Foreclosure law firm closes doors; 700 workers lose jobs, are told there’s no money to pay them
Butler & Hosch, one of the nations largest foreclosure law firms shut their doors last week. The Firm, founded in 1972, had offices in multiple states and was handling up to 60,000 foreclosure cases when it closed.
The employees were notified of the closing on May 14 through a memo issued by Bob Hosch, CEO of the firm, stating, “I have voluntarily stepped down as CEO and Senior Partner…”. Bosch blamed the speed in which the firm grew for the troubles “Unfortunately, BH grew too fast and could not merge processes from the acquired entities quickly enough to meet our economic forecasts, which resulted in short-term cash crunches”
For the full story visit ABA Journal — Foreclosure law firm closes doors; 700 workers lose jobs, are told there’s no money to pay them.