Originally Posted by sastaunik44 (Post 8896823)

I feel like we will see a lot of businesses closing

Originally Posted by Eldorado

Hello beautiful people!!
I have had a day to think about how to word this properly but I am just going to come out with an update on our business.
Due to the unfortunate but necessary closure of Eldorado because of Covid-19, we naturally have zero incoming revenue. The loans that the federal government has come out with, we do not qualify for. We have recently applied for the provincial grant which of course would help us - pending approval - and hopefully receive the full one-time payment amount of $5,000.
We were in talks with our landlords regarding our situation and they have reduced our rent/ops costs significantly but it is still quite unreasonable and unrealistic for us to pay what they are asking at this time.
As of yesterday afternoon, we received notice via email that the landlords have changed the locks to our business and have stated that once we are able to re-open they will discuss how our business operations can move forward.
Yes, we are as shocked as you are and extremely disappointed in their lack of compassion in this unusual situation we are all having to deal with.
But! Do not fear!! Eldorado WILL be back!

Originally Posted by Festivus (Post 8899848)

OTV has shut down in both Regina and Saskatoon (facebook page is gone, google indicates permanent closure). They still have computers they were working on for people (repairs, etc) and are apparently not returning calls or emails.

Originally Posted by one_brick_at_a_time (Post 8899926)

What is OTV?

Originally Posted by StealthGirl (Post 8900002)

OTV sold computer components and did repair work.

Originally Posted by djforsberg (Post 8901060)

This made me think of Techtronics, I think is what it was called. Anyone remember that place? What is it with local computer shops shadily closing as soon as times get rough?

Originally Posted by StealthGirl (Post 8901112)

If OTV is declaring bankruptcy, it may not be as shady as it seems. With bankruptcy, the place has to be locked and all inventory counted. In the inventory, they can assess what does not belong to them. It's part of the process.

Originally Posted by djforsberg (Post 8901219)

What is shady is holding onto people’s personal property with no effort into getting it back to them which would take little effort and cost nothing.

Originally Posted by StealthGirl (Post 8901240)

They can't. If they are in receivership and going into bankruptcy, the auditor has to count everything. What does not belong to them will get returned to the owners, but it can't be removed until after the auditor does the physical inventory. OTV could be charged for removing items from the premises if they tried to return the computers taken for repair.

I don't know they are in bankruptcy, but that would be the procedure.

Originally Posted by Festivus (Post 8899848)

OTV has shut down in both Regina and Saskatoon (facebook page is gone, google indicates permanent closure). They still have computers they were working on for people (repairs, etc) and are apparently not returning calls or emails.

Originally Posted by Crisis (Post 8909615)

Just as an update to this. I walked by the Saskatoon OTV location on Faithfull Avenue yesterday. There's a letter taped to the inside of their glass door for all to see. It's from Concorde Properties, their landlord, dated April 29th and is addressed to OTV Computers and OTV Technologies at that address. Thought the forum participants might find it interesting.

The letter states that, effective April 22,2020, The Tenant's failure to make payment of rental arrears has breached their lease agreement. It also notes that the Landlord is exercising their right to accelerate rent for an additional 3 months and notes the increased amount of arrears incorporating that additional time.

It goes on to say that Landlord has changed the locks and taken possession of the property. It gives the Tenant until May 6th to make arrangements with the Landlord to enter the premises and remove any personal property.

We're certainly going to miss them up here, as we bought basic components (monitors, keyboards, cables, etc.) from them on a pretty regular basis.

Originally Posted by Festivus (Post 8909794)

Interesting. I wonder if they were already behind when the pandemic started. It's also an interesting move for a commercial landlord to be kicking out non-paying tenants right now, considering that there will likely be no new ones for at least a few months, and probably years as this drags on and the full economic shockwaves hit.