Over my business life, I've made quite a few name changes to Limited companies, but, never anything that detracts from its original.
I've gone from things like A&B Ltd to A&B Fruit Ltd. Often the change to better represent the business.
But, I've sort of stumbled into a community that regularly does change its names - and not for good reasons.
Take for example a shop not far from me that's just rebranded... the shop owner proudly told me he did it to escape some debt the business had built up.
HANG ON... I thought... the interior is the same, the stock is the same, you're the same... the only thing that's changed is your store name, and Ltd company details. A quick check showed me his existing Limited company had been liquidated, and guess what... he bought the stock for 1/8th of what he owed on it!
Although I'm not naive to think this doesn't occur, I was shocked with the frequency of it in this little location.
The morale and ethical standing behind it is all wrong. That's not to say I've not been involved with a business that's turning sour - but, I've just binned it, after settling debts, and moved on to something new. That's led me to where we are now. If I didn't do that, I'd still be selling sweets on the black market I'd created in my high school... and being in detention for it...
But, how can someone get away with this? Laws aside, if a customer didn't pay me, and flipped their business, they'd be getting a personal visit from me for a one way chat.
Anyone else seen or experienced something similar?
