Tweedy Group - The Aftermath

dayshah

eiresandra wrote: »

Rubys had their ten year anniversary party last year.... so there's your answer... 27 years left!

What was it before Ruby's? That Jazzbar?

AdMMM

I thought the lease would have expired once the company entered into receivership allowing the receiver to renegotiate?

blackstufflad

I. think that if the reciever has not handed back the keys and has continued to operate the business then they are bound to pay the rent and continue to insure the building and maintain it . But if they try to hand back the keys there may be a case that the landlord will not except them and still ask for rent. In the case of bankrutpcy , there are different rules as usually the business is not operating and the building may be empty. The landlord would not benefit by renegoiating the lease unless the business was going to survive, because lowering the rent would not necessarily mean the business would survive . Complicated I think ????

giles lynchwood

Ledger wrote: »

Well i'm sorry giles but i dont know how long exactly, rubys is open. If i knew this i wouldnt have asked



Ledger

i am in the same boat as you regarding Ruby's,was not trying to be smart,but i knew someone would have the answere.
LYNCHWOOD.

jayboi

Id imagine it would be a preference for the receivers to have the lease on Rubys terminated as the lease at the moment would be fairly high and the agreement would probably be for it to increase a percentage every year,
if it was terminated then it could be renegotiated at a much lower level which would in turn make it a more attractive business to investors.

So no wonder the owner of the lease doesnt want it back/canceled

Ledger

Giles: no bothers. Jayboi: if they did so, the owner might not necessarily agree a new lease with 'woodman inns ltd' (the company name of rubys and woodman), but may lease out to another party willing to pay top price for the great, successful location. So they cannot take the risk in my opinion.

dayshah

AdMMM wrote: »

I thought the lease would have expired once the company entered into receivership allowing the receiver to renegotiate?

I don't see why the landlord wouldn't be treated just like any other creditor, and that it would be up for renegotiation.

I mean, why would the landlord lose nothing while other people lose tens of thousands,and more for the banks.

Odats

Generally leases would have opt out clauses, break clauses after so many years and such in them and contingencies for surrendering on liquidations, receivership, bankruptcy etc.
Lease could have being surrendered and a new short term lease taken out or transferred to receiver until due course.

giles lynchwood

Suffice to say,the landlady in question is one tough cookie and does not suffer fool's gladly.:pac:

abouttobebanned

That's an understatement

AdMMM

I'm glad that all properties have been given a lick of paint (with exception of Masons, I think). It really adds to the area and would almost convince out of towners that they aren't going into a dive!

I was out last night and first went into Escape which was pretty empty (we still spent a lot there as we much prefer giving our money to a face we know than a bank). On the other hand, Ruby's was packed. I didn't get the chance to break down the demographics of the place but it would seem that a lot of students think that Ruby's is the only place to go out. While it would be a waste of time and money to make any sort of effort to win over their business now, I think a concerted effort should be made by Flash and co to target areas around the college come September. The Tweedy Group had an association with the student union for years and that association is still very much alive in the minds of many students.

MidlandsM

AdMMM, you were always giving money to the bank when you spent money in a tweedy establishment. Nothings changed.

AdMMM

True, but at least and knew that he was contributing a lot back through sponsorships and the like. Now that they're all being run by bean counters, the community probably won't see a fraction of what it did under Bob.

giles lynchwood

the bank's are not the bad guy's here,the fact the venue's are still open mean's employment and revenue in waterford which benefit the community long term.

abouttobebanned

The receivers have done a U-turn on redundancies though.

I'll leave Adyx do the talking on this one but it's beginning to look VERY messy.

dayshah

AdMMM wrote: »

True, but at least and knew that he was contributing a lot back through sponsorships and the like. Now that they're all being run by bean counters, the community probably won't see a fraction of what it did under Bob.

Given how things turned out it was the suppliers and banks money that was given out in sponsorship, not his own.

abouttobebanned

Dayshah...that's a very cynical way to look at it. It's money that could have gone back into the company.

If a bar has a charity quiz do you say that it's just because they want more punters in the door to drink?

Just about every business person in the town owes the banks a lot of money...if they support something, is that just the bank supporting something? In fact, I owe the bank a few bob...was it them who sponsored the girl down the road who was doing a sponsored walk?

dayshah

abouttobebanned wrote: »

Dayshah...that's a very cynical way to look at it. It's money that could have gone back into the company.

If a bar has a charity quiz do you say that it's just because they want more punters in the door to drink?

Just about every business person in the town owes the banks a lot of money...if they support something, is that just the bank supporting something? In fact, I owe the bank a few bob...was it them who sponsored the girl down the road who was doing a sponsored walk?

I am fairly cynical when it comes to the alcohol trade.

You could say that a table quiz does bring in mid-week customers. In fairness though, if you have a publican who gives money for a sponsored walk it probably coming from his back pocket.

What sort of sponsorship did bob do? I know he sponsored lots of WIT things, but I would consider most of that advertising rather than generosity.

Adyx

abouttobebanned wrote: »

The receivers have done a U-turn on redundancies though.

I'll leave Adyx do the talking on this one but it's beginning to look VERY messy.

To be perfectly honest I don't know what to say. All I can think of are several words and phrases that aren't suitable for posting here. I would be better off if they had closed the place down, even if I do get redundancy in the future it'll be worth ****-all since I only get about 14 hours a week now.

Ledger

Adyx wrote: »

To be perfectly honest I don't know what to say. All I can think of are several words and phrases that aren't suitable for posting here. I would be better off if they had closed the place down, even if I do get redundancy in the future it'll be worth ****-all since I only get about 14 hours a week now.

sorry to hear it man.

giles lynchwood

5/03/10."The Tweedy's appeared to have LOST SIGHT of their responsibilite's to their employee's."Ms.Justice Mary Finlay geoghegan.Irish High Court.

abouttobebanned

What's the point of that Giles?

seanwindle22

abouttobebanned wrote: »

What's the point of that Giles?

sorry to hear about your case mate, to be honest mr twee*y does not give a **** about his employees and to read about him last week in the local paper on about setting up a consortium to go back into business after he washing his hands on all his debts and employees . he does not deserve to be supported in what ever he does in the future. looking after number one is all ****head.

Sully

abouttobebanned wrote: »

What's the point of that Giles?

Assume he is getting mixed up between tweedy and the receivers.

fishfindus

Who is selling these off and what are the guide prices sought! Haven't seen them advertised. Receivers must have to be seen to be getting best prices?

Adyx

fishfindus wrote: »

Who is selling these off and what are the guide prices sought! Haven't seen them advertised. Receivers must have to be seen to be getting best prices?

Sherry Fitzgerald Rohan. They haven't been advertised for sale yet afaik.

jo06555

Adyx wrote: »

Sherry Fitzgerald Rohan. They haven't been advertised for sale yet afaik.

I hear on radio today , rubys muldoons and oxygen are to be put up for tender next week , will they remain as nightclubs and pubs i wonder...

Ledger

jo06555 wrote: »

I hear on radio today , rubys muldoons and oxygen are to be put up for tender next week , will they remain as nightclubs and pubs i wonder...

rubys and woodman probably would but i wouldnt be so sure about muldoons and oxegen

Link to story.


Ledger

abouttobebanned

I'd say he already knows exactly who will take over those premises.

ToxicPaddy

dayshah wrote: »

What was it before Ruby's? That Jazzbar?

Yup, thats what it was called, but I think it was called the Jazbah or Jasbah not sure of the spelling.. and that opened in Spring/Summer or 1995.

I was one of the first staff working there, moved down from the Pulpit.. Jeez I feel old