Have been lurking on these forums for about 6 years now and have not needed advice and support until now First I'd like to say that we will be using the @Spongebob Plan to 'Wind Up' this Limited Company with absolutely no funds left. Big vote of thanks to Bob from Bikini Bottom Back in June 2018 my 40 year old daughter and her partner, a chef, decided to 'take on' a local pub. 6 year lease with yearly rent paid quarterly. My daughter, a divorcee with a mortgage free house and savings foolishly agreed to fund this venue. She works part time at a local school as a TA. Set up fees came to about £53,000 including buying the lease. They worked hard with a great staff team and turned the place around with good support from the locals. Good food and drinks meant that the pub should have been a goldmine. However it soon became apparent that outgoings were exceeding the income. From what I can work out numbers cash injections were required to keep it solvent. These came from my daughters savings and loans from 'bank of dad' etc. The business was set up as trading as a Limited Company with our daughter as the sole Director. Then at the beginning of October 2019, not being able to meet their mounting debts, they decided to 'walk away' from the pub! Up to this point I was not allowed to interfere. However, my daughter, was absolutely distraught for letting everyone down including herself. Savings now all gone, she had to turn to me for help and even borrow £100 for food shopping for her and our granddaughter. There's worse to come..... Now asked to help, she turned to me and slowly I am beginning to peel back the layers and find out the true extent of the failed business. Over the next few days I can give basic details of how we dealt with the pub lease and how we intend to deal with the numbers creditors. My daughter disclosed to me that at the beginning of April 2019, with mounting debt, she signed up a Loan Agreement entitled "Unregulated and Secured Hire Agreement" with a certain Secured Finance Company I have a copy of the agreement and can go into details later. Initial reading shows that the hire schedule is based on appliances, fixtures and fittings at the pub! Having defaulted on the monthly payment this company have attempted enforcement and I was authored to speak to their Collection Dept. An interim payment was made with respect to the monthly payments by 'bank of dad' buying us more time: How much was loaned - £40,000 Monthly repayments - 60 x £1405.20 Settlement figure? - about £90,000 The operative stated that my daughter was personally liable and would have to sell her house to pay this off..... WTF is going in here then? So the BIG QUESTIONS are: Is my daughter personally liable for this business debt or is it her Limited Company? After only a few months is the huge settlement fee realistic?