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warned of what, can u please answere my question re handing keys back etc
Bailiffs can come in and change the locks. They can seize your goods from the second shop if that shop and assets are under the same name/
If it is a different name then no they can not.
If you went into liquidation and hand the keys back then the Landlord would just become an unsecured creditor.
However the same situation applies, if your second shop is in a different name then the Landlord can NOT take assets etc
If it is the SAME name then yes they can come and take items
Does this clarify for you?
so what are the implications of going into liquidation
The debt becomes unsecured to the Landlord.
Then depending on whether the second shop is in a different names depends on status of that
If it is a different Ltd Co then that will be safe.
i may sound dump but what does this mean
If it is the same then as soon as you enter administration then all debts are frozen
What does what mean please?
If shop 1 is in ABC Ltd and shop 2 XYC then shop 2 is safe.
If shop 1 and shop 2 is ABC Ltd then both shops are at risk
Does that help?
can i get my other shop under another ltd name or sole trader if so what do i do
Not if the lease is already in the name of ABC Ltd
You are fixed by that lease on shop 2 and the name it is in
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They have no right to enter your home.
I don' t think you can save the first shop if the second shop is in the same name
Can I clarify anything?
If the second shop is in the same name, you can not save them
If the second shop is in a different name you can save the second one
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