Is the closure of your favorite bar or restaurant imminent?

[TaaSaparot]

On 6/8/2020 at 7:53 AM, TaaSaparot said:

A guy who has made good profits for 13 years, and has continued to pay his staff since the bar closed.

 

Seems a no brainer to re-open as soon as he can to me.

 

Spoke to one of the girls this morning, and they have been told that they start work at the Beer garden again, on the 1st of July.

[Leaver]

2 hours ago, TaaSaparot said:

Spoke to one of the girls this morning, and they have been told that they start work at the Beer garden again, on the 1st of July.

I've been hearing rumors that 1st July is opening day.  I gather that means for alcohol sales. 

 

I wonder whether they will put any restrictions on numbers allowed into venues.

[kinyara]

2 hours ago, TaaSaparot said:

Spoke to one of the girls this morning, and they have been told that they start work at the Beer garden again, on the 1st of July.

Would have been shocked if they didn't, no big surprise there. More interested in developments at the front. 

[TaaSaparot]

[WillyPlatt]

Never in it but spend a lot of time in the area.

This war of attrition will largely depend on what available capital the bar/restaurant owner has and what their alternative is.

Have they family/work or property to go back to in their home countries?

Relationships in Thailand work when the providing farang can keep providing.

That stopped a few months ago and cracks will be beginning to appear in many relationships.

The first of many on Soi Bukhawo.

 

[jacko45k]

According to Stickman. the long term GGB Happy A-Go-Go, will be no more, bar handed back to the landlord as operator was offered no discount, and key money demanded despite the place being closed.

 

That's a big one and an old favourite of mine and of many I would guess.

 

Edited June 14, 2020 by jacko45k

[WillyPlatt]

12 minutes ago, jacko45k said:

According to Stickman. the long term GGB Happy A-Go-Go, will be no more, bar handed back to the landlord as operator was offered no discount, and key money demanded despite the place being closed.

 

That's a big one and an old favourite of mine and of many I would guess.

 

Unbelievable. Sheer greed from the landlord and back handers still wanted.

I know 2 businesses that have had rent reduced. One by 50%.

Whether it is the norm is another question.

 

[TaaSaparot]

6 hours ago, jacko45k said:

According to Stickman. the long term GGB Happy A-Go-Go, will be no more, bar handed back to the landlord as operator was offered no discount, and key money demanded despite the place being closed.

You rely on Stickman for your news?

 

In last weeks column, he was wondering whether Best Friend Beer Bar Complex would ever re-open .... it was demolished in April 2019.

Edited June 14, 2020 by TaaSaparot

[nausea]

Crazy. Don't they understand what's happening. 

[torturedsole]

1 hour ago, nausea said:

Crazy. Don't they understand what's happening. 

They will do, eventually.  By then their shopfronts will be covered by noodle sellers eking out a living. 

[jacko45k]

5 hours ago, TaaSaparot said:

You rely on Stickman for your news?

I would not say rely....where is your source?

[scubascuba3]

13 hours ago, jacko45k said:

According to Stickman. the long term GGB Happy A-Go-Go, will be no more, bar handed back to the landlord as operator was offered no discount, and key money demanded despite the place being closed.

 

That's a big one and an old favourite of mine and of many I would guess.

 

If true I'm glad they handed back the gogo, pointless trying to sell in this environment and landlords need to share the pain.

 

Also bars and restaurants asking for the magic 1m baht, many will be lucky to sell at zero as they still have big monthly liabilities

[chrisandsu]

10 minutes ago, scubascuba3 said:

If true I'm glad they handed back the gogo, pointless trying to sell in this environment and landlords need to share the pain.

 

Also bars and restaurants asking for the magic 1m baht, many will be lucky to sell at zero as they still have big monthly liabilities

Yep I’d just walk . There is some really stupid foreigners in Thailand but no one could possibly be that dumb right now could they ?  Actually that might be a silly question 

[TaaSaparot]

[TaaSaparot]

8 hours ago, jacko45k said:

I would not say rely....where is your source?

Source for what?

[jacko45k]

28 minutes ago, TaaSaparot said:

Source for what?

The fountain of knowledge. 

I actually read it on another forum, a post that cited Stickman... and checked his site. If you learn different, do let us know rather than having a peck at me.

Edited June 15, 2020 by jacko45k

[scubascuba3]

1 minute ago, jacko45k said:

The fountain of knowledge. 

I actually read it on another forum a post that that cited Stickman... if you learn different do let us know rather than having a go at me.

Just be thankful he only posts about bars, restaurants and gogos

[TaaSaparot]

4 minutes ago, jacko45k said:

The fountain of knowledge. 

I actually read it on another forum, a post that cited Stickman... and checked his site. If you learn different, do let us know rather than having a peck at me.

