I am the general manager (not director or shareholder) of a small 20 employee company. The company is owned by a holding company which owns / ring fences the assets. The trading co is insolvent and the owner is trying to sell and has been advised to do a pre pack deal by his IP. The potential buyer is in the same town and well known to the company. He is an aggressive character and has in the past bought other companies only to bully / ease out its employees and has never paid any redundancy. My fears are that he will do the same here, but can the administrator give redundancy notices before the new buyer buys? Any tips on how as an employee I can try to give myself more protection. During hard times I have accrued a large amount of backpay and bonuses, and although the owner has in the past given me his assurance that he will personally pay me this, he has more recently said that I am now a creditor and will have to take my chances with the administrator. Any tips here? probably more of an employment question, but after 20 years service anything would be useful, thanks steve
As an employee, you have the same rights, as other employees - you are protected by employment legislation (TUPE leislation) and can only be made redundant if they do not employ someone for the same role,if they do, or even if you feel you are being bullied or managed out you have grounds for an employment tribunal. I would advise that you speak with your accountant and solicitor. Don't let them get away with something they may not legally be able to! Good luck