Closing a Business

[Rumpelsplitskin]

New poster here.....
because of the economic climate If you were to close a small retail business and make the workers redundant, then If things were to turn around quickly next year how long would you have to wait before you could start trading again and possibly employ new staff!
There must be some kind of legal timeframe.....
Hope someone can clarify,
Rumps.

[Wacky Racer]

Rumpelsplitskin said:

New poster here.....
because of the economic climate If you were to close a small retail business and make the workers redundant, then If things were to turn around quickly next year how long would you have to wait before you could start trading again and possibly employ new staff!
There must be some kind of legal timeframe.....
Hope someone can clarify,
Rumps.

I would imagine the next day, or maybe even the same............

[Eric Mc]

No legal restrictions - provided the closedown was bona fide and for genuine commercial reasons.

Getting rid of a bunch of slackers does not count - unfortunately.

[2 sMoKiN bArReLs]

People have three months to bring an unfair dismissal claim, so I guess three months is a safe (belt & braces) gap,

[Rumpelsplitskin]

Thanks for replying guys.....The business is suffering from cash flow at the moment and I feel the new year will bring even more trouble! I have enough cash to wind up and pay everyone after the Xmas/NY break....maybe take stock for 3/4 months or so then have another crack on a smaller scale.
It's a good little business, overheads too high at mo.
Thanks.
Rumps.