Wed, 02 Sep 2015 | ADMINISTRATION
A legal firm in Scotland has entered administration following financial difficulties.
McClure Naismith appointed administrators Thomas Campbell MacLennan and Alexander Ian Fraser from FRP Advisory at the end of last week (Friday 28 August).
They will take on the handling of the business, property and affairs of McClure Naismith while negotiating with other firms around the company's teams and clients.
A number of the firm's partners are already being snapped up by other established legal firms, while Morton Fraser is also thought to be interested in certain parts of the business.
Chairman Robin Shannan has said in the past that the business was interested in a possible merger.
He said at the time: “The legal market is consolidating with the emergence of large, UK-wide multi-disciplinary firms and smaller, specialist practices.
“We have very good lawyers and support staff providing excellent services to a wide range of clients but we are finding that medium-sized, independent firms such as ours lack the scale needed to compete.”
McClure Naismith is one of the oldest law firms in Scotland. It was founded as a Glasgow-based practice in 1826, before going on to open its first Edinburgh branch in 1979. A third branch was opened in London in 1991.
View other companies in administration.
Specialises in the provision of a range of premium pastries, hot and cold snacks, speciality cakes and freshly baked breads for major supermarkets and local businesses across the North East. Highly skilled and experienced workforce whose professional...
LEASEHOLD
The business has been operated by the current vendors for over 25 years and this is the first time the site has been advertised on the open market for over 100 years. The business has built up an enviable reputation throughout the area for quality an...
FREEHOLD
Well-established and very popular MOT station and vehicle repair business Staffordshire. The business was established by our client in 2005 and is only now being offered to the market due to our clients’ desire for change of direction and to concentr...
FREEHOLD
|
15
|
|
Aug
|
Payroll and HR companies acquired by software group | BUSINESS SALE
IRIS Software Group has finalised the agreement of intent to...
|
14
|
|
Aug
|
NG Bailey’s acquisition of Freedom boosts its turnover by 16 per cent | BUSINESS SALE
Engineering and services group NG Bailey’s strategic a...
|
13
|
|
Aug
|
Forensic science equipment supplier completes MBO | MBO/MBI
A private equity firm has backed the management buyout of a ...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources