Work Problem

[ErictheRed17]

I asked before but no one answered, trawled through some websites and found myself overwhelmed with the articles.
The place that I work at is going through a rough time, boss has placed his business for sale through an agency and he has said it would be easier to shut the door and lock it without coming back. Its all good for him to say that but how would it affect me? Am I entitled to redundancy or whatever it is called or would I be screwed?

[Peter Pedant]

If you are employed for less than two years he can
just lay you off

longer than that I think it may be - one week for every year of service capped at £20k

and if he is insolvent then you get zilch besides a credit note

[Peter Pedant]

one weeks pay for every year service

[ErictheRed17]

Thank you. Been there 4 years

[Maydup]

Lets hope he finds a buyer because then you will be protected under the transfer of undertakings TUPE, which ensures you are part of the business and the new owner has to keep you.

However if the current boss goes bust, shuts the doors, or if a new owner decides to reduce staf numbers, then you will be entitled to redundancy pay.

If the boss goes bust yiur redundancy payment is part of the creditors list and high up in priority.

My advice is to go to your nearest citizens advice office and speak to someone. They helped us when this happen to MrM and he got his redundancy money albeit in part payments as the boss was forced to pay his debts.

[tonyav]

Peter Pedant one weeks pay for every year service

One and a half weeks pay over the age of forty.
https://www.gov.uk/calculate-your-redundancy-pay

[Maydup]

More info from gov.uk

You’ll normally be entitled to statutory redundancy pay if you’re an employee and you’ve been working for your current employer for 2 years or more.

You’ll get:

half a week’s pay for each full year you were under 22
one week’s pay for each full year you were 22 or older, but under 41
one and half week’s pay for each full year you were 41 or older
Length of service is capped at 20 years.

If you were made redundant on or after 6 April 2017, your weekly pay is capped at £489 and the maximum statutory redundancy pay you can get is £14,670. If you were made redundant before 6 April 2017, these amounts will be lower.

[Buenchico]

If your employer declares the business insolvent, you can claim money owed to you (including unpaid wages and redundancy pay) from the Government:
https://www.gov.uk/your-rights-if-your-employer-is-insolvent/claiming-money-owed-to-you

[zackluis1]

Hello
That is a very unfortunate situation that you are facing. I hope that the company does not shut down.
Thanks
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