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Stores Closing in Sligo **mod warning post #720**

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Comments

  • #2202
    EmptyTree
    Registered Users, Registered Users 2 Posts: 749 ✭✭✭EmptyTree


    Geuze wrote: »
    Given the massive rent of 45,000 pa, I'm not surprised.

    What a ridiculous price. That number really must have been plucked out of the air. I hope the owner enjoys having his building back..... Empty


  • #2203
    mickwat155
    Registered Users Posts: 296 ✭✭mickwat155


    Lazat is gone on Grattan street


  • #2204
    Basq
    Registered Users, Registered Users 2 Posts: 44,029 ✭✭✭✭Basq


    mickwat155 wrote: »
    Lazat is gone on Grattan street
    Stated on FB that it was due to "unfortunate reasons"..

    .. until I know more, I'll await the FSAI report.


  • #2205
    Andy From Sligo
    Registered Users, Registered Users 2 Posts: 11,840 ✭✭✭✭Andy From Sligo


    EmptyTree wrote: »
    What a ridiculous price. That number really must have been plucked out of the air. I hope the owner enjoys having his building back..... Empty

    I dont really know the ins and outs on tax on property but most probably saves a good portion of tax breaks now its empty. I think that was the score the last time i asked someone why there were so many empty shop/buildings .. of course though it could all be rumours and hearsay


  • #2206
    AlmightyCushion
    Moderators, Education Moderators, Technology & Internet Moderators Posts: 35,100 Mod ✭✭✭✭AlmightyCushion


    Andy From Sligo wrote: »
    I dont really know the ins and outs on tax on property but most probably saves a good portion of tax breaks now its empty. I think that was the score the last time i asked someone why there were so many empty shop/buildings .. of course though it could all be rumours and hearsay

    That doesn't make any sense. If they're not taking in any rent then they don't pay tax as there is no profit. However, there is still no profit.


  • #2207
    TheKBizzle
    Moderators, Recreation & Hobbies Moderators Posts: 539 Mod ✭✭✭✭TheKBizzle


    Lazat has changed back to Top Taste.

    Sweet Beat and Sweet As both closed down. Bailiffs were in yesterday apparently


  • #2208
    littlejp
    Registered Users, Registered Users 2 Posts: 715 ✭✭✭littlejp


    TheKBizzle wrote: »

    Sweet Beat and Sweet As both closed down. Bailiffs were in yesterday apparently

    Seriously???


  • #2209
    shanec1928
    Registered Users, Registered Users 2 Posts: 4,164 ✭✭✭shanec1928


    littlejp wrote: »
    Seriously???
    https://www.sweetas.ie/


  • #2210
    _feedback_
    Registered Users, Registered Users 2 Posts: 4,274 ✭✭✭_feedback_


    shanec1928 wrote: »
    https://www.sweetas.ie/

    That is bad news ...


  • #2211
    prodsc
    Registered Users, Registered Users 2 Posts: 1,290 ✭✭✭prodsc


    Sign on Sweet Beat window says Closed for Renovations!! Looked like things were being packed up..shame to see it close!


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  • #2212
    ednwireland
    Registered Users, Registered Users 2 Posts: 14,452 ✭✭✭✭ednwireland


    TheKBizzle wrote: »

    Sweet Beat and Sweet As both closed down. Bailiffs were in yesterday apparently

    gutted some of the nicest food I've ever eaten.

    My weather

    https://www.ecowitt.net/home/share?authorize=96CT1F



  • #2213
    milli milli
    Registered Users, Registered Users 2 Posts: 1,247 ✭✭✭milli milli


    That’s very sad news about Sweet Beat & Sweet As. They will definitely be missed. Although I often wondered how the owner could pay all the staff for the two cafes - you’d want to be making serious turnover to pay everyone (15 in Sweet Beat and 12 in Sweet As - figures gotten from interviews).
    Do you reckon it was mismanagement?
    Because the food itself and marketing of the establishment can’t be faulted.


  • #2214
    sligojoek
    Registered Users, Registered Users 2 Posts: 25,420 ✭✭✭✭sligojoek


    That's a pity all right. My 2 daughters have being going in there since the start. Neither are vegetarians but 3/4 of what they'd eat would be veggie dishes. They always came away happy and had great things to say about the place.


  • #2215
    Basq
    Registered Users, Registered Users 2 Posts: 44,029 ✭✭✭✭Basq


    milli milli wrote: »
    That’s very sad news about Sweet Beat & Sweet As. They will definitely be missed. Although I often wondered how the owner could pay all the staff for the two cafes - you’d want to be making serious turnover to pay everyone (15 in Sweet Beat and 12 in Sweet As - figures gotten from interviews).
    Do you reckon it was mismanagement?
    Because the food itself and marketing of the establishment can’t be faulted.
    I see nothing indicating Sweet Beat has closed, just Sweet As.


