Skip to content

Entrepreneurs Panel

David Pollock
Brian Hay
Steve Purdham
Charlie Mullins
Richard O'Sullivan
Laura Tenison
Julie Meyer
Jeremy Roberts
Debbie Pierce
Tony Caldeira
Jennie Johnson
Michael Oliver

Cobbetts to enter administration

Administration is looming for law firm Cobbetts. It has filed a notice of intention to appoint administrators and is being put up for sale, blaming tough trading conditions.

Cobbetts, headquartered in Manchester, employs around 500 people in its offices in Leeds, London and Birmingham.

In a statement, the firm said, “Having regard to the difficult trading conditions in the professional services sector, we have reluctantly concluded that the appropriate course at this time is for the firm to obtain the protection of an interim statutory moratorium to enable a sale of the business and assets of the firm to be concluded in a short timeframe.

“We are also working closely with our regulator, the SRA, with all stakeholders and our professional advisors to achieve the best outcome for creditors, clients, employees and members.

“We remain confident that we will be able to provide a further positive update in the very near future.”

The plans to appoint administrators may come as a surprise to some, as in December it announced fee incomes of more than £20 million for the six months to November 2012.

Speaking at the time, Nick Carr, managing partner, said the law firm was pleased with the results which it had achieved during a “challenging economic environment”.

He added, “As forecast, there has been no real growth in the UK legal market over the last six months.

“Considering the prevailing market conditions, we set and met a prudent but still challenging budget, forecasting fee generation in line with the market and seeking to align expenditure to anticipated income.

“Our half year results ensure we remain on target, and new client wins mean that trading predictions for the next six months are strong. We expect to meet our financial targets by year end.”

By Kirsty Hewitt

Cobbetts to enter administration
  • Kathryn Parsons, co-founder of Decoded, started with little more than faith and determination, but four years later it’s grown into a global business. Ahead of her appearance at Accelerate 2015 in...

  • Author, writer and marketer Ryan Holiday on how entrepreneurs need to interpret failure.

  • Sue Vizard, business coach and author of Jump Start: The Start-up Book for Your Dream Business, looks at some of the questions solo entrepreneurs should ask themselves.

  • Ian Wright, founder and chief executive of NonExecutiveDirectors.com, is bringing together SMEs and NEDs - without the hefty recruitment fees.

  • Former professional golfer turned entrepreneur Colin Stevens has had a busy 18 months. The Better Bathrooms founder has increased turnover at the firm, secured a multi-million pound investment and...

Five Minutes With

Reputation is everything when it comes to running a successful business, according to Sacha Lord-Marchionne and Sam Kandel, founders of the Warehouse Project (WHP), a series of club nights featuring DJs from all over the world, which was launched back in 2006.

After travelling the world in a corporate role, Mike Wheeler decided that he had had enough of living out of a suitcase and so got a job running a small family business.