DWF swoops in to acquire Cobbets
DWF is set to acquire ailing law firm Cobbetts, taking ownership after Cobbetts sheds its £10.5m debt.
DWF’s managing partner Andrew Leaitherland said: “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. There are many synergies between the two firms in terms of the sectors in which we operate and this collaboration will further strengthen our existing business. I am very much looking forward to welcoming the new team to DWF.”
DWF released a statement explaining that Cobbetts had “built an infrastructure reflecting the buoyant economy of the mid 2000s and had put in place plans to reduce costs. However, poorer than expected trading in November and December last year caused the firm to review its financial position and subsequently obtain an interim statutory moratorium to enable a sale of the business and its assets.”