Help!homeless and up to neck in it!

TTMCMschine

The Bridge in our town was I think a Punch. The people who went into that ended up leaving & losing a lot of money (£60K I think) after less than a year.

bathgatebuyer

gemtur wrote: »

I find it unbelieveable that we have both worked really hard all our lives and payed thousands into the system and now we need help they are closing the doors.

Sorry to hear of your troubles - just wanted to add my good wishes and best of luck to you. The system seems to punish the very people it is designed to protect.

tallyhoh

Hi,

Sorry to hear about your troubles.
I know you have mentioned that staying with your parents would not help mom's condition but I am not positive it will affect the benefits they receive, especially if mom is receiving attendance allowance, Please check it out, it may at least give you some breathing space.

gemtur

Hi everyone, stayin at parents tonight i figured its not so bad for a few one-offs! and thay seem quite happy at the moment!

I wrote a letter to the head of Punch Taverns today and basically told him

'sort me out what im owed or im going public!'

I mean every word of it to! Newspapers, watchdog, panarama the lot!

This is happening to loads of Publicans around the country and it's about time the public were told about it, that way innocent people might stop taking these leases with massive rents and overpriced beer.

I have posted about Punch Taverns on other 'pub trade' websites and they have pressured them into removing the posts!! It seems they are very concerned about the public finding out about the real ' business opportunity' they offer!

Lets see if this post gets removed from the 'powers at Punch!'

Thanks for the support everyone you have given me the strength to fight back!!

hopeless_case_2

good for you they are rip off merchants. Will youget any of your 90k back?

delboypass

Im sorry to sound harsh here but:

if your too slow to work out your making a loss and bail out early, then you shouldnt be in business....

surely you must have done the books every month??
Were you in the red or black??

i am curious though as i was going to go into the pub business and even looked at punch so opened my eyes a little.

WHat homework did you do before entering the pub trade?
DId you look at the previous financial reports etc?
work out budgets and turnovers, net and gross profits?

joeblack066

Have you tried www.gumtree.com for a private Landlord? Or do you have any friends that would be good enough to stand guarantor through an agent? Could you at least rent a roon from someone in a shared house to start with to enable you to get some money behind you? Good luck!

delboypass

seems to be a few punch taverns bankruptees on google...

what is the business model they get you to subscribe to?

http://www.mccambridgeduffy.co.uk/news/Pub%20boss%20hits%20out.html

Similar plights

theunknownstuntman

Bumping this up incase some clever folk can advise some more.

I'm really sorry to hear of this Gemtur, please keep posting and keep your spirits up. (sorry about the pun)

susieh_2

Hello & welcome,

I really can sympathise with you and your situation as we had exactly the same thing happen to us, but with Enterprise Inns. We were managers with Whitbread who sold us to EI and all our redundancy money was given to them for the bond, f&f, vat etc. We were told that we couldn't have our redundancy & walk away due to contracts, etc, etc. We battled for 3 years to keep our heads above water with family helping out as well to the tune of approx £25K. Eventually we gave up & walked away with exactly nothing after years of working 100+ hours each a week.

We went to see a solicitor and was told there was nothing to be done. God I cried so much.

We eventually had to go bankrupt and the or was very understanding and said we were the 3rd couple that week he'd spoken to that week (it was Tuesday), who'd had to declare b/r after running a pub for EI. That was in June 2004.

I know just how you feel and it's so hard and soul destorying but keep battling and hold your head high.

We are now just in the process of buying our own home (I'm really scared and so warey). But things eventually will get better, I promise.

Just to end, my dad always said to us at the time that he'd never known anybody work so hard & long and end up with so little, which was exactly nothing. But we always have the love & support of our famillies which means oh so much.

Good luck

Susieh