How a West Hollywood Retailer Used UpCrunch to Fix a Holiday Cash Crunch
Seven months of promises elsewhere. Then a deal that actually closed.
Candle Delirium runs the world's largest candle store. When another lender strung its founder along into the holidays, we told him the truth about that deal and put together one that funded.
- 16 yrs
- In business
- 75+
- Luxury candle brands carried
- 35%
- Of the year's sales in two months
- 7 mo
- Strung along by another lender
01The business
A flagship store in West Hollywood, a busy ecommerce site, pop-up stores around California, and his own brand of premium candles carried by other upscale retailers.
02The problem
He needed capital for inventory and another location. His lender promised everything he needed, then kept not delivering. It dragged on for seven months.
“If someone tells you they're going to give you this amount of money at this time and you don't get it, you're stuck.”
03What was at stake
By the time the holiday season was in full swing, the funding still hadn't shown up. For a retailer that does more than a third of the year's sales in two months, that's the worst possible timing.
“35% of my business happens in two months. They almost destroyed my holiday season.”
04How the capital was structured
First, the truth: the deal he'd been promised was never going to close. Then one plan that did three jobs: refinance some higher-cost debt, pay for inventory, and fix up a new pop-up location.
“Anton was basically telling me that it wasn't going to happen. And in the end, he was right.”
05The outcome
The funding came through and he got back to running the business. He still works with us when the business needs capital.
“It was as simple as any transaction that I have ever done in 16 years of doing business.”
“They're not just throwing money at you. They're explaining why we're doing it this way.”
“UpCrunch was very upfront and honest with me from the beginning. That was the most important thing. You've got to be able to trust somebody when they're telling you something.”
Anthony Carro · Founder, Candle Delirium