September — October
First real test
Sale If there is no serious interest after six to eight weeks, take the first step down — under the £200,000 mark, because that is where a whole new set of buyers start looking. BJ should steer the exact number.
Reopen If it is going ahead, it is trading by now. Three nights, wine and coffee, small. Whatever it brings in starts feeding the repayment.
CIC The honest test: can we name three directors? Not vague interest — three people who would put their name to it. If that answer is no by the end of October, that tells us a lot.