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Hi everyone.
Not sure if anyone can answer this one, but if not can anyone point me in the right direction for advice.
I'm the director of a retail business and the premises I operate from have 12 years left on the original 18 year lease.
It looks very likely that due to the recession, I will have to close the business within the next couple of months.
I have tried reassigning the lease but to no avail. I am a guarantor on the lease as the company is limited.
My question is, if I close down the business tomorrow and am therefore unemployed, what realistically can the landlord do about the remaining lease on the property?
Not sure if anyone can answer this one, but if not can anyone point me in the right direction for advice.
I'm the director of a retail business and the premises I operate from have 12 years left on the original 18 year lease.
It looks very likely that due to the recession, I will have to close the business within the next couple of months.
I have tried reassigning the lease but to no avail. I am a guarantor on the lease as the company is limited.
My question is, if I close down the business tomorrow and am therefore unemployed, what realistically can the landlord do about the remaining lease on the property?
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