Company closing..when can I jump ship?

mcguiver

Here's a situation...all advice apreciated.
Company I work for may be shutting down. Final decision being made next week. The owner has a history of shutting companies. Usual way is to run up debts...usually from buying goods from other companies that he owns.(Stuff thats overpriced/old stock, slow sellers etc.)
He then shuts company due to insolvency, tells staff etc. that theres no money due to the debts, they can go apply to govt etc. for statutary redundancy.
Meanwhile he usually registers a new company, different directors etc. This company normally starts trading within days of the old one going bang.

And of course the buildings etc. are not company property...they're owned by owners family and rented back...so no real assets to liquidate!!

He has enough money to drag labour courts etc. on forever untill most people give up and stop trying to get paid.

My question is ...if I'm told we are shutting in say 3 months...do have to stay the 3 months to be entitled to redundacy..or can I jump ship a.s.a.p.

seamus

You can jump ship, but you won't be entitled to redundancy pay.

zenith

Any chance of getting the Director of Corporate Enforcement involved?

Eoin

mcguiver wrote:

My question is ...if I'm told we are shutting in say 3 months...do have to stay the 3 months to be entitled to redundacy..or can I jump ship a.s.a.p.

Why would you hang around working for this cowboy in the hope of some redundancy? My advice would be just to get the hell out, get a new job and never think about the company again.

mcguiver

Sound advice... but I'm at this game nearly 13 years....so even statutary redundency would be a few quid.

My gut feeling is to jump a.s.a.p. it would cost him a fortune, plus most of his records etc. are technically mine....... done on my time/my laptop etc. I walk away and he's no paper trail for the taxman .But it would be nice to have a little going away cheque.

Unfortunately his ass is covered legally, all his properties/other firms are in relatives names.... I've seen how he can mess about the courts in the past.

AARRRGH

We're you planning on leaving anywhy? If not, personally, I'd stick it out. If anything, it'll be a holiday camp for three months

is_that_so

Stay, you'll get statutory rendundancy and will be able to sign on straight away. If you leave it will be 6 weeks before you can sign on and get money.