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Firm closing


finlo
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11 minutes ago, Roxanne said:

Disagree. It didn't work so well for NOA but it works well for Cycle 360.  It also works well at Cranky's in Peel where the two business compliment one another. Not only is the coffee excellent but the cafe side have almost turned into a bit of a community centre with evening events on that are well attended. I'm off there on Wednesday and I bet it will be packed with regulars and passing trade. 

There’s always very few people in the bike part at either Noa or Cycle 360. They aren’t really that complementary anymore. The whole pandemic work life balance nonsense is over and more people don’t have the time or money for either a very expensive latte or a £5K pushbike. 

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20 hours ago, 2112 said:

Probably cutting back in some way shape or form. It’s going to happen to lots of firms. Maybe bread will be produced two days of the week - Friday and Saturday?

There seem to be a few businesses popping up for sale on Facebook recently. You do get the feeling that many have had enough. Can’t see many people wanting to take a fucked business faced with rapidly rising fuel and staff costs off anyones hands though. 

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23 minutes ago, Newsdesk said:

There seem to be a few businesses popping up for sale on Facebook recently. You do get the feeling that many have had enough. Can’t see many people wanting to take a fucked business faced with rapidly rising fuel and staff costs off anyones hands though. 

Can you blame them? I can understand retirement and nobody to leave the business to. Sadly on this island it’s not straight forward, for example, if a business is surviving against the odds and its lease in its premises is up for renewal, the owner of the building increases the price, thereby making a business harder to make money - coupled with all the additional burdens. 

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13 minutes ago, 2112 said:

Can you blame them? I can understand retirement and nobody to leave the business to. Sadly on this island it’s not straight forward, for example, if a business is surviving against the odds and its lease in its premises is up for renewal, the owner of the building increases the price, thereby making a business harder to make money - coupled with all the additional burdens. 

But it seems fairly optimistic to expect someone else to buy your problems off you with real cash. 

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19 minutes ago, Newsdesk said:

But it seems fairly optimistic to expect someone else to buy your problems off you with real cash. 

Agree.

This is the IOM where you can, and IOMG bullshit and spin permeate, to the point where people believe it wholeheartedly. 

If you are going to buy an existing business you would think that buyers would do their homework - due diligence - except if your IOMG. 

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