Storm Clouds?

Is it a coincidence that 2 of the top 4 stories in the current Gazette involve northern firms going into administration? The circumstances surrounding Cobbetts is the more controversial, especially the “pre pack” sale and the resultant 2p in the pound to unsecured creditors. (Do not get me started on this topic and administrators).

Closer to home is Atteys – not least because yours truly was their “Liaison Manager” during the days of voluntary LA Franchising. As one of the commenters to the story says

Atteys were a well-run High Street firm practicing in family law, civil litigation, property and probate (including legal aid and personal injury). It just goes to show that, regardless of what Jackson says about “too much money swirling around in the system”, times are in fact very hard for local Solicitors.

The fact that there are apparently 60 bids for parts of the firm, its branches etc look as if they are going to be split up, attests to this. There is a line of thought that a multi-branch structure might, even, itself be a cause of this type of problem.

Sadly, to answer my own question, I do not think that this is just down to coincidence.

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