Vinyards Closed?

[brk-lnt]

Originally Posted by jetskier

I was talking to a friend who told me that the Vineyards lost their lease in December. So, they are gone. It seems as though they were not honest about what was going on during this time.

Jetskier

How could they lose their lease, unless the building owner has a new tenant going in there that offered a higher lease rate? That story doesn't make any sense, it's not like real-estate is at a prime right now in that area.

The only way I can see them losing their lease is for non-payment of rent.

[jetskier]

Originally Posted by brk-lnt

How could they lose their lease, unless the building owner has a new tenant going in there that offered a higher lease rate? That story doesn't make any sense, it's not like real-estate is at a prime right now in that area.

The only way I can see them losing their lease is for non-payment of rent.

I don't have any color regarding the circumstances of the lease. I would presume that it was for non payment. It is quite odd that they were shut down just before the holidays. There is a sign advertising the space for lease...clearly the owner does not have a preferential tenant.

Jetskier

[brk-lnt]

Originally Posted by jetskier

I don't have any color regarding the circumstances of the lease. I would presume that it was for non payment. It is quite odd that they were shut down just before the holidays. There is a sign advertising the space for lease...clearly the owner does not have a preferential tenant.

Jetskier

That makes sense. When someone says they "lost their lease", it seems to imply (to me) that they would have preferred to keep it, but were not presented an option to do so.

Losing a lease for non-payment is missing the bigger picture of the business not being sustainable. It's really too bad because I think the Vinyards was a really good restaurant in a very poor location.

[Winnisquamguy]

Originally Posted by jetskier

There is a sign advertising the space for lease...clearly the owner does not have a preferential tenant.

Jetskier

The butcher he had on the side has been gone for at least 18 months in the same building, now with Vineyards closed there is not much left opened in that whole building...kind of a shame its a nice building.

[Buck]

The employees were unaware of the closing. Michael Moore, the former Willows owner, was the manager and doesn't understand that you can't discount your products and serve all you can eat buffets and have enough money left to pay all your bills at the end of the week. Operating a restaurant profitablly is not easy. Costs are rising much faster than menu prices do or can, especially in this area. GAs stations change their prices daily with their costs. Most restaurants raise their prices once a year and not always then. Their suppliers raise their prices weekly according to market forces. Coke and the beer distributors raise their prices twice a year faithfully. The state is trying to balance the budget on the back of the state liquor store. Profit margins shrink and business in the current economy is not growing to offset the rising costs. Bottom line is even well managed restaurants are struggling to survive in a very difficult time especially in the Lakes Region with it's small population base. For what it is worth the management and owner of the Vineyards knew they were closing probablly for months.