“Mike Ryan, proprietor of the CoqBull and Cornstore in the city”
No, overextending and owing €26 Million will shut businesses not VAT.
Lucky to get out of examership, I’d imagine he owns substantially less of the company now.
https://www.irishexaminer.com/news/arid-41269654.html
https://www.irishexaminer.com/news/munster/arid-41349916.html
I was in there recently and left after reading the menu: There's no way in hell the burgers there are worth €21 on their own, and charging €5.50 for chips as well. Far too expensive for what it is. It'll be a shame if CoqBull goes down but it's entirely the boss' fault for putting them in a hole that big.
Whenever this comes up I remember the interview with Donoghue and he stated clearly that the rate was not going to stay at 9% because businesses were fleecing customers regardless of the lower vat rate and they couldn’t justify keeping it low.
Now not every company was/is doing the dog but there’s a high enough number of them that the rate isn’t going to be dropped anytime soon.
Oh I run a cáfe but I want to live like a really rich person, I deserve to have a rich lifestyle and I pay my staff minimum wage and charge you as much as possible to get that lifestyle sure I'm running a business I deserve it, waa waa. /s
Costs exploding, yeah probably. However I've definitely seen places tack on a lil extra, happy excuse to add something to their profits. I doubt that all the price increases were cost related.
Well the majority of places it has. Trying to run a food oriented business is a nightmare. Staffing, cost of living, rates, water, electric
Even something like a bottle of Coca Cola has had like 3 price hikes in just over a year.
We don’t care. For every restaurant/cafe/take-away that closes 2 new ones will open up. So many people want to run their own cafe/restaurant. The ones who can keep their costs down will survive
Yes! I remember my hair dresser being delighted about the VAT reduction and I thought would be a nice lil reduction for me, nope. Not a cent reduced. But she bemoaned when it went back up and said she'd have to put up priced to cover it. A 40 euro wash, cut and blow dry went to 45. Now it's been a while since I was in school, but 5 euro isn't 4%. I did ask and was told 'but everything has gone up!'.
😒
They are the one sector with the paw out constantly. The one sector that had so much free money thrown at them during covid it was ridiculous. If your business lives and dies on 4%, which isn't your money I might add, you don't have a viable business.
“Mike Ryan, proprietor of the CoqBull and Cornstore in the city” No, overextending and owing €26 Million will shut businesses not VAT. Lucky to get out of examership, I’d imagine he owns substantially less of the company now. https://www.irishexaminer.com/news/arid-41269654.html https://www.irishexaminer.com/news/munster/arid-41349916.html
I was in there recently and left after reading the menu: There's no way in hell the burgers there are worth €21 on their own, and charging €5.50 for chips as well. Far too expensive for what it is. It'll be a shame if CoqBull goes down but it's entirely the boss' fault for putting them in a hole that big.
I'm sick of shity businesses looking for the taxpayer to bail them out. Let nature run it's course.
It's not even good food. Barely McDonald's quality with restaurant prices.
Whenever this comes up I remember the interview with Donoghue and he stated clearly that the rate was not going to stay at 9% because businesses were fleecing customers regardless of the lower vat rate and they couldn’t justify keeping it low. Now not every company was/is doing the dog but there’s a high enough number of them that the rate isn’t going to be dropped anytime soon.
Do you have that handy?
Was a radio interview, can’t remember if Rte or newstalk. But I’d say there’s plenty of newspaper articles talking about it too.
Oh I run a cáfe but I want to live like a really rich person, I deserve to have a rich lifestyle and I pay my staff minimum wage and charge you as much as possible to get that lifestyle sure I'm running a business I deserve it, waa waa. /s
I should try it some time, is it?
fools wanting to play elite business men forgetting they run a small business and not MacDonalds
Exactly,
Are these lads serious? It's not the VAT killing them, it's that customers don't want to put up with being fleeced all the time!
You think their costs aren’t exploding too?
Costs exploding, yeah probably. However I've definitely seen places tack on a lil extra, happy excuse to add something to their profits. I doubt that all the price increases were cost related.
Well the majority of places it has. Trying to run a food oriented business is a nightmare. Staffing, cost of living, rates, water, electric Even something like a bottle of Coca Cola has had like 3 price hikes in just over a year.
Why do you think so many, many places are shutting down? Cos they’re all coining it?
Cause they're chancing their arm and people aren't paying.
Not to the level they're increasing prices.
Makes sense so why so many are going under
Load of crap. We are paying 23% VAT on everything we purchase with far less reserves. Could finish me first.
We don’t care. For every restaurant/cafe/take-away that closes 2 new ones will open up. So many people want to run their own cafe/restaurant. The ones who can keep their costs down will survive
Fuck em.
Exactly my thinking.
The price of a dinner going from 15 euro to 25 euro isn't because of the rise of VAT by 4%. Those in glass houses shouldn't throw stones
Yes! I remember my hair dresser being delighted about the VAT reduction and I thought would be a nice lil reduction for me, nope. Not a cent reduced. But she bemoaned when it went back up and said she'd have to put up priced to cover it. A 40 euro wash, cut and blow dry went to 45. Now it's been a while since I was in school, but 5 euro isn't 4%. I did ask and was told 'but everything has gone up!'. 😒
They didn’t reduce prices when the VAT was temporarily reduced. But they sure as hell increased their prices when VAT went back up.
I know. I have little sympathy for the ones who did that.
It’s like as if someone is forcing them to run a hospitality business. If they find it unprofitable, close it and do something else.
They are the one sector with the paw out constantly. The one sector that had so much free money thrown at them during covid it was ridiculous. If your business lives and dies on 4%, which isn't your money I might add, you don't have a viable business.