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February 27, 2011

PwC UK to sell local insolvency practice

PwC UK is looking for a buyer for its
Gloucester and Leeds based personal insolvency practice.

The firm said the decision to sell will affect
only those in the Gloucester office, which has about 35 staff.

The management team is currently working with
a PwC business recovery services partners to sell the practice.

PwC said it will remain in the personal
insolvency market, but will focus on delivering complex and larger
cases.

“We are working with the management of the
personal insolvency group to secure a good result for the team and
the firm, and are looking at a number of options including a sale
of the business,” PwC partner and leader of the business recovery
services practice Dan Schwarzmann said.

Begbies
Traynor, KPMG, Mazars and BDO, who are said to
have the largest personal insolvency divisions in the UK, could all
be interested in acquiring the division from PwC, according to some
media reports.

 

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