100 roles at Shulmans law firm in Leeds have been put at risk of redundancy due to Knights Group purchasing the firm.
Regional firm Knights Group has been on a spending spree, purchasing ASB Law in Maidstone for around £8.5 million and acquiring Shulmans for a price of up to £20.1 million. David Beech CEO of Knights said that Shulmans "has a strong cultural fit with Knights and provides an exciting platform for growth in Leeds." Knights also said in a press release that the acquisition of Shulmans "increases Knights' footprint...in line with the Group's strategy to accelerate its organic growth through carefully targeted acquisitions."
However, a source told RollOnFriday that an omission from Knights' proud press release was that "all support staff in the Shulmans office have just been put on notice and could all be made redundant." As a result, "over 100 people" at Shulmans could lose their jobs. The source added "funnily enough there has been no comment from Shulmans or Knights on this."
Knights going for a cull
A spokeswoman for Knights told RollOnFriday "as with any acquisition, there are synergies in integrating Shulmans into Knights, especially in light of the investments we made in our operational backbone in 2019, including support staff, as we prepared to scale." i.e. business-speak for a strong hint that some P45s will be on their way.