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The Downfall of Circa.... (pg. 4)
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| WittyHandle |
| Obviously. I meant a single personality behind it throughout. |
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| Orko |
Seems like the city truly threw it off by delaying the liquor license. An extra $1.68 million + interest in liabilities, with no revenue.
If that was the city's dastardly plan, it worked perfectly. |
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| Mach X |
| quote: | Originally posted by Big Boss
The Ballroom was such an underutilized room. What a perfect layout for DJ driven events. |
| quote: | Originally posted by PurpleHaze
great post Jay, thanks for the read!
+100000
mirror ballroom was my favourite part of CiRCA...the vibe in that room at some parties was un touched in the main room ... layout, lights, sound, hardwood floor - big plus in my books
anyone remember the Tom Stephan party? that was hands down my most memorable set at CiRCA...:crazy: :crazy: insane party tunes
i have to admit i do miss some aspects of CiRCA - and it was truly one of a kind. i loved the changing themes which were present throughout the club! always gave it a unique feel
its a shame it tanked but some of the times i had there will always be rememberd! RIP |
That room was in EPIC! I saw Gang Bang DJs and Jesse Rose in that room for the Reconnected party a while back... One of the first times I really appreciated the simplicity and impact of LED lighting with those LED scanners on the pillars...
I remember going for DJ Dan and Hatiras and never leaving that room... even when we were the only 4 or 5 people there for Jesse Rose!
Those AD+D and Randomland partys were total fun! |
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| geroin |
| i hated that place but guy gerber party there was really cool |
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| MSZ |
| really wont really miss the place, went to a few good DNB parties along with Tiefschwarz; noticed djs play a little cheesy there... |
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| v-vaughn |
| quote: | Originally posted by Big Boss
The Ballroom was such an underutilized room. What a perfect layout for DJ driven events. |
YES. I miss the Ballroom. The sound was sooooo much better in there than anywhere else in the club.
Man, some really great memories from Circa :) |
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| Playa24_7 |
| quote: | Originally posted by activate
did you read it?
his partner the lawyer was the one who brought in investors.
banks don't charge rates that high.
prison for tax evasion, doesn't equal bad credit. |
"The loans carried interest rates as high as 36 per cent, at a time when traditional lenders would make money available for less than 5 per cent to good borrowers."
Regardless if THESE loans were from the bank or not, they still had crazy interest rates and were the main cause of the clubs downfall.
Also directs it to him not being a good borrower, so his tax evasion obviously has something to do with it.
"The fatal blow would come from the Royal Bank of Canada, which, in March, forced the company into bankruptcy over an unpaid $249,000 loan."
There's one bank loan. |
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| gilboman |
| quote: | Originally posted by Playa24_7
Did anyone actually READ the entire thing? lol. People saying it was a complete flop and didn't make any money, blah blah.
It was almost at capacity many of the nights and would have been making 20% margins. The biggest problem was that Gatien had problems in the U.S. for tax problems before hand, he actually went to jail and was deported back here. To make this club happen he had to get some huge loans, and because of his background, instead of getting 5% interest on some loans like someone with a good credit background would get, he had 36% on the loans. The interest on the loans is what killed the club, after that it was just a domino effect with other bills and created a hole they couldn't possibly get out of. |
umm, it didn't make any money. Were you reading it? It didn't make any money, that's why it closed down lol |
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| gilboman |
| quote: | Originally posted by Orko
Seems like the city truly threw it off by delaying the liquor license. An extra $1.68 million + interest in liabilities, with no revenue.
If that was the city's dastardly plan, it worked perfectly. |
One problem with your theory....The city doesn't issue liqour license lol |
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| Donnie Gryphon |
| quote: | Originally posted by gilboman
umm, it didn't make any money. Were you reading it? It didn't make any money, that's why it closed down lol |
It didn't make any money because the interest payments were so high. |
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| Jayx1 |
| quote: | Originally posted by gilboman
One problem with your theory....The city doesn't issue liqour license lol |
the city has control over the issuance of liquor licenses. They also can delay processes by delaying the sign offs, delaying inspections, and filing grievances and objections with the AGCO. The license may have the province's name on it, but make no mistake that the city has powers to make it almost impossible to obtain one. |
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| *~LiSa-LoO~* |
| quote: | Originally posted by geroin
i hated that place but guy gerber party there was really cool |
I loved it! Such a nice change of scenery and so much to see, with lots of room to dance. Some sketchy sights. lol |
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