Company possibly closing down

CH80

The company I work for has been suffering severe financial problems and may be closing down this week. We currently have no income (long, long story) and I'm wondering if anyone knows what happens when a company is closed down and the assets sold - where do employees stand in terms of wages owed?

fengirl_2

Employees would be made redundant and be entitled to redundancy pay if employed for more than 2 yrs.
All workers must be paid for work done and also for holidays not taken.
If the company cannot/does not pay, the employees go to an ET to lodge their claim and can then go to County Court to collect the amount due. National Insurance Fund will often pay redundancy pay. Employees always guaranteed £800 of unpaid wages even if company goes bust.