Categories:UK

Fox Hayes fall offers hard lesson in capital management

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Readers' comments (8)

  • TUPE

    Surely a great test case for whether the service provision change provisions of TUPE 2006 apply here so that the associates can claim to have followed the work?

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  • Fox hayes

    Yes it is true to say that Fox Hayes should have diversified into other areas of law and this was a fault of the management ,but if the conveyancing market hadn't crashed & the interest rates had stayed above 4% then Fox Hayes would still be in business.
    I believe the partners worked extrmely hard to keep the business going since Northern Rock was privatised, trying their best to keep as many people in employment to the detriment of themselves.

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  • Editorial Feedback

    Very well drafted article by the author

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  • A reflective comment

    As a ex-employee who was made redundant in the second round of redundancies in 2008 I have watched the saga unfolding but have had time to reflect and although my redundancy was traumatic the pill was not bitter as each and every one who has lost their job due to the administration of the firm. They all have my sympathy and I wish them luck in the future.

    What must be remembered is that Fox Hayes LLP was two firms Fox Hayes PTC and Fox Hayes the law firm. PTC was a successful part of the firm and would have continued to be so had the downturn not occurred. What happened over the growth period was that the law firm sat backed and milked the income from PTC instead of it growing at a similar pace. The law firms business plan was to revolve around entraupenerial clients which is all well and good but when times are hard they simply disappear. Despite suggestions that they should look to attract larger and more substantial clients or get invloved in debt collection insolvency and repossession work those suggestions fell on deaf ears and were dismissed.

    Now that the law firm has gone to Lupton Fawcett the partners and staff will have to show their worth to survive and I'm sure they will not get an easy ride. We shall see. So far as APL is concerned the blueprint of FHPTC was fundementally sound but the life blood was sucked out of them by others. I wish them well and hopefully a Pheonix may rise from the ashes and they will learn from previous mistakes.

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  • Foxys Fall

    As an ex-employee (got out in 2006) the whole point of the big white bespoke building was that Fox Hayes would be ONE firm - united! This was constantly emphasised and Drazen himself said "Work Hard for Us and We'll Look After You." That unity didn't last very long when times got tough! The conveyancing part was the money spinning part - and they were the ones who suffered the most in the property crash. If the firm was going to go down, it should have gone down together. The whole business stinks and i'm not surprised Drazen isn't commenting. Anyway, whatever he says is a big lie!

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  • Anonymous

    Could have sworn you said in your previous posts couple of weeks ago regarding Fox Hayes that you had no connection at all with FH. Incidentally, I have never worked for them - I am from Manchester, but do know of them.

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  • Who has taken responsibility for the outstanding conveyancing work since Fox Hayes went into Administration?

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  • Where should negligence claims against Foxhayes be directed? Advantage Property Lawyers ?

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