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forced to stop trading - can't pay the rent any more
autt86
Posts: 3 Newbie
I have a commercial lease for a retail business, for which the rent is overdue by 10 weeks. I can't pay the rent any more. This is a fixed comemercial lease for 15 years, with 9 still remaining.
I am closing down because the landlord won’t allow me to sell in direct competition with the other business so it has forced me to stop trading. This is after planning permission had been rejected by the council to open a hot food takeaway.
Am I still liable to pay the rent for the renaming 9 years even if the landlord had forced me to stop trading?
Any help would be appreciated.:beer:
I am closing down because the landlord won’t allow me to sell in direct competition with the other business so it has forced me to stop trading. This is after planning permission had been rejected by the council to open a hot food takeaway.
Am I still liable to pay the rent for the renaming 9 years even if the landlord had forced me to stop trading?
Any help would be appreciated.:beer:
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Comments
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Sorry but I don't think there are members here that are too knowledgeable about commercial lettings (be sods law though that one pops up miffed that I've put that LOL).
I can however suggest you visit http://www.landlordzone.co.uk/forums/forumdisplay.php?8-Commercial-Property-Questions and post your query there instead. Good luck
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This is would be in the terms of your lease. What does your lease say, if it has a clause saying you can't operate certain types of business then you have no right to stop paying. If there is no clause then the LL can't enforce what you sell.
I would find it hard to believe though that the lease does not stipulate this, as it is common for a commercial lease to have exclusions in them due to direct competition to other businesses in the area.
Have you had a solicitor look over the lease, he/she would be the best person to tell you what your lease allows or disallows.
Did you know about the exclusions before you signed the lease or were you pinning all your hopes on the take away planning being granted. If so you should have only signed subject to the planning being successful. In the mean time you need to get reading that lease to find out where you stand.0 -
It also depends on if the lease is owned by your buissiness or you. If you personaly then you might be liable, if the lease is in the name of a buissiness and the buissness stops trading then the free holder will not be able to chase an individual for rent.0
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