www.iva.co.uk

does anyone know anybody with a punch lease who entered into an iva
and had success and not lost their lease?[:)]

Yes - I have actually acted for a couple of clients in a similar situation to that you describe.

thanks for the reply were punch ok with them did they keep their lease and are they still trading[:)]

I think you need to speak to an IP urgently because regardless of what Punch's attitude would be you need to address the debts of the business. HMRC could send in bailiffs and seize goods or even petition for bankruptcy which would mean the loss of the business anyway.

It is easy for an IP to speak to Punch on a no names basis to assess their attitude and it is also possible to send HMRC a mini proposal to guage their feelings on any proposed IVA.

There are many publicans currently in IVAs as Melanie says which is much better for the Pubcos than more and more failures, closures and lockups.

Punch do support IVAs - but only where it is demonstrated that there is a core profitable business which can afford to pay its rent and buy its beer. You need to undertake an overall business appraisal to determine what has gone wrong and what you can do to put things right - to enable you to cover current commitments, and make a contribution towards back liabilities. I have acted for many publicans in my career -but only where these key factros are ever present.

good to hear the iva is nothing to do with my punch pub it is for debts incurred on marstons pubs which are now winding down due to the recession etc.[:)]

So will your Punch pub generate sufficient profits for you to be able to repay the creditors from your other business?

it should do i hope with the help of an iva[:)]