Caribou in Galway closed the other night. Phenomenally successful pub but priced out by their landlords.
Our domestic economy is in tatters
Is it though?
A lot of these Coffee shops closing seem to be a mix of rates, running costs, staff and the big one is competition.
Some of these businesses are operating is saturated markets.
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Surprising to see you turning on your hero Paul Murphy
Thereās a lot of restaurants closing or about to close. Itās a very hard way to make money. Revenue are moving in on warehoused debt
It is not.
Some sectors are being hammered by the rise in overheads, a particular problem for service industries.
Very hard industry to make money in. Overheads are crazy and very labour intensive. Was involved myself for many years but you can end up being a busy fool for minimal reward.
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A right Darcy of cunts there
Ć Womble.
No bidness in hospitality should have warehoused debt during COVID, despite the half hearted bleating of Vintners about reopening etc they all came out of it with more money in the bank and thatās a fact. They were all getting money hand over fist and easily could make Revenue/VAT obligations.
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If in doubt, blame the āmarketā.
Itās never the market interventions they demanded previously that might cause problems!
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A very young fine Gael looking crew
They are rowing back on that now. Restaurants are suffering because of the gouging hotels did with the reduced VAT rate. Thereās a call now for it to be reintroduced for food led business only.
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Thats AI generated.
Dalle - make me a picture of a group of stereotypical young fine Gael weirdos celebrating Leoās birthday.
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Without a few multi nationals filtering their profits though Ireland weād be in shit.
The country is fucking awash with coffee shops and cafes, it couldnāt last
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I dunno how you fix things, everyone wants more money cause everything is getting more expensive, which in turn makes everything more expensive. So everyone is earning more but feeling like they are getting worse off.
A very hard cycle to break without a serious crash.
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The euro doesnāt help. Itās not worth a wank. Controlling your own currency allows some protection against ratesā¦ The ECB has us bent over a barrel.
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The likes of Google are reducing their headcount and pushing more resources into their AI teams.
It was a poor Q4 for a lot of the IFSC crowd too. Lots of talk of restructuring operations.