Alicia Peacock and Jacqui Baker have opened independent boutique, Tabernam, with the help of the Wirral-based business finance specialist. Tony McDonough reports

Wirral finance specialist, Bathgate Business Finance, has secured a £25,000 start-up loan for two fashion-focused entrepreneurs.

Alicia Peacock and Jacqui Baker have opened independent boutique, Tabernam, on a Cheshire high street, stocking a range of brands as well as clothes from local designers, including Rixo, Anine Bing and Mes Demoiselles.

They were introduced to Bathgate by John Williams from Handelsbanken, as they sought finance to support start-up costs such as shop fit-out, fixtures, computers, stock and working capital.

Ms Baker is an accountant with RSM UK, specialising in the retail sector, and she and Ms Peacock have set up shop on Tarporley’s high street. She said: “As a completely new start-up business with no history, we were unsure if we would be able to secure the finance we needed to get the boutique in the setting that we wanted and secure the stock to enable us to make it work.”

Three months ahead of opening, the business partners went to Bathgate with three-year cash flow forecasts but no previous trading history while also asking for cash up front. Ms Peacock, who boasts 12 years’ experience in the fashion industry and has held senior buyer and store manager positions for boutiques in Cheshire, Barbados and Grenada, added: “The finance was the lifeline we needed to start our business.

“The team at Bathgate took the time to listen to our business and strategy plans and spent time understanding our needs. They were also able to make instant decisions at a local level, which was a key differentiator for us.”

As for all non-essential retail businesses the COVID-19 outbreak and subsequent nationwide lockdown forced Tabernam into survival mode. However, the owners were able to react quickly to the pandemic and adapt their business model to continue trading throughout lockdown via the company’s social media channels. 

Responding to customer requests, particularly through Instagram, allowed them to work with their brands to meet growing customer demand for loungewear, comfortable summer clothes and dresses suitable for garden parties.

Paul Trickett from Bathgate said: “The combination of Alicia’s existing customer following and exceptional eye for buying, and Jacqui’s retail business experience was a really exciting prospect for us.”