Late on payment, possibility to continue. Company going bankrupt? [duplicate]

Question

I tried searching for a similar question but I don't think any of them answer my question.

I work for a small company and my superiors have recently told us that they cannot guarantee they can pay us on time. This was actually last month and a few weeks after they announced this, they came to me and said they are working hard on paying us as soon as possible.

I was able to receive part of my salary for last month but it wasn't enough to cover my monthly costs.

Despite receiving numerous answers from them that they are working hard to pay on time with the reimbursement from pay that was missed and being told of their strategy to prevent this from happening again I feel very insecure about this situation.

The only option I can think of at this point is to assume the company has probably gone bankrupt but I would like to know what are my other options?

Thank you

Answer 1

The only option I can think of at this point is to assume the company has probably gone bankrupt but I would like to know what are my other options?

Second guessing isn't very constructive. A number of things temporary or permanent may have occurred. None of which matter.

It's your pay (your whole reason for working at all), so you need to start job searching as soon as you can. It's a red flag on fire if staff are being paid with excuses. The reasons behind it are unimportant, a good business doesn't let this happen.

If they sort out the pay you haven't lost anything, if they don't you have a head start on the job hunt.

Answer 2

Despite receiving numerous answers from them that they are working hard to pay on time with the reimbursement from pay that was missed and being told of their strategy to prevent this from happening again I feel very insecure about this situation.

They are trying to make you work there as long as possible. Ultimately, they may just one day say, "We don't have any money, and now you all must go." You can take them to court but if they declare bankruptcy, you might never see any of that pay or a substantial reduction.

My advice is similar to the above answer: start finding a new job. Immediately. And if possible, do not work there until you get paid. It's understandable that you need money to pay for rent, but why show up to a job that you don't get any pay at all and only promises? Explain that you will not work until you are compensated for your work.