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Employer going into administration

(2 Posts)
NeedANewJob19 Mon 04-Nov-19 22:10:56

Have name changed for this.
Just wondered if anyone had any experience of having their employer go into administration.
Did you get paid? Did you get your redundancy?
I’m sure every administrator is different but could really do with hearing some others stories

OP’s posts: |
Isleepinahedgefund Mon 04-Nov-19 22:31:41

Have you been made redundant, or is the business still trading? There are few different possibilities depending on the circumstances.

Employees are preferential creditors in Insolvency proceedings, meaning that they get paid first after the creditors whose debts are secured against the assets. There is also the Redundancy Payments Service what will pay capped amounts if you have been made redundant due to Insolvency.

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