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Three Wise Monkeys.... 16:46 - Mar 18 with 10411 viewsbluebud

...shut down today....all staff fired....what a disgrace.

Byron - alll casual staff paid 5hrs a week...what a disgrace.

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Three Wise Monkeys.... on 16:55 - Mar 18 with 4387 viewsGuthrum

What is the alternative? If the majority of their business has dried up and they can't hang on until any government assistance comes through, how can they pay their staff?

Good Lord! Whatever is it?
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Three Wise Monkeys.... on 16:57 - Mar 18 with 4362 viewshomer_123

Three Wise Monkeys.... on 16:55 - Mar 18 by Guthrum

What is the alternative? If the majority of their business has dried up and they can't hang on until any government assistance comes through, how can they pay their staff?


So many business run that close to the wire that, literally, a week or so of reduced income or no income means this will happen.

If there are no other lines of credit (and even then - would it be right to borrow if you are unsure the business will survive?) what to do?

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Three Wise Monkeys.... on 17:02 - Mar 18 with 4309 viewsReuser_is_God

Not sure TWM have fired all staff, they posted earlier on social media that they're doing a takeaway service on food & drink.

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Three Wise Monkeys.... on 17:06 - Mar 18 with 4268 viewsbluebud

Three Wise Monkeys.... on 17:02 - Mar 18 by Reuser_is_God

Not sure TWM have fired all staff, they posted earlier on social media that they're doing a takeaway service on food & drink.


...delivering until stock runs out mate - it's true.
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Three Wise Monkeys.... on 17:08 - Mar 18 with 4253 viewshampstead_blue

Not sure what to say.

If the business cannot survive and does not have the cash what else can they do?

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Three Wise Monkeys.... on 17:09 - Mar 18 with 4257 viewsStokieBlue

What exactly were you expecting to happen?

How is it a disgrace? It's definitely sad but you seem to think it's malicious? These businesses run thin margins and if demand suddenly goes to near zero then they don't have reserves to run for long.

SB

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Three Wise Monkeys.... on 17:13 - Mar 18 with 4219 viewsmonytowbray

Three Wise Monkeys.... on 17:09 - Mar 18 by StokieBlue

What exactly were you expecting to happen?

How is it a disgrace? It's definitely sad but you seem to think it's malicious? These businesses run thin margins and if demand suddenly goes to near zero then they don't have reserves to run for long.

SB


Should have been closed to claim insurance.

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Three Wise Monkeys.... on 17:17 - Mar 18 with 4194 viewsjeera

Three Wise Monkeys.... on 17:09 - Mar 18 by StokieBlue

What exactly were you expecting to happen?

How is it a disgrace? It's definitely sad but you seem to think it's malicious? These businesses run thin margins and if demand suddenly goes to near zero then they don't have reserves to run for long.

SB


I don't anything about TWM but they seem to be a fairly small affair.

A chain such as Byron you would like to think would be taking some responsibility for its workforce.

The government has proposed some help in the form of no rates for a year and negotiations can not even been given a chance on rents surely, as things as still relatively early days.

Or what 'rescue' packages may be available as yet. It seems a bit jumping the gun.
[Post edited 18 Mar 2020 17:26]

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Three Wise Monkeys.... on 17:19 - Mar 18 with 4174 viewsbluebud

Three Wise Monkeys.... on 17:09 - Mar 18 by StokieBlue

What exactly were you expecting to happen?

How is it a disgrace? It's definitely sad but you seem to think it's malicious? These businesses run thin margins and if demand suddenly goes to near zero then they don't have reserves to run for long.

SB


...no no mate.

You see you're presuming that ALL businesses are in the same position - they're not. TWM Ipswich is profitable and the group has no serious debt. Byron has no debt whatsoever.....both will have access to cheap government money to help tide over a quarter/3 months...no rates for 12 months....rent agreements.

Mabe not provably malicious....certainly not very caring and flies in the face of government advice and public sentiment
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Three Wise Monkeys.... on 17:22 - Mar 18 with 4155 viewsGiant_Midget

Statement on Facebook says that the group the venue belongs to has shut down all its venues until further notice due to CV19. It does say that they'll reopen in due course.
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Three Wise Monkeys.... on 17:23 - Mar 18 with 4135 viewsjeera

Three Wise Monkeys.... on 17:22 - Mar 18 by Giant_Midget

Statement on Facebook says that the group the venue belongs to has shut down all its venues until further notice due to CV19. It does say that they'll reopen in due course.


Ok, well that's interesting.

No info on staff being re-offered their jobs come reopening?

