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I believe this will constitute a Business Transfer and therefore all the benefits ociated with your 12 years service will be carried over. Under the Transfer of Undertakings (Protection of Employment) Regulations (known as 'TUPE'). the existing terms and conditions of your contract of employment will transfer automatically to your new employer (will be 'new employer' I guess, as trading name will be changed). This means that you will normally carry on working as before. If the new employer (business?) refuses to meet the terms of your contract, this will amount to a breach of contract. (See site below). However, a call to the Advisory, Conciliation and Arbitration Service (Acas) may be a good idea. They offer free, confidential and impartial advice on all employment rights issues. You can call the Acas helpline on 08457 47 47 47 from 8.00 am to 6.00 pm Monday to Friday.