Replies to post #295076 on Amfil Technologies Inc (FUNN)

[Juancy]

Time will give us the ultimately outcome so I will wait patiently. I still believe that FUNN will get past this unfortunate cv situation and thrive. After all, why else would I be here? I could have easily given up on the company and moved on, but I am committed enough to see this play out.

$FUNN

[Plowmaster]

They are not a tiny tiny company anymore. There are plenty of interested parties who what them to thrive, most of all landlords. Local government also wants them to survive and thrive. Don't stay at home to destroy their economy and lead to more issues than the virus could ever cause.

Those statements made against them are not fully supported, concerning the outcome for FUNN

I look forward to long lines again.

$FUNN

[shajandr]

CoachMarc, I'd appreciate your view on how a restaurant cloeses up so quickly even when it appears to be doing great business volume. How and why does a place get stripped bare less than two weeks after doing solid volume business? Are the furniture and kitchen equipment leased or part of a security agreement so one the doors close the furniture and equipment is repossessed immediately? The place didn't even have time to go thru a liquidation bankruptcy before the joynt was gutted.

Are furniture and kitchen equipment typically used as collateral against loans and thus become secured property to the lender? Or is hat stuff leased and the lessor can repossess if the lessee defaults on payments? How does it generally work?

shajandr Thursday, 04/23/20 01:22:01 AM
Re: CoachMarc post# 294593
Post # of 295095

Coach, I just went to town today for the first time in over a week. A local landmark Mexican restaurant that also had a drive-up window and take-away food is now gone. The windows have "For Lease" signs, the main signage is gone, and it looks like the interior is empty of tables, chairs, kitchen equipment - mostly gone.

This was a local landmark (and part of a very small chain) and it has done great business for at least 20 years. The drive-thru was open last time I drove by - about 10-12 days ago.

Man, this was a shock to see how it went so fast from having a line of cars at the drive-thru window to being shuttered and mostly gutted of furniture and the main counter/kitchen in less than 12 days. This was a very popular restaurant and nott some high-priced, low-volume place.

I can tell from your posts that you know the restaurant biz and I was wondering if you have any comments on how a place goes from being so popular, and having a booming drive-thru/takeaway biz to being stripped and the For Lease signs in the windows less than two weeks later.

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=155196821

[BubbaInSC]

Cafes Won't Re-Open before 6/15/20, if at all.

IMO, it will take a month AFTER Toronto and/or Tempe Ordinances are lifted that allow non-essential services to re-open.

And, yeah...the FU19 audit ain't gonna happen any time soon.

Auditors, commercial real estate brokers, construction companies are all essential services.

hiring of auditors, signing of leases, hiring contractors can all be completed virtually via Telework from one's own home

Apparently, FUNN doesn't know how to conduct business virtually via TeleWork from one's home.

Come on now, it doesn't take a genius to predict an unprecedented number of bankrupcies coming up, and AMFIL will be one of them, imo. AMFIL leveraged themselves at the worst possible time, and will unfortunately not survive this ordeal. The lawyers group will find a way to back off, if they haven't already done so.

Restaurant margins are razor thin and only the most established casual dining properties with excellent balance sheets will survive. Snake's cannot and will not survive unless they fill the space as they have in the past. This will not happen anytime soon. Depending on what will happen in the next few weeks, I am predicting that Snakes may not even re-open.

Oh, and forget about the audited 2019's...