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hi i have been running a pub for 2 yrs and told my area manager

 

Customer Question

hi i have been running a pub for 2 yrs and told my area manager i had to shut it because i was loosing money, they have changed the locks and put somebody else in the pub after 2 weeks.
they are now asking me to pay 6 months loss of rent plus costs which comes to over £23,000.00 if i dont they say they will transfer my debt to my other pub which is with the same company, if they do this that will put me out of business.

what are my options ?

 

Optional Information:
Province/Country relating to question : england

Submitted: 359 days and 8 hours ago.
Category: UK Bankruptcy Law
Value: £11
Status: CLOSED
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Expert:  UK-Justice replied 359 days and 8 hours ago.

Thanks for your question. Please remember to click ACCEPT once you get my answer.

Does the agreement you had with the old pub allow the debt to be transferred?

Is it in your own name rather than a cmpany?

Customer replied 358 days and 12 hours ago.

the pub is in joint name with me and my partner

not sure if debt can be transfered

Accepted Answer

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Expert:  UK-Justice replied 358 days and 12 hours ago.

You need to check the lease or any contract.

If it states the debt can be assigned or transferred then it can.

Otherwise it won't.

It will all be in the detail of the paperwork.

Please remember to click accept so that I am credited for my time. Thank you.

Expert TypeBarrister
Category: UK Bankruptcy Law
Pos. Feedback: 96.4 %
Accepts: 178
Answered: 4/18/2012

Experience: Called to the Bar in 2007

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