Brabners mulls lay-offs after bleak forecast

North West-based firm Brabners Chaffe Street is contemplating lay-offs in its construction and property finance groups after gloomy predictions for 2008.

It is understood that four assistants in the Liverpool office have been told their jobs are on the line.

Managing ;partner Michael Brabner refused to comment on redundancies, but said: “We’re looking at requirements relating to banking and property.”

Both assistants in the Liverpool construction practice are facing the axe, as is half of the four-strong property finance group. It is not thought any partners are included in the review.

Brabners’ ;turnover increased by 15 per cent this year, rising from £26m to £30m, but firm leaders have predicted that growth will stall in 2008 as the credit crunch worsens. Brabner said the firm was expecting a revenue of £31m in the next financial year, an increase of 3 per cent.

He added: “We have to be realistic about what’s going to happen. Some people in banking and property say the world’s already stopped. We need to assess what the future will bring.”

The consultation signals an ;abrupt ;change ;in fortunes for the firm. In August it moved into new premises ;in ;Liverpool following a recruitment drive, which saw staff numbers rise from 319 to 360 across the North West.