Company in administration?

Herewegoaroundagain

I think it appintsd administrators Friday with a view to ore pack. How can I find out before Monday? I guess I can’t!

elsien

Herewegoaroundagain wrote: »

I think it appintsd administrators Friday with a view to ore pack. How can I find out before Monday? I guess I can’t!

Beg pardon?

McKneff

Eh !!!!....

discat11

if your company has appointed administrators then you'd best expect not to have a job by the end of the week and not get any redundancy either.
Get looking now for another job.

McKneff

If you have worked at least 2 years you will be entitled to redundancy pay and accrued holiday from a government fund

Herewegoaroundagain

I have heard it is being pre packed so I would be tupe’ed

Herewegoaroundagain

So sorry for the typos! That’s me typing too fast whilst watching the X factor!!

gettingtheresometime

What is pre packed?

Herewegoaroundagain

Its bought out of administration straight away. A deal is agreed before administrators are appointed.

sangie595

Was there ever a point to this thread?

SeanG79

Pre-pack administration is an insolvency procedure in which a company arranges to sell all or some of its assets to a buyer before appointing an administrator to facilitate the sale.

Usually the director's have created another company that is the purchaser.

I would look at Companies House to see if the directors have set up another limited company.