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Headline

Should I worry about being trapped in a sinking practice?

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Anon 9.18 It cost us £100000 redundancies , £65000 early repayment fine for paying off mortgage and loans £165000 mortgage repayment .£10000 accountancy fees .£5600 estate agent fees .£5000 solicitor fees plus £3-5000 in odds and ends disposing of equipment , sold some equipment for £3000 .Not the golden investment I had imagined when I bought in in 1989 at a cost of £50000 .We had 13 staff some with us 25 years , 2 partners and an old property that we sold to a developer with cat D use ie medical only so lower value than residential .He will have to wait a year for planning to get residential use , then turn it into 4 units .At least we did not have to pay in to leave .walked away with enough to buy a nice bottle of wine ! If you are tied into a lease you will be liable for your share if you leave .Hence no one wants to buy into a practice these days You would be a mug to do so these days

Posted date

26 Sep 2015

Posted time

10:43am

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