You often hear that up to half of all small businesses fail within the first few years. But overall, since the end of the recent global recession, things finally seem to be improving. According to The Insolvency Service, the latest statistics suggest total company insolvencies in England and Wales in 2016 were broadly the same as in 2015, when they were at their lowest level since 2007.

But what does it mean when your employer goes under? If the company you work for becomes insolvent, it means it can’t pay its debts. And with the pub, bars and club sector often having a higher risk of insolvency than the rest of the economy, it’s a good idea to know what to do and to be aware of your rights should your employer become insolvent and go out of business.

The following help-sheet gives practical guidance on types of insolvency, how to claim what you’re owed, redundancy pay and statutory notice, claiming benefits and more as well as details of where you can go if you need further information.