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News Article Comments : 3D moves sites to tenancy to reduce losses
Chicago Rock Cafe operator 3D Entertainment is to try to find tenants for its loss-making sites to reduce losses.
The company has instructed Fleurets to market licensed nightclubs to let for as little as £1,000-£4,000 per week. The premises are located nationwide and are available singularly or as in groups and are being offered on a Tenancy at Will.
New 3D appointee Peter Collins is to oversee this new “tenanted division” involving nine sites. Fleurets director Richard Negus said: “This is an ideal opportunity for a nightclub, leisure, bar or restaurant operator to occupy some prime licensed outlets for no purchase cost and with out any long term financial commitment.”
After a year’s successful occupancy, the licensee has the opportunity to apply for a secure lease / under lease for nil premium other than legal costs involved.
Referring to the move, chief executive David Crabtree told staff in an internal memo: “I have decided that we will be moving a number of venues to tenan
| Author Name | Opinion | Reply |
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George Baker 05/09/2008 17:31:39  |
RE: 3D moves sites to tenancy to reduce losses I see the "Credit Cruncher", "We Love All-Inclusive", "Rock Stock Exchange" and the other 'drink as much as you want' promotions - not to mention the greatest marketing ploy of all time - yes. FREE TOAST! (as in bread!) have all proved a winning formula. (See thread 22/8 entitled "The return of the all-you-can-drink offer). Instead of looking for tied tenants to pour their hard-earned money into a failed business, why not do the decent thing and just appoint administrators? This post replies to this thread |
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martin kay 05/09/2008 17:45:54 |
RE: 3D moves sites to tenancy to reduce losses Seems a good opportunity for local operaters who fancy their chances and who can probably do an awful lot better than the Corporate. What the article perhaps omits is what happens after a sucessful first year. Is it a renegotiation of terms (up rent for succes) or pre agreed? I would think that anyone would want to know "what happens next" if it all works out? This post replies to this thread |
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| edward carpenter 06/09/2008 18:08:32 |
RE: 3D moves sites to tenancy to reduce losses The content of this post is currently under review |
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Charles Yaxley 09/09/2008 01:01:35 |
3D moves sites to tenancy to reduce losses How bold to admit, in effect, that tenants are fair game for fleecing when you're not prepared to risk your own money.....shame on 3D and all those like them and all those who allow this sort of business practice: Charles Dickens himself could not have invented a more obscenely unfair businesss. This post replies to this thread |
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catherine Burnett 12/09/2008 00:48:12 |
3D moves sites to tenancy to reduce losses Well said Charles. 3D are openly admitting that as they can't make a profitable business out of some of their sites, they will sell them off and make the loss up by fleecing a tennant - if anyone reading this is thinking of giving 3D their hard earned cash, DON'T. They should be strapped to the yard arm and flogged. This post replies to Charles Yaxley > 3D moves sites to tenancy to reduce losses |
