Harlequin Imports (UK) Ltd

Other

Funds Raised

£25,000.00

Final AER

18.16%

Loan term

60 MONTHS

Auction Closed

2015-06-28

Recovery News
This loan may be behind with its repayment schedule and so microloan trading has been suspended while we work to help the business recover its repayment form. Please see the Loan Updates tab for recent updates.

About the Business

Company Name: Harlequin Imports (UK) Ltd Company Number: 08282329
Business Type: Other Years Trading: 2-3 years
Business Location: ACOCKS GREEN

About the Risk

Risk rating

C

Default rate

13.30%

Bad debt rate

5.47%

About the Security

Security Offered:

Personal Guarantee - PG from director

Est. Equity: 0.00

Risk Indicators Identified:

Important Files

Who are we?

Visit Our Website

Harlequin imports (UK) Ltd was formed by Savio Gomes to initially continue with importing quality gift lines to supply the retail sector but soon after realising there was a gap in the market for a unique gift shop specialising in licensed and branded items all under one roof took the company in a different direction. With over 22 year’s experience importing and supplying other retailers including the multiples with a vast range of gift lines over those years the Director opened the first Retail store at Merryhill shopping centre in Dudley, West Midlands trading under the name of Retro. The unique concept took off immediately with the initial 6 month forecast being met and exceeded. The second store in Stratford upon Avon was opened in April this year.

The business has moved into the retail sector and opened unique concept gift stores selling licensed and branded items such as: Star wars , Dr, Who, Ted Baker, etc.

Everything from Jukeboxes, record players, posters, gifts, mugs, tin ware greeting cards, etc. Our prices are kept keen, thus allowing us to compete with other retailers who sell approx. 25% of our product. By having such a diversification of product gives us an edge over the multiples e.g. HMV as we can stock 75% more variety then they can.

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Loan Offers

What is the loan for?

The loan will allow our expansion forecast to be implemented for 2015 by enabling us to open a further 2 retail shops within the UK. It will be primarily used for the refit and initial stock purchase costs per new store.

Eventually allowing us to have a total of six shops for this year and look forward to 2016 on continued expansion when projections are met this year.

In 2016 we will be developing our website even further to be seen by a larger audience by optimising our web presence and eventually running it as a separate part of the retail operation.

Why consider investing?

We source and stock only branded licensed products at very keen prices but not compromising our profit margins. Once a customer enters our stores they are amazed upon the variety and ranges we carry thus making them shop continuously at our stores for that unique gift/present.

We watch our prices and margins closely and manage and run our stores as a multiple would do in spite of us being a small independent. This reduces wastage of space and enables us to stock only fast moving lines which returns a profit for the space allocated. Buying is kept tight in slower periods and increased accordingly to past sales records during the Xmas season. New lines are always trialled on a SOR basis enabling us to control the buying finances. Forecasting and advance notification of new trends /films allows us to buy in merchandise in time for these events and helps us maximise on sales.

We are an aggressive, fast moving retail business which monitors market trends and puts in place products in line, to always maximise the sales potential. We negotiate low rents and prices to keep overall overheads as low as possible thus giving us more chance to succeed in any retail site we have. If the figures don't match our forecast then we do not proceed down that route.

Security

The loan is to be secured by way of a directors guarantee and an All Assets Debenture

DateAmountCapitalInterestReceived
28/07/2015£637.01£258.68£378.33
28/08/2015£637.01£262.60£374.41
28/09/2015£637.01£266.57£370.44
28/10/2015£637.01£270.60£366.41
28/11/2015£637.01£274.70£362.31
28/12/2015£637.01£278.86£358.15
28/01/2016£637.01£283.08£353.931300 days overdue
28/02/2016£637.01£287.36£349.651269 days overdue
28/03/2016£637.01£291.71£345.301240 days overdue
28/04/2016£637.01£296.12£340.891209 days overdue
28/05/2016£637.01£300.60£336.411179 days overdue
28/06/2016£637.01£305.15£331.861148 days overdue
28/07/2016£637.01£309.77£327.241118 days overdue
28/08/2016£637.01£314.46£322.551087 days overdue
28/09/2016£637.01£319.22£317.791056 days overdue
28/10/2016£637.01£324.05£312.961026 days overdue
28/11/2016£637.01£328.95£308.06995 days overdue
28/12/2016£637.01£333.93£303.08965 days overdue
28/01/2017£637.01£338.98£298.03934 days overdue
28/02/2017£637.01£344.11£292.90903 days overdue
28/03/2017£637.01£349.32£287.69875 days overdue
28/04/2017£637.01£354.61£282.40844 days overdue
28/05/2017£637.01£359.97£277.04814 days overdue
28/06/2017£637.01£365.42£271.59783 days overdue
28/07/2017£637.01£370.95£266.06753 days overdue
28/08/2017£637.01£376.57£260.44722 days overdue
28/09/2017£637.01£382.26£254.75691 days overdue
28/10/2017£637.01£388.05£248.96661 days overdue
28/11/2017£637.01£393.92£243.09630 days overdue
28/12/2017£637.01£399.88£237.13600 days overdue
28/01/2018£637.01£405.93£231.08569 days overdue
28/02/2018£637.01£412.08£224.93538 days overdue
28/03/2018£637.01£418.31£218.70510 days overdue
28/04/2018£637.01£424.64£212.37479 days overdue
28/05/2018£637.01£431.07£205.94449 days overdue
28/06/2018£637.01£437.59£199.42418 days overdue
28/07/2018£637.01£444.22£192.79388 days overdue
28/08/2018£637.01£450.94£186.07357 days overdue
28/09/2018£637.01£457.76£179.25326 days overdue
28/10/2018£637.01£464.69£172.32296 days overdue
28/11/2018£637.01£471.72£165.29265 days overdue
28/12/2018£637.01£478.86£158.15235 days overdue
28/01/2019£637.01£486.11£150.90204 days overdue
28/02/2019£637.01£493.46£143.55173 days overdue
28/03/2019£637.01£500.93£136.08145 days overdue
28/04/2019£637.01£508.51£128.50114 days overdue
28/05/2019£637.01£516.21£120.8084 days overdue
28/06/2019£637.01£524.02£112.9953 days overdue
28/07/2019£637.01£531.95£105.0623 days overdue
28/08/2019£637.01£540.00£97.01Not Due
28/09/2019£637.01£548.17£88.84Not Due
28/10/2019£637.01£556.47£80.54Not Due
28/11/2019£637.01£564.89£72.12Not Due
28/12/2019£637.01£573.44£63.57Not Due
28/01/2020£637.01£582.12£54.89Not Due
28/02/2020£637.01£590.93£46.08Not Due
28/03/2020£637.01£599.87£37.14Not Due
28/04/2020£637.01£608.95£28.06Not Due
28/05/2020£637.01£618.16£18.85Not Due
28/06/2020£637.01£627.52£9.49Not Due
Total:£25,000.01£13,220.59