Except they probably won't 90 days pay from the Insolvency Service, even capped at £500 pw.
A previous employer of mine did the same thing and we were awarded the full whack in a tribunal. We received nothing like 90 days pay due to the various limits.
For me it was a bonus, as I wasn't actually out of work (though I did take a temporary drop in pay). Other people were out of work for long periods of time, and they really needed the money.
Conversely there there quite a few people who would have been eligible, but never claimed. In Miscos's case all 300 people should have been able to claim a few thousand pounds, but only 75 people did. Maybe they couldn't be bothered to fill in the forms, or just wanted to move on in life, or thought they wouldn't have a chance, or thought they were ineligible.