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Local Office Closing

I wonder if someone could give me advice on this please. The office I work in will be closing sometime this year and the business will be sold, as the buyers are at the other end of the country it doesn't look as though there will be jobs for us, we have been told that we will not be getting redundancy pay from our current boss as someone else is buying the business. Would the purchasers of the business pay us redundancy or would we just not get anything. It's very worrying as this is my only source of income I don't have a partner or anything so there will be no money coming in

Comments

  • savingholmes
    savingholmes Posts: 29,137 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    HI Tobykim - if I were you I would ring ACAS on 08457 47 47 47and ask the question...

    Normally TUPE transfer rules would apply and normally you would transfer to the new owner along with the assets. My understanding is that either your existing employer or new employer would be liable for redundancy costs and in real terms you would probably be able to make a claim against either and they would then claim against each other if necessary.... It is quite a complex bit of law but one way or another you should get redundancy money from one of them providing you have enough service.

    Please let us know how you get on when you contact ACAS - they are very friendly and helpful.... (free government service)
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £169.8K Equity 37.1%
    2) £1.5K Net savings after CCs 11/2/26 (but owed £1.4K) so £2.9K
    3) Mortgage neutral by 06/30 (AVC £34.8K + Lump Sums DB £4.6K + (25% of SIPP 1.3K) = 40.6/£127.5K target 31.8% 16/11/25
    (If took bigger lump sum = 62.7K or 49.2%)
    4) FI Age 60 income target £17.1/30K 57% (if mortgage and debts repaid - need more otherwise) (If bigger lump sum £15.8/30K 52.67%)
    5) SIPP £5.2K updated 16/1/26
  • tobykim
    tobykim Posts: 437 Forumite
    Part of the Furniture Combo Breaker
    Thanks for the info at least I know what to do now and where to ask
  • max2009
    max2009 Posts: 543 Forumite
    How long have you worked there ?
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