We had just bought a business, a little over a year ago, when the landlord broke the news that they a cash flow problem and intended to sell the property. Due to the nature of our business, it couldnt be moved to another location. A majority of the assets on the balance sheet was construction that we had done to property that we leased. The profitability differentiated heavily between the last couple of years, and our landlord had ordered an online valuation that claimed our business was worth next to nothing. They thought it didnt matter that there were only two months left of our fiscal year, even though we were on our way to report much stronger profit in the upcoming profit and loss sheet. Luckily, the business inspector dug deep into every detail, and came to the conclusion that the years with higher profit was representative for the business. As for the two years with lower profit, they were concluded not to be representative, due to the one time circumstances that lead to high costs during those years. We felt so relieved when we became understood, as our landlord wouldnt listen to us. The story ended with us keeping our business, and we are thriving today.
- Olivia C