IP’s help 32,000 people to find jobs

Dealing with the consequences of a business failure always presents its own unique set of challenges for our Business Restructuring and Insolvency partners Diane Hill and Mark Getliffe.

One aspect of insolvency work which is always challenging is supporting the workforce through the difficult process of redundancy when their employers’ business fails.

If we are unable to save the business either by supporting management to turn the fortunes of the business around or identifying a new investor or purchaser then often closure and formal insolvency may be the only option, particularly if management has left it too late to seek proper advice.  The unintended consequence is inevitably the loss of jobs for the workforce.

Over 32,000 people facing redundancy have been able to find new jobs thanks to a partnership between IP’s and Jobcentre Plus.

CLB Coopers has been working alongside the Insolvency Service and Jobcentre Plus under a Memorandum of Understanding originally pioneered by Phil Wilson MP to help the employees. Under the initiative which gives early warning of impending redundancies wherever possible IP’s can help employees facing redundancy to find new employment, claim benefits and access training.

Diane Hill, Business Restructuring and Insolvency partner said “it’s impossible to measure the personal cost and impact of a business failure on the workforce. Working alongside the specialists from the government teams helps to lessen the destruction redundancy can cause and provides vital support and information at a very distressing time.”

“The good news is that a new memorandum aiming to foster even closer working relationships between IP’s and government departments has just been agreed by the ministers for employment who have recognised the importance of this public private partnership”.

In one particular assignment CLB Coopers were able to support workers from a major employer in a local area when it went into administration with 90 redundancies. By consulting Jobcentre plus their Rapid Response Team we were able to provide the appropriate level of support for the employees and ensure their managers were available and ready to deal with the volume of claims expected.

CLB Coopers assisted employees with one to one support and information packs providing practical advice and information on benefit and redundancy claims.

If you or your clients need confidential advice in dealing with any financial difficulties you may be experiencing please contact Diane Hill or Mark Getliffe in confidence on 0161 245 1000