Stores and Restaurants are Falling Fast

➡ Dan from IAllegedly discusses the current state of the economy, focusing on the real estate and restaurant industries. He highlights the closure of a Best Buy store and the liquidation of a property by the Heinz Company, which resulted in a loss of $88 million. He also mentions the bankruptcy of Rubio’s fish tacos, a chain that once had 200 locations but has now closed almost 60. Dan attributes these business failures to economic downturns and high operational costs.
➡ The text discusses two main topics: harmful foods and the decline of Family Dollar stores. It warns about certain foods that are considered healthy but can cause health issues like weight gain and joint pain. It also criticizes Family Dollar stores for their high prices and predicts their closure due to lack of profitability. The text also shares personal stories about consumer experiences and observations of economic slowdown in certain areas.
➡ The speaker discusses several issues: people spending less money on trips, increasing bank closures, potential cyber attacks on hotels causing check-in delays, and a new system at Knott’s Berry Farm where guests can report line-cutters. The speaker also shares a personal story about causing chaos at a hotel by sharing a text service number.

Hey, it’s Dan. Welcome back. You’re watching IAllegedly and I’ve got a good one for you. It’s good if you’re in the real estate liquidation business. It’s great, but a lot to cover today. This is a Best Buy that went down for the count. A lot of things to cover right now about a about an economy that’s just going in the wrong direction. Please hit the like button. Please subscribe to the channel. Comment. Share the video. And today we have a sponsor, Dr. Amy. Plus one thing I want to bring up again is if you guys get any spam, you know, tax and things like that on you know, you see on the video, you know, in the comments, report those things right away.

We all have to be the sheriff’s and you guys have been deputized. Now, this was a Best Buy. Okay, and you can rent this. Who’s going to rent 45,000 square feet in the city of Orange today across from the Orange Mall that went down for the count. Remember the malls of Orange. Remember we walked through that about four months ago before they closed. They’re done. But you’re seeing this more and more and I got a great story sent to me from Aaron. Now, Aaron is a real estate broker out of New York and a professional.

But one thing that’s funny about this was that Aaron sent me a building that the Heinz Company Anyways, they paid 188 million dollars for a seven property campus, 430,000 square feet. And the problem with it was they just liquidated, just sold it for a hundred million dollars. So they paid 188 in 2019 and sold it for a hundred million dollars. Okay, let me see. Let me tell you how much money we’ve been in this. We didn’t. Okay, we lost 88 million dollars in this. Now, this is not some hellhole. This is down the street from a company called Apple.

They’re now the third largest company in the world because number two is now Nvidia, which, you know, does all our AI and everything like that. And the stock’s going to go to $45, you know, $45,000 a share. But that being said, Aaron sent me this great story and Aaron’s in the know. And again, I appreciate professionals like this that, you know, send me things. You’re going to see more and more of this. Now, here’s the thing that I get a kick out of when there was short sales back during the last real estate downturn. Believe it or not, there were some real estate agents that made a tremendous amount of money selling properties and connecting people with buyers.

It took a lot longer to sell properties. You had to get things approved through the bank. But these agents that were diligent, that were good at their jobs, could make a ton of money. And I was telling Aaron, this is the same thing. You’re going to see this happen with office buildings. There are so many distressed office properties right now. Okay, tons of them and you haven’t seen anything yet. But if you, you know, know what you’re doing and you’re into the industry, I have a friend of mine that I grew up with, you know, from elementary school.

He is selling foreclosures now. That’s all he does. Foreclosure properties, doing it on Facebook. Anyways, Tony’s a good guy. Now, there’s a lot of stuff I’m going to show you in this video. We’re going to do a little driving together. It’ll be fun. But I want to show you some restaurants and stores and things like that that just have issues. So let’s get into it. Well, guys, California did it. Rubio’s fish tacos. We’ve heard about this over the last two weeks, how they’re closing locations and things like that. Well, here’s a chain that had 200 locations at one point.

I’m in Santa Ana, California, and this is one of the locations that remained open. They’ve closed basically, you know, almost 60 locations right now. They just filed for bankruptcy. So, you know, this is ridiculous. They’re stating that it’s all the high costs. As they try to look for a buyer, here’s something very unique. Bankruptcy, put all the creditors at bay. They have enough cash to keep the place open right now to pay their employees and to stay open. But, man, this is tragic, guys. It’s absolutely sad because, you know, when you do this to a business and you sit there and say, yes, we’re going to make it so that, you know, you’re going to pay this and it’s going to be great because all the workers are going to make all this money.

No, it’s destroyed a business. Now, think about this. This place, Ralph Rubio started it, and the place had 200 locations at one point, 200. And, you know, the guy was a surfer. Guy went out and he, you know, had fish tacos down in Mexico, took his life into his own hands doing that. But he said, I can do this better, which he did. But like everything, you can’t pay people $20 an hour to work at places like this. It’s just going to destroy everything. Now, I want to tell you guys a quick story that I’ve told in the channel a couple years ago.

And that was the story of a chain called Mervin’s. Mervin’s was like Kohl’s. I mean, I mean, I’m telling you, you could blindfold yourself and go from a Mervin’s to a Kohl’s. And it looks exactly the same other than the fact that they have Sephora’s inside of Kohl’s now. Now, anyways, the CEO of Mervin’s was in debt. I mean, he ran the place and the place was in debt hundreds of millions of dollars. His suppliers got this wonderful idea and they said, you know what, we’re going to not deliver his school line. Now, what Mervin’s was known for a big thing where they made a lot of money was they sold school clothes and school uniforms here in California.

Even some public schools, you have these schools that you have to wear uniforms where you may have to wear, you know, beige pants or beige shorts, white shirt, blue shirt, whatever. They had basically a guideline. So everybody looked the same. And in the poorer communities so that you don’t have gang stuff, they would make people do this. Now, Mervin’s made a tremendous amount of money on this. And what the suppliers did was they said, you know what, this guy’s holding out. He has the money to pay us. So what they did was they came up with this brilliant idea that they shut him off.

They said, we’re not shipping the school clothes till you give us 200 million dollars. I think it was 220 or two. Oh, over 200 million dollars. You got to pay us. And he said, I don’t have the money. And if you do this, you don’t ship the school clothes. We’re going to file bankruptcy. You’re never going to file bankruptcy. Is Mervin’s open right now, guys? Because I haven’t found one. Oh, yeah, they filed bankruptcy and shut down on this. So all those fat cat clothing line people that did this to him, it’s the same thing they just did to hit this guy.

You have the money. You make all this money. You know you’re making all this money. And you’re not making this money. Rubio’s got destroyed because of this. Now, the place is fairly busy right now. It’s lunchtime. But this is tragic, guys. People are losing their jobs. And thank God, you know, you’ve got a location that’s open. And, you know, I like the place myself. But, you know, has everything gone up? Yes. Everything’s gone up in price, guys. It really has. But this is tragic. And what, you know, Governor Newsom did to this state was he did a Mervin’s.

He said, you know what? Yeah, you guys are going to be fine. You make all this money. And you know you don’t. Now, one thing that’s interesting about Governor Newsom is his restaurants don’t have to pay the $20. Oh, this is a different location, Dan. Our high-end restaurants can hire janitors and dishwashers for $13 an hour. This place can’t. Remember that, okay? And if you think that, oh, what’s the difference? What’s 20 bucks going to do? Bankruptcy, guys. That’s what it’s going to do. Now, the Rubio company says they have enough money.

And they’re going to sell the remaining 80 locations. They’re going to look for a buyer that’s going to take this over. Now, most likely, I can only think of some hedge fund or somebody being stupid and buying this place and destroying it like they have so many other times in the past. So let’s hope somebody that buys this place keeps it going and makes it good because this is tragic. But you’re going to see more of this right now. And I’m about to show you another example. Let’s talk about our sponsor, Dr. Amy Lee.

You know, in a world with all the health advances that we have, we’re supposed to be the healthiest country in the world, and we are not. Dr. Amy Lee is a board-certified physician and nutritionalist who has come to realize that there are some foods that we all take for granted in our lives. For example, there’s three main foods that people think are health foods that they really shouldn’t even be eating right now. And in some countries, they’re considered illegal. Banned, okay? So if you go to threeharmfulfoods.com forward slash Dan, you can see Dr.

Amy’s video on how you can get these out of your life and you can reverse your health. You know, think about this. These are health foods that actually cause weight gain, bloating, stomach problems, joint pain, and you can reverse this. Go to threeharmfulfoods.com, the number three, harmfulfoods.com forward slash Dan, and check out the video today. Use the link below. It’s the easiest way to get there. But as we get older and we have our aches and pains, there’s something you can do about it. Check out Dr. Amy’s video today. Now, the next one is Family Dollar.

This store, there’s only a few here in Orange County, but Family Dollar is owned by the people that own Dollar Tree. And the problem that they have is that this place is not making any money. When I take you inside, you’re going to know why. But Dollar Tree right now is doing okay. It just announced that they have an acquisition of 170 99 cent stores. And this place, guys, this place is a joke. I mean, it’s not a 99 cent store to say the least. It’s not a dollar store. It’s a few items in there for a buck.

But it is outrageous. Now, the Dollar Tree brand, and there’s a great story below where the CEO issued a press release and said, we need to determine what we’re going to do with Family Dollar. I’m telling you what they’re going to do. This place is going to close. That’s my prediction. The prices are not cheap in this place. You know, you got a lot of things that are 5, 6, 8, 16 dollars. It’s just not a dollar store. And, you know, that’s not what people want. People don’t want to go spend 11 dollars on soap that they can get someplace else for 4.

So that’s the problem right now. But let me take you inside. Let me show you this place. Now, I have never been in a Family Dollar store before, but very few things are a dollar, if you know what I mean. A couple of dollar 25 things here and there. There’s a tremendous amount of things here that are 15, 16, 18 dollars. And, you know, dog treats, more expensive. Food, I mean, it just, it really blows me away that you’ve got stuff. That’s just a lot. It’s high, the higher prices over everything else. I’m just blown away by this.

So, they have a real problem. And the real problem is that it’s part of the Dollar Tree family and they want to either boost this place up or unload it. So, it’s going to be interesting to see what they come up with. Man, oh man, the prices, you’re just not what I thought. Look at all this stuff, 6 dollars. You know? It’s crazy. It’s crazy. It makes me want to go someplace else. What do you think? So, what do you guys think? I think that this place is done, guys. I think that the CEO of the company, Rick Dreeling, is, you know, trying to put his best foot forward and say, let’s try to get a strategic plan.

But I have a feeling they’re going to either unload these stores or get rid of them right now because I just don’t see anything of value to go to a family dollar store. Correct me if I’m wrong, if you guys like this store. But I think that it’s overpriced. I think it’s trashy and cheesy. How about that? Maybe they’ll hire me to do a commercial and I, allegedly. What do you guys think? Share your thoughts on that one. Let me know, guys. Let me know. Okay? But I just think that this is done.

You’re going to see people that are not going to spend their money unless they’re getting value for it and a good experience. And it’s just a dirty, gross store. Okay? So, let me know what you think, guys. I want to show you guys something that I filmed a couple nights ago. And when I was leaving a baseball game, I was just blown away by seeing this. And I filmed it as a short real quick and uploaded that. But I want to share it with the main channel and get your opinion on this. So, let me know what you think.

One thing that absolutely blows me away is when you leave Anaheim Stadium, where the Los Angeles Angels play, there are all these street vendors that sell hot dogs and stuff after the game. Check this out. I mean, they just go and they set up. Isn’t that wild, guys? Wow. So, no health department approval. You’re at your own risk when you eat this stuff. Who would eat that? Tell me. Who would eat that? I love getting emails from you guys. I love real, true stories of how you interact with the community, how you interact with your purchases, when you shop, when you spend your money, how you earn your money, your vacations, everything.

Brendan sent me a great email about how he bought a six-speed manual transmission. And it was defective, okay? Installed in his car and completely defective. And he was furious about this. And the company was like, no, we’re not going to honor it. No. Who says it was defective? So, he had to go to the extreme of filing complaints and contacting different people to complain about this business to where they finally said, fine, we’re going to give you your money back. So, congratulations to him for getting his money back. And I always love hearing stories like this when you stand up to the man.

Because people right now, all they have to do is be kind. All they have to do is work on their customer service, and everybody will be so much better off. Jane sent me a wild email about the Ozarks. And we’ve seen the TV show, and she has a condo that they’ve had since 2013. And they’ve experienced this for, you know, 11 summers. They go Memorial Day weekend, and, Dan, something was up. Things were slower. There were not the boats out. There was not the parties going on. The grocery stores were dead. The parking lots were dead.

Everything was off right now. And she was just blown away by it. And she was talking to everybody, including a senator that lives down the street from her. So, she lives in the really bad area of the Ozarks. But, I’m kidding. Anyways, what she was saying was, it’s completely off. Once again, guys, you’re going to see more and more people that will not be able to afford to go to the Ozarks or go anyplace else to spend their money and have vacation time. It’s not going to happen. This is going to be the cool-down summer that we talked about a couple videos ago.

And you’re going to see this more and more and more. And that’s what she was responding to. Dan, this is the cool-down. But, you know, again, the people that can afford it are going to go there. She’s still going to go out to dinner. She’s still going to go on to her vacation home that she’s had for 11 years. But she’s like, you’re right. This place is slowing down. People don’t have the disposal income. The senator, the state senator told her, and I’m not going to list the senator’s name, the state senator said, yeah, people don’t have any money right now.

So, this is a problem, guys. This is a problem. And when you’re wronged with a business like Brendan was, you’ve got to fight for yourself. Because people have less business. They don’t want to part with it. They don’t want to give refunds out and things like that. But also, you’re going to see how these restaurants are going to close all around us. You’re going to see businesses close. And it doesn’t matter where it is. Here in the United States or outside of the United States, you’re going to see real problems all over the place.

And you can sit there and say, oh, I’m Mr. Gloom and Doom. I’m a realist, guys. Hey, I’m telling you, every business in my city could close and it wouldn’t affect me, okay? I’ve paid everything off. I have no debt. And I’ve done that for a specific reason, okay? And I’m looking for houses and looking for properties and looking for different vacation places and things like that in due time, guys. And in my fat man old age, all I’m going to do is take it easy, okay? And I’m going to run my businesses and do my stuff, but I’m not spending any money I don’t have to, okay? People have to earn that.

You should earn it. Jane saw this firsthand and was blown away. Like she said, it was a cool down. Let me know what you think. Let me know what you’re seeing as a slow down. Now, again, not every place is, you know, is slowing down. They’re busy restaurants. They’re going to go to Las Vegas again soon on a business trip, and it’s going to be packed in places. It’s going to be, you know, it’s going to be Vegas. It’s going to be crazy. But what you’re going to see is people spending less money right now than they have before.

Let me know what you think about that. Can I huddle in with it? Yes, and I’m going to walk with you in the water. Never know what’s down. I’m going to finish this video with these last couple stories, and Bank of America here in California announced 15 more branch closures. There’s a trend for you. Notice nobody’s building any new branches. Hey, we’re going to add 46 more branches to the Bank of America family. No, they’re closing 15 more here in California. And around the country, you’re going to see more and more bank closures. You’re going to see this go in the wrong direction.

It’s that simple. Remember that. Protect yourself. Make sure you’re aware of this. You know, Las Vegas had another cyber problem this week where they had people that couldn’t check into lovely hotels like Excalibur and the MGM Grand. And had people waiting for hours and hours and hours to check in. And they don’t know if it was a cyber attack, the beginning of something else. But I’m telling you, you’re going to have this happen more and more often where you’re going to see more of the hotels get hit with these problems right now. That’s going to happen.

The next thing, final thing, is, you know, when you go to an amusement park, a big one like Knott’s Berry Farm or Disneyland or Disney World Magic Mountain, you can sign up and register for like a fast pass, which allows you a time like, hey, Dan, show up at 10.15 and you can go on this ride. Okay, we’ll show up at 10.10. You know what I mean? We’ll be waiting there five minutes and hopping the ride. Well, what Knott’s Berry Farm did here in Buena Park, California was they have a new program of snitching.

And that is if you see somebody cut the line, you text us and security will deal with them. Do you know what chaos this will be? This will be funny. Hey, you know, think about it. Somebody doesn’t like the way you look. That guy in the blue shirt, okay, cut the line, throw him out. Hey, what do you mean I cut the line? You’re going to see that. You’re going to see that. Correct me if I’m wrong, guys, but it’s kind of a bad idea. You know what I mean? So I was at a hotel a couple of years ago and the service was horrible.

And I hopped in the elevator and it said, don’t bother calling. And I was talking to myself and said, yeah, I shouldn’t call because you guys don’t do anything. Text us your request. So you know what I did? I went out and shared that text phone number with a bunch of people. So what do you think they did? Hey, I’m in room 6th floor, room 219. I want you to send me towels. Think of the chaos that they got for that, okay? So have a nice day. Please don’t forget to hit the like button.

Please don’t forget to subscribe to the channel and reach out. Hello at iallegedly.com is an email and be kind to one another, okay? Don’t wrap people out that cut in line, okay? And don’t cut in line. Don’t be that person. I’ll see you soon. Thank you. [tr:trw].

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