If the business goes bankrupt will I still get my holiday pay?

Question

Accepted Answer

Being owed wages by a company that's gone out of business is tricky. If a company can’t afford to pay its debts, it may be insolvent and be put into liquidation. Any secured creditors can enforce their securities first. The official assignee then collects and sells all remaining company assets and distributes proceeds among the company’s creditors. Preferential creditors are paid in priority to unsecured creditors.

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