Newcomers: Missives

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Over the past week our lawyers have been in touch with the Pubco's lawyers to get things advanced and get the missives signed. As soon as the...

Over the past week our lawyers have been in touch with the Pubco's lawyers to get things advanced and get the missives signed. As soon as the missives are complete the schedule of works regarding the refurbishment can begin in earnest.

We have been informed by the Pubco that should the missives be signed today or tomorrow then it will be a minimum of two weeks before the contractors would start work.

I must admit upon being told that we were more than a little disappointed as were under the illusion that the contractors were ready to move in the minute the missives were concluded.

More than five weeks have passed since the date that we originally identified as the pub being ready to open therefore it's a matter of urgency now that the refurb is started as soon as possible and completed with urgency so we can get trading.

Money is being spent all over the place, we have begun making repayments to the bank, our pot of money is diminishing and everything is a lot more expensive than originally estimated.

The whole deal is still really in the balance and even at this stage we are informed that it could still all come to nothing.

Something which I sincerely hope will not happen, but if the lawyers on both side fail to come to an agreement very soon then it may well be the case that R and myself will back away, lick our expensive wounds and take away a lot of experience and newly gained insight from the whole process.

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