shenanigans ahead?

[TommoAE86]

Sounds like a horrible situation for those with long service being left with nothing

[cirian75]

Glad I'm well away from them now, it was only one month after I TUPE'd that they was sold on, so I dodged the bullet big time there.

The new owners, well reputation is not the best, but seems to be more into growing, than asset stripping like the last lot.

[TommoAE86]

I did similar, dodged the bullet as the new owners were trying to run the operation on a shoestring without appreciating how to business used to make money. It was a shame but it did last another 12 months!

[cirian75]

some more info

the now ex owner was personally withdrawing money before paydays

2 days early, to make sure people got paid, knowing what the owner was doing before payday, the wages boss processed the wages, with more than enough money to pay them.

The owner withdrew a large amount money the so the wages could not be paid in full and filed the next day.

And the new owners, who talks must have already happened, swooped in, bought the company and paid the wages.

there is big legal question going on now about the legality of the now ex-owners withdrawing cash, as a large amount of the money he took on the last day was pre-payment.