Thursday, May 5

Onward

It's official: the restaurant will close. Yesterday I began notifying employees and also spoke with my landlord. We don't have a date yet but it will be this month. Since we are current with all our bills, including the rent, we can wind down in an orderly manner. In fact, we are placing a food order this week in preparation for a busy Mother's Day.

This has been a difficult decision because I don't give up on anything. But I can't be selfish, either. My business partner has a family to support and owns no assets, so he can't keep working for no pay. I guess it is self-serving since I am also his landlord.

There are plenty of uncertainties ahead. I've never closed a business so I have no idea what is required of us to "notify" all the proper authorities. We also are super low on cash and I will probably be on the hook for some liabilities, but since we did not personally guarantee our lease I don't have to worry about that part. Sure, I feel bad about not fulfilling my commitment, but we plan to leave the landlord better off than she was before we moved in.

As for me personally, I think I will move to Tampa. Long-time followers of this blog will recall I've been considering a move for some time. In June my partner and I will probably drive down to look at houses. Stay tuned.

3 comments:

  1. Awwwww.... so sorry, but at least you ventured and weren't afraid to try! Hmmm...Tampa, I love Forida! Being from NW Ohio, my daughter lives in Sunrise, in my long term plan I'll probably consider a move too. Hope to hear more.

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  2. So sorry to hear about your business. It's hard to make that decision. Wish we had been more decisive in our business - we let it piddle along for way too long.

    Our son just moved in with us - he lived in Tampa for 5 years, the last 3 he was mainly unemployed. Down here, about 2 hours south, for 10 days and got a job. Go figure - our unemployment is about 12%. Right time, right place I guess.

    With the economy you should be able to find a house cheap to buy but rent doesn't seem to have taken the same hit.

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  3. @Marilyn - thanks for your thoughts. I've lived in the Birmingham area all my life so if I do in fact take the plunge it will be a big deal for me..

    @Bellen - the hardest part about closing the restaurant is wondering if we ever would have turned things around. In a way I feel like we are giving up too soon, but then I remember how far we are from where we need to be. I don't see any possibility of TRIPLING our sales, which is what is needed for us to be comfortably profitable.

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