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Staff at former Cobbetts debt recovery business Incasso have been put into redundancy consultation by new owner HL Legal Solicitors weeks after the debt recovery specialist bought the business from the failed firm’s administrators.
A spokesperson for HL Legal Solicitors confirmed that the company is “currently reviewing the business and consulting staff appropriately”, but would not go into details about how many staff are likely to be impacted by the 30-day consultation. However, as the consultation period has been set at 30 days the number will be between 20 and 99, as set out in government guidelines.
The Lawyer also understands that Incasso head Mark Taylor has left the business, although staff at Incasso and HL Legal would not confirm this.
It has been a difficult few weeks for Incasso, which at one point was the only team from Cobbetts without a new home following the Manchester firm’s collapse. DWF had agreed to purchase the majority of Cobbetts as part of a pre-pack administration (6 February 2013), but it did not take on the firm’s finance litigation team or Incasso.
Walker Morris acquired the finance litigation practice (7 February 2013). Redditch-based HL Legal, which provides pre-legal collection services and litigation advice to lenders, debt purchasers and other businesses, purchased the debt recovery business from KPMG, whose partners Mark Firmin, Brian Green and Howard Smith acted as the failed firm’s administrators, a week later (14 February 2013).
Both Incasso and HL Legal declined the opportunity to comment further.