It's time to change the law so employees aren't in the dark
One lesson from the shocking clear-out at Clerys is that it's time to enhance and specify the legal obligations owed by company directors to their employees. This should include some provision to keep staff informed about what is going on financially at their employer.
Employees are manifestly directly affected when a company fails, but right now they have no entitlement to see key information that could help them at least understand that risk.
Liquidations are a commercial reality. But the effects go far wider. At Clerys the former employees were instantaneously dismissed, left without any income and deprived of a notice period in which to seek other employment.