Knights keeps growing as it moves into Majestic building in Leeds alongside Channel 4
Knights, which recently acquired leading Leeds law firm Shulmans, will be joining Channel 4 in the Majestic, which has been comprehensively refurbished by the Rushbond Group.
The redevelopment of the six-storey Majestic, formerly both a cinema and a nightclub, was completed last month with Channel 4 taking three floors.
In a statement issued at Knights' AGM, the group’s chairman, Bal Johal, said: “The last financial year saw Knights deliver another year of strong cash generative, profitable growth with organic growth complemented by acquisitions, in line with our strategy to build the leading legal and professional services business outside London.
"In the current financial year, the board is pleased to report an encouraging recovery following the initial disruption from COVID-19.
"As previously reported, the group experienced a circa 20 per cent decline in new business in the early weeks of the current financial year. However, the level of instructions has steadily improved through July / August and into September.
"The group is currently operating at a run rate equivalent to a circa 10% decline in new business compared to pre-COVID 19 levels and the board expects this ongoing improvement to continue over the remainder of the year.
Mr Johal added: "We are particularly pleased to have continued our strong momentum in recruiting senior level talent from traditional partnership models, many of which are Top 50 law firms, which we had previously stated would be our near term focus following the recent acquisition of a number of high quality firms.
"The recruitment of senior fee earners has continued to show strong momentum with 23 partners having already joined or accepted positions to join in the current financial year. We are also pleased to confirm that our recent acquisitions have been integrated ahead of schedule and are all performing well.
"We anticipate that COVID-19 will continue to accentuate both recruitment and acquisition opportunities for our resilient business in the highly fragmented market for legal services outside London."