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[albitz]

In administration - possibly no redundancy and no wages either. Happens all the time.
Then they start up again a few weeks later and carry on as if nothings happened.

IIRC; it'll be the Receivers who actually fork-out redundancy/wages in lieu ..... that's what happened in my case.

Also got 1.5 x my basic weekly wage for each year's service, walked into another similar job straight away, and was obviously very lucky at that time.

And an added bonus was that a enebriated voluptuous young lady boarded my late-night bus soon afterwards ..... and eventually became Mrs Seth!
"Every cloud has a silver lining etc" Again, best of luck Bob

If your lucky,yes but it often doesnt happen that way unfortunately.

[paul.lovejoy]

In administration - possibly no redundancy and no wages either. Happens all the time.
Then they start up again a few weeks later and carry on as if nothings happened.

sure that made Bob feel a lot better 

as well as redundancy etc is there not a goverment paid scheme that gaurantees your wages for a length of time in relation to how long you have been on the company unless you find employment

mates just got made redundant coped about 7500 in redundancy but missed out on the goverment payout as he managed to walk straight into another job within a week

good things can happen certainly hope it all works in your favour Bob

[kev2b4]

Had that last year - ( 6th time) - company went into receiver ship- but gov't scheme came into effect - however it has an upper ceiling on the pennies etc. - but went thru surpisingly quickly.

[bob.dent]

Sorry to hear this Bob

What kind of work do you do?

Manager of accounts and admin department. Although no qualifications in accountancy I kind of got thrown into the job at the deep end around 15 years ago and just built up experience.

[bob.dent]

In administration - possibly no redundancy and no wages either. Happens all the time.
Then they start up again a few weeks later and carry on as if nothings happened.

It's actually CVA (contolled voluntary administration) we've gone into and I believe they intend to restart the company again if it's viable but not without losing people. Unlike many company's, they do actually care for their staff and are trying to do everything they can to save jobs where possible. There's a lot going on that I'm not privvy to yet so just got to hope for the best.

[jonathanh]

sounds like it is  pre planned or " pre packed".  Probably designed to clean the business of some of its debts (either bank or pension scheme).  If the business is fundamentally sound then the administrators will keep it mostly operating with few job losses.  fingers crossed....

[bob.dent]

sounds like it is  pre planned or " pre packed".  Probably designed to clean the business of some of its debts (either bank or pension scheme).  If the business is fundamentally sound then the administrators will keep it mostly operating with few job losses.  fingers crossed....

I agree - I'm aware we had a substantial pension deficit so as you say, I think it could well be designed to clean us of the debt and restart, but with some job losses. Fingers crossed indeed!!

[jonathanh]

ah well - watch out for what happens to your pension.  the scheme will end up in the pension protection fund ( probably) which means a cap of about £25,000 on everyones pension and a 10% reduction unless they are over their normal retirement age.

Best is to ask the trustees what they are doing

[tigers_gonads]

sounds like it is  pre planned or " pre packed".  Probably designed to clean the business of some of its debts (either bank or pension scheme).  If the business is fundamentally sound then the administrators will keep it mostly operating with few job losses.  fingers crossed....

That makes sense 

Good luck bob, hopefully you won't get the shitty end of the stick 

[Gaffers]

Sorry to hear this Bob, I hope it all works out in your favour

[Elite Pete]

Bad news Bob but i'm sure a man of your calibre won't have any problems finding work

[TheBoy]

Sorry to hear this bob.dent, but you are right to be prepared for all eventualities.