This is a very important area of law whenever you are buying or selling a business.
There are obligations on sellers in terms of the information they provide to buyers when they are selling their business as a going concern.
There are also obligations for staff to be consulted during that period although the requirements on a business owner differ depending on the size of business involved.
Just as important, when you are buying a business you need to understand the obligations that are placed upon you under the Regulations. You must take on the employees on the same basis on which they are currently employed and there is no way of circumventing those provisions unless staff are made redundant in which case the procedure needs to be followed correctly.
When buying you want full employee information and extensive investigations need to be made.
Employment law is complex and dangerous especially when you are buying a business and it is important that you seek the right advice and guidance from a professional advisor. We can give that, as a firm.