My neighbour had a conservatory built by a well-known firm. Recently the door wouldn’t fit properly, and she contacted the conservatory firm under the 10-year guarantee. She was told however that the firm had been taken over, and the guarantee was no longer binding. What’s the purpose of a guarantee if you’re not protected in such cases?
A firm that takes over a business doesn’t necessarily have to take over the business’s liabilities as regards guarantees. It depends entirely on the agreement reached between the companies when the takeover took place. I suppose the reason for this is that fewer ailing businesses would be taken over, and more jobs would be lost, if the incoming firm had to take on all the burdens of the one that was giving up the ghost.