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 who will get the keys of pub after bankruptcy?
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a.s
Starting Member



26 Posts

Posted - 19 November 2008 :  19:28:13  Show Profile  Visit a.s's Homepage  Reply with Quote
I have a pub lease after bankruptsy will the pubco get the keys or the court

John
New Member



United Kingdom
73 Posts

Posted - 19 November 2008 :  21:35:17  Show Profile  Reply with Quote
Hi
it's the OR's decision and will depend on if he thinks there is equity in the lease.

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Reviva UK
Advanced Member

United Kingdom
2452 Posts

Posted - 20 November 2008 :  15:34:37  Show Profile  Reply with Quote
Hi AS

Running a oub at the moment is really difficult - even more so if you are in a lease with the brewery.

You pay over the odds for the drinks, have a high lease to find, smoking has had a massive effect and now we are in a credit crunch. I don't know how you and your colleagues manage every day.

You have a number of questions regarding what to do and when. I assume that you are not a Ltd company and therefore are able to take drawings from the business as income which you will need to use to get set up elsewhere.

If you get your exit strategy right you can actually have moved out and have your new life sorted BEFORE you petition. The key is getting it all done in the right order.

Paul Johns
Assisted Bankruptcy Specialists
Reviva UK

For a Free Impartial Review before taking the leap call me @ Reviva UK
www.revivauk.com
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