Sir Royalty Income Fund SIRZF

Primary Symbol: T.SRV.UN

Consumer Cyclical Restaurants

SIR Royalty Income Fund (the Fund) holds investment in SIR Corp (SIR). The Funds' investment, SIR is engaged in the business of owning and operating full-service restaurants in Canada. SIR has concept restaurant brands, including Jack Astor’s Bar and Grill, Scaddabush Italian Kitchen & Bar, and Canyon Creek Chop House, signature restaurant brands, such as Reds Wine Tavern, Reds Midtown Tavern, Reds Square One, and The Loose Moose, which are used by SIR under a license agreement with SIR Royalty Limited Partnership (the Partnership. The Fund receives distribution income from its investment in the Partnership and interest income from the SIR Loan. The Fund indirectly participates in the revenues generated under the License and Royalty Agreement through its Investment in the Partnership.

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Sir Royalty Income Fund > Covid cases coming down

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Comment by jcw604on Jan 25, 2021 9:51am

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Post# 32374227

RE:RE:RE:RE:Covid cases coming down

It is because the stock market is forward thinking. By the time when things are back to normal, it is too late to get onto the gravy train. I don't think that SIR is not piling more operational debt but the loan interest. See: EBITDA(1) was $8.4 million in Q4 2020 and Adjusted EBITDA(1) was $2.6 million in Q4 2020, compared to EBITDA(1) and Adjusted EBITDA(1) of $7.1 million and $10.7 million in Q4 2019, respectively. As you said, many restaurants will be closed for good, but the surviving ones will take over their business, because when covid is gone, people will be like being let out of jail and their crave for what they missed doing during the pandemic season will push them into spending money to satisfy that crave. JMHO.

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