I have a reatil business in Orlando, FL.
I am in year 3.5 of a 5 year lease. My retail business is not making it. I am incurring debt trying to keep it open. I am now at the point I have no more money and no way of obtaining any more money to get me through the next 1.5 yrs.
My husband and I had to personally guanteed the lease.
We do not have any assets except our home and 2 paid for cars. We have spent all of our savings trying to get through the term of the lease.
We are now behind 3 months in rent and recg late fees on top of that. Landlord is not willing to help us.
Is the only way out to file bankrupcy?
Can we let landlord know we plan on shutting down business in 3 months and just see what she does?
The way I figure, if I try to make it another year and a half I will be even in more debt and will have to file bankrupcy anyway after we close the business. And I will also owe even more rent b/c of all the late fees.
I am in year 3.5 of a 5 year lease. My retail business is not making it. I am incurring debt trying to keep it open. I am now at the point I have no more money and no way of obtaining any more money to get me through the next 1.5 yrs.
My husband and I had to personally guanteed the lease.
We do not have any assets except our home and 2 paid for cars. We have spent all of our savings trying to get through the term of the lease.
We are now behind 3 months in rent and recg late fees on top of that. Landlord is not willing to help us.
Is the only way out to file bankrupcy?
Can we let landlord know we plan on shutting down business in 3 months and just see what she does?
The way I figure, if I try to make it another year and a half I will be even in more debt and will have to file bankrupcy anyway after we close the business. And I will also owe even more rent b/c of all the late fees.
