Hirestreet Limited

Hirestreet Ltd, based in Gateshead, UK, is a small, active company founded seven years ago in 2017. Employing 22 people and boasting assets of £934,908, it operates a real address and is managed by three directors and one owner. The company’s core business revolves around an e-commerce site offering rental dresses for all occasions, with a focus on clothing and accessories—not knitted or crocheted—imported regularly over the past eight months.

The Hirestreet website showcases a vast selection of dresses, jumpsuits, and other clothing items categorized by occasion, style, and brand. It’s clear they’re targeting a fashion-conscious audience seeking affordable and sustainable alternatives to buying new clothes. The site’s design is modern and user-friendly, with a subscription model offering unlimited rentals and a focus on customer convenience. They even have a “Rent Trending” section highlighting popular items and a “Saved Items” feature for easy access to favorites.

Financially, Hirestreet Ltd’s recent performance shows some concerning trends. While current assets have decreased by 33% to £930,000, the most significant change is the dramatic drop in equity, which fell 8.7% to -£2,500,000. This suggests the company is burning through cash and relying on debt. Bank borrowings have also increased, and cash reserves have fallen significantly. Trade debtors have risen, indicating potential issues with customer payments. Despite these challenges, the company’s small size—meeting two of three criteria for a small company—allows for flexibility. As a small company, it’s exempt from an audit, so the figures are unaudited.

It's worth noting that the company’s description of its activities includes both business and domestic software development, as well as renting and leasing of personal and household goods. It's unclear how these activities relate to the core rental dress business, but it suggests a broader range of operations. Overall, Hirestreet Ltd is facing financial headwinds, but its established e-commerce platform and focus on sustainable fashion could provide a foundation for future growth—if they can manage their cash flow effectively.

Registered in England/Wales under the registration number 11070982, with a registered address at NN17 4SL, England, Corby, Unit 1 Brunel Road, Earlstrees Industrial Estate.

WARNING: The numbers have been rounded for simplicity and may be inaccurate.Please, refer to the latest financial report for verification.
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