From the administrators' statement

The LLP was incorporated on 16 August 2005, however, the business was initially established in 1838 and, since 1986, had grown as a result of a number of mergers and acquisitions The LLP was a full service law firm with offices in Manchester, Leeds, Birmingham and London, servicing a wide range of chents from PLC’s and Institutions to mid-market owner managed businesses

The LLP had 73 Members and 439 staff across its four offices Turnover in FY12 was £45 4 million generating a profit before Members’ remuneration of £9 7 million

The LLP suffered a significant downturn in trading performance during 2009 due to the general economic climate and, in particular, the reduced number of property and corporate transactions The LLP had entered into expensive new leases in 2006 and 2007 which, combined with the downturn 1n trade, led to a decline in profitability, some cash pressure and an over reliance on short term funders

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Cobbetts LLP (OC314724)

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