|November 24, 2014||Comments Closed|
I have worked in the physical fitness industry since I left 8 years ago. Eventually I started my own fitness business and it was going well. Eventually, I moved into a studio in an industrial area where I would run Yoga and Spin classes most mornings and evenings. After two years the council improved all the roadways in the area and made it virtually impossible to get in and out of the area. Eventually it just became obvious that it was just too very hard for my regulars to come and my business was going down hill pretty quick. I didn’t really rack up any significant bills, but I did have 3 years to go on the lease on the studio, which amounted to about $120,000, which I was liable for personally with a personal guarantee. I spent 5 months trying to rent the place out but no one wanted it because of the construction. The landlord was growing impatient, so I left, locked the doors and got another job. I had hoped the landlord would find another renter but it’s going to take a while. In the meantime, I felt I had no alternative but to file for bankruptcy. Bankruptcy Experts were fantastic they didn’t charge me much and even helped me get started up again in my own business. It was a positive experience. Thank you.