Should I partner with a restaurant who has a shady owner?

Tips and Deals Forums Debt Management Debt Management Should I partner with a restaurant who has a shady owner?

This topic contains 0 replies, has 1 voice, and was last updated by  Anonymous 7 years, 9 months ago.

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    Anonymous

    I’ve been asked to be involved in a 5-person partnership of a restaurant. The deal is the present owner is walking away and turning everything over to us…but I’m still not clear if this includes past debt. We had our first meeting (us five) last night and the owner did not show up. When I asked him this morning why he wasn’t there, he just said it’s not going to be his business anymore. He has lied in the past. Pathologically lied. I’m not so sure if I want my name on the legal end of things. They want me to be the bar manager, but I’d rather be “hired” as the bar manager instead of partnering. What am I missing here? This is a fast, quick deal and he seems to be rushing us through it, without involving legal aspects or persons. I just don’t want to be hasty. He also changed the name yesterday and wants someone else’s name on it quick because he claims he’s getting divorced and he doesn’t want his wife to have the restaurant. Is this even legal? And she has all the money. He married into it. I don’t want to get caught up in legal battles with his wife. How can we check on all of this to make sure this is a legit transaction? Would it be out of bounds to call his wife on her cell phone and ask her if she even knows about this?
    Help! Any suggestions and/or advise is welcomed!!

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