didn’t cover the debts. The bank soon came for everything—my Indian company worth £45 million, was placed into administration, and my personal properties valued at £7 million were seized. Everything I had built crumbled, leading to severe depression and, ultimately, bankruptcy in the UK in 2022.

 

I was left to face the pieces of a shattered life. The grief was overwhelming. The sleepless nights, the anxiety, the tears that I didn’t let anyone see—because as the head of a family, I felt I had to stay strong. But inside, I was breaking!

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The Treacherous Betrayal : Backstabbed by those I trusted to run my business in India

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As if losing everything wasn’t enough, the person I had trusted to run my business in India betrayed me. The CEO, whom I’d left in charge when I moved to the UK in 2007, embezzled £2.7 million. When the truth came to light, he was fired, but in a desperate attempt to shift blame, he filed a false police complaint against me and the board.

 

The nightmare continued for 15 grueling months. The humiliation, the false accusations—it was soul-crushing. I was exonerated in December 2021, but by then, the damage had already been done. The false stories printed by sections of the Indian media left scars that didn’t easily heal. Even after being cleared, I couldn’t get those publications to acknowledge the truth. They had moved on, but I was left to pick up the pieces! This appalling experience exposed the power imbalance in traditional media and inspired the idea of democratising journalism.

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Rising from the Ashes: The challenges I faced from the Indian press, gave birth to this citizen journalism revolution called PressHop

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Amidst the darkness, I found a flicker of light. The painful battle and bureaucratic challenges that I faced with the Indian press stirred something inside me, and led to the birth of PressHop - a platform born out of necessity to empower citizens to directly share authentic news and disrupt the $1.9 trillion media industry.

 

PressHop isn’t just another business. It’s a movement, a revolution that aims to empower ordinary citizens to share authentic stories and challenge the $1.9 trillion media industry. Set to launch in London and Los Angeles by mid 2025, PressHop is more than just a platform; it’s my way of giving a voice to the 6.9 billion smartphone users who have stories to tell but no platform to share them. It’s my answer to the power imbalance that almost destroyed my life. It’s my chance to make things right!

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Rebuilding my life again: One brick, one content, one news at a time

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At 54, I’m starting over again. I was formally discharged from bankruptcy in 2023, and though I have lost so much, I refuse to be defeated. I’m rebuilding with the knowledge and experience I’ve gained, with scars that have made me stronger. The journey is hard, and there are days when the weight feels unbearable, but I am determined. I owe it to myself, to my family, and to everyone who has ever believed in me.

 

I came across a study that shows entrepreneurs in their 50s are twice as likely to succeed in building a successful tech company compared to those in their 20s and 30s. So here I am, humbled but not defeated, rebuilding my life one step at a time. I may have lost all my material possessions, but I haven’t my will to fight. If there’s one thing I’ve learned through all this, it’s that even when the world knocks you down, you can rise again. 

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To everyone who reads this, thank you for removing your time and not judging me, or others like me who have failed ❤️ If my story resonates with you, and if you’ve faced your own struggles, I hope you know you’re not alone. I am always here for a chat. Together, we can and we will rebuild our future again. ​

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Jai Shri Krishna 🙏🏽

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Ritchie Nanda

PhD, MBA, CSP, DISS

      +44 73 103 203 73

       ritchie@ritchienanda.com