[infamouscow]

If you miss payroll the employees are under no legal obligation to continue laboring for you and the clock for resignations starts ticking. Many will not bother with a formal resignation because it's not clear the company still exists in any meaningful way.

I've also worked at both startups and large companies where problems with the bank or payroll software delayed payroll a day. In those situations there's typically overcommunication about the steps being done to get it resolved ASAP so employees don't walk out.