Sir Royalty Income Fund T.SRV.UN

Alternate Symbol(s): SIRZF

Financial Services Asset Management

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 > Closure of 3 Restaurants...

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Post by BlueJay2020on Feb 09, 2021 7:58pm

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Closure of 3 Restaurants...

All at Yonge and Gerrard - another of those 'favourable opportunities' to exit. One is a Scaddabush, one is a Reds, and the other a Duke's (not part of the Royalty pool).
I guess to the extent that it reduces leverage it's a good thing, although the pool is getting smaller and smaller....

No mention of anything offer-related in the press release. And I have had no response from IR to my enquiries. No surprise!

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