hypothetical - retail tenant situation

Eever

I know no legal advice can be given on this forum, I mean this as a hypothetical situation only. Asking out of curiosity really as I reckon I already know the answer.

Say I'm a a retail outlet struggling to stay afloat and I owe some back rent to the landlord. I approach him and say I can't afford to pay this so I've a proposal for you, I have another tenant willing to take over the lease, they're a large multi national corporation so they won't have the same difficulties that I've had, they're a much safer bet in guaranteeing you'll get your rent in full from now on, would you consider taking the small loss on the bit of back rent and taking them on as the new tenants? But the landlord says no, and my company has to go into liquidation (and as a result the landlord won't be getting his back rent anyway).

Now that I'm gone, is there anything to stop the landlord from approaching this multi national company themselves (or the company contacting the landlord themselves) and making the deal I proposed, just without me in the middle?

Corruptable

Not that I'm aware of, but then again I'm no expert.

blueythebear

Eever wrote: »

I know no legal advice can be given on this forum, I mean this as a hypothetical situation only. Asking out of curiosity really as I reckon I already know the answer.

Say I'm a a retail outlet struggling to stay afloat and I owe some back rent to the landlord. I approach him and say I can't afford to pay this so I've a proposal for you, I have another tenant willing to take over the lease, they're a large multi national corporation so they won't have the same difficulties that I've had, they're a much safer bet in guaranteeing you'll get your rent in full from now on, would you consider taking the small loss on the bit of back rent and taking them on as the new tenants? But the landlord says no, and my company has to go into liquidation (and as a result the landlord won't be getting his back rent anyway).

Now that I'm gone, is there anything to stop the landlord from approaching this multi national company themselves (or the company contacting the landlord themselves) and making the deal I proposed, just without me in the middle?

There's nothing preventing the landlord from doing so. Unfortunately, you were in the wrong in not paying rent and you would not have a leg to stand on. The landlord is not obliged to forego your rent just because you found another tenant to assign the lease to.

Eever

blueythebear wrote: »

There's nothing preventing the landlord from doing so. Unfortunately, you were in the wrong in not paying rent and you would not have a leg to stand on. The landlord is not obliged to forego your rent just because you found another tenant to assign the lease to.

Yep that's exactly what I was thinking.

Fey!

The alternative is that you approach your landlord with this, but offer to pay off the back rent over a 12 month period. It could free you from your lease, you're servicing your debt, and the landlord has a solid tenant and a decreasing debtor.

Eever

No money there to pay off back rent, company already gone into liquidation. If I was in the loop, the new lessee would keep on the staff which is all I really want, but I'm not, so no guarantees.