Helping The Pub Trade

Despite what some people say and what you read, there is help available to people in the pub trade in England and Wales.

2012 will be a tough year for the pub trade with more pubs set to shut each month than ever before.

It is estimated that approx 16 pubs a week will close with the people that run them being left with huge debt problems.

We have seen the trade decline over 18 months with more than 1000 pubs closing, and it will continue to in 2012.

But do the people running pubs realise that there is help out there for them?

A lot of licensees think that once they are signed up and tied to a pub with a lease and agreement, that's it, nothing else can be done and you are bound to do your best.

But if they have mounting debt and are struggling to make ends meet, then there are many debt solutions open to them depending on their circumstances and individual need. Of course there is the question of " I hold the licence for liquor" and " I hold the premises licence", but all is not lost….

Take for example this testimonial from a licencee who we helped:

"I am a leasehold licensee holder for a pub in Tyneside. My story maybe familiar to many in our profession. I have a lease on a pub so I had to pay my rent, buy my beer and pay my staff. All the while trying to keep the business afloat during a recession.

Business was difficult just trying to make ends meet let alone earn a profit. The reduction in my cash flow meant I had to prioritise who got paid and when. I had to make difficult choices, do I pay my bills or buy the stock that's needed to survive. I had this belief that if I could keep trading I can work my way through my problems.

It sad to say but the longer I traded the more in debt I became. I became an expert in juggling payments. Some payments went to keep the business afloat, other payments to keep the creditors happy. All the time knowing that there was not enough money to pay it all. I just got deeper and deeper into debt.

I would have a good day trading and have some cash in the till. Only to have a visit from the debt collectors demanding payment or the electric is cut. At times like these all you think is I need to keep trading and reluctantly you hand over your hard earned cash. Now how do I buy my stock?

When you are in a situation like this you think you have nowhere to turn and no help is available. With hindsight I realise how hopeless I felt. I received a letter from Integrity offering to help me. With all I had been through I felt I just couldn't ask for the help. However I decided I had nothing to lose by phoning. This phone call has become one of the best decisions I have ever made.

I spoke to Integrity about my situation and they offered me a consultation. I met with a friendly and very knowledgeable consultant who helped me understand my situation clearly. For the first time in a long while I was able to see all of my options and I was able to choose a path that I knew would get me debt free.

Now I had support and at last I could concentrate on making money. As with all things in life sometimes it has not been all plain sailing. However I am on the right track on and soon I'll be debt free."

We help people in the pub trade get around their debt problems, whether that's through a Full & Final Settlement, Individual Voluntary Arrangement, or Bankruptcy, plus other options open to them. If you are in the pub trade and have debts that you are worried about, then please contact us for advice, you are not alone by any means.

Integrity Financial Services has a proven track record in professional debt help and advice and if you are struggling to make ends meet and keep the doors of your pub open, then contact us now on 01743 272900.