Can company sell itself without the knowledge of the employees

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Written employment agreements are a legal requirement, and must contain a provision that sets out what will happen if a business is being sold. You must follow the process set out. Usually, this process will involve: • Talking to employees about the sale or possible sale as soon as is reasonably possible; • Discussing with the new employer (the buyer) whether the employees will be offered employment with them and on what terms; • Telling the employees that it is their choice to transfer or not if they are offered employment, but that their employment with you will end because of redundancy. The redundancy provisions contained in your employment agreements will apply, including any compensation provisions. The seller of the business will take responsibility for the payment of wages and salaries, PAYE, holiday and other leave entitlements up until the date of settlement, unless another arrangement is agreed with the buyer.

Advocate Siddhant Sharma LawRato