8817 replies to this topic

[UDeMan]

Not Victoria, but involves a Victoria group

https://www.cbc.ca/n...rship-1.6690539

 

Greg Armstrong, Raya Audet and brother- and sister-in-law Nigel and Kerry Springthorpe have sold the business to Four Top, a Victoria-based hospitality group. 

While the new owners have vowed to keep the venue's staff and homely atmosphere, the departure of the team that turned the Alibi Room into the hub of the city's beer scene marks the end of an era. 

 

 

https://www.fourtop.ca/

Four Top is a group of Victoria's top

food and hospitality businesses.

Since 2015, we have focused on acquiring and investing in business that we think are key to the community to ensure they exist for the long-term.

[Victoria Watcher]

Four Top:


https://www.fourtop.ca/#about-section

Edited by Victoria Watcher, 23 December 2022 - 10:51 AM.

[Matt R.]

They have a great portfolio.

[LJ]

Homely atmosphere?

[aastra]

Hey, it works for VV's holiday get-together.

[Victoria Watcher]

McDonald's unveils first automated location, social media worried it will cut 'millions' of jobs

Customers can fully avoid interacting with any humans during their order and pickup

https://www.foxbusin...t-millions-jobs

Edited by Victoria Watcher, 24 December 2022 - 09:25 AM.

[Victoria Watcher]

They have a great portfolio.

I realize they did not buy all these companies outright (ownership is indicated under each). What would be the incentive for some of them to have outside investment? Maybe to buy partners (or their estates, in the case of Ferris’) out?

Edited by Victoria Watcher, 24 December 2022 - 09:29 AM.

[dasmo]

Less responsibility, cash in hand.

[Matt R.]

I think Dave Craggs was involved with ferris’ for a long time, maybe even OG, and maybe the start of their group.

We looked high and low for a partner when we moved here, no takers. Of course after a couple of years I was very glad we didn’t find one.

[Victoria Watcher]

We looked high and low for a partner when we moved here, no takers. Of course after a couple of years I was very glad we didn’t find one.

Yes. I suppose depending how it is structured, it can be disappointing seeing all of your hard work and labour upside results split with a “silent” partner that primarily benefits from your hard work and good decisions.

Edited by Victoria Watcher, 24 December 2022 - 10:20 AM.

[Matt R.]

I think the benefit to ownership groups and investors like this, besides the cash in hand in the moment, is access to larger buying pools, capital for upgrades, and expertise in industry processes that will benefit the bottom line for all.

[Victoria Watcher]

Why doesn’t anybody do “incremental improvements” (I’ll call them)? I know the cost and inconvenience is slightly higher. But it seems to me just reupholstering your chairs as needed, replacing table and countertops, and restroom touch ups are not that hard, as you go.

But it seems to me every restaurant just goes downhill until some “closed for renovations” moment comes up every 5 or 10 years.

I also realize most / many restaurants are not profitable enough to do much.

Edited by Victoria Watcher, 24 December 2022 - 10:30 AM.

[Matt R.]

They do.

Every once in a while you need to shut down for major work though. Plumbing, floors, gas, drywall, painting, carpentry, etc so you tend to wait until you can do a few of these at a time to avoid downtime.

We close a day each year in the fall for a staff party, and end up with a few different trades coming in to work. The rest of the year it’s piecemeal. Restaurants, busy ones anyways, take such a beating that repairs are always ongoing. Rarely is there a day where there isn’t something to fix.

Leasehold improvements are a head-scratcher sometimes too.

[Victoria Watcher]

More Victoria restaurants staying open for Christmas as diners seek options

Steamship Bar and Grill will offer a holiday menu that features turkey, ham and prime rib: oh my!

https://www.vicnews....s-seek-options/

Edited by Victoria Watcher, 24 December 2022 - 02:09 PM.

[Darren14]

Papa Moe's is closing..

 

"Last chance for cheesesteak!

 unfortunately we will be shutting our doors in the new year. It was a fun and enriching experience but it wasn't necessarily the best time to open a restaurant. We wish you all the best. 

Thank-you to all our loyal customers and fans." 

 

https://www.facebook...Cdh76wERmpzWzTl

 

 

This one hurts.. we never had a good cheesesteak place here in Victoria, and Papa Moe's was amazing... the search will be back on 

[Mike K.]

That’s too bad. Just around a year of operations. I’m sure it took a bit to get the place setup, so the lease would have started right around now.

[Ismo07]

That’s too bad. Just around a year of operations. I’m sure it took a bit to get the place setup, so the lease would have started right around now.

 

Ugh I know the owner...  So much crap he had to go through...

[UDeMan]

Biryani Palace has opened in the spot of the recently closed Pluto's and the old San Remo's

[Mike K.]

Oh, what’s that? Middle Eastern food?

[Nparker]

https://en.wikipedia.org/wiki/Biryani