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1. At the outset, if the shop lease was in the name of the company, you have no liability under the lease to pay the rent. Just because your limited company leased the premises does not mean that the landlord can pursue for the rent. So you can safely stop paying rent in this instance and there will be no repurcussion. However, if the shop lease was in your name, then what you should really do here is to assign the benefit of the lease to someone else. Essentially, carry out an assignment to a new lessee of the shop lease. In that way, you will have someone else carrying the burden of paying the lease and there will be no call on you to pay the rent. Otherwise you will end up making payments for the next five years. In point of law, a lessee is liable for rent until the term of the lease expires.