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Three Wise Monkeys.... on 17:28 - Mar 18 with 4100 viewshampstead_blue

Three Wise Monkeys.... on 17:17 - Mar 18 by jeera

I don't anything about TWM but they seem to be a fairly small affair.

A chain such as Byron you would like to think would be taking some responsibility for its workforce.

The government has proposed some help in the form of no rates for a year and negotiations can not even been given a chance on rents surely, as things as still relatively early days.

Or what 'rescue' packages may be available as yet. It seems a bit jumping the gun.
[Post edited 18 Mar 2020 17:26]


They close their doors so the business can survive.

If it's bankrupt they can't claim get any help!
Doh.

If they don't take prudent actions then the banks probably won't help them.

Assumption is to make an ass out of you and me. Those who assume they know you, when they don't are just guessing. Those who assume and insist they know are daft and in denial. Those who assume, insist, and deny the truth are plain stupid. Those who assume, insist, deny the truth and tell YOU they know you (when they don't) have an IQ in the range of 35-49.
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Three Wise Monkeys.... on 17:29 - Mar 18 with 4097 viewsStokieBlue

Three Wise Monkeys.... on 17:13 - Mar 18 by monytowbray

Should have been closed to claim insurance.


If they have insurance - lots of smaller ventures won't have insurance that covers this. A claim will also take time and staff still wouldn't be paid for a while.

You might well be right they should have been closed but once again it's not as simple as you make out.

Still awful for the employees though.

SB

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Three Wise Monkeys.... on 17:35 - Mar 18 with 4054 viewsstonojnr

Three Wise Monkeys.... on 17:13 - Mar 18 by monytowbray

Should have been closed to claim insurance.


They wont have insurance that covers Covid 19 as business interruption cover does not include forced closures by authorities, it's intended to cover physical damage to buildings, and even if theyd gone for an infectious disease cover, most policies name the specific diseases covered, as Covid 19 is relatively new, the chances of it being listed are probably zero on policies taken out within the last few months let alone last year when it didnt even exist yet. Of course policies from now on almost certainly will specify it
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Three Wise Monkeys.... on 18:03 - Mar 18 with 3976 viewsjeera

Three Wise Monkeys.... on 17:28 - Mar 18 by hampstead_blue

They close their doors so the business can survive.

If it's bankrupt they can't claim get any help!
Doh.

If they don't take prudent actions then the banks probably won't help them.


You are too stupid to understand anything so I shall not being taking any lessons or any nonsense from you in any guise.

Feck off.

Stick to your sucking up to all things camouflage.

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Three Wise Monkeys.... on 18:06 - Mar 18 with 3952 viewsmonytowbray

Three Wise Monkeys.... on 17:29 - Mar 18 by StokieBlue

If they have insurance - lots of smaller ventures won't have insurance that covers this. A claim will also take time and staff still wouldn't be paid for a while.

You might well be right they should have been closed but once again it's not as simple as you make out.

Still awful for the employees though.

SB


It's not simple but insurance and immediate government support should have been available.

We're three days in and still no news on employees or self-employed, I know they say it's coming but what's the delay? The budget for the economy was spat out with utter confidence on day two.

I thought the question about why schools are apparently safe yet are being closed was a good one, but I didn't feel like we got an answer. A lot more bumbling than usual.

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Three Wise Monkeys.... on 18:07 - Mar 18 with 3946 viewsCoco

Three Wise Monkeys.... on 17:13 - Mar 18 by monytowbray

Should have been closed to claim insurance.


pretty sure much of the government will have fingers in the city insurance pie.

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Three Wise Monkeys.... on 18:08 - Mar 18 with 3939 viewsjeera

Three Wise Monkeys.... on 18:06 - Mar 18 by monytowbray

It's not simple but insurance and immediate government support should have been available.

We're three days in and still no news on employees or self-employed, I know they say it's coming but what's the delay? The budget for the economy was spat out with utter confidence on day two.

I thought the question about why schools are apparently safe yet are being closed was a good one, but I didn't feel like we got an answer. A lot more bumbling than usual.


A plan should have been available.

That's what's been missing.

Guidance. Professional, sensible guidance.

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Three Wise Monkeys.... on 18:23 - Mar 18 with 3883 viewsLord_Lucan

Three Wise Monkeys.... on 17:13 - Mar 18 by monytowbray

Should have been closed to claim insurance.


1/ Loss of business insurance isn't a blanket insurance for all types of closure, usually it is for fire and floods - of course you can probably get insurance for a pandemic if you asked, just as you can probably get insurance against an alien invasion.

