Saturday, November 21, 2009

Unfortunately your experience is hardly a surprise Tony. I asked for a COP rent review over a year ago and gave FULL DISCLOSURE of accounts, cashflow projections, bank balances and every little thing the pubco demands and still have no tangible response. They have rpevaricated and delayed ever since although at least they haven't say NO. Effectively over a year is a defacto NO in itself. Probably they were hoping the inland revenue, utilities, other suppliers might act to precipitate closure before pubco had to actually try for once to be a 'partner'.

We've had a better than expected year, which has allowed some small space to survive, but are in serious financial difficulty now - as anticipated and planned for and dealt with appropriately with our recalcitrant feudal landlords - well within the terms their lessee charter - to no avail...

Robert Feale-Martinez (great name that) has the grip of this in pointing out that rent reductions and other concessions are just a sticky plaster to briefly stem the flow of blood from a wound that is hemmorhaging The sum of their effect is to prolong the agony of slow and inevitable business failure.

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