Simply Conveyancing has announced the closure of its Peterborough office, with over half of its employees being made redundant just weeks before Christmas.
In a statement shared on LinkedIn, the firm attributed the decision to a strategic realignment aimed at focusing investment and growth in key geographic locations. Despite efforts to minimise job losses, the move has sparked industry debate over the timing and necessity of the redundancies.
The strategic pivot coincides with the recent opening of a new office in Leeds, which chief executive Alan Young, former CEO at L&C Mortgages, described as one of the UK’s “fastest-growing cities,” boasting a “thriving legal and professional services sector.” The Leeds expansion is part of a broader effort to tap into the city’s talent pool and enhance northern operations.
However, some industry professionals have raised questions about the rationale behind the redundancies.
FINANCIAL PRESSURE
A 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.”
Simply Conveyancing stated that approximately half of the affected roles have been retained through redistribution and that the company is offering free third-party private counselling to support employees through the transition.
STRATEGIC GOALS
Young expressed gratitude to the Peterborough team, acknowledging their contributions to the business while emphasising that the closure was driven by strategic goals rather than a reflection of the team’s performance.
He added on LinkedIn: “This decision aligns with our firm’s vision and is not a reflection of the Peterborough team, whose efforts have been deeply valued. We remain committed to supporting employees and clients during this transition.”
This development comes during a period of change for the firm.
Young, who joined Simply Conveyancing as chief commercial officer in August 2024, became CEO in September, succeeding Doug Crawford.
SHIFTING MARKET CONDITIONS
Young has been tasked with steering the company amid shifting market conditions and heightened competition.
Tess Andrews was recently appointed chief strategy and transformation officer to spearhead growth and innovation, bringing a wealth of experience from roles at Livingbridge and McKinsey, as well as non-executive positions across various sectors.
While the firm maintains that current market conditions remain positive, the closure and redundancies hint at underlying challenges, including financial pressures.
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.
