No one will suffer more than Jo and her husband. The firm my son worked for had a staff meeting explaining how go ahead the company was, then went down a week later, no warning. Everyone turned up to work and were told to go home. It took 18 months for any wages or holiday pay to get paid. Things will just take time to sort through. Going by this message board there are a lot of great business folk who think they would if they could, do better. Go negotiate, you could get lucky. I just hope they are not personally, responsible for any debts .
deerhurst,
Aug 10, 9:41pm
You hope they aren't personally responsible for any debts? They created them they should pay them IMHO.
My guess that Jo was still swanning off on her 3-4 overseas holidays every year still why owing money to people. I'm not sure how she could sleep at night knowing that.
lovelurking,
Aug 10, 9:43pm
You hope they are not personally responsible for any of their debts?
Who do you think should be then? The mailman since he delivered the bills?
They are certainly giving the impression they are not responsible, they acted irresponsibly by continuing to operate when they were not paying their creditors and not filing tax returns.
If nobody was held responsible for bad business practice and business owners could walk away from their obligations (i.e. Debt) imagine the mess. No taxes would get paid so there goes all the benefits, the hospitals and roads just for starters.
Duh.
uli,
Aug 11, 5:16am
If they were both directors of their company they are both liable to pay. Could mean selling some private assets.
samanya,
Aug 11, 8:50am
Absolutely. I went in to bat for Jo . but once I learned a of the size of their debt (coupled with their attitude) . you have to ask what happened to their personal responsibility? How anyone can say that they hope they are not "personally, responsible for any debts" beggars belief! If it's a company debt . who are the major shareholders? Many questions that should be answered. & yes, I have done an about turn, based on the information, now made public.
samanya,
Aug 11, 8:51am
Yep . can you list any assets?
awoftam,
Aug 11, 8:55am
It depends on the structure of their business; I haven't bothered to check. If it was a company (and I am betting it was) that is what Limited Liability means. private assets will be protected, as they should be for many reasons. Personalities aside there are laws that apply to these situations.
rasin11,
Aug 13, 9:48am
My sympathies for her are long gone.She has dealt with businesses for years and he definitely knows better. Staff owed HUGE amounts. While trips away are paid, for the expenses while they are away aren't, and surely if the couple had any conscience at all they would cancel the trip later this yeas and at least try to pay their staff some of the money that haven't paid.
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