Pay off mortgage and start having fun!

newgirly

Hi vix, the system is text when you leave wherever you are and text when you get home, they just always come home later than the alarms I've set to check

Well today has not been great. Dh went to the accountant to go through everything and although we made a profit last year, looking at this year he is of the opinion we should probably cease trading and cut our losses.

We don't know what to do at the moment, he knew it was bad but we have been here many times before and survived, dh is the one now saying perhaps we should close

The staff we have left are very close to us, one is my little brother and the other two full timers have been there over thirty years and are very good friends, it makes it so much harder.

In theory we can sell up and have some equity left in the building afterwards, ideally though we would like to hang on to the building to rent out, I don think that will be possible though.

Dh has never worked anywhere else and is dyslexic so will find it hard to find another job, and I'm not sure I'm much good at anything really!

wishingthemortgaheaway

Oh no, how sad and worrisome.

I hope you are able to come to some decisions in a peaceful way.

juliejim

Sorry to hear that - hugs

themadvix

So sorry to hear that NG I hope you work something out. And I'm sure you'd both be able to find work - don't be so hard on yourselves, you've got lots of skills!

Moneyfordreams

I think its good he is getting sound advice...

one thing I wished for would have my husband and his accountants to be more clear... would have saved time and thousands...

daisy_1571

Hi my

You said on last page that he could find enough work to keep himself going - is that a serious option perhaps ?

I loooooooove that house, my ideal house indeed. Wonder what it will go for.

As far as the tattoo goes, it's almost people without who are in the minority nowadays, they ain't just for sailors anymore:rotfl: I am hoping he got it in a discrete place so he can show out if he wants rather than on his hand or neck however even that appears pretty mainstream these days. Also I think you answered your own question why he didnt discuss it with you. At the end of the day you're his lovely mum and he doesn't want to fall out but he does want to do what he wants . I texted my mum to tell her about my first, giving her info about style, size and location so she had all the salient facts before I saw her next.......and I think I was 39 :rotfl::T:rotfl::T:eek: i tjink the most important thing about them is you don't get something on the spur of the moment you will get fed up of. I think you all have been fans of that kind of prog for long enough that it means a lot to him and he will be happy with it for a long time. (And don't worry about the old but what will it look like when he's 80 chestnut - none of us will look that great at 80, a 42 isn't going to change that by much :rotfl:)

Daisy xx

newgirly

:rotfl:thanks Daisy, it's on the inside of his arm, so it could be worse I guess!

Not a great day today, after a lot of talking it looks most likely we will be closing soon we have spoken with all the staff individually and together so they know as much as we do at the moment. We will try and finish and send out the work in hand we currently have, but further than that I'm not sure yet.

Initially we were going to try and get an insolvency practitioner to help, but I'm not sure that will be the best route as we could keep the lease and mortgage payments ticking over from our personal offset account until we can sell up - I think us taking control is preferable to stopping payments and the bank taking control of selling.

It's very early days though and we have a lot to sort through and work out.

The staff were upset but not as shocked as we thought, my 52 year old co worker has only ever had this job, since he was 17

Moneyfordreams

Facing up to things is the way forward..... you all have loads of transferable skills and probably loads of contacts... at least there is equity (if I remember rightly )

newgirly

Thanks mfd's , there will hopefully be equity but probably not enough to clear our home mortgage after everything.

Dh is in a very bad way, he didn't sleep at all last night and blames himself. I feel strangely calm, even though we know it was getting worse it's been a big shock. Stupid as it may sound im glad we just had the month we did enjoying ourselves and partying with the kids for their birthdays, it may be the last chance for a long time!

It does all feel odd though as we were getting so close to having money for the first time ever really next year, but I guess it wasn't meant to be that way for us!

I'm trying to look on the bright side and work out what to do now. First thoughts were to use our personal offset money to pay off staff and make lease payments, now I'm thinking we should keep that in reserve for us to live on for however long we need to.

Even if we could find jobs quickly we have a three story factory to clear that cost £10k in specialist movers to get the heavy machinery in, it's not going to be easy sorting it out! So much history everywhere it's so sad, we have photos up of staff working on the same machines in the fifties onwards everywhere, some of whom dh worked with in later years.

It's been going since 1895 - the same year West Ham football club was founded and was originally in the road next to the ground in Upton Park. The lady I took over from lived there her whole life and was in the same class at school as the krays (who she said were horrid unsurprisingly!) it really is an old fashioned business. Sorry I think I'm waffling a bit now, it's just been a sad day

wishingthemortgaheaway

If the business has that much history, could you diversify into a tourist attraction, place schools visit or posh experience?

I get the impression you are printers?? So a group could come, make something then leave with the product. Could school children have their stories printed on a real printing machine?