RollOnFriday understands that Ince Gordon Dadds is offering only statutory redundancy to its staff who have been shafted as a result of the merger.
Gordon Dadds completed its purchase of troubled Ince & Co on New Year's Eve. It has been a less than smooth start to the new incarnation. It was revealed that Ince & Co was placed into administration immediately before its acquisition as part of a pre-pack deal. Pre-packs enable a purchaser to buy a business free of its liabilities, potentially leaving creditors in the lurch.
IGD initially defended its tactics by saying that it fully intended to settle all its debts and that the pre-pack was not a device to enable Gordon Dadds to escape Ince's obligations. However when asked last week whether Ince's creditors would be repaid in full, an IGD spokesman said that it would be "a question for the administrator" adding that "it's not Gordon Dadds' job to repay creditors".
As well as the purchase potentially screwing over Ince's creditors, the newly created firm has also started a redundancy consultation in Ince's London office with 45 jobs at risk. A source told RollOnFriday that IGD is "very generously offering statutory redundancy and nothing more", adding rather bleakly that "those willing to go voluntarily will be offered an extra week's pay for their contribution to the firms success." It's not all bad news though. Another source said that around 25 jobs are being advertised internally - all but two of which will be based in the Llanmaes office, which is on the country estate of CEO Adrian Biles. No doubt staff can tug their forelocks as their new owner is driven past them.
When RollOnFriday contacted IGD this week about the statutory redundancy, a spokeswoman for the firm said that the source was incorrect, but wouldn't elaborate further. When asked if she would confirm in writing that staff would be paid above the statutory minimum, the spokeswoman confirmed on the phone that she would do so and send it over. Spookily enough no such statement was forthcoming. When chased for this yesterday the spokeswoman would only say that "it is inappropriate for us to comment on the consultation process". Readers may draw their own conclusions.