SSB Law: Staff at Sheffield legal firm left 'in tears' as 220 employees face redundancy
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The devastating news left staff in tears, the worker added.
He said: “We received an email from chief executive Jeremy Brooke stating he was planning to file for administration. Some of us went to his office and asked him to explain himself and he spoke to about 70 of us but it sounded like a pre-prepared statement."
“People were crying, a team leader who was on annual leave has just had a mortgage go through. Coming so close to Christmas this is devastating for everyone."
Three weeks ago staff were left worried by the closure of the cavity wall insulation claims department, he added.
SSB Law worked on a ‘no win no fee’ basis that relied on external funding to bring cases to court, the worker said. It would take a cut from compensation following a successful outcome but it wasn’t winning enough, he claimed. The company was also affected by a rise in businesses settling claims with people before court.
SSB Law Ltd, based at Navigation House, South Quay Drive, Victoria Quays, has filed a Notice of Intention to appoint administrators, giving it 10 days’ protection from action by creditors.
In a statement, directors revealed that they are seeking to put the business into administration, saying it had suffered 'ongoing financial challenges and has been marketed for sale in order to secure fresh investment'.
A spokesman at FRP Advisory, the likely administrators, said: “Directors of the company are working with the proposed administrators to facilitate an acceptable outcome for clients and the company is in contact with the Solicitors Regulation Authority to ensure all standards and regulations are met. All clients will be contacted in due course and are not required to take any further action.”
The Star contacted Jeremy Brooke for comment.