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.
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