Business Partnership Issues

mammybear75

Any help / advice on the following would be much appreciated please.

I am the owner of a small beauty / hairdressing outlet on the Northside of Dublin and I set up the business approx 5 years with a friend of mine. Unfortunately, my friend / business partner decided to emigrate to Australia on short notice (telling me 3 weeks in advance) while we are in debt of approx €20K. Obviously things are now getting on top of me.

She is still my business partner and wants to be involved in the business as much as possible but we have not been in contact since her departure. As I am still in Dublin running the business, it is now down to me to clear this debt or do the best I can possibly do, to try and get back on track. Ideally, I would like to become the owner of the business but the fact that I know she will not part with the business leaves things in a bit of a mess. I contacted my solicitor and he said I could try buy her out or carry on and post things over to Australia when her signature is required etc. This is just not a healthy business relationship and I am on the verge of giving up.

Does anyone know what options I have here? Basically, I do not want to be in business with her since she does not care at all and left me high and dry.

achmairt

I would contact her and tell her you can't do it on your own and may have to close down and split the debt. Then start up again on your own and let her do what she wants.

dbran

Hi

What does the partnership agreement say about her leaving the country and not doing her share of the work?

Offer to buy her out less her share of the debts.

Dbran