Oct
02
Want to close my shop, can pay all creditors. But lease contract goes another 2 years. Liquidation avoidable?
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I run a shop but must close. I have enough money to pay all creditors. Only the lease contract with my landlord goes on for another 2 years. No personal guarantee is given. Must I really go into insolvency to get out of the contract? Can there be another way of closing to avoid this?
Quick House Sale
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2 Comments
January 5th, 2010 at 1:03 am
You may be able to sell (‘assign’) the lease .. check the contract.
(I assume you have already checked if you can give notice).
January 7th, 2010 at 1:04 pm
talk to the landlord – maybe he can find someone else quickly and then you would only be stuck paying for a couple of months