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Q: We are looking into buying a café but it will have existing debts, if we purchase the lease will we be liable to clear previous owners debts?

May 21 2007

Answered by: Michael Barber     Ask a question

When you buy the existing café you will be taking on the legacy of the previous owner of the business so you will need to be aware of existing debts. You will need to honour or renegotiate any outstanding contracts the previous owner leaves in place, including debts.

 
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