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Original poster

About to lose everything...

21 replies

whattodo2019 · 09/01/2020 00:26

After 6 really rough years of serious hard work it looks like my DH is about to lose his company. We are devastated. It's a start up company with investors. We out every penny we have into the company.Luckily we wont lose our house.

Cash flow is the problem and clients postponing orders....

Not much more to say really. Just needed to share with someone. Feels very lonely. Very worrying and incredibly heartbreaking.

OP posts:
BlueSuffragette · 09/01/2020 00:31

Sorry to hear you are struggling. Have you considered factoring any outstanding invoices to speed up your cash flow? Hope you get help and find a way through it. Flowers

Maybe83 · 09/01/2020 00:34

Your not about to lose everything.

You will have your home and each other. Having been through similar with my DH it's very important that you keep things in perspective. Yes it's sad and the winding down and dealing with the consequences of that are very difficult but when you are out the other side there will be relief and reduced stress.

There is a real sense of freedom once its actually done. The waiting and wondering should you or not is torture.

I'm not going to lie it took a significant toll on us both and our relationship but now it's just a memory.

Try to talk lots but also give each other space. Remind your self every day the end of the world hasn't come, because it can feel like it has.

springydaff · 09/01/2020 00:39

I'm sorry op 💐

Original poster
whattodo2019 · 09/01/2020 00:41

Thank you so much for your kind words. We have both said to each other that all this doesn't matter as long as we have each other, our children and our health.
I'm trying to be supportive and strong, hence why I came to MN to outpour.

I really appreciate you writing 😘

OP posts:
2018SoFarSoGreat · 09/01/2020 00:44

I'm so sorry OP. Thank goodness that you have each other, and are in good health. You'll get through this, but it won't be easy. Flowers

user1473878824 · 09/01/2020 00:44

Oh OP, I’m very sorry! PP and you and DH are right, it’s sad and it’s a loss but you will still have you’re home and each other. As stupid as it sounds, as it’s “his” company, I would make sure you tell him how proud you are of him for starting a company and keeping it going for so long, loads don’t. And if he’s done it once he can do it again if he wants to. What he’s achieved is brilliant and from what it sounds like from your OP it’s bad luck. So sorry you’re both having to deal with this though.

MrsTerryPratchett · 09/01/2020 00:49

That's shit. Sorry. Thanks

Remember that successful people don't fail less. There's been studies and everything. They are just the ones that pick themselves up and try again. I wouldn't be brave enough to even try (I once looked into it) so very well done you.

Original poster
whattodo2019 · 09/01/2020 00:52

Thank you all so much.
I'm dreading the next 6 weeks. I have my own job to focus on, but also one child has exams, I'm worried how we will is your mortgage and bills. We don't live an extravagant life but life is expensive.

I think I need to go to sleep!!!

Thank you again x

OP posts:
Mulhollandmagoo · 09/01/2020 00:52

Bless you ♥️ my heart goes out to you! Nd for what it's worth, you seem lovely!! And o think you and your family will come out of this stronger than ever!!

Sending you lots of strength and hope! And fingers crossed your numbers come in x

Didkdt · 09/01/2020 01:16

Can you get a mortgage holiday?
I understand it.must be sickening but you will rise again as a family

TheGhostOfEpicPast · 09/01/2020 01:21

So sorry OP, we are currently going through a very similar situation and every day that passes, we just seem to get more and more shitty news around it all. Just been crying into my pillow over it all before you posted this as it happens Sad. I totally get it. Flowers hope you are ok.

TheGhostOfEpicPast · 09/01/2020 01:22

Sorry for poor grammar, it’s late and I’m tired. Can’t sleep though!

LovePoppy · 09/01/2020 01:27

I’m so sorry

theflushedzebra · 09/01/2020 01:29

UnMumsnetty Hugs OP x

Focus on your job and your child, and just making everything as good as you can x

Ifeelinclined · 09/01/2020 01:32

Oh, OP. I've been through it with my husband. A little different situation because it was a family business, and the rest of the family leeched off of my husband after his father's death, but it was awful. It wasn't my husband's fault, but it was hard. I'm so sorry that you are finding yourself in a similar position. It's been a few years now, and things are so much better. I agree with giving each other space when needed. Counseling can also be helpful. Be kind to yourself. It's such a tough position to be in. I'll be thinking of you.

Episcomama · 09/01/2020 01:34

OP, I have such compassion for you. I used to be a business owner and I understand how much you've poured into this. It's ok to walk away and as others have said, you will rise again.

Original poster
whattodo2019 · 09/01/2020 03:19

I can't begin to tell you how much your kind words mean. I still can't sleep. But I know we will get through it and be stronger. I wish I had a fast forward button!

I feel that my poor DH thinks all his hard work has been for nothing yet over the past few years they have won so many awards for Innovation in Engineering. In fact it's all so cutting edge. I wish some of these deals had just come to fruition sooner.

Brexit of course hasn't helped either

OP posts:
Ifeelinclined · 09/01/2020 03:23

I'm so sad for you. It's so tough on so many levels. I'm up if you need to talk.

endofthelinefinally · 09/01/2020 03:25

Similar happened to a relative. Business was going really well until they took on some projects for large companies and local government. Those clients simply did not pay their invoices. It turned out that this was totally legal and there was no way to make them pay.
I am so sorry this happened to you.

Grapefruity · 09/01/2020 03:29

Similar situation here albeit 10 years ago and had to sell our home and rent a house for a number of years.
We faced a lot of financial problems for a few years afterwards and it was tough. But it made us stronger and my husband now has a much better job we're back on the property ladder.
The stress of having our own business definitely wasn't worth it.

Although I agree with a previous poster, factoring invoices could be a way to get a quick injection of cashflow in the short term until the orders start coming through again.

Snugglepumpkin · 09/01/2020 03:40

You are not going to lose everything.
You still have your home & you still have your family.

You still have all the skills & the knowledge that were put into the company.
You still have the experience of running a business & you have learned valuable lessons about things that you need to do differently if you decide to try again.

You are still the same people who started the business, just with a bit more knowledge.

Many successful people have failed in the past before finally getting to the stage of succeeding.
It's not the failure that makes the difference, it's how you chose to learn from it, adapt to the setbacks & go on from there.

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