Western New York IFT’s Post

𝗪𝗵𝗮𝘁 𝗵𝗮𝗽𝗽𝗲𝗻𝗲𝗱? Florence had sold three antique dining tables, each with six beautifully restored chairs, to a customer who had recently opened a French restaurant. However, Florence received no response from the customer after sending an invoice. Despite sending three reminders, the customer still did not respond. To resolve the issue, Florence decided to drive to the restaurant to speak to the owner. The owner explained that he did not have enough funds to pay her and mentioned that the business was slow and it would take a long time to gather sufficient funds. Instinctively, Florence wanted to take back her furniture and contacted her lawyer. Upon reviewing her terms and conditions, the lawyer advised her that in the absence of a ‘retention of title’ clause, the furniture had become the property of the restaurant owner, regardless of whether he had paid the bill or not. 𝗧𝗵𝗲 𝗣𝗿𝗼𝗯𝗹𝗲𝗺: The absence of a crucial clause renders the transfer of furniture and payment as legally distinct transactions. Failure to fulfil- payment obligations does not nullify the transfer of furniture ownership, leaving Florance vulnerable to non-payment scenarios. 𝗧𝗵𝗲 𝗦𝗼𝗹𝘂𝘁𝗶𝗼𝗻: Incorporating a 'retention of title' clause, such as "Title to {the Goods} shall remain vested in {the Seller} until the purchase price for {the Goods} has been paid in full and received by {the Seller}" (Wikipedia), would have safeguarded Florance's interests, allowing her to reclaim the furniture in case of non-payment. Alternatively, this clause would prompt customers to prioritise settling their bills, recognising the furniture's essential role in their restaurant. 𝗪𝗵𝗮𝘁 𝗪𝗶𝗹𝗹 𝗛𝗮𝗽𝗽𝗲𝗻: The inclusion of such a clause prompts two potential outcomes. Firstly, customers are incentivised to settle their bills promptly, understanding the risk of losing possession of the furniture. Secondly, in cases of insolvency, the 'retention of title' clause ensures Florance's priority in reclaiming the furniture before other creditors, offering a measure of protection against financial loss. There are more essential tips for your management of unpaid invoices. Claim your free 'Top 10 essential Tips' now. Email '10 Tips' to [email protected]

Enzo's Beef & Sausage restaurant closed after 75 years in business as a staple in the south Chicago suburb of Chicago Heights. This eatery was located within Bloom Township of Cook County. The business closed after such a long run, for two main reasons: 1.) The grandkids didn’t want to continue to run the family business as they intend to live their own lives. 2.) The real estate property taxes are too high after other commercial establishments have also closed their doors in Bloom Township, thus deferring their piece of the excessive property tax burden to Enzo’s. Both reasons make sense to close-up shop after such an epic run. However, granted the tax rates of Cook County are highest in the southern townships, we’re certain to see more Enzo’s follow suit if nothing changes… #RealEstateTax #CookCounty #ChicagoRealEstate #DataScience #SoftwareDeveloper #DataAnalytics #CommercialRealEstate #ChicagoRealtor #ChicagoHeights #Assessment #TaxAnalyst #Township #Assessor #BoardOfReview #BusinessIntelligence

Florence had sold three antique dining tables, each with six beautifully restored chairs, to a customer who had recently opened a French restaurant. However, after sending an invoice, Florence received no response from the customer. Despite sending three reminders, the customer still did not respond. In an attempt to resolve the issue, Florence decided to drive to the restaurant to speak to the owner. The owner explained that he did not have enough funds to pay her and mentioned that the business was slow and it would take a long time to gather sufficient funds. Instinctively, Florence wanted to take back her furniture and contacted her lawyer. Upon reviewing her terms and conditions, the lawyer advised her that in the absence of a ‘retention of title’ clause, the furniture had become the property of the restaurant owner, regardless of whether he had paid the bill or not. The Problem: The absence of a crucial clause renders the transfer of furniture and payment as legally distinct transactions. Failure to fulfil- payment obligations does not nullify the transfer of furniture ownership, leaving Florance vulnerable to non-payment scenarios. The Solution: Incorporating a 'retention of title' clause, such as "Title to {the Goods} shall remain vested in {the Seller} until the purchase price for {the Goods} has been paid in full and received by {the Seller}" (Wikipedia), would have safeguarded Florance's interests, allowing her to reclaim the furniture in case of non-payment. Alternatively, this clause would prompt customers to prioritise settling their bills, recognising the furniture's essential role in their restaurant. What Will Happen: The inclusion of such a clause prompts two potential outcomes. Firstly, customers are incentivised to settle their bills promptly, understanding the risk of losing possession of the furniture. Secondly, in cases of insolvency, the 'retention of title' clause ensures Florance's priority in reclaiming the furniture before other creditors, offering a measure of protection against financial loss. There are more essential tips for your management of unpaid invoices. Claim your free 'Top 10 essential Tips' now. Email '10 Tips' to [email protected]

