Exclusive: News of the closure comes just weeks after firm’s flotation on London Stock Exchange
The Milton Keynes office of international law firm DWF is to close next month, Legal Cheek can reveal.
It is understood that staff at the office were called into a meeting earlier this week and informed of the closure. DWF has 17 members of staff in Milton Keynes, including one partner.
News of the decision comes just weeks after the outfit floated on the London Stock Exchange (LSE) in a move which reportedly raised around £95 million.
A spokesperson for DWF told Legal Cheek:
“DWF has decided not to renew the lease on its Milton Keynes office when it expires on Friday, 31 May. This decision has been taken to ensure that our office portfolio continues to support the strategic objectives of the business.”
The spokesperson confirmed that “where possible, colleagues will be given the option of working agile or to relocate to another office.” Legal Cheek understands there are no plans to close any other offices.
In response to media speculation, DWF confirmed last summer it was considering “a number of strategic options”, including the “possibility” of an initial public offering, in a bid to achieve its strategic “objectives more quickly”. The firm formally announced its intention to float back in February and listed on the LSE several weeks later, with a share price that valued the international player at £366 million.
The Manchester-headquartered outfit has 27 offices across the globe, including 11 in the UK, and offers around 40 training contracts each year — none of which are in Milton Keynes.