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Told at the weekend that I was banging on about getting the creative sector open again on here in the light of the re-opening of bars etc.
It does vex me so, but ultimately it's because there's insight about financing if you dig just a bit below the surface.
(A thread)
It does vex me so, but ultimately it's because there's insight about financing if you dig just a bit below the surface.
(A thread)
This morning Hospitality Ulster are dominating a media narrative about opening 'wet' pubs while theatres and generally the performance sector is silent.
Who can honestly say that they think that opening a theatre would be worse than a wet pub, or many of the things already open.
Who can honestly say that they think that opening a theatre would be worse than a wet pub, or many of the things already open.
Clearly Hospitality Ulster has a job to do & the creative sector has no equivalent. BUT why the push? Why the urgency? I'm going to make an educated guess.
The majority of Belfast city centre pubs are owned by a small number of groups. They continually grow, open new bars etc
The majority of Belfast city centre pubs are owned by a small number of groups. They continually grow, open new bars etc
This requires precise financing. You'll have pubs 1-8 put up as equity to finance the loan to open pub 9.
This cash from thin air model requires all your properties to be bringing in money to finance the loans you've acquired to build your empire. It's a house of cards basically
This cash from thin air model requires all your properties to be bringing in money to finance the loans you've acquired to build your empire. It's a house of cards basically
It sounds like a high stakes game but many Belfast pubs are still run by people who've gone bust once already.
But still no-one wants to go bust and you can imagine what C19 would do to a business model that was continuously trading on the bubble.
You're model is fucked.
But still no-one wants to go bust and you can imagine what C19 would do to a business model that was continuously trading on the bubble.
You're model is fucked.
Anyway compare this with the dominant voices in the performance sector.
Salaried workers in secure jobs, basically saying 'Yes lads, next year is fine'
The optics of both positions are problematic & there's a discussion to be had about what's best for society regarding opening.
Salaried workers in secure jobs, basically saying 'Yes lads, next year is fine'
The optics of both positions are problematic & there's a discussion to be had about what's best for society regarding opening.
But I'm not about to be lectured by the pub sector about businesses closing and jobs being lost.
You built your empires on sand. I've heard one of these owners say publicly that his business has basically been built on a series of massive gambles.
Why do you need a 9th pub ffs.
You built your empires on sand. I've heard one of these owners say publicly that his business has basically been built on a series of massive gambles.
Why do you need a 9th pub ffs.
So in conclusion. Can we stop talking about opening wet pubs as if it's about small village pubs that are driving the narrative? Or that it's about jobs.
We will always need people to sell booze.
What's at stake in my opinion is the monopoly of ownership that currently exists.
We will always need people to sell booze.
What's at stake in my opinion is the monopoly of ownership that currently exists.
One last thing.
The reason I 'bang on' about this is because I see no interrogation of the HospU narrative in the media. Why have I heard more than once wet bars are the worst affected?
Is that where the media is now? If you don't have a sectoral lobby you won't have a voice?
The reason I 'bang on' about this is because I see no interrogation of the HospU narrative in the media. Why have I heard more than once wet bars are the worst affected?
Is that where the media is now? If you don't have a sectoral lobby you won't have a voice?