New Post: Red Lobster Suddenly Shutters Dozens of Locations Without Warning Employees, Begins Auctioning Off Equipment - https://lnkd.in/dy-fCmse - It's estimated that nearly 99 locations have been closed across 27 states, and restaurant paraphernalia is up for auction online — including tanks with live lobsters, furniture, ovens, refrigerators, bars, and more. - #news #business #world -------------------------------------------------- Download: Stupid Simple CMS - https://lnkd.in/g4y9XFgR -------------------------------------------------- or download at SourceForge - https://lnkd.in/gNqB7dnp

When you hear all these stories about restaurants closing, here is where you go to get crazy good deals on their used FF&E

The average price of a pint has been climbing for decades, and with no end in sight and a cost-of-living crisis, going to the pub has become unaffordable. While Draught Relief measures can provide some financial relief to pubs and breweries, its impact is limited when you factor in rising costs, inflation, and new taxes. If prices keep climbing, we could face a future where the traditional British pub becomes a thing of the past. It’s a sobering thought for anyone who loves their local. That said, there are still pubs out there keeping their prices low, defying the odds and staying true to their communities. Where in Greater Manchester can you still find a good-value pint? Let’s champion the places keeping the pint affordable...

Houston-based dining and entertainment company Landry’s paid $30 million to the estate of George Schwarz, which owns Keens Steakhouse, for the mixed-use building (K4) at 72 West 36th Street in Garment District, Manhattan. The building is the home to the steakhouse founded in 1885. The deal closed on November 15, 2024 and was recorded on November 21, 2024. The property has 16,000 square feet of built space and 36,574 square feet of additional air rights for a total buildable of 52,550 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $1,875 and the price per buildable square foot is $570 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.) https://lnkd.in/e8G6EP3K

To disclaimer this post: A few years ago, there was a restaurant on Victoria and 49th called Grillzilla. It was a small family run business. We would go for ‘Family Fridays’ on a regular basis and watch the Youtube stream of cake makeovers and tiny food kitchen prep. The reviews were excellent, but they ended up reducing hours - taking out their evening dinner menu - and eventually closing shop in the last year or so. The owner Andy and staff who ran the place were always so kind. I miss those interactions. A few weeks ago, I took this picture Cross & Crows Books (2836 Commercial Dr., Vancouver, B.C.). It was taped to the bottom right corner of their point of sale. Nena was having an anniversary sale early as construction was going to block their storefront in the upcoming weeks. We went when the store opened last Saturday and bought books in support. (They do take online orders as well at https://lnkd.in/g8BVkyPk) I don’t own a small business (nor do I ever plan to in the near future), but I realize how important it is to support our local shops and the people who run them. I maybe have bought one book on Amazon (a used nursing text), but the rest have all been at independent bookstores either ordered online via their website or in store. I want to shout out my favourites. I want all of them to succeed. Behind these small storefronts are people supporting our local community and building community in that process. For bookstores: Cross & Crows (Vancouver) Vancouver Kidsbooks Book Warehouse Pulpfiction Books Bolen Books (Victoria) Russell Books (Victoria) #smallbusinesssundays @LOCOBC #BCBuyLocal

Check out our blog post to learn how you can support local businesses and Progress Lakeshore, Inc.'s economic development efforts by purchasing their annual Local Box!

I ate at the Wolseley on Thursday night. My very great friend Meghan Ridsdale booked us in. She knows every eatery in London and is a reliable source of recommendation for anyone’s budget, taste, styling, and expectations. A fabulous building, incredibly busy, great service, and with a modestly priced 'something for everyone’s taste' menu. Anyway, the building was designed as a car showroom for Wolseley in 1921 and is very 'Agatha Christie'. It then became a Chinese restaurant, then Barclays Bank. There is much history in its walls and it has a story to tell. When I asked the team member if he knew its history, he bought over a well-thumbed, plastic pocket binder of photocopied A4 pages showing photos and articles throughout its transformations. This was both kind and informative, but its thrown togetherness was somewhat incongruent to our surroundings. I always wonder why restaurants and venues, that have a story to tell, don’t do so unsolicited, and with some flair: A little commentary on the menu, a QR code, or a table talker? In a time when the industry is struggling to pull in enough trade to cover its rising costs, anything that can engage your customers in a way that is a little less transactional can make a difference.           The other notable difference was their takeaway boxes. Sturdy and branded, not only do they look great, but isn’t it about time we encouraged a reduction in food wastage? I’m not suggesting soup or oysters should be encouraged as travel companions but there is much that would be better eaten than thrown? https://lnkd.in/erAfGCuc