I am employed by a company known as, lets say A to B Limited. A to B run our site and have a management agreement on behalf of a company called C to D Ltd. All the employees have contracts of employment with A to B Ltd.
The owner of C to D Ltd is selling the company due to ill health. They have a buyer for the company and when they take over and A to B Ltd stay under the same agreement, everything will be hunky dory and nothing will change.
If the owners of A to B Ltd decide that they do not want to stay and resign, what will happen to the employees? Would TUPE apply in this case and the employees would be transfered across to the new company.
I have heard the new owners say that TUPE would not apply and the employees would just simply be transfered across. Is this so?
Any help appreciated as always