Help!homeless and up to neck in it!

gemtur

In response to Delboypasses comment,

This was not the first pub business i have had, my first was very sucsessful and i sold it for a decent profit, the profits were then invested into this one. I am also a qualified chef with 10yrs experience and part time door supervisor, my partner also has 8yrs licensed trade experience. So please don't assume this has happened due to lack of experience.

This opinion of failiure being 'the licencees fault' is the very reason that these greedy pub companies are still going. Everybody is blamed apart from them!

My rent was calculated at 27% of my turnover (a fair workable rent is approx 15%)

The price of wholesale beer was so high that to make a 50% return on Guinness (used as example) I would have to charge £3.60 per pint!

Figures speak for themselves, there is a few websites appearing that support our cause too, have a look a www.punchsucks.co.uk

Thanks to everyone with words of support,
Gemma

gemtur

Hi Susieh,

Thanks for the post, it's nice to hear from someone who has come out the other side! if i was to go BR do you think i would get a reasonable early discharge? as i know they deal with these cases alot.

I have had contact with at least 10 other licencees online in the past week who are in the same situation, the figures are really quite frightening.

Thanks for the support

Gemma x

TTMCMschine

Thats really shocking. Amazing to see that the directors at another brewers, Mitchel & Butlers who screwed up with a financial instrument & lost an enormous amount of money to the tune of £391 million (£274 million after tax) didn't lose their jobs, the board wanted the CEO to stay on because of the fantastic job he was doing!

They did however agree not to take a bonus this year.


Its amazing.

hopeless_case_2

Hi did they not tell you what your rent /prices were before you signed or did they give you msleading figures. In answer to the bankruptcy it is one year and then you are discharged as i said before this happened to my friend and it is one year on and she is about to go back into business.(not with punch pubs).

gemtur

yeh, we had the figures when we went in, but they increased once we were in there. They do this a lot! beer is due to go up again soon too!

Sorted out all my outstanding tax returns today....i dont owe them anything!!

Hooray!

Sassamac

crikey what a horrible situation to be. have you spoken to shekter / CAB? were they any help?

hopeless_case_2

hey wonder if the taxman owes you?Would be nice wouldnt it.I must admit i go out and our local is a punch pub and they are struggling not many customers and i will be the first to say the price of drink is extortionate compared to a couple of years ago.