Hi,
A friend of mine owns a business in the midlands for 4 years. The lease is a 20 years. It was personally guaranteed, on the advice of a lawyer, which i know was not right.
She is about 4 months behind on rent now and the landlord won't budge. She and her family are mental on what to do.
Under the laws, is there a way that she can restructure, thus paying off suppliers over time....yet move to a much smaller location and keep doing business?
She has about 80,000 in stock now---foot traffic is nearly gone and they are at wits end.
Any advice would be truly appreciated.
A friend of mine owns a business in the midlands for 4 years. The lease is a 20 years. It was personally guaranteed, on the advice of a lawyer, which i know was not right.
She is about 4 months behind on rent now and the landlord won't budge. She and her family are mental on what to do.
Under the laws, is there a way that she can restructure, thus paying off suppliers over time....yet move to a much smaller location and keep doing business?
She has about 80,000 in stock now---foot traffic is nearly gone and they are at wits end.
Any advice would be truly appreciated.