A anon1 Guest 23 Nov 2008 #1 What are the options for winding up a restaurant business being run as a sole trader that owes debts it will not be able to meet?
What are the options for winding up a restaurant business being run as a sole trader that owes debts it will not be able to meet?
R Rigoletto Registered User Messages 73 27 Nov 2008 #2 eh...its a sole trader, unlimited liability. if it has debts, start worrying because all of the sole traders personal assets are on the table.
eh...its a sole trader, unlimited liability. if it has debts, start worrying because all of the sole traders personal assets are on the table.
D dinjoecurry Registered User Messages 402 1 Dec 2008 #3 its a huge problem as everything you own is on the line try talking to your creditors you may be able to come to some deal on paying a % over time.Dont delay do it now
its a huge problem as everything you own is on the line try talking to your creditors you may be able to come to some deal on paying a % over time.Dont delay do it now