Justice Secretary Ken Clarke has warned that high street firms may have a shaky future with thousands facing closure.
The Tory big beast says that the coming of Alternative Business Structures - which will allow law firms to operate other than as partnerships - will lead to a "whole new world". Clarke told the Birmingham Law Society (infamous for the astonishing tedium of its YouTube videos) that this will bring changes "far, far bigger than most people are expecting". It's still a year until the new ABS rules come into effect, but industry rumours suggest that some 3,000 small firms may go to the wall.
Although 50 of them have seem to have pre-empted such a fate by signing up to QualitySolicitors: one of the worst kept secrets in the legal world was outed by the Gazette this week, which reported that the franchise brand is adding another 50 scalps to its roster of re-branded high street firms.
And apparently there are another 50 to come in the New Year, with rumours spreading that this could include regional heavyweight Dickinson Dees. However the firm has categorically denied this, telling RollOnFriday that "is not, and has not been, in talks with Quality Solicitors over the take over and re-branding of the firm. Dickinson Dees is an independent law firm and we are absolutely committed to remaining so". Which seems pretty unequivocal - although that won't necessarily stop the rumours.
X-Factor's Stacey Solomon - who is the rent-a-sleb at all their branch openings - better be warming up her vocal chords in anticipation.
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The Tory big beast says that the coming of Alternative Business Structures - which will allow law firms to operate other than as partnerships - will lead to a "whole new world". Clarke told the Birmingham Law Society (infamous for the astonishing tedium of its YouTube videos) that this will bring changes "far, far bigger than most people are expecting". It's still a year until the new ABS rules come into effect, but industry rumours suggest that some 3,000 small firms may go to the wall.
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A high street solicitor going to the wall |
Although 50 of them have seem to have pre-empted such a fate by signing up to QualitySolicitors: one of the worst kept secrets in the legal world was outed by the Gazette this week, which reported that the franchise brand is adding another 50 scalps to its roster of re-branded high street firms.
And apparently there are another 50 to come in the New Year, with rumours spreading that this could include regional heavyweight Dickinson Dees. However the firm has categorically denied this, telling RollOnFriday that "is not, and has not been, in talks with Quality Solicitors over the take over and re-branding of the firm. Dickinson Dees is an independent law firm and we are absolutely committed to remaining so". Which seems pretty unequivocal - although that won't necessarily stop the rumours.
X-Factor's Stacey Solomon - who is the rent-a-sleb at all their branch openings - better be warming up her vocal chords in anticipation.
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