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FOR EMPLOYEES
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My employers are of retirement age and I think they may shut down, not sell, the business at some point in the near future (they already have the building for sale). Would I receive severance if this happens? Also, what happens regarding severance if they claim bankruptcy?

Thank you for contacting our firm.

A business ceasing its operations does not mean you are ineligible for a severance package. However, if the business does cease operations or declares bankruptcy, it could be exceedingly difficult for you to try and recover any potential outstanding severance amounts.

The extent of your potential notice and severance payments will depend on a variety of factors, including the existence of an enforceable employment agreement.

We would need more information in order to advise you what you may be entitled to.

If you would like to arrange a consult, you can contact us at the number below.
The Lawyers at Samfiru Tumarkin LLP
Direct Tel (Toll Free): 1-855-821-5900     Email: webquestions@stlawyers.ca     Web: www.stlawyers.ca
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