Your employer is insolvent if it cannot pay its debts.
make you redundant
ask you to keep working
transfer you to a new employer (if the business has been sold)
There are different types of insolvency:
company voluntary arrangement
individual voluntary arrangement
debt relief order
- Check if your employer is insolvent
a redundancy payment
outstanding payments like unpaid wages, overtime and commission
money you would have earned working your notice period (‘statutory notice pay’)
You may be eligible for unemployment benefits if you lose your job. If you do not apply for benefits after you lose your job, you might get less money in your statutory notice pay payment.
Additional information on employer insolvency - your rights can be found on GOV.UK's website.