fredtosser Posted October 19, 2022 Share Posted October 19, 2022 (edited) Hearing on the grapevine that BodyCraft Gym in Castletown have been locked out of the building by the landlord overnight. Edited October 19, 2022 by fredtosser Quote Link to comment Share on other sites More sharing options...
Steady Eddie Posted October 19, 2022 Share Posted October 19, 2022 1 minute ago, fredtosser said: Hearing on the grapevine that BodyCraft Gym in Castletown have been locked out of the building by the landlord overnight. No surprises there. The landlord is known to be hideous to deal with. Quote Link to comment Share on other sites More sharing options...
offshoremanxman Posted October 19, 2022 Share Posted October 19, 2022 23 minutes ago, Steady Eddie said: No surprises there. The landlord is known to be hideous to deal with. Apparently the rent on that place was astronomical. Quote Link to comment Share on other sites More sharing options...
manxfisherman Posted October 19, 2022 Share Posted October 19, 2022 Its a busy gym. I really hope they get things sorted. Mike is sound, he's put his life into that place. 1 Quote Link to comment Share on other sites More sharing options...
Steady Eddie Posted October 19, 2022 Share Posted October 19, 2022 7 minutes ago, manxfisherman said: Its a busy gym. I really hope they get things sorted. Mike is sound, he's put his life into that place. You don’t sort out anything with that landlord. You just lose all your assets. He’s done it loads of times. Quote Link to comment Share on other sites More sharing options...
manxfisherman Posted October 19, 2022 Share Posted October 19, 2022 3 minutes ago, Steady Eddie said: You don’t sort out anything with that landlord. You just lose all your assets. He’s done it loads of times. Who is it? Pretty sure its not Tilliard. Quote Link to comment Share on other sites More sharing options...
NoTailT Posted October 19, 2022 Share Posted October 19, 2022 40 minutes ago, fredtosser said: Hearing on the grapevine that BodyCraft Gym in Castletown have been locked out of the building by the landlord overnight. Everyone is quick to attack the landlord. There has been a listing on the courts schedule for debt management for MOP Holdings vs Bodycratt for many weeks. If you enter a lease but can't pay the rent stated, why is the landlord a bastard?? 2 Quote Link to comment Share on other sites More sharing options...
NoTailT Posted October 19, 2022 Share Posted October 19, 2022 2 minutes ago, manxfisherman said: Who is it? Pretty sure its not Tilliard. Mike Osborne. Quote Link to comment Share on other sites More sharing options...
offshoremanxman Posted October 19, 2022 Share Posted October 19, 2022 25 minutes ago, NoTailT said: Everyone is quick to attack the landlord. There has been a listing on the courts schedule for debt management for MOP Holdings vs Bodycratt for many weeks. If you enter a lease but can't pay the rent stated, why is the landlord a bastard?? The rent is fairly astronomical though by all accounts. Quote Link to comment Share on other sites More sharing options...
2112 Posted October 19, 2022 Share Posted October 19, 2022 22 minutes ago, NoTailT said: Everyone is quick to attack the landlord. There has been a listing on the courts schedule for debt management for MOP Holdings vs Bodycratt for many weeks. If you enter a lease but can't pay the rent stated, why is the landlord a bastard?? You can blame the landlord, whether residential or commercial. If you have a business and can’t afford to pay for your premises, then you have to either seek help, find cheaper alternatives or close. Harsh but it’s life - unless you are well in with IOMG, then help, advice and financial support is no problem. When times were good, people were prepared to pay over the odds for premises, both residential and commercial. It’s starting to really bite now with changing consumer habits, working arrangements and lifestyles, especially since COVID. Quote Link to comment Share on other sites More sharing options...
2112 Posted October 19, 2022 Share Posted October 19, 2022 2 minutes ago, offshoremanxman said: The rent is fairly astronomical though by all accounts. Sadly some people/businesses are prepared to pay at all costs, to them money no object - until things go tits up. 1 Quote Link to comment Share on other sites More sharing options...
NoTailT Posted October 19, 2022 Share Posted October 19, 2022 4 minutes ago, offshoremanxman said: The rent is fairly astronomical though by all accounts. But that would have been the case when they entered the leases? Quote Link to comment Share on other sites More sharing options...
offshoremanxman Posted October 19, 2022 Share Posted October 19, 2022 3 minutes ago, NoTailT said: But that would have been the case when they entered the leases? How much money does the landlord think a gym made over covid? It will be pennies. The world has changed. What a business owner might have thought was sustainable in 2019 radically changed in 2020. Sadly you can’t exit a bad lease unless the landlord let’s you exit a bad lease. I’m not surprised to see this happen if what I heard about the size of the rent is true. 1 Quote Link to comment Share on other sites More sharing options...
The Phantom Posted October 19, 2022 Share Posted October 19, 2022 1 hour ago, NoTailT said: Mike Osborne. No new Ferrari this year then? 3 Quote Link to comment Share on other sites More sharing options...
Mysteron Posted October 19, 2022 Share Posted October 19, 2022 44 minutes ago, offshoremanxman said: How much money does the landlord think a gym made over covid? It will be pennies. The world has changed. What a business owner might have thought was sustainable in 2019 radically changed in 2020. Sadly you can’t exit a bad lease unless the landlord let’s you exit a bad lease. I’m not surprised to see this happen if what I heard about the size of the rent is true. And the Covid landscape probably made gym goers review their membership subscriptions - especially those who only went for a couple of weeks every January to fulfill their New Year's resolutions...but are paying year round. I'd guess that type of membership is relied on by most gyms to stay afloat. 1 Quote Link to comment Share on other sites More sharing options...
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