Law firm DWF is set to rescue the struggling solicitor company Cobbetts in a pre-pack due to be managed by KPMG.
Cobbetts, which owns debt recovery specialist Incasso, confirmed earlier this week that it was set to go into administration and had obtained an interim statutory moratorium to enable a sale of the business and its assets.
DWF said that the deal will secure a “favourable outcome” for Cobbetts’ creditors, members, employees and clients.
The process of transferring Cobbetts’ employees across to the business is due to start in the next seven days if the deal is approved.
Andrew Leaitherland, managing partner and chief executive of DWF, said: “We will do all we can to make the integration as smooth as possible, however, as you’d expect in a move of this size, there are some areas of overlap and we may have to displace people or find them alternative roles.”
He added: “DWF’s plans to grow, in a strategic, targeted way have been clearly set out and this move supports that goal.
“I am confident that the merging of the two firms would bring genuine benefits to both and, importantly, the joint client base.”
DWF promised to ensure a smooth transition for clients of Cobbetts and the “continuation of service delivery and business as usual”.