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I've been offered work until Xmas working in a business that is in administration.
Does anyone know if I am guaranteed to get paid, or is there a chance I won't?
I'd rather not say who the company is, but its fairly big and they're looking for a buyer but the store I am going to be working in is def closing.
Thanks
sorry to say no guarantee of pay as you are just another creditor, who comes somewhere behing tax man VAT and administrators/banks when assets are shared between creditors
@ the hustler: that was my understanding as well. However, I've been offered the position after they've gone into administration. So does this change anything? Are they legally allowed to take people on if they know they can't pay them?
not sure on that point tbh but dont think it changes your status as a creditor, one hing in your favour when administrators are involved all financial outlay(including staff hire) has to be approved by the administrator
My understanding is that one a business is in administration, the new creditors (those from after the administration) are guaranteed payment.
So, any pay due before administration is in the queue, but any from after should be OK.
Brilliant thanks.
So, I just need to get confirmation (verbal/written?) that the administrator has approved the hiring and that would (hopefully) give me a bit more leverage if they suddenly turned round and said they couldnt pay me?