Sure, but 30 jar candles and a few £2 trinkets wouldn't add up to 24k.
Saving the business isn't why I'm saying dissolution might not be the best option. HMRC could object if they believe you have unpaid debt, or your other creditors could do the same. And although you say that you haven't signed a personal guarantee, you wouldn't want to find out after the fact that a contract you've agreed to does, in fact, have one.
I'm not saying that it's NOT the right solution. It might be. But it really sounds like you're fixated on this and aren't looking at other possible solutions. What you don't want is a disputed dissolution hanging over you for years, and the letters to keep coming.
All I'm saying is that, why don't you at least talk to someone like Lisa. You might come to the comclusion that dissolution IS the right answer, but then you'll have had the opinion of an expert, rather than stories from random people on the internet.
It won't cost you anything, so what have you got to lose?
They do when they’re sold at RRP at £15 each - but I was just using those as an example to demonstrate that the stock isn’t high valued stock items
Wholesale price is about 13k give or take and a lot of the bulk bought products would fetch about 50p at auction due to the nature of the goods and struggle to shift it at an auction
I have spoken to several IP and the majority have said the same thing - they then went ahead and sent emails outlining what I MUST DO so not to avoid directors obligations etc- some of the advice once put into email were projected quite worryingly and that added to my stresses
I haven’t joined the forum without having done anything - I know I may come across as not having a clue in certain areas but I have contacted the business debtline, I have contacted IP, I have tried to reason with creditors.
I have spoken to my accountant prior to this and admitted that I was wrong in not taking his advice, but this was mainly in relation to bill buying stock which made my accounts look like I wasn’t able to make much profit as most of my money went back into stock that was just sitting
Regarding personal guarantees, I looked into this today - I owe 2 main suppliers, these suppliers are not looking to negotiate but there’s no personal guarantee attached
The other 2 creditors agreed to a payment plan …
The creditor that added the additional £3000 compensation cost sent the debt to trade insurance -
I spoke to my old sales rep today and it came to light that the supplier had no idea that trade insurer was refusing my payment proposals …
As the situation has escalated to an unmanageable level, ie the debt has risen by almost double, there’s absolutely no negotiating at this time
I’m certain HMRC will object to strike off
I owe them £1500 but it was passed onto advantis at some point and when I went to address the issue I was told that they didn’t hold the account ( meaning HMRC took it back )
I plan on emailing the supplier tomorrow - the director.
My intention is to offer the stocks back .. at the end of the day I’m not going to sell it and if a bailiff takes it, the monies raised from any such sale risks going to another creditor who possibly got a warrant of control.
I know it doesn’t solve my debt issue with that supplier with immediate effect but I’d prefer that the stocks went back to where they came from rather than to be taken for the purpose of paying a completely different creditor, and it also saves the supplier of those goods issuing enforcements only to levy on their own stock with the view of auction sales ( also makes no sense to do that )
So whilst I know I may come across as not the brightest bulb in the box based on how I’ve conducted my affairs, I have done my research, I have sought advice from various people, I have spoken to debt charities and I have looked at other options
At risk of sounding like those who abuse the system - I just wanna walk away now…
I’m tired
xx
