Hi guys,

Looking for some advice please.

My business started going downhill beginning of 2016. I was in the process of selling my house and hoped to be able to pay off most of my debts out of the proceeds. In the meantime some of my suppliers were giving me a hard time, forcing me to start selling machinery and equipment to pay them. By approximately middle 2016 I was selling off my business' assets to pay my employees their weekly wages, who at that time were doing basically nothing. I sat together with the bargaining council and we calculated retrenchment packages for the employees, thinking that I would pay them when my property gets sold.

My property transaction was only registered in June 2017. By this time everybody was on the bandwagon to get a portion of the proceeds (I had signed as surety in my personal capacity for my business). My current situation is this : I do not have money left to pay the retrenchments.