Jobs at risk as law firm Cobbetts nears administration

The firm told staff of the news this morning.

In a statement, the company said: “Having regard to the difficult trading conditions in the professional services sector we’ve 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 time frame.

“We’re also working closely with our regulator, the SRA, with all stakeholders and our professional advisers to achieve the best outcome for creditors, clients, employees and members. We remain confident that we’ll be able to provide a further positive update in the very near future.”

Cobbetts had come close to merging with rival DWF, but talks broke down a year ago with both parties citing uncertain market conditions.