Can you give an example of what you think a single store EBITDA looks like when the store is operating and what it would be when the store is closed?
If they close a store, they need to get out of the lease. Presumably they do this by entering into a sublease, probably at a slightly sub-market price to incentivize a new renter to hassle with a three party negotiation. Doesn't that incur an ongoing smaller loss associated with the subsidy of that sublease?
Can you give an example of what you think a single store EBITDA...
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