  • #2216
    Tired Gardener
    Closed Accounts Posts: 456 ✭✭Tired Gardener


    Bloody hell! That place only opened a few months ago, kept meaning to pop in.

    Hope Sweet Beet doesn't go under, those Seitan Burgers are bloody lovely!

    It did seem a bit rash to open two restaurants in a small town such as Sligo, especially so close together.


  • #2217
    clubberlang12
    Registered Users, Registered Users 2 Posts: 1,507 ✭✭✭clubberlang12


    AlmightyCushion wrote: »
    That doesn't make any sense. If they're not taking in any rent then they don't pay tax as there is no profit. However, there is still no profit.

    Not really, you are looking at 1 property in isolation. Businesses often buy properties to reduce their taxable profit, thus paying less tax(if any at all), but acquiring an asset. That may come from a company profits or a loan which can still be claimed against their tax liability. Even if the property(s) sit empty, they are still increasing in value in the current market and so are an investment. Potentially if rented out, they may go over the tax liability threshold and result in them paying more tax than what the rent would be worth to them. If they thought they were losing out...........they would be rented out!!

    The only way to stem the tide of unused commercial building is to make landlords( be it private businesses, banks or investment fund businesses) liable for rates on empty units. It won't be long till you see more appeasing rental costs then.


  • #2218
    AlmightyCushion
    Moderators, Education Moderators, Technology & Internet Moderators Posts: 35,100 Mod ✭✭✭✭AlmightyCushion


    clubberlang12 wrote: »
    Not really, you are looking at 1 property in isolation. Businesses often buy properties to reduce their taxable profit, thus paying less tax(if any at all), but acquiring an asset. That may come from a company profits or a loan which can still be claimed against their tax liability. Even if the property(s) sit empty, they are still increasing in value in the current market and so are an investment. Potentially if rented out, they may go over the tax liability threshold and result in them paying more tax than what the rent would be worth to them. If they thought they were losing out...........they would be rented out!!

    The only way to stem the tide of unused commercial building is to make landlords( be it private businesses, banks or investment fund businesses) liable for rates on empty units. It won't be long till you see more appeasing rental costs then.

    I'm not a tax accountant so I may be wrong but none of that makes any sense. There is no way that increasing your income results in that business paying more tax than the extra income generates.

    You will pay more tax because you profits are higher but you will still have more after tax profits by renting out the property than by not renting it out.


  • #2219
    clubberlang12
    Registered Users, Registered Users 2 Posts: 1,507 ✭✭✭clubberlang12


    AlmightyCushion wrote: »
    I'm not a tax accountant so I may be wrong but none of that makes any sense. There is no way that increasing your income results in that business paying more tax than the extra income generates.

    You will pay more tax because you profits are higher but you will still have more after tax profits by renting out the property than by not renting it out.

    You're not looking at it from a business perspective. Your company makes €500,000 profit that is taxable. Instead of paying tax on that profit, purchase a property for €500,000 as a business expansion(expense). You now have reduced your tax liability and if purchasing at the lower end of the scale(which alot of these businessmen did when the recession hit), and you potentially have an investment increasing x% each year without ever having to rent it out and thus increase potential tax liability. It's easy to say that the tax on the the profit from renting shouldn't be much, but that's why they have accountants to work the numbers for them. It's no coincidence so few people/companies own a lot of the vacant building around the town ;)


  • #2220
    redarmyblues
    Registered Users, Registered Users 2 Posts: 974 ✭✭✭redarmyblues


    clubberlang12 wrote: »
    Not really, you are looking at 1 property in isolation. Businesses often buy properties to reduce their taxable profit, thus paying less tax(if any at all), but acquiring an asset. That may come from a company profits or a loan which can still be claimed against their tax liability. Even if the property(s) sit empty, they are still increasing in value in the current market and so are an investment. Potentially if rented out, they may go over the tax liability threshold and result in them paying more tax than what the rent would be worth to them. If they thought they were losing out...........they would be rented out!!

    The only way to stem the tide of unused commercial building is to make landlords( be it private businesses, banks or investment fund businesses) liable for rates on empty units. It won't be long till you see more appeasing rental costs then.

    Bernie Mullen built that pub and the units way back (in the 90s I think) any tax reliefs are gone at this stage, anyway capital spending as a general rule does not come with tax allowances.

