Co-op Legal Services announce big losses in 2013

Co-op Legal Services have announced an operating loss of £9.1m on a turnover of £33m in 2013. They have also announced a £13m “goodwill impairment” following a reassessment of its business plan, according to the Law Society Gazette.

The Co-operative Group has announced overall losses of £2.5b for 2013.

Hastings & Co Solicitors are based in Chelmsford, Essex and specialise in employment law, litigation, accident claims, Landlord & Tenant law, commercial law.

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Co-operative Legal Services

Co-operative Legal Services are being watched by thousands of independent solicitors throughout the country. They were one of the first organisations to be granted an Alternative Business Structure licence by the Solicitors Regulation Authority in 2012.

What’s all the fuss? Certain services can only be provided by solicitors including conveyancing and litigation and prior to October 2011 only solicitors could employ solicitors to offer those services. This effectively meant that solicitors had a monopoly on those services however as of October 2011 other organisations, not necessarily owned by solicitors, have been able to apply for licences to become Alternative Business Structures and to offer regulated services.

It was dubbed “Tesco law” as people speculated that the likes of Tesco would wish to offer legal services. As it happens, I am not aware that Tesco has shown any interest in offering legal services however the Co-op group has and hence the birth of Co-operative Legal Services.

So how are the Co-operative Legal Services doing? According to the Law Society Gazette they posted a £3.4m loss in the first half of 2013. The Co-op Group are not doing too well either as according to the BBC they made losses of more than £2bn in 2013.

I’ve just had a look on the website of Co-operative Legal Services to see whether they have any branches in Essex. However, all I could find was a local rate telephone number so I’m none the wiser whether you can see a solicitor from the Co-operative Legal Services in Essex.

Liam Hastings is a solicitor at Hastings & Co Solicitors. Hastings & Co Solicitors is a niche solicitor’s practice in Chelmsford, Essex specialising in debt collection, litigation, employment law, personal injury, landlord and tenant and commercial law. For independent advice contact us on 01245 835 305.

Quality Solicitors

Quality Solicitors FJG of Colchester and Chelmsford has announced that it’s leaving the Quality Solicitors network. FJG will revert back to their original name Fisher Jones Greenwood.

Quality Solicitors is a network of independent solicitors. Solicitors that have signed up to the Quality Solicitors network rebrand and usually get called  Quality Solicitors followed by their original name.

Fisher Jones Greenwood’ Managing Partner, Paula Fowler, has said “QualitySolicitors is the fastest growing legal network in the UK and has enjoyed tremendous success and we wish all the firms that remain within QS all the very best for the future.  However, feedback from our clients and professional connections, in this, our 30th year, has given us confidence that the Fisher Jones Greenwood brand is sufficiently strong in our target markets to go it alone.”

Quality Solicitors are being watched by thousands of independent solicitors throughout the country. They were one of the first nationwide marketing collectives for solicitors.

Hastings & Co Solicitors is a niche solicitor’s practice in Chelmsford, Essex specialising in debt collection, litigation, employment law, personal injury, landlord and tenant and commercial law. For independent advice contact us on 01245 835 305.