Like buying a 1999 Saab convertible: The importance of understanding the commercial lease obligations when buying a bargain business

Like in other times of economic turmoil, bargain businesses are now increasingly on the market. However, just like buying an old car, sometimes the alluringly low upfront price of a business obscures the painful reality of extraordinary costs you’ll have to bear down the track. As commercial lawyers, we are often asked to assist to [...]

2020-09-13T22:37:52+00:00September 13th, 2020|Business Advice, Contracts, Corporate Advisory, Property|Comments Off on Like buying a 1999 Saab convertible: The importance of understanding the commercial lease obligations when buying a bargain business

I’ll take your business but not your problems! – The importance of understanding lease reinstatement obligations when purchasing a business

Buying an existing business can be an exciting but stressful process. Along with assuming the rights to exploit and grow an existing enterprise, the purchaser also assumes numerous obligations and liabilities. Apart from taking on the responsibility for employees, maintenance of assets and responsibility for ongoing management, part and parcel of the obligations assumed will [...]

2020-05-12T04:26:18+00:00April 29th, 2019|Business Advice, Contracts, Corporate Advisory|Comments Off on I’ll take your business but not your problems! – The importance of understanding lease reinstatement obligations when purchasing a business

Who Owns the Business Name – A Lesson for Business

The art deco doors of the Paragon café remained open throughout two world wars, three transfers of business and multiple financial crises. Now, despite purchase offers in multiples of the owner's asking price, the business's 102 years of operation is set for a tragic end. What/who could be responsible for the death of such a [...]