    The problem in Sligo is that empty units are not rateable unlike other towns hence there is no incentive on a landlord to let a given premises at a discount. Better to leave it empty rather than place downward pressure on rents on your other let's. this works in Sligo because a small amount of people own must of the commercial property.


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  • #2221
    prodsc
    Registered Users, Registered Users 2 Posts: 1,290 ✭✭✭prodsc


    prodsc wrote: »
    Sign on Sweet Beat window says Closed for Renovations!! Looked like things were being packed up..shame to see it close!

    update:

    A little note from the beats of Bridge Street 🌱⁣
    ⁣
    We have had to close our beloved sister cafe Sweet As... due to difficult trading conditions over the last six months. Brexit, VAT increases and startup costs were just unsustainable to maintain any longer. We are heartbroken, as you can imagine. ⁣
    ⁣
    Sweet Beat will be closed temporarily for a few weeks as we regroup, re-evaluate and recharge. We are aiming to reopen in early February and hope you will come back to visit us then. ⁣
    ⁣
    We can't thank our staff enough for all their commitment and support during this time but we have had to let people go 💔⁣
    ⁣
    In the meantime as we work towards February, here is how you can help; ⁣
    ⁣
    1️⃣ Sign up to our mailing at sweetbeat.ie/newsletter to be the first to know our opening date. ⁣
    2️⃣ Please spread the word that we will reopen in a few weeks time. ⁣
    ⁣
    Thank you for your patience, we are devastated but we will be back 🙏

    Hopefully it will reopen.


  • #2222
    johnire
    Registered Users, Registered Users 2 Posts: 1,535 ✭✭✭johnire


    That’s good to read but how can they reopen in a few weeks if they’ve closed? Surely the same problems will still be there?
    I really hope though that it works out for them.
    prodsc wrote: »
    update:

    A little note from the beats of Bridge Street 🌱⁣
    ⁣
    We have had to close our beloved sister cafe Sweet As... due to difficult trading conditions over the last six months. Brexit, VAT increases and startup costs were just unsustainable to maintain any longer. We are heartbroken, as you can imagine. ⁣
    ⁣
    Sweet Beat will be closed temporarily for a few weeks as we regroup, re-evaluate and recharge. We are aiming to reopen in early February and hope you will come back to visit us then. ⁣
    ⁣
    We can't thank our staff enough for all their commitment and support during this time but we have had to let people go 💔⁣
    ⁣
    In the meantime as we work towards February, here is how you can help; ⁣
    ⁣
    1️⃣ Sign up to our mailing at sweetbeat.ie/newsletter to be the first to know our opening date. ⁣
    2️⃣ Please spread the word that we will reopen in a few weeks time. ⁣
    ⁣
    Thank you for your patience, we are devastated but we will be back ðŸ™

    Hopefully it will reopen.


  • #2223
    shanec1928
    Registered Users, Registered Users 2 Posts: 4,164 ✭✭✭shanec1928


    Will it be like when 5th on teeling or the draft house closed for renovations/ winter...


  • #2224
    TheKBizzle
    Moderators, Recreation & Hobbies Moderators Posts: 539 Mod ✭✭✭✭TheKBizzle


    They will try and open one I imagine. Bailiffs hauled the fridges out of there on Monday and staff were given letter on Sunday saying they were closing indefinitely. All seems very messy


  • #2225
    littlejp
    Registered Users, Registered Users 2 Posts: 715 ✭✭✭littlejp


    TheKBizzle wrote: »
    They will try and open one I imagine. Bailiffs hauled the fridges out of there on Monday and staff were given letter on Sunday saying they were closing indefinitely. All seems very messy

    Out of the new place or old place? I wonder are they separate entities financially.


  • #2226
    TheKBizzle
    Moderators, Recreation & Hobbies Moderators Posts: 539 Mod ✭✭✭✭TheKBizzle


    littlejp wrote: »
    Out of the new place or old place? I wonder are they separate entities financially.

    Out of the old place. I imagine they were all under the same umbrella if they got equipment seized from both


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  • #2227
    littlejp
    Registered Users, Registered Users 2 Posts: 715 ✭✭✭littlejp


    TheKBizzle wrote: »
    Out of the old place. I imagine they were all under the same umbrella if they got equipment seized from both

    Oh no. Hope they can get open again soon.


  • #2228
    Tired Gardener
    Closed Accounts Posts: 456 ✭✭Tired Gardener


    Thanks for the update on Sweet Beet, does seem like they have taken a heavy blow. Really hope they can recover from this.

    Still not sure why they thought opening a second shop in Sligo was a good idea, even without the uncertainties of Brexit, it seemed a bit rash.

    Hopefully the staff who were let off managed to find employment.


