Help, Employer doing an IVA and making us redundant!!

mattyforeman

I have quite a complex situation. I have worked for a company nearly 11 years but it has been on a downward spiral these last couple. My boss has sold his assets over this period to try and pay debts and keep it going, but know matter how much he puts in it continues to run at a loss. Bankruptcy looked likely but i didnt want to leave as i would be due a fair bit of money. I have recently found out though, that he is trying to do an IVA, make half of us redundant and put the redundancy on the IVA. Then he plans on carrying on with the company. Basically we will end up with a small percentage of what we are owed! Does anyone know if he can do this? He hasnt told us anything about it, but obviously other people speak! To have worked for a bloke for almost 11 years and be treated that way i find incredible! Any advice would be great, thanks Mark

Thrugelmir

You are protected. You employer will receive the correct advice.

http://www.direct.gov.uk/en/Employment/Employees/Pay/DG_178525

I'm sure that your boss is doing his utmost for all of you. Nobody benefits when a business fails.