Redundancy/liquidation/company closure advice

[BongoPlutos]

I'm a regular user but don't want to reveal my identity incase it gets back to my employer- I hope this is ok and I wont use this login for any other purpose).

We have all been with our small employer for 10yrs+. Recently the business has taken a downturn in cash flowing into the business. The company has a very healthy bank balance. Is it possible for the owner to clear out/transfer out the account then let the business run dry/go into liquidation and we receive nothing? No redundancy payment or our months salary owed etc?

If they can't/its fraudulent - is there a set period where they can transfer everything out then close then let the business crash? The owner has said casually they are looking to close the business but I have a hunch it'd be done on minimal cost to him.

We aren't members of a union, etc just loyal employees who thought we'd be here longterm. Yes I am looking but I'm no spring chicken so I don't hold out much hope of me finding a new job soon. I was hoping to be here until I retired.

Edited by BongoPlutos on Wednesday 14th October 11:24