A client has sold his business on lease to another company which will take over in November.
There are a number of existing staff, some salaried and some zero contracts.
The new company does not want to take on all of the existing staff just a small few.
How best to handle this given that none of them have been employed for more than a year?
Do we make them redundant or just say the business is closing on 31st October and basically no job after that date?
Replies (2)
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Hi,
How long is the lease? I believe that the new owners will have to go through the standard redundancy process, if the employees are on a permanent basis and passed their probation.
It might also be good for your self to speak to a business broker or M&A consultant, they come across situations lie this all the time, try contacting:-
Avondal, Bernard Baxter Business Brokers or Hornblower business brokers. They should be able to provide you further information.
Many Thanks,
Ethan