Wednesday, March 13, 2024 9:02:52 AM
As for the remodel in Virginia Beach that was originally supposed to reopen this Saturday, it hasn't even started. It got pushed a month then no date to reopen at all. Is the current plan to basically sit on a location full of costs with nothing coming in indefinitely and hope the local hate dies down enough to be able to reopen sometime later this year? I mean sure people may move on in another 6 months but how much is rent and utilities costing plus loans on a location that's not making a penny. The location is approx 3000 sqft and the rate in that shopping center is roughly $18 sqft/yr so that's $4500 a month in costs in just rent. So if they're not opening until April that's $10k in rent not counting utilities, insurance, etc, pest control etc. And if it's longer than that which is the implication with no actual date now you're looking $15-20k for nothing. Or more. And that's not counting any loans taken to do the buyout and rebrand to begin with that are now due. How many tens of thousands are going to be sunk into this location for it to sit and do nothing? Given the ineptitude of the people in charge can you even think they're capable at this point in being able to spin this story and get the locals and regulars to want to come back? Or is the company just going to burn money on yet another location that they can't turn a profit on or figure out how to properly run?
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