Recent content by savvyshopper

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    Closing Down a Business

    OK thank you for this information. You are correct there is no way I could find £5k to pay an I.P. If someone could give me some guidance as to how to go about doing this yourself legally, this would be great. Also how do I find sponge bobs posts???? Thanks
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    Closing Down a Business

    Would I be best liquidating the company as it could be insolvent and how much does this usually cost to hire an I.P ??? Thanks
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    Closing Down a Business

    Thank you for the advice. I am trying to pay everyone fairly and equally without favouring one creditor over another. I am also working the business free, so I cant see myself being called into question for the final stages of the business and how it was run. What I am wanting to know is how I...
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    Closing Down a Business

    I am a Ltd company.. With personal garuntees on the business loan. The lease is also in my name but its a lease agreement where it was sub letted to me from another business, and they stand as garuntor for that rent. So I am not sure where I stand with this.
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    Closing Down a Business

    I have posted a couple of times in here before. However I have now taken the decision that I need to close my business down. I have not taken on any other debts for the last 3 months and have assets of approx £16,000. However I have debts of VAT = £2,000 PAYE = £500 Stock =...
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    Closing Business Down - Help!

    Hi My recent accounts have just been done and will be having a conversation with him with regards all of this in the next couple of weeks to help make a final decision, although his advice costs money and its free on here, so wanted as much info as possible to help make these decisions. Thanks
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    Closing Business Down - Help!

    Hi. I have already done a store refit 6 months ago to try and revitalise things. However that was my original plan to trade for another 6 months to get the Xmas trade in and also A/W is busier anyway. The only thing is I don't know if it will help my longer term situation in the sense that I...
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    Closing Business Down - Help!

    Thanks for that. I just didn't know if it would put me in a more favourable positions with the banks and other creditors. However I am not that concerned about the money, at the end of the day it is only money. I would rather have my life back. Thank you for posting the link. So As I...
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    Closing Business Down - Help!

    Just a Quick note that may make some difference I have put into this company £180,000 as a directors loan. Dont know if this would make me the preferential creditor.
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    Closing Business Down - Help!

    I am A LTD Company
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    Closing Business Down - Help!

    I am looking to close my business down as it isn't paying to keep it running. Basically I made my only staff member redundant last September to save costs, as I did the figures and it worked that without her the business would be viable. Then we saw another down turn in trade. I am now working...
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    How do discount clothing stores work?

    Hi Rami You are referring to stores like TKmaxx Basically they buy up liquidated stock from companies who have gone pop and they then source stock from brands direct and agree to buy x percentage of their left over stock thats in the warehouse. They buy this stock often at what they bought...
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    Rent Arrears

    Wow I really feel for you kinda in a similar situation but been in business for 10 years now so no how to deal with certain issues a little better. With regards to the rent, write to the landlords, explain your turnover isn't meeting the rent, don't be apologetic in the letter. If you...
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    Buying in to a retail business - feedback req please !

    Hi First of all I would like to say its great there are still some people out there with some entrepreneurial spirit. My advice would be to look carefully at the business, what kind of losses has it been making, what kind of drawings has the present owner being taking out of the business...
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    IVA does it affect being a Director of LTD company

    Hi All. Ok so I have been running my Ltd company for 10 years now. About 18 months we got into trouble. I am starting to turn the business round, made staff redundant, working the business myself and reduced costs. Also recently managed to de-register for VAT as turnover will drop to around...
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