In for a penny…

Here we were thinking that top company executives all went to Harrods to bulk up their wardrobes, when the chiefs at Poundworld came along and proved that as a false assumption. Instead they have turned to that leading brand of the high street: Costcutter.

The decision by Poundworld (not be confused with confusingly similar Poundland) to raid Costcutter for legal head David Dresser is an understandable one. The plan was to cut, well, costs. The company, it seems, decided it no longer needed to buy in costly legal advice and could trim a little off the monthly bills with a bit of thrifty in-housekeeping.

The likes of advisers DAC Beachcroft, Gordons and Kempner & Partners are still queing for the check-out when it comes to external advice and are likely to continue to win mandates, having had a relationship with Dresser while he was at Costcutter. Squire Sanders is also hoping to be in the money by winning employment instructions. But saving on outside fees is going to be the name of the game.

Yorkshire-founded Poundworld was once called “Everything’s a £1” before it rebranded. Dresser’s first task is to see whether this slogan works for external legal bills too.

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