Recent content by Down not out

  1. D

    Negotiating our first lease

    Hi, £600 + VAT sounds right for a full survey. It's usually done once the other heads of terms are agreed. Landlords should insist that the outgoing tenant puts the property in good repair but in practice, this rarely happens, especially if the business failed. If the outgoing tenant made a...
  2. D

    startup cashflow advise

    Hi, If you think you'll need £100k then bank on needing £150k. If you have no money to put into this yourself, I'm afraid you'll struggle to get anyone to lend you anything. I've just been through the journey you're thinking about and had to put up 40% of the total investment in liquid cash...
  3. D

    Viewing A Business With View To Purchase

    Some good pointers from people. Another thing to check which sometimes catches people out is asking for the VAT returns. These should match any accounts or claimed sales figures. Remember this, very few people sell small businesses which make money. And "I'm selling to pursue other business...
  4. D

    Negotiating our first lease

    It is quite common for commercial premises to be leased on a FRI basis. The only exception would be property part of a larger complex. If you are taking on a FRI lease make sure to get a thorough schedule of dilapidations done and then agree any exclusions. For example, if the roof is shown to...
  5. D

    Closing Help

    You mention a letter above but I can't see it? If the account is in the Ltd Companies name there's zero they can do to you personally. They may apply for a CCJ, let them. I would write to them explaining that you've applied to have the company struck off the register and invite them to apply...
  6. D

    Can't afford Liquidation

    Hi, I think the advice would be the same as it was for me. Get your DS01 form sent out! I've done mine today to all creditors along with a letter inviting them to wind the company up, we'll see what happens next.
  7. D

    Closing Help

    Hi, Sorry to hear about your troubled times. I was in a similar position and made the decision to close my business within a year of opening. Whether sales will improve over time is something you will have to think hard about. The cost of keeping your shop open should be your deciding...
  8. D

    Can't afford Liquidation

    Thanks Bob, your plan will make a huge difference to my situation. I'm not bothered whether it goes through a formal liquidation process or not. I have nothing to hide or anything to be fearful of. But for £10 and a few letters, it should force someone's hand. Many Thanks.
  9. D

    Help and advice needed

    Hi, This may have been resolved now but as you're in the first year of employment, it's difficult to get the result you want. I have no idea of the circumstances which lead to this event. Are you able to comment of what evidence came to light during your absence? If they wish to...
  10. D

    Can't afford Liquidation

    Thank you for the link, very useful. Sounds like thisis the plan for me. I don't have any assets and no overdrawn DLA's. I have no objections to any creditor filing a winding up order as I have nothing to hide. If one of them does object to the striking off application do they have to...
  11. D

    Can't afford Liquidation

    Hi, I invested in a restaurant franchise which is basically dead within a year. There are no assets to speak of as all the equipment etc was purchased using asset finance so I hold no title over it. I wanted to close the business down properly but I just can't afford the liquidation fees...
See more
Top Bottom
Community
Articles
Menu