This! Sounds like your old boss is doing you over.
If the person who was buying the business decides they no longer wish to take over, and only purchase the assets instead, then all the original staff are still employed by the existing owner. Whether he has any equipment or customers/contracts to work on is irrelevant, your employment with him doesn't just cease to exist because he's sold all of the equipment needed to run the place. In this case he would have to make you redundant as he can no longer facilitate a running business.
He was probably hoping the new guy was going to take on all the staff, but the new owner has probably decided the costs were too high.
See if you can get some free time with a solicitor who can write a letter to your current boss to point our that you're still employed by him, and that he would need to go through the redundancy process in order for your contract to be terminated.
I don't think you've mentioned yet, but what are the other staff doing? I assume it wasn't only you working there?