Another business bites the dust
FUNTASTICO on Rokeby Road last week became the eighth Subiaco business to shut down in 2015.
Western Suburbs Business Association (WSBA) president Geoff Parnell said there had been rumours for a long time that the once-renowned restaurant was going to close.
“I’m not aware of the specific reasons why they closed, however it does highlight the reduction in retail and hospitality around Subiaco and we need to work with council to increase those numbers,” Mr Parnell said.
Hay Street restaurant Equateur owner Mickael Maillot said high rent in Subiaco forced him to close about two weeks ago.
“It was a disappointment, but at the end of the day, $1100 per sq m was just too high,” Mr Maillot said.
Local designer boutique Merge Clothing moved from The Colonnade to Northbridge on February 4.
Elizabeth’s Bookshop, Kitchen Witch, Ray Clark, Toy World and The Glitter Co also recently closed.
WSBA is holding an information evening on February 23 to help educate business owners about signing commercial lease contracts.
Mr Parnell said the topic was “crucial and timely” to assist retailers and hospitality operators to avoid typical pitfalls when leasing property.
“There have been unfortunate instances in the media recently involving leasing issues and we want to help facilitate more awareness to avoid these situations,” he said.
“Opportunities were missed because business owners had not fully understood the conditions of the lease they had entered into, and in some cases made decisions affecting their future without fully exercising their rights.”