Puzzle man snubs Dragons' money

The cube has 19,186 solutions

A Devon entrepreneur who was offered £100,000 on TV's Dragons' Den turned down the cash.

Danny Bamping, 31, from Plymouth, was seen pitching his Bedlam Cube puzzle to the BBC show's investors on Tuesday.

He persuaded two of the panel to invest money into the 3D puzzle which he hopes will be a big Christmas hit, but he took out a bank loan instead.

The Bedlam Cube, which involves fitting 13 shapes into a box, has had interest from stores in the US and Europe.

Only time will tell if it's a good move Danny Bamping

Mr Bamping said the bank loan appeared to be a better deal to him as his business was already taking off.

Mr Bamping said: ''At the time the Dragons' offer looked like a positive move.

''But as it transpired we never closed the deal and my bank came up with a loan as an alternative.

''Although I am a firm believer in the principle of a smaller percentage of a much bigger pie, I just wanted to keep control of the business.

''Our sales have been good and the bank loan will allow us to meet demand. I have been able to drive the business forward and keep my equity.

''Only time will tell if it's a good move.''

A BBC spokesman said Ms Elnaugh and Mr Paphitis had been ''keen'' to keep the deal with Mr Bamping.

He added: ''It was only decided in the last week that the deal wasn't going ahead. He decided he didn't want to give any equity away.

''It is a shame, but we wish him the best with his company.''