NQR (previously know as “Not Quite Right”) was founded in 1987.  After changing hands several times, it fell into administration at the start of 2018, losing several million dollars annually from its operation of 20 retail stores. 

In May 2018, a team of seasoned deep discount retail specialists and strategic investors from FinCap transformed NQR by rationalising the number of stores, reducing operating costs and resetting the business for a much brighter future based on growth. 

With a strategic focus on improved efficiencies and providing customers with a compelling value proposition, the business dramatically improved in-store profitability in a short space of time. From its first week of operation under new management to 2022, NQR’s gross revenue grew 5-fold, developing a network of 24 stores across Melbourne and Adelaide and a highly successful online business.

Having achieved both its strategic and financial objectives, FinCap exited its investment in NQR in 2022, realising a 47% equity IRR (pre tax, net of fees) for investors.