2/ How do you know all these pubs and clubs have any business interruption insurance anyway? I've never bothered with it.

3/ I thought it was made quite clear yesterday by Sunak during the press conference that if anyone has adequate insurance then the fact that they haven't been forced to close by government will make no difference.

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Three Wise Monkeys.... on 18:23 - Mar 18 with 3878 viewsBlueStreak

Three Wise Monkeys.... on 17:35 - Mar 18 by stonojnr

They wont have insurance that covers Covid 19 as business interruption cover does not include forced closures by authorities, it's intended to cover physical damage to buildings, and even if theyd gone for an infectious disease cover, most policies name the specific diseases covered, as Covid 19 is relatively new, the chances of it being listed are probably zero on policies taken out within the last few months let alone last year when it didnt even exist yet. Of course policies from now on almost certainly will specify it


We are finding that insurers are limiting their exposures on Covid by incorporating an inner limit rather than excluding completely. Property owners will be able to claim up to three months loss of rent if the tenant has a rent break clause within their lease but this is generally now in the aggregate over their whole portfolio. Been absolutely crazy over the last few days dealing with client queries and this is definitely going to put a lot of our clients out of business.
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Three Wise Monkeys.... on 18:28 - Mar 18 with 3846 viewsjeera

Three Wise Monkeys.... on 18:23 - Mar 18 by Lord_Lucan

1/ Loss of business insurance isn't a blanket insurance for all types of closure, usually it is for fire and floods - of course you can probably get insurance for a pandemic if you asked, just as you can probably get insurance against an alien invasion.

2/ How do you know all these pubs and clubs have any business interruption insurance anyway? I've never bothered with it.

3/ I thought it was made quite clear yesterday by Sunak during the press conference that if anyone has adequate insurance then the fact that they haven't been forced to close by government will make no difference.


I have to say I'm not so sure.

I have been chatting earlier with the owner of a local pub/hotel/restaurant and he said he needs there to be an official closure to claim.

They're normally packed for lunch and rooms but have to face full on cancellations.

There was no one in and he was sitting there reading a book.
[Post edited 18 Mar 2020 19:14]

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Three Wise Monkeys.... on 19:01 - Mar 18 with 3752 viewsmonytowbray

Three Wise Monkeys.... on 18:23 - Mar 18 by Lord_Lucan

1/ Loss of business insurance isn't a blanket insurance for all types of closure, usually it is for fire and floods - of course you can probably get insurance for a pandemic if you asked, just as you can probably get insurance against an alien invasion.

2/ How do you know all these pubs and clubs have any business interruption insurance anyway? I've never bothered with it.

3/ I thought it was made quite clear yesterday by Sunak during the press conference that if anyone has adequate insurance then the fact that they haven't been forced to close by government will make no difference.


1) The pub and venue owners/managers I know were saying on social they were covered by unforeseen or forced closure. In fact many music venues have appealed for crowdfunding to stay open based on the lack of closure.

2) What you do with your insurance is your business but a lot clearly do.

3) I don’t recall those words but what he said and what we see happening in the hospitality trade don’t add up if that’s the case.

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Three Wise Monkeys.... on 19:02 - Mar 18 with 3738 viewsmonytowbray

Three Wise Monkeys.... on 18:23 - Mar 18 by BlueStreak

We are finding that insurers are limiting their exposures on Covid by incorporating an inner limit rather than excluding completely. Property owners will be able to claim up to three months loss of rent if the tenant has a rent break clause within their lease but this is generally now in the aggregate over their whole portfolio. Been absolutely crazy over the last few days dealing with client queries and this is definitely going to put a lot of our clients out of business.


You work for an insurer? That must be depressing taking those calls and the brunt of the sh1t but being powerless.

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Three Wise Monkeys.... on 19:04 - Mar 18 with 3723 viewsmos

Three Wise Monkeys.... on 17:19 - Mar 18 by bluebud

...no no mate.

You see you're presuming that ALL businesses are in the same position - they're not. TWM Ipswich is profitable and the group has no serious debt. Byron has no debt whatsoever.....both will have access to cheap government money to help tide over a quarter/3 months...no rates for 12 months....rent agreements.

Mabe not provably malicious....certainly not very caring and flies in the face of government advice and public sentiment


Unless you work for them, or can see their ins and outs you have absolutely no right to make the comment.

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Three Wise Monkeys.... on 19:07 - Mar 18 with 3709 viewsjeera

Three Wise Monkeys.... on 19:04 - Mar 18 by mos

Unless you work for them, or can see their ins and outs you have absolutely no right to make the comment.


Neither do you.

What the hell would you know?

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