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Landlord in trouble
Pobby
Posts: 5,438 Forumite
I have read about people getting out of pub tenancies. My friend us really struggling and the property company is refusing to budge on rent.
Shortly they will run out of money. They have about 22 years on the lease.
If they go bankrupt surely the they wouldn`t be pursued for the remainder of the lease or have I got that wrong?
Shortly they will run out of money. They have about 22 years on the lease.
If they go bankrupt surely the they wouldn`t be pursued for the remainder of the lease or have I got that wrong?
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Comments
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If they are giving it up then I would presume not. Any personal liabilities that originate from before the bankruptcy should be included.
Not much point in personal bankruptcy if they weren't.
However, I know nothing of pub tenancy/leasing arrangements, so that is just an educated (I hope) guess.
There have been a few pub landlords on this board in the past, so hopefully one of them with direct experience can comment?
You friend should also really seek some professional advice some somewhere like:
Business Debtline - Website: Business Debtline Telephone: 0800 197 6026
and/or
National Debtline - Website: National Debtline Telephone: 0808 808 4000Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
Bit of a bump !0
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Punch Taverns or Enterprise Inns?
The lease would be included in the BR, pub bankruptcies are becoming more common, used to deal with 2-3 a week this time last year. Pubs try to trade on through Christmas/New Year before admitting defeat.
Most stories were similar, increased rent, overheads and unhelpful landlords combined with cheaper off licences and smoking ban.0 -
Is the same with retail leases too? Having said that we havent actually signed our lease yet (solicitors dragging heels for over a year) but might be a blessing as was meant to be for 6 years. I presume if ne lease in place yet then we would be free from any ties there after BR? Sorry to but in on oyu thread Pobby. Heres to a brand new start!!;)
Court date March 6th!:j 1 week after BR and feeling pretty good!:j0
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Thanks very much all and you are not butting in at all.
I think you are right. Certainly if you havn`t signed your lease I can see no problem for you. 0
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