A prominent law firm based in the North West has filed a notice of intention to appoint administrators yesterday (6 February