  • #2229
    Buford T Justice
    Registered Users, Registered Users 2 Posts: 6,260 ✭✭✭Buford T Justice


    I can't see how they're laying part of the blame here on Brexit. How does that impact footfall through a local business?


  • #2230
    TheKBizzle
    Moderators, Recreation & Hobbies Moderators Posts: 539 Mod ✭✭✭✭TheKBizzle


    I don’t see how it has anything to do with Brexit or a shaker tourist season when you opened in the middle of tourist season. I heard today <SNIP>. All the staff have been let go too so doubtful they will be opening in February as they are saying on social media.



    Mod note: Please dont post potentially libelous "hearsay"


  • #2231
    tinpib
    Registered Users, Registered Users 2 Posts: 4,507 ✭✭✭tinpib


    The party boutique card shop etc beside Easons on O'Connell St had windows totally blocked out with brown paper yesterday, so doesn't look too good there.


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  • #2232
    Basq
    Registered Users, Registered Users 2 Posts: 44,029 ✭✭✭✭Basq


    tinpib wrote: »
    The party boutique card shop etc beside Easons on O'Connell St had windows totally blocked out with brown paper yesterday, so doesn't look too good there.
    That was fairly seasonal I thought anyways..


  • #2233
    blackwhite
    Registered Users, Registered Users 2 Posts: 8,960 ✭✭✭blackwhite


    clubberlang12 wrote: »
    You're not looking at it from a business perspective. Your company makes €500,000 profit that is taxable. Instead of paying tax on that profit, purchase a property for €500,000 as a business expansion(expense). You now have reduced your tax liability and if purchasing at the lower end of the scale(which alot of these businessmen did when the recession hit), and you potentially have an investment increasing x% each year without ever having to rent it out and thus increase potential tax liability. It's easy to say that the tax on the the profit from renting shouldn't be much, but that's why they have accountants to work the numbers for them. It's no coincidence so few people/companies own a lot of the vacant building around the town ;)

    I never failed to be amazed the amount of people who will try to pass themselves off as knowledgeable regarding tax, and them immediately show themselves up by not knowing the most basic principles.

    Capital purchases - especially immovable assets - are not a tax deductible expense. At the very, very best you can get capital allowances at 4% of the price for 25 years, but that's only for industrial buildings.


    Any rental income within a company is taxed at 25% (unless the company's registered trade is commercial renting, and then the tax rate is only 12.5%).

    Renting out the property has no impact on capital allowances, so if eligible for capital allowances they'll still have the 4% deduction, plus at very worst 75% of the additional rental income.


  • #2234
    muffler
    Registered Users, Registered Users 2 Posts: 46,305 ✭✭✭✭muffler


    Guys, can we leave it at that please regarding the tax issues. The taxation forum is there for such discussions.


  • #2235
    clubberlang12
    Registered Users, Registered Users 2 Posts: 1,507 ✭✭✭clubberlang12


    blackwhite wrote: »
    I never failed to be amazed the amount of people who will try to pass themselves off as knowledgeable regarding tax, and them immediately show themselves up by not knowing the most basic principles.

    Capital purchases - especially immovable assets - are not a tax deductible expense. At the very, very best you can get capital allowances at 4% of the price for 25 years, but that's only for industrial buildings.


    Any rental income within a company is taxed at 25% (unless the company's registered trade is commercial renting, and then the tax rate is only 12.5%).

    Renting out the property has no impact on capital allowances, so if eligible for capital allowances they'll still have the 4% deduction, plus at very worst 75% of the additional rental income.

    Hands held up here...........seems I had this completely fudged up!!


  • #2236
    tinpib
    Registered Users, Registered Users 2 Posts: 4,507 ✭✭✭tinpib


    The butcher shop that opened at old Feehily's shop at the corner of the Mall and Bridge St seems to be closed. It only opened maybe 18 months ago? No major surprise, all they sold was prepacked meat, why would you bother going there when you can buy prepacked meat at the supermarket?


  • #2237
    Always Tired
    Closed Accounts Posts: 945 ✭✭✭Always Tired


    Shame to hear about Sweet Beat, I thought they must have been flying it when I heard they opened a 2nd location. I have some vegan visitors coming in May who I am meeting in Sligo and was hoping to be able to bring them there, so hopefully they re-open at some point.

    They were a bit expensive though. About 4 years ago I brought a friend there for a birthday lunch. We both ordered their lunch special, which sounded lovely whatever convoluted way they had it described but I didnt put 2 and 2 together what it actually was, until it arrived.

    It was beans on toast. And it was 11 euro for EACH. With the 2 smoothies I ended up spending over 30 euro on beans on toast.


