[Winning]

UPDATE...

So I have been really successful in stopping the bleeding of cash for this month! So now I can live and go into surgery.

One expense that I was hoping I could have lowered a lot more was my commercial lease. Unfortunate my landlord still wanted April's payment, but did extend a 27% deferment. Which I am assuming he will want to collect on at some point. So I cut the check, but now I am thinking about next month, and the month after that, and the month after that...

Some people may think that they should take out loans to be able to keep their business open. But the loan could be just be drawing out the inevitable. Or it's easy to become hooked on the cash and always looking for more. Just be cause a business is open, doesn't mean it is profitable.

My business is along the lines of luxury goods. I am not sure how many people will be wanting to splurge on luxury goods once the economy is back "open".

So. I think it may be time to take a step back and retreat to fight another day when the odds are more in my favor.

Next week, I am going to try to find a commercial warehouse space that I can move my operation to. Depending on what I find, I may be able to actually run my business from it when the economy "reopens" when ever that is. Or I may just use it as a storage for a while. Then after 6 months or a year decide if I want to reopen of liquidate. Due to the current shelter in place liquidate, I can't liquidate right now even if I wanted to.

On a positive note..

This could be a setup for a major win for me in the future.

I have been paying a retail commercial lease for 14 years. Perhaps if I do close, then decide to reopen in 6 months to a year from now, I buy a commercial property instead of lease it. With the downtown of the economy I might be able to find a really good deal on a commercial property to buy!*