Starting over

My new client is an acquaintance who was employed by a small manufacturing firm that has recently ceased business due to a lack of orders leaving my client and about a dozen co-workers unemployed.

As I understand it the company premises and machinery etc. are owned outright by the shareholder/director.

My client and his colleagues are mainly in their fifties and seem unlikely to easily find other employment.

It also seems unlikely that the business owner will easily find a tenant or purchaser for the industrial unit and equipment. I suggested that they get together and ask the owner if they could have say six months to see if they can make a go of the business.

During that period they would ask for the premises etc. to be rent-free and at the end of six months they would either give up or pay...