Scottish firm Semple Fraser has gone into administration.
Last month RollOnFriday was tipped off that the 20-partner firm was in desperate merger talks and could go under within days. The firm categorically denied this. So presumably staff were completely surprised on Wednesday morning when they received an email saying that an administrator was being appointed, and "it is clear that the business is no longer sustainable in this market". 100 jobs are on the line.
Semple Fraser has offices in Glasgow, Edinburgh and Manchester. It is the third firm to go to the wall in nearly as many weeks: Calibre Solicitors went under last week after the PI reforms meant that it was unable to make ends meet, and Cobbetts had to be rescued by DWF after going into administration at the start of February.
Four weeks ago a spokesman said that the firm was "trading well" and had "had some good wins this year". This week a spokesman said "the firm has been severely affected by the downturn in the economy and the dramatic contraction in parts of the corporate, property and construction sectors in particular. It is with great regret that after having considered every possible option to secure the future of the business it was clear that administration is the only option.”
Tip Off ROF
Last month RollOnFriday was tipped off that the 20-partner firm was in desperate merger talks and could go under within days. The firm categorically denied this. So presumably staff were completely surprised on Wednesday morning when they received an email saying that an administrator was being appointed, and "it is clear that the business is no longer sustainable in this market". 100 jobs are on the line.
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Another unhappy Scotsman this week |
Semple Fraser has offices in Glasgow, Edinburgh and Manchester. It is the third firm to go to the wall in nearly as many weeks: Calibre Solicitors went under last week after the PI reforms meant that it was unable to make ends meet, and Cobbetts had to be rescued by DWF after going into administration at the start of February.
Four weeks ago a spokesman said that the firm was "trading well" and had "had some good wins this year". This week a spokesman said "the firm has been severely affected by the downturn in the economy and the dramatic contraction in parts of the corporate, property and construction sectors in particular. It is with great regret that after having considered every possible option to secure the future of the business it was clear that administration is the only option.”
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