Slaters considers closing two UK offices
ASX-listed law firm Slater and Gordon is considering the closure of two offices in the UK following a tumultuous year.
Last week Slater and Gordon began talking to 51 fee-earners and support staff in two UK offices about their potential redundancies and the closure of the offices.
In a statement, a spokesperson for the firm said: “As part of a review of our property portfolio, Slater and Gordon has begun assessing the feasibility of closing two of our offices, Failsworth and Derby.”
It continued: “During this process we will work closely with all staff who will be impacted if a decision is made not to renew our lease on the site. All staff affected have been made aware there is the possibility of redundancy.”
Slaters share prices on the ASX dropped significantly in November 2015 following proposals to change personal injury regulations in the UK.
At the time, Slaters said the proposed changes would have no impact on its 2016 financial performances.
However, since then, McGrathNicol has been appointed by Slater and Gordon's leading investors to look at the firm’s books, and the firm's half-year financial results update has been postponed from January to February 2016.
Slater and Gordon managing director Andrew Grech is in the UK visiting various offices this week to review the future direction of the business, according to The Law Society Gazette.
There is no indication at this stage that Australian operations are likely to be affected by redundancies.