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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.


TSX:SRV.UN - Post by User

Sir Royalty Income Fund > Closure of 3 Restaurants...
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Comment by jcw604on Feb 10, 2021 9:16am
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Post# 32523275

RE:RE:RE:RE:RE:RE:Closure of 3 Restaurants...

RE:RE:RE:RE:RE:RE:Closure of 3 Restaurants...
How can you not know about the unpaid rents? They are all in the financial report? Even if they managed to negotiate with their landlord to defer their rent, it will still show up as liability in their report. If the have a positive ebitda, that means that they are not really losing money, but their older loan interests and the marking down of assets value is troubling them. They probably have even assigned a very low value to their downtown restaurants because they are losing money, since they managed to defer the rent for those restaurants. The landlord now paid them out of the lease agreement, and they managed to use those payments to reduce the loan. There is a possibility that the payment received is actually higher than what the marked value of those restaurants are, and they have to book a profit for this transaction.
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