More of the same: retail shops closing due to huge rents:
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"Starbucks wants out of “affluent” Dalkey immediately where it rents the former Dalkey Dispensary on Castle Street for €110,000 a year. It is equally anxious to assign its lease of a two-storey modern coffee shop at The Triangle in Ranelagh where it is paying an even higher rent, €131,622, a year."
These don't seem too bad, 2k-2.5k pw in places where I assume a lot of coffee is drunk???
"Starbucks has also had second thoughts about its branch in Tallaght where it is leasing a ground floor retail unit of 257sq m (2,772sq ft) in Tallaght Cross East at an annual rent of €155,000 or 10 per cent of gross turnover, whichever is greater. The rent is one of the few bright spots in the troubled property portfolio owned by Liam Carroll."
3k pw rent in Tallaght, selling coffees, hmmmmm?????
"On top of the rent, Starbucks also pays rates: €15,300 in Dalkey; €11,259 in Ranelagh; and (wait for it) €23,905 in Tallaght."
Costs are also too high in the local authorities.