Don't forget, if the owner is trying to heart wring you, they will have been insured against this so don't go feeling guilty and bad on their behalf. You have possibly lost your livelihood just as much as they have lost theirs. I know they will be gutted, but so are you.
Your rights are just as they would have been had the employer disposed of you in any way during the normal call of business. Remember � Insurance covers all. Though obviously, phrase it better if he is distraught (or pretending to be on your behalf. Sorry I�m cynical). If you're in a union, or any of your colleagues are, get them to ask the solicitors to check out various clauses, otherwise you'd still best do it but it will obviously be out of your own pockets.