After years of tight pockets in the hospitality industry, hotels and other venues are finally seeing an uptick in revenues and pursuing long overdue improvements. And Portobello Art Limited is poised to take advantage of the moment. The company has nearly 30 years of experience as a respected supplier of wall art and decoratives to hotels, leisure facilities and private healthcare centers, and the contracts are rolling in.
But a difficult half decade has squeezed Portobello's financial resources. To stay afloat, the company took out loans that proved not to be the positive solution they hoped. With a successful loan from rebuildingsociety.com, Portobello will consolidate existing loans to a saving of about £7,000 per month. And the company will increase its working capital to be able to take on the healthy pipleine of contracts coming its way.
"An Enviable Position"
Portobello has withstood the test of time — and three recessions — and proven itself as a reliable provider of high quality decorative goods and as a company stubborn enough to survive when many of its competitors have closed.
"We are in the enviable position where we are actually recommended to clients by several of the large Hotel Groups like Whitbread, IHG, Hilton," said co-director Richard Lewis. "We have also developed strong relationships with many other much bigger suppliers of non-competitive products to the hospitality trade, i.e. carpets, curtains, furniture, and signs, with whom we share referrals."
Despite taking hits during the recession, especially when some of their primary contractors outsourced to China, Portobello kept its head above water and "were able to build on [their] reputation and gain work from the likes of Holiday Inn and Hilton," Richard says, so now there is a much larger market for them to work with than before. "Premier Inn are also now launching new brands, which we are now supplying."
Turning The Corner
For the last few years, Portobello has been surviving more than thriving. To stay afloat, they have taken an EZBob loan and three FC loans, and repayments and interest are proving to be a drag on the company. Consolidation of these debts into one loan from rebuildingsociety.com will help the company take advantage of the prime economic moment before them. They took the loans in part hoping that a sizeable land investment would be finalized and improve their asset situation. That deal is still in process but has not been as immediate solution as once hoped. However, it should begin to pay off by the end of the year, which can help lenders feel more secure.
This loan is secured by a director's guarantee and a 2nd charge on the personal property from which the business is operated. In December, they will sign an option agreement on the above-mentioned land, which is worth about £4 million, and they are pursuing Lawful Development permission that will increase its value by at least £2 million.
The directors are confident that the economy and hospitality industries are sufficiently recovered for Portobello to reach its full potential as a provider of wall art and other interior design touches, a service area it has been a leader in for 27 years. Richard Lewis has been active in the discussion board and is eager to answer any concerns. You can learn more about the loan and company on its rebuildingsociety.com profile.
"An Enviable Position"
Portobello has withstood the test of time — and three recessions — and proven itself as a reliable provider of high quality decorative goods and as a company stubborn enough to survive when many of its competitors have closed.
"We are in the enviable position where we are actually recommended to clients by several of the large Hotel Groups like Whitbread, IHG, Hilton," said co-director Richard Lewis. "We have also developed strong relationships with many other much bigger suppliers of non-competitive products to the hospitality trade, i.e. carpets, curtains, furniture, and signs, with whom we share referrals."
Despite taking hits during the recession, especially when some of their primary contractors outsourced to China, Portobello kept its head above water and "were able to build on [their] reputation and gain work from the likes of Holiday Inn and Hilton," Richard says, so now there is a much larger market for them to work with than before. "Premier Inn are also now launching new brands, which we are now supplying."
Turning The Corner
For the last few years, Portobello has been surviving more than thriving. To stay afloat, they have taken an EZBob loan and three FC loans, and repayments and interest are proving to be a drag on the company. Consolidation of these debts into one loan from rebuildingsociety.com will help the company take advantage of the prime economic moment before them. They took the loans in part hoping that a sizeable land investment would be finalized and improve their asset situation. That deal is still in process but has not been as immediate solution as once hoped. However, it should begin to pay off by the end of the year, which can help lenders feel more secure.
This loan is secured by a director's guarantee and a 2nd charge on the personal property from which the business is operated. In December, they will sign an option agreement on the above-mentioned land, which is worth about £4 million, and they are pursuing Lawful Development permission that will increase its value by at least £2 million.
The directors are confident that the economy and hospitality industries are sufficiently recovered for Portobello to reach its full potential as a provider of wall art and other interior design touches, a service area it has been a leader in for 27 years. Richard Lewis has been active in the discussion board and is eager to answer any concerns. You can learn more about the loan and company on its rebuildingsociety.com profile.
