GREY:LGLTF - Post by User
Post by
kim2015on Feb 03, 2016 4:11pm
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Post# 24521616
Toronto Campus Closure
Toronto Campus ClosureLandlords are not pushovers. After the eviction, next step would be lawsuit for damages caused, opportunity cost, and rental income losses until the presmises can be rented to someone else. All leasehold improvements, furniture and equipment will be seized by the Landlord, while KGIC will be facing another write off. What about all the books, student records, staff and student belongings, furnitures, signage, goodwill and reputation costs?
Students will be writing home and tell their agents/parents: "we have been evicted by the school's landlord" in Canada? I am sure this is where the business relationship ends. This type of action by KGIC damages Canada's reputation in the international education sector at large.
This is the second bailiff closure in 30 days, Last one was SEC on Hornby St in Vancouver just before Christmas. Next week be another one?
This is a public company that holds respect from its shareholders, or a school that holds respect from its students, or a business that holds respect from its business suppliers/landlord?