Terrified to ring business landlord!

Simpsona

I really feel sick at the thought but just so you know why, The lease for the business premises have been dragged out for so long! We have traded for 18 months, expanded and then cut back down in size. Now the Landlord is pushing for a signature on the lease. Now I cant sign it as I know we have to go BR very soon, but I cant delay him, letting him think I'm gonna sign as I'm just not that type of person. Problem is he has let us go quite badly in arrears due to current situation so he is gonna be sooo mad that his risk on us now turns out to be a bad one!:o If it wasnt for the iminent signing of this lease I probs wouldnt say anything but the lease is now ready to sign and he's ringing to ask when we are signing:eek: !

We are being threatened by a couple of the lease hire companies with BR so I thought about just ringing him and telling him how bad things really are, then it wont come as such a shock??? I'll be ill 2moro but have to return his calls!

Any Advice Please????

keepmyhouse

Im frightened of telling my ex (he will be liable for joint debt) even though he deserves it, im scared to death he will go ape sh*t, SO I will tell him I am BR, but i will forget to tell him I did it to myself!!!!!!!!!!

Cowardly yes, but hey you are going thru enough already:)

Its half the truth!!!!!!!!!!!!!!!

JennyGiraffe

Simpsona, yes he is going to be a bit mad, but he'll get over it. These things happen, you didn't set out to have problems with the business or to be behind with the rent, it is one of those things and I'm sure you're not the first, or the last, person that will owe him money.

Take a big deep breath, explain the situation, apologise, and then go and get a stiff drink.

Simpsona

Thanks you two!! Im nearly bubbling in my rose 2nite lol! I did wonder wether it publisised if 'you' made yourself BR or if 'someone else' did??? Like you Keepmyhouse, cowardly sounds good to me!!:o

I decided while OH is at the club with his dad that I would start doing forms online, as soon as I got the page where I had to put my failed business details in my eyes are just welling up, I'm gonna be useless at this! Hubby is really stressed and worried and up til now Ive been the strong one. But I tell you when i'm on my own it breaks my heart! My business is the one that pushed us over the edge, I won £25k on a lottery and ploughed the whole thing into my venture, he always doubted wether it would work but I argued it was the right thing to do! Now I wish i'd just ruined the kids for a year!

Sorry, waffling now! xx

Simpsona

Sad little 'bump' b4 Bed in the hope anyone else has any advice for my dreaded phone call in the morning??? Thanks again to Giraffe and keepmyhouse!! x ite

So_Sad_Angel

Hi Simpsona,

I feel for you as calls like this are not easy .

As you say the best course would be to call him up & explain that `events have taken a turn for the worse` & that you have been threatened BR by the lease hire Co & that in the current economic market place you have reluctantly taken the decision to cease trading. Also that you will keep him informed of the outcome in due course .
Hopefully this will give you a little time & then let the OR deal with the debt.

Alternatively...write to the LL, or if you were signing at solicitors you could ring & tell them rather than direct to the LL.

Good luck

Angex

Simpsona

Thank you, will let you know how it goes later! xx

JennyGiraffe

Good luck this morning, I know all about the tears thing, it took a lot for me to get my head round closing our business. Chin up :-)

Simpsona

Well I'm so rubbish! Didnt ring him, still having 2nd thoughts about wether to speak to him or just wait til the **** hits the fan so to speak??? Worried that if I speak up now he may take action like shut us down early when I still have some customers bookings to honour! UI sooo dont know what to do for the best? Tell him we are in trouble or just keep quiet for what will probs only be 5 weeks or so. Wish I had a crystal ball to see which is best to do! Thanks for all your advice on this! I was actually quite busy at work today and used that as my excuse for not making the call! Like I say tho, maybe I shouldnt let on? Waffling again! x

JennyGiraffe

First, don't apologise!

That is a difficult one, as you haven't signed the lease I can see that you wouldn't want to run the risk of him shutting you down early, but can you really delay the signing for another 5 weeks?
I guess you could try and sound him out by saying that generally things haven't gone as well but you're trying to make the best of it etc etc and see what his reaction is? I should imagine in the current climate it'd make him nervous though.

It is difficult to know what to say to who, and when to say it. When we first got in trouble our landlord was very helpful, obviously a year later that help has long worn off, but he was surprisingly sympathetic at the start, so it might not be as bad as you think if you just tell him that you're in trouble but perhaps not explain the full extent of the problem.

Simpsona

Thanks jenny,
I think he has a slight idea that we are in trouble like (3 months behind with main rent, about 7 months behind on extension we are letting go!) I suspect he's being nice at the mo as he wants our signature on that lease! He may think we have assets that will pay the outstanding lease amount? We dont!

I'm tempted to sound our solicitor out then just wait for landlord to ring us? Then when that happens let him know things are really bad? Tricky! Thanks for taking notice hun! xx