What happens to staff when a company goes into administration?
In People Management, Emma Gross, Solicitor at SA Law, assesses the likely outcomes for employees following monarch's collapse.
Earlier this month, Britain’s fifth-largest airline, Monarch, ceased trading and entered into administration. The airline’s collapse left more than 100,000 passengers stranded abroad and resulted in the UK’s biggest peacetime repatriation, with the Civil Aviation Authority having to coordinate tens of thousands of flights to bring passengers home.
While the primary focus has been on the passengers, there has been little mention of its 2,100 employees who are to suddenly face the perils of unemployment. Pilots, airport staff, air stewards and tour guides are now in the hands of KPMG administrators and will shortly be realising that statutory redundancy packages will provide little solace in the search for new employment...
Click here to read the full article on People Management's website.