Cafe Owner
Rising energy costs and high rent arrears made the business unviable. The owner was worried about the personal guarantee (PG) they had signed on the commercial lease and didn’t know if they could ever start a business again.
Location
South Yorkshire
Debts
82,000
Creditors
Debt & Lease Arrears - PG Loans
Duration
10 Weeks
Stock Images Used
Our client says...
Closing my café broke my heart. It affected me both personally and professionally. After years of hard work, rising energy costs and rent arrears made the business impossible to keep going.
I worried constantly about the personal guarantee I had signed on the commercial lease. I was terrified that the company’s failure would spill over into my own life and leave me facing serious financial problems.
The team at Simple Closure stepped in and immediately brought calm back to the situation. They explained the risks around my personal guarantee in plain English and cut through all the legal jargon. They took over every negotiation with the landlord, handled the lease surrender, and secured a manageable settlement on the PG that didn’t ruin my future.
By acting as a professional buffer between me and my creditors, they allowed me to walk away with dignity and my head held high.
I can now start fresh, free from old debts and free from the constant fear of legal action hanging over me.
Outcome
Facilitated a Creditors’ Voluntary Liquidation (CVL) to formally close the books, dealt the personal guarantee and leases.
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