Urgent help - company closed

Bails37 · 22 September 2016 at 10:01PM

Hi everyone,

First time poster here, so I hope someone may be able up help as I've run out of answers. Last Friday, the global media company I worked for abruptly ceased trading without notice. We all found out via various online news outlets that morning and my MD summoned us to the office to announce it. This was awful enough, but the problem arises in that I have not received or am likely to receive a redundancy letter (on top of receiving no motive pay whatsoever). My MPI provider has requested this document. I have everything else they need (final wage slip etc) but no official termination letter. News of the company's demise is all over the industry news, but they are not listed as insolvent at Companies House. Is there any advice anyone here can offer? I'm really worried that my ex employer's complete silence and inaction will effect both my MPI claim, and my ability to claim stat redundancy from the government.
Thank you for your help,

Guest101 · 23 September 2016 at 8:32AM

The official receiver will take on the case and then you will receive everything you need

It will take longer than a week...

Bails37 · 23 September 2016 at 8:42AM

Thank you for your reply,

So there's nothing I can do until the company actually becomes insolvent?

Thanks again

sangie595 · 23 September 2016 at 9:03AM

Bails37 wrote: »

Thank you for your reply,

So there's nothing I can do until the company actually becomes insolvent?

Thanks again

There's nothing you can do, I'm afraid, until you are told you are redundant. Your employer ceasing trading is not the same thing. There will be attempts to maximise the chances of salvaging as much add they can, and that could involve selling the company. In which case they may not immediately make staff redundant. You need to identify who the insolvency practitioner is and speak to the. They'll contact you at some poin, but the only way to speed up that communication is go to them.

redmalc · 9 October 2016 at 7:06AM

It may be the company as actually ran out of cash and cannot afford to go into a formal Insolvency procedure,if that's the case the company will have to wait for a creditor to enforce a winding up order which costs money,normally HMRC force the issue but that takes time.
I recently was involved in a company thet waited for four months before it was put into Liquidation with the Official Receiver which does not help the staff

sangie595 · 9 October 2016 at 8:39AM

And in some cases they never go into liquidation, and staff get nothing at all. HMRC don't push the issue normally (and neither does anyone else) because there is no benefit to them if there are no assets to realise. Being the creditor to force the issue doesn't get you paid - it just puts you back where you were, amongst all the creditors waiting to see if there is anything to get a share of. Since the answer to this is usually no, then it isn't worth the bother to anyone.

Urgent help - company closed

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