Top 5 Things To Do With A Landlord If Your Company Is Going Insolvent with David HillMay 22nd, 2018
- Try and find another tenant to take over the lease so you can assign the lease.
- Work through with the landlord a surrender of lease to legally show that the business cannot continue to trade.
- Ensure you know who is the guarantor on the lease, and if those individuals hold assets – primarily property – in their own name. Because if you break the lease, the landlord is within their rights to pursue them for debt.
- Do not let the landlord bully you into staying in the location and suffering yet more losses. You need to draw a line in the sand and work through the issues once you break the lease.
- You are within your rights to take all your equipment and stock as long as you are not altering the structure of the tenancy. I.e. you will need to leave the fixtures and fittings.
So please make contact with us today. We’d love to help you find a solution.
If Your Business Finances Are Out Of Control, We Can Help.
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David has over 15 years in the insolvency industry – advising clients through restructuring of their business. His clear, “straight up” style provides clients with a strong direction of what they need to do, and how the process will work. As importantly, he brings empathy to the process – which is essential at a “high-stress” time for clients.
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