Simply Conveyancing has closed its Peterborough office with over half the team being made redundant just weeks before Christmas.
On Friday a statement by the conveyancing firm on LinkedIn put the closure down to a change in strategy to focus investment and growth in key geographic operational locations and said it had done everything in its power to ‘minimise job losses’.
In October Simply Conveyancing opened a new office in Leeds – a City described by Chief Executive Alan Young as one of the ‘fastest-growing cities in the UK’ with a ‘thriving legal and professional services sector’.
Friday’s statement said: “This decision aligns with our commitment to supporting our northern expansion by leveraging the available talent pool through the recent opening of a new office in Leeds. We will continue to provide coverage in the North, South, East, and West, utilising our office locations to their fullest potential.”
POSITIVE CONDITIONS
But it added: “The current market conditions are positive, and we are committed to supporting our employees through this transition.”
And it went on to say: “We have done everything in our power to minimise job losses, with almost half of roles saved through redistribution.
“We are also supporting employees with free third-party private counselling services available to all employees.
“We remain dedicated to our employees and clients during this transition, and thank everyone for their hard work and service.”
STRATEGIC CHANGES
Alan Young added on LinkedIn: “Today, we are announcing the closure of our Peterborough office as a result of strategic changes.
“To our incredible team: thank you for your dedication and contributions which have helped shape our success.
“It is never easy as a CEO to make these decisions, and I am delighted that so many of our Peterborough team will remain with the business.
“This decision aligns with our firm’s strategic vision, and is not a reflection of our Peterborough team, whose efforts have been deeply valued.
“We are navigating these changes during positive market conditions, and I am confident in our ability to support our employees and clients through this transition.
“I would like to thank our clients for their understanding. Together, we will continue to build a strong future.”
FLEXIBLE WORKING
But one conveyancing expert told Property Soup: “The big discussion in the property industry is that with flexible working, why make people redundant and recruit in Leeds?
“These employees could work remotely or be redeployed to the Daventry head office. This decision feels more like financial pressure from Livingbridge, their Private Equity shareholder, following the loss of a major introducer earlier this year.”
Young, former Chief Executive of L&C Mortgages and who also founded conveyancing panel management business Optimus which sold to Landmark Information Group in 2019, joined Simply in August 2024 as Chief Commercial Officer. He was appointed Chief Executive following the resignation of Doug Crawford in September this year.
Last month Simply Conveyancing appointed Tess Andrews as Chief Strategy and Transformation Officer to accelerate the firm’s growth and innovation in the residential conveyancing sector.
Andrews previously served as an investment director at Livingbridge, as well as holding roles at McKinsey and various cross-sector non-executive positions.
Simply Conveyancing reportedly lost one of its biggest introducers earlier this year, a factor that some speculate may have influenced the strategic restructuring.
Young was contacted for comment.