  • #2238
    Basq
    Registered Users, Registered Users 2 Posts: 44,029 ✭✭✭✭Basq


    Always Tired wrote: »
    It was beans on toast. And it was 11 euro for EACH. With the 2 smoothies I ended up spending over 30 euro on beans on toast.
    Yeah, there's a few places doing this indicating that they're "posh" with cannellini beans and homemade tomato sauce, as opposed to a tin of Heinz Baked Beans.

    But to be honest, spotted cannellini beans at weekend in their "Everyday Value" range in Dunnes for a euro a can.

    Anything over 6 quid for that is insanity!


  • #2239
    johnire
    Registered Users, Registered Users 2 Posts: 1,535 ✭✭✭johnire


    The Sidings Restaurant in Lord Edward Street is closing.
    That’s the fourth restaurant in the last 3 months that has gone from town.


  • #2240
    lenan
    Registered Users Posts: 64 ✭✭lenan


    Carpet Right is closing. Seemingly a few of the Irish stores have shut.


  • #2241
    sligojoek
    Registered Users, Registered Users 2 Posts: 25,420 ✭✭✭✭sligojoek


    johnire wrote: »
    The Sidings Restaurant in Lord Edward Street is closing.
    That’s the fourth restaurant in the last 3 months that has gone from town.

    Is that the one over the railway bar?


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  • #2242
    _feedback_
    Registered Users, Registered Users 2 Posts: 4,274 ✭✭✭_feedback_


    The relatively newly opened filling station in Castlebaldwin closed again from last night

    https://www.oceanfm.ie/2020/02/06/castlebaldwin-filling-station-has-closed/


  • #2243
    johnire
    Registered Users, Registered Users 2 Posts: 1,535 ✭✭✭johnire


    It is indeed.
    sligojoek wrote: »
    Is that the one over the railway bar?


  • #2244
    Andy From Sligo
    Registered Users, Registered Users 2 Posts: 11,840 ✭✭✭✭Andy From Sligo


    sorry if I am late to the party and that someone already has mentioned it but I think eirhub have gone (or moving) in johnstones court SC (hope they havent gone i loved that gadget shop) and I think the cafe in the quayside (which was Yum-Yums at one time) is closed - Just from observation like , nothing concrete


  • #2245
    Plazaman
    Registered Users, Registered Users 2 Posts: 3,012 ✭✭✭Plazaman


    The Party Boutique in O'Connell Street seems to have closed up shop? Where will we get our wigs and Halloween Costumes now? Oh and crystal Angel's.


  • #2246
    Angela Skinny Sidewalk
    Posts: 0 ✭ Angela Skinny Sidewalk


    Plazaman wrote: »
    The Party Boutique in O'Connell Street seems to have closed up shop? Where will we get our wigs and Halloween Costumes now? Oh and crystal Angel's.

    Try the House of Value or Nice Price. Failing that try Amazon.ie for all that kind of cheap tat.

    There's also a few warehouses in Dublin where you can buy hawkers sh**e in bulk. Great for St Paddys day hats, hammers and tricolour vuvuzelas.


  • #2247
    johnire
    Registered Users, Registered Users 2 Posts: 1,535 ✭✭✭johnire


    Mr Price in Cleveragh would be a good place to look too.

    quote="Plazaman;112543093"]The Party Boutique in O'Connell Street seems to have closed up shop? Where will we get our wigs and Halloween Costumes now? Oh and crystal Angel's.[/quote]


  • #2248
    Andy From Sligo
    Registered Users, Registered Users 2 Posts: 11,840 ✭✭✭✭Andy From Sligo


    Mary's used to be a good place for all that carry on


  • #2249
    Angela Skinny Sidewalk
    Posts: 0 ✭ Angela Skinny Sidewalk


    Andy From Sligo wrote: »
    Mary's used to be a good place for all that carry on

    Did anyone ever buy anything out of Mary's that was not of totally substandard quality? You could buy most about anything but it was all rubbish really.


  • #2250
    Andy From Sligo
    Registered Users, Registered Users 2 Posts: 11,840 ✭✭✭✭Andy From Sligo


    Angela Skinny Sidewalk wrote: »
    Did anyone ever buy anything out of Mary's that was not of totally substandard quality? You could buy most about anything but it was all rubbish really.

    i liked it - great shop , of course dealz and euro store and mr price werent around then.
    i used to go to woods and then walk across the road to marys and then have a bite to eat in the carlton cafe


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  • #2251
    sligojoek
    Registered Users, Registered Users 2 Posts: 25,420 ✭✭✭✭sligojoek


    "Mary's of China"


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