The laugh is, even Stickman himself agrees with me.

[Leaver]

10 hours ago, scubascuba3 said:

If true I'm glad they handed back the gogo, pointless trying to sell in this environment and landlords need to share the pain.

 

Also bars and restaurants asking for the magic 1m baht, many will be lucky to sell at zero as they still have big monthly liabilities

There was a bar on this thread that couldn't even be given away for free early this this year, pre virus.  It was eventually taken over.  

 

If a small bar had the rent of only 50k baht a month,  and they were lucky to sell for 1 million baht 12 months from now, they would have still made a loss when other overheads are placed on the 50k baht a month, such as staff salaries, utilities, tea money etc.  Why bother?

 

It's the large bars that have a harder decision to make.  Their initial outlay would have been quite big.  Do they accept monthly losses for the foreseeable future, in the hope of a turn around, or a buyer appears, or do they walk away and accept the loss of their initial outlay?  A lot will depend on the length of the lease.   Some places may chose to keep paying rent, but keep the doors closed, until tourists of significant numbers start to come back.  

[kinyara]

6 hours ago, Leaver said:

 

It's the large bars that have a harder decision to make.  Their initial outlay would have been quite big.  Do they accept monthly losses for the foreseeable future, in the hope of a turn around, or a buyer appears, or do they walk away and accept the loss of their initial outlay?  A lot will depend on the length of the lease.   Some places may chose to keep paying rent, but keep the doors closed, until tourists of significant numbers start to come back.  

Depends also on how well they managed the distribution of the profits for the years pre shutdown, I talk regularly to someone who is a partner in a sizeable establishment in prime entertainment zone facing exactly the dilemma you describe. They have received favourable rental revision from the start of the closure from their not greedy but realistic Thai landlord and were prudent enough to build up a reserve fund from past profits pre covid which has seen them through cashflow wise, it doesn't get away from the fact they will be running at a substantial loss until their core customer base are able to enter Thailand again. 

[TaaSaparot]

9 hours ago, Leaver said:

There was a bar on this thread that couldn't even be given away for free early this this year, pre virus. 

Why do you keep on harping on and on about this, while leaving out the details of why that was the situation?

[Leaver]

On 6/15/2020 at 5:01 PM, kinyara said:

Depends also on how well they managed the distribution of the profits for the years pre shutdown, I talk regularly to someone who is a partner in a sizeable establishment in prime entertainment zone facing exactly the dilemma you describe. They have received favourable rental revision from the start of the closure from their not greedy but realistic Thai landlord and were prudent enough to build up a reserve fund from past profits pre covid which has seen them through cashflow wise, it doesn't get away from the fact they will be running at a substantial loss until their core customer base are able to enter Thailand again. 

Sounds like a professionally run business.  I wish them all the best.

 

Must be difficult for them to speculate on the return of tourists in decent numbers, that will return their business to profitability.  I am sure their reserve fund is not infinite, nor is the generosity of their landlord. 

 

Whilst I hope many establishments here can sustain months of constant losses and stay in the game, I am not so confident they will, or they even have the desire to. 

 

I wouldn't expect many business owners to throw good money after bad, even in the hope they have something to sell off in the future.

 

 

Edited June 17, 2020 by Leaver

[Leaver]

On 6/15/2020 at 8:21 PM, TaaSaparot said:

Why do you keep on harping on and on about this, while leaving out the details of why that was the situation?

Merely pointing out that long standing, and fully operational bar, with existing staff in place, in a reasonable location, could not be sold for even 1 baht, and that's prior to the virus.

 

For business owners trying to sell now, or hoping to sell in post Covid future, that's not a good sign. 

[kinyara]

I hope the guy that took it over has deep pockets, trying to run 2 bars at a profit for the next 6 months is going to be a major challenge, ignoring how much he is already out over the last few months. Talks a positive game but it must be a worry I would have thought, sounds and looks a bit more desperate every video he puts out. 

[fred110]

KISS on 2nd Road is open. Starting at 8am today.

[jacko45k]

11 minutes ago, fred110 said:

KISS on 2nd Road is open. Starting at 8am today.

Whoope, 49 baht fried chicked with basil leaf on rice with a fried egg!

[TaaSaparot]

6 hours ago, jacko45k said:

Whoope, 49 baht fried chicked with basil leaf on rice with a fried egg!

Wrong!

[kinyara]

At those prices they are clearly targeting the only customers in that area, the construction workers building the condo on the corner of Soi Diana. ????

[Leaver]

7 hours ago, TaaSaparot said:

Wrong!

I wonder what the profit, or loss, is on prices like that?

[kinyara]

I might just make my debut as a reviewer on the restaurant thread.