I sold one of my stores to a "friend"

I agree with bodegahwy. You are losing time and that time is going to cost you more money. I would also suspect that given the history of the guy who is operating the place I would not place much stock in a mailer turning everything around. Tell me the sales stayed the same then maybe but if the sales have gone down then mostly likely it is an operator problem. A mailer does not fix that. All the signs here are not pointing in the right direction for you. It appears that they operator is not and maybe cannot get the job done. What would many people in his position be likely to do? Grab what money he can, pay no bills, and plan the exit? One or all.