In a case of a suspension, you application will put on hold till the license thing gets sorted. You can submit a new application in the meantime if you need. (Eg: You can change the job and submit a new application from them in the meantime. I think there are no restrictions for that. )
We had the same issue recently and after a HO visit (Around June 2017) they sent a suspension ( NOT REVOKE ) notice pointing few things about the company and the employees. It took more than 2-3 months for the suspension notice.
Now we got 20 days to respond to that and we'll do that by the end of this week.
The revoking process starts
ONLY if they are not happy with our response AS I KNOW. (Not 100% sure)
What is the expiry date of your current visa?
If you have more than 60 days, IN CASE OF A REVOKE, it will be curtailed to 60 days and you can find new sponsor or arrange any other plans within that time period. ( They will send you the documents including passport )
Normally the curtailed letter is sent out after few weeks to months. So, you'll have enough time in this case.
You can find more about the letter here.
https://www.gov.uk/government/uploads/s ... tv16.0.pdf
BUT IN CASE YOUR VALID VISA IS OVER BY NOW, I have a doubt that they will hand over the passport at the airport. I am not sure at all and couldn't find any examples. But logically I feel that's what is going to happen.
Double check this document and below is the point 19.9
https://www.gov.uk/government/uploads/s ... 5-2017.pdf
What happens to my sponsored migrants if my licence is
revoked?
19.9 If we revoke your licence, we will:
immediately end (curtail) the permission to stay in the UK, or worker
authorisation of any migrants whom we believe were actively and knowingly
involved (complicit) in the reasons for the revocation of your licence – such
Page 87 of 205 Tiers 2 and 5: guidance for sponsors - version 05/17
as if the migrant agreed that you would arrange a non-existent job for them
so they could come to the UK
shorten the length of the worker authorisation, or permission to stay in the
UK of any other migrants who were not actively involved to 60 calendar
days - if the migrant has fewer than 60 calendar days of their leave or
worker authorisation remaining, we will not shorten it
Hope you got an idea. I'll keep updated if we have any news. Cheers