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Thread: Covid19 Bankruptcy Thread

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    Default Covid19 Bankruptcy Thread

    Jcrew

    https://www.cbc.ca/amp/1.5554266

    Golds Gym

    https://www.bbc.com/news/amp/business-52541157

    Anyone heard of any other businesses that are seeking protection or declaring bankruptcy.

    I think that both GoodLife and Gymvmt could have a real problem, more the former than the latter as we all know they are trying to abstain from filing by still collecting fees. I think this is just delaying the problem as they will soon be in a position of providing services from promising to honour those dues + 50%.

    Infact given that I’ve got a good workout thing going at home I don’t think I will be renewing my GoodLife membership.

    Anyway anyone know of any other businesses that operate in Calgary that are affected?

    Please detail your posts as such:

    Company Name:
    Date:
    Type of bankruptcy:
    Honda Dealer(y/n):
    Last edited by nzwasp; 05-07-2020 at 02:58 PM. Reason: guidelines

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    I think many restaurants (big and small) are going to be massacred. Chili's, East Side Mario's, what's left of Kelsey's, maybe even Montana's. Original Joe's has also suffered some setbacks after a huge initial run.
    ^Just guesses but that is a competitive industry with small margins and the increase in takeout might not work for all of them when they needed liquor sales to balance losses on some foods.

    Tiny independent restaurants? I'm guessing they're in serious shit, too. Take a landlord that won't accept delayed payments and they're effed. And, I bet that's pretty common. Perhaps the ones that rely on family labour will have a better chance of pulling through.
    I'm not doom and gloom on all of these, but I think we're going to see big, double digit% reductions in these areas.

    I hope I'm wrong!

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    Restaurants will be destroyed for sure.
    Make the world a radder place, grow a mullet.
    Public Mobile is the best, just like Phil Collins haggard face.

    Quote Originally Posted by The_Rural_Juror
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    no one gives maritimers shit for culturally appropriating donairs.

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    Some members hoping for Honda dealerships as well.

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    Hertz is teetering, will be bankrupt within the week.
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.

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    Quote Originally Posted by 2002civic View Post
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    Some members hoping for Honda dealerships as well.
    Haha beat me to it.

    Happy should subscribe to this thread.

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    And then when businesses start bailing from their retail/commercial space next up is the landlords.... and then municipalities collecting tax revenue will be next (we've already seen this happen in Calgary with all the empty office space).

    Trickle up fucking about to commence.

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    Quote Originally Posted by killramos View Post
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    Hertz is teetering, will be bankrupt within the week.
    AvisBudget group is 3-6 months behind. That whole industry is seeing like 10 percent of normal revenue.
    Make the world a radder place, grow a mullet.
    Public Mobile is the best, just like Phil Collins haggard face.

    Quote Originally Posted by The_Rural_Juror
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    no one gives maritimers shit for culturally appropriating donairs.

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    Quote Originally Posted by ThePenIsMightier View Post
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    I think many restaurants (big and small) are going to be massacred. Chili's, East Side Mario's, what's left of Kelsey's, maybe even Montana's. Original Joe's has also suffered some setbacks after a huge initial run.
    ^Just guesses but that is a competitive industry with small margins and the increase in takeout might not work for all of them when they needed liquor sales to balance losses on some foods.
    They are part of a big enough corporation that I think only some stores will close?
    https://en.wikipedia.org/wiki/Recipe_Unlimited

    Restaurant operations[edit]


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    I didn't know OJ's got swallowed up. Explains all the capital they had to open a bunch of locations. Always good to see a local shop succeed like that.
    Quote Originally Posted by Gestalt View Post
    Im the one with a learning disability....

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    The companies with the biggest wallet will survive. McDonald's, Yum! Brands... They can ride this out.

    JCrew had writing on the wall WAY before COVID. They kept having sales every 2 weeks to dump inventory.


    Quote Originally Posted by Buster View Post
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    The benefit of masks is not known at this time. But we do know it is some non-trivial amount more than zero.

    We also know that the cost of mask use is, essentially, zero.

    So the cost:benefit of mask use is approaching infinity. I'll take that every time. And every time I see someone without a mask, I think they are stupid.

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    I think retail will get hit harder than restaurants tbh. Lots of people are stir crazy and itching to eat out so I think we'll see a decent amount of restaurant traffic once things open up. Though if they limit capacity to 15 still I wonder how that'll go. Can hudsons or really any larger pub actually operate with only 15 guests at a time?

    Retail will be rough though, I imagine lots of people have tightened budgets and aren't gonna rush out and buy clothing or furniture or a bunch of wants right away.
    Nolan

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    Whiting Petroleum

    At this point a differentiation needs to be made between actually bankrupt and bankruptcy protection. I think a lot of companies are going to try for CCAA/Chapter 11 because it's strategic and gives them an excuse to restructure their company, companies like J. Crew are probably done but even a company like Gap is mulling over filing chapter 11 because this will allow them to survive this long enough to make it to the other side.

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    Quote Originally Posted by jwslam View Post
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    They are part of a big enough corporation that I think only some stores will close?
    https://en.wikipedia.org/wiki/Recipe_Unlimited

    Restaurant operations[edit]

    Yes, I guess I was picking on Cara a bit, but they do have suffering brands, already (Swiss Chalet had closed multiple locations within last couple years). And I believe their margins are small and in a competitive segment.

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    Beef shortage is hurting the fast food chains right now.
    NCLH warning of bankruptcy. Took them long enough.
    Last edited by The_Rural_Juror; 05-05-2020 at 09:55 AM.

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    Quote Originally Posted by pheoxs View Post
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    Retail will be rough though, I imagine lots of people have tightened budgets and aren't gonna rush out and buy clothing or furniture or a bunch of wants right away.
    WRT clothing retail, good riddance. Shopping for clothes at a brick and mortar store is awful. I haven't done it in ages; just buy online and return for cheap/nominal fee if the fit or quality isn't what you expect. There's no good reason to go to a mall anymore, and I couldn't be happier about it.

    Similar for furniture, although for bigger purchases it's nice to be able to sit on a couch, etc before you commit.

    edit: All of those Recipes Unlimited restaurants blow chunks, except the Keg. It wont knock your socks off, but it's consistently decent food. Basically, it's Earl's for adults.
    Last edited by cjblair; 05-05-2020 at 10:41 AM.

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    Quote Originally Posted by killramos View Post
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    Hertz is teetering, will be bankrupt within the week.
    Needed a 1 way rental to Van and figured there would be deals and i dont know if this will actually go through or not but i managed to get a 1 way rental to Van for $7.39 with unlimited kms if i let them pick the car. The weird thing was if i changed the pick up time to 1 hour earlier the price jumped to $350. I got the confirmation of the booking so hopefully they honor it and dont give me a cube van lol
    Attached Images Attached Images
    Quote Originally Posted by Mitsu3000gt View Post
    and I did not have the only say in the matter (most people just want it done ASAP and don't care about quality).
    Quote Originally Posted by Mitsu3000gt View Post
    If anything we made a better decision because we had a consensus and were all on the same page.

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    https://www.forbes.com/sites/chuckjo.../#a8a826665e7e


    American government sure as hell will try to save those companies that spent all their money on buybacks before the USD becomes a bubble and collapses.
    Originally posted by beemerm3
    so if we only seen 5 % of the oceans why not drain them or somethin lol or can u even transfer water from one ocean to another??? think of all the stuff u'd find treasures n eerything.

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    Quote Originally Posted by cjblair View Post
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    WRT clothing retail, good riddance. Shopping for clothes at a brick and mortar store is awful. I haven't done it in ages; just buy online and return for cheap/nominal fee if the fit or quality isn't what you expect. There's no good reason to go to a mall anymore, and I couldn't be happier about it.
    That only works if you have a mail-order physique, I cannot buy jeans/shorts/dress shirts and jackets/shoes without trying on. Completely impossible unless it's something I've already tried on and know the exact item, there's no fucking way I am going to order/return/order/return/order/give up every time I want to buy something new.
    Originally posted by SJW
    Once again another useless post by JRSCOOLDUDE.
    Originally posted by snowcat
    Don't let the e-thugs and faggots get to you when they quote your posts and write stupid shit.

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    Quote Originally Posted by JRSC00LUDE View Post
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    That only works if you have a mail-order physique, I cannot buy jeans/shorts/dress shirts and jackets/shoes without trying on. Completely impossible unless it's something I've already tried on and know the exact item, there's no fucking way I am going to order/return/order/return/order/give up every time I want to buy something new.
    This!!
    It's not even about physique. It's about preference of fit, texture, actual colour, etc etc.
    I will not gamble on that. Direct replacements, only.

    You must spread some Reputation around before giving it to JRSC00LUDE again

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