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Thread: Fortune Mart, etc, etc

  1. #1
    daanlungsod is offline DI Member
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    Default Fortune Mart, etc, etc

    We had read that Fortune Mart was moving but their workers tell us that the store will close this month and they will be unemployed. We've heard assorted chismis about machinations involving various oligarchs while the downtown seems to be growing more shabby with derelict storefronts and more equally deserted shoe stores and fashion outlets.

    We enjoy casing merchants like Fortune Mart and Times Merchatile regularly to find treasures, particularly imported items and some local gems. The big supermarkets seem to stock the same stuff from the same distributors with little left to chance.

    Has anyone here seen the plan?

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    firefly is offline DI Member
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    One of the chismis says that Fortune mart will open again in Dr. V Locsin street, between Perdices street and the back of Tops & Bottoms.




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    Dave & Imp is offline DI Member
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    Default the story on the street about Fortune Mart

    We well the story I heard was the following. It is third party, from one of the former tenants of where Fortune Mart was going to move, so I do not guarantee the facts:

    The building that Fortune Mart is presently in was put up for sale and offered to the owner of Fortune Mart, but he did not want to buy the entire building only his part. The building was sold and Fortune Mart was given 4 months to move.

    The owner of Fortune Mart had a full building master lease where Sta. Teresa was located. So Fortune Mart owner decided to move there. Having written a 30 day notice into the lease he chose to only give the tenants 30 days after waiting 3 or his 4 months’ notice time. Those owners quickly had to relocate. Tenant meeting did not go well, but the building owner heard of the issues.

    Fortune Mart owner then went to extend his lease to 2025 +/_ with the owner of the building as his master lease was only good for a few more years. In the meantime the building owner learned of his treatment of the small business tenants and decided not to extend his lease. They are also read their lease which restricted him from altering the building and it interior divisions. They chose to keep their lease restrictions. Fortune Mart then stopped pulling out the tenant improvements decide to abandon his lease.

    So now it seems that Fortune Mart is closing, the multi-tenant building is empty and most of the small tenants have spread out over town to new. The building owner seems to have been left with a disaster looking building with no income.

    Quite a mess on man seemed to create by acting the way he did.

    This was told to me by one of the previous tenants of the building, and may or may not be factual totally or even in part.

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    daanlungsod is offline DI Member
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    Thanks for the update. Let's hope they find a new site and reemploy their workers, who are older and much more pleasant than most.

    Meanwhile, the facade of the old Mart One continues to collapse onto the sidewalk, and the 'new' golden arches looks nowhere close to a grand opening. Is it true that the owner is a big loser at the cockfights? The Essencia Hotel however is really looking grand and should be a big boost to the local economy.

  5. #5
    KTM
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    Quote Originally Posted by daanlungsod View Post
    Let's hope they find a new site and reemploy their workers, who are older and much more pleasant than most.
    Except for the 'sour faced prune', usually 'person-ing' the 'bag drop' at the entrance in the mornings.......! Ok, well maybe even her.....
    Life is tough, but it's even tougher if you're stupid.

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    joseph domaille is offline DI Member
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    word from inside is they finish trading on the 15th of this month the staff are paid off on the 30th , sad that so many long term employed loose their income.

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    simple mind is offline DI Member
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    What nobody mentioned yet, is, that Fortune Mart has a Branch at the entrance of "Eco Ville" in Talay along the Dumaguete- Valencia High Way, it's called "Fortune Mart 2", it's a place I would call a "Convenience Store" much smaller than the main branch...
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    joseph domaille is offline DI Member
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    Default change of fortune

    fortune mart have a change of mind they now close on the 22 ot this month and are having a EVERY THING MUST GO sale may be worth a look .
    cheers

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    Knowdafish (09-15-2012)

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