An­other busi­ness bites the dust

Western Suburbs Weekly - - News - By ROSANNA CANDLER

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.”

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