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Stores Closing in Sligo mod warning post #720

bennyc

So 2 Seasons are going which imo is very sad to see and if rumor on the street is to be believed then Currys are not to far behind. I even heard talk the one beginning with A (with a whole lot of fuss getting them here in the first place) it is not supposed to be doing so well.

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[Deleted User]

Am I correct in saying that Parkes in Ballisodare are now the only manned filling station?

mickwat155

Just noticed hunters coal has shut up shop down at at the quays or maybe they moved?

FoxyVixen

mickwat155 wrote: »

Just noticed hunters coal has shut up shop down at at the quays or maybe they moved?

They closed about 2mths back.

mickwat155

Seriously?haha Jesus just shows the last time I was down that way

curtisbrown

Streetcart closed this week

mano79

curtisbrown wrote: »

Streetcart closed this week

They are looking for a new premises. Couldn’t get their lease renewed

johnire

Passione by the Slice in Stephen St seems to be closed.

BronsonTB

mano79 wrote: »

They are looking for a new premises. Couldn’t get their lease renewed

Think it's a more permanent closure now....:(

tommyamnesia

Crozon Inn closing. Tonight is the last night.

Geuze

tommyamnesia wrote: »

Crozon Inn closing. Tonight is the last night.

Given the massive rent of 45,000 pa, I'm not surprised.

https://propertypriceregister.ie/Website/npsra/PPR/npsra-ppr-com.nsf/eStampUNID/UNID-80257B350033545580257D460032741B?OpenDocument

Nearly 1,000 per week to rent a pub in a housing estate nearly 1 mile from the main street.

Crazy rent, needs to fall to maybe 100 per week.

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

mickwat155

Lazat is gone on Grattan street

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.

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

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.

TheKBizzle

Lazat has changed back to Top Taste.

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

littlejp

TheKBizzle wrote: »

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

Seriously???

shanec1928

littlejp wrote: »

Seriously???

https://www.sweetas.ie/

_feedback_

shanec1928 wrote: »

https://www.sweetas.ie/

That is bad news ...

prodsc

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

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.

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.

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.

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.

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.

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.

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.

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

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.

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.