Mon, 12 Aug 2013 | ADMINISTRATION
RSM Tenon has been tasked with selling Challinors, a large solicitors firm situated in the Midlands.
RSM Tenon took over from KSA Group administrators at the start of August, and has received many expressions of interest from other law practices seeking to buy up all or part of Challinors.
Andrew Hosking, the national head of lender services at RMS Tenon, who is leading the administration process, wanted to deal with speculation that the administrators had broken solicitors’ practice rules by naming a list of clients of the firm in order to heighten interest in the sale.
He said it was “manifestly inaccurate to suggest we are bandying about clients names and details.”
All interested buyers have to sign a non-disclosure agreement before being able to view details regarding the business and sale. This data includes some “non-specific client information”, and Hosking was quick to add the regulator has been informed of this process.
“The Solicitors Regulation Authority is completely aware of how we are approaching this matter,” he added.
Challinors announced its move into administration on 24 July 2013, owing over £11 million to about 250 creditors, thought to include two clients that had lent a total of £650,000 to the business. It owes over £4 million to Allied Irish Bank and about £500,000 to HMRC.
Based in Birmingham, Challinors has offices in Wolverhampton, West Bromwich and Halesowen, employing a total of 200 staff.
Contact the administrator here
___________________________________________________________________________
Related information:
Eastleys Solicitors saved in a pre-pack administration
Profit from buying a distressed business
View financial businesses for sale
A leading engineering firm focusing on electric power steering solutions and bespoke wiring harnesses serving various industries. It operates as two entities both reputable for maintaining high standards and offering bespoke solutions for clients. In...
Market-leading fruit and vegetable supplier distributing fresh produce and complementary goods both wholesale and D2C. The companys uncompromising drive for customer satisfaction has built strong relationships with across an enviable client base incl...
Turnkey construction services provider completing a range of projects with expertise across maintenance general refurbishment new build and conservation including work on listed buildings. The company provides full-service construction works utilisin...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.