Rinaldo puts Broadway Theatre up for sale
Considering tomorrow’s date, you’d be forgiven for thinking it was all some April Fool’s practical joke but in reality I don’t think you could make it up.
Today’s Evening Telegraph has reported that Rinaldo Fasulo, the owner of the now closed Broadway Theatre has put the building up for sale to the tune of nearly £4 million. This is the same Rinaldo that has just put his company (03 Leisure Ltd) that was running the Broadway, into administration leaving over half a million pounds in outstanding debts.
an absolute kick in the teeth for every single creditor
Thankfully for Rinaldo though, he had the foresight to ensure that a separate company (Prima Investments) owned the building itself allowing him to sell it on after an arson attack.
This is an absolute kick in the teeth for every single creditor and will surely put a dark cloud over his restaurant Sessions House on Thorpe Road (which I believe is run by another one of his companies, Prima Restaurants Ltd). For me, it’s a shame that Rinaldo hasn’t made any public statement with a view to repaying back some of his customers who support his businesses.
The article in the ET originally allowed comments to be posted but they have since been removed so I can only guess that public outrage got a bit heated.
I have heard on the good old Peterborough grape vine that Ronaldo had to go into adminstation with the Broadway after the fire because nobody had thought to put the alarms on, and therefore he couldn’t get the insurance. He still appears to be a good businness man, separating all his different assets. Good on him if he can sell now.