Administration or taken over by venture capitalists - lesser of two evils?

ohyespleasethankyou

In the next couple of days my employer will either go to the wall or be bought for peanuts by some venture capital guys. The lads are all talking about how, if we get taken over, the vulture capitalists will have us all assessed for our worth and then forced out by devious means to avoid paying redundancy pay - put on ridiculous shifts, cut our wages, docked pay for lateness, written warnings for minor errors etc. Anyone left will be working for a company whose only interest is in the money us oily rags can make for them and it will be hell. Fair enough the current owners have ballsed it all up so it can't have been perfect but although I know they are 'supposed' to honour existing contracts, do they have devious 'legal' ways of changing the rules?
The statuatory NI redundancy pay may be poor but it is still more than if I get forced out in a couple of months. Arrggghhh!

cazziebo

Depends how long you've been there but I'd have thought a few more months pay would be more than stat min redundancy?