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Wednesday, December 09, 2015 1:53:06 PM
There may be more, but what I recall:
- In 2012 I think it was, the company announced the opening of a store in New Jersey. Never happened.
- In late 2012 or early 2013, the company announced five stores to open in Phoenix 'in the next 90 days'; two ultimately opened (though not certain if with the expected operator), both closed.
- January 2014, the company announced a third store in SW Florida which never opened; instead, the two existing stores have closed per an IH poster (although, all three still show on the company's website).
- In Spring, 2015, a JV was announced for NY store openings, but none have happened.
Privately, in spring of 2015 one poster told of conversations with BH about many mall store openings. Per my potentially imperfect review of mall websites, only one of those stores is currently open (perhaps another poster can update/correct).
Indeed, as of the end of June, the company had still not been paid the franchise fees for three stores which were recorded in Q4, 2014.
If the company elects to put resources toward committed financial filings versus baristo and k-cup inventory, perhaps we will see if more BMOC stores have in fact been opened, and the prior ones paid for.
With respect to Washington, store count has been constant for years. With current liabilities equal to three years of revenue at the end of Q2, not clear where the company will find the cash -- or the credit -- to open new stores, although the company may have salvaged equipment from stores closed in the last year or two (SW FL (2), AZ (2), TX (2), MT (1)), thereby reducing store opening costs.
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