# Cobbetts LLP (OC314724)

> Why UK company OC314724 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/OC314724

- **Status:** Administration ended
- **Administration began:** 2013-02-06
- **Administrators' firm:** KPMG
- **Incorporated:** 2005-08-16
- **Location:** Leeds

## Why it went into administration

- Cash flow / liquidity pressure
- Funding withdrawn / unable to refinance
- Property / lease costs
- HMRC / tax arrears
- Sustained trading losses

## 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

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/OC314724/filing-history/MzA3NTUyODc3OGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/OC314724

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.