A spokesperson said: "P&O Ferries is not going into liquidation. We have asked all ships to come alongside, in preparation for a company announcement. Until then, services from P&O will not be running and we are advising travellers of alternative arrangements."
Liquidation isn't the only form of insolvency, they could go into administration where the company keeps trading while they try to find a buyer for all or part of the business. Sometimes administrations are 'pre-packs' where the deal is done behind closed doors and the company is effectively placed into administration and immediately sold before anyone, including general staff, know about it. I wonder if something similar has happened and they've used that a tool to make staff redundant because the purchasing company doesn't necessarily have to take on debts/liabilities (although TUPE might apply, I don't know a lot about that in insolvency situations).