Good Morning,
I signed a 5-year lease in retail 1 year ago, and have now closed the doors. I have been requesting rent relief from the landlord since the beginning of July. I have tried to negotiate with Centre Management and forwarded many emails showing the business accounts to date as to why there is a shortfall every month.
I have never had a reply from the Landlord.
I have now been breached for outstanding rent of 3 months. They have a Bank Guarantee from myself of 3 months rent.
As I can no longer see a way to repay the remaining of the lease which is another 4 years, the business cannot be sold as the fitout is owned by the Landlord. Bankruptcy seems to be only option.
I have never been bankrupt before. Is it for 3 years? Am I still able to travel overseas? Does it apply to all debt in your name including debt in NZ which is a student loan? Car loan? BAS/ Superannuation to employees?
Warm Regards,
I signed a 5-year lease in retail 1 year ago, and have now closed the doors. I have been requesting rent relief from the landlord since the beginning of July. I have tried to negotiate with Centre Management and forwarded many emails showing the business accounts to date as to why there is a shortfall every month.
I have never had a reply from the Landlord.
I have now been breached for outstanding rent of 3 months. They have a Bank Guarantee from myself of 3 months rent.
As I can no longer see a way to repay the remaining of the lease which is another 4 years, the business cannot be sold as the fitout is owned by the Landlord. Bankruptcy seems to be only option.
I have never been bankrupt before. Is it for 3 years? Am I still able to travel overseas? Does it apply to all debt in your name including debt in NZ which is a student loan? Car loan? BAS/ Superannuation to employees?
Warm Regards,