Pre-insolvency advice Commercial Leases

The team at Bell & Company help business owners across the United Kingdom, Northern Ireland and Republic of Ireland, who find themselves in financial difficulty for one reason or another.

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Commercial Leases

Reduced cash flow, bills stacking up, and the effects of the Covid-19 pandemic can make paying commercial leases difficult. With so many financial pressures on businesses these days, this is an increasingly common scenario.

What Happens if you Can’t Pay Your Commercial Lease?

Failure to pay on time can result in swift legal action from Landlords in order to recover losses. They may not even have to take legal action to go down this route.

Recovery action can include:

    • Issue a County Court Judgment against your business
    • Repossessing the premises
    • Repossessing assets under Commercial Rent Arrears Recovery (CRAR) legislation
    • Applying to wind up your company or make you bankrupt if you’re a sole trader

Update: Currently, the Coronavirus Act protects tenants. The Government introduced this to block landlords from acting against tenants who fall behind on rent. They extended these measures through to March 2022 but, they have now expired. This will put many tenants in a vulnerable position and it is important to act now to clear arrears.

What to do if you can’t pay your commercial lease
Contact your Landlord

Although they may be the last person you want to talk to, negotiating is the best option when faced with cash flow issues.

Whether your problems are temporary or more long-term, it is important to ensure your landlord is informed to make sure they understand you are not intentionally avoiding payment.

Seek Professional Advice

Dialogue with your landlord can help alleviate lease pressures but they are often a sign of larger issues. Commercial leases are a priority payment and falling into arrears can represent major problems to come.

By seeking professional advice you can position yourself to take charge of the situation before it spirals out of control. Call us today to speak to an expert.

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1. We will devise the best strategy for you
2. We will see every case through until the end
3. We are experienced in negotiating with Creditors
4. We have helped hundreds of clients

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Free Initial Case Review

From the outset, we establish clear bottom lines with our clients, so we understand what their priorities are and what must be protected. We then create a strategy to navigate the way out of corporate and personal debt with impartial advice and rigorous action.

Specialist, Impartial Advice

The team at Bell & Company combine technical expertise with over a decade’s experience, to find the strategies and solutions to resolve our clients’ debt dilemmas. This means that when you’re with us, you can be assured that we’re working for your best possible outcome.

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