Snakes needs to gather itself and get healthy, not expanding and diverting assets and energy in some little boy's fantasy of making the company stronger. That is what Ben did with the original Snakes and why he lost it to Amfil. This company is dangerously close to bankruptcy. It is the definition of balance sheet insolvency.
Had we been Franchising, that would be a different matter.
If management had not been giving a blind eye towards investors for such a long time the erosion would be less in my opinion. They need to tell their story in a much more impactful way to the investing community.
The new location looks like a stray away from a conventional snakes and lattes. Hopefully it works out not sure it’s the best plan though.