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Ah ok, I may have been trying to look too deeply then if they were just alluding to the noxious side effects of any write-off. I guess this seemed like the obv
by gingerrr 3y ago
Ah ok, I may have been trying to look too deeply then if they were just alluding to the noxious side effects of any write-off.
I guess this seemed like the obvious next step for them, to me. Considering recent store closures, operational costs have to be close to outpacing revenue at this point so waiting for a potential buyer wouldn't make sense while losing money daily. Especially not when you already planned to divest of the asset - you'd save yourself trouble and time and write off the loss.
So I got curious about what other ramifications I was missing - like maybe those replies were insinuating the foreclosure was an first trickle of a broader collapse in commercial real estate, or something else that wasn't just "SF downtown bad" again.
Thanks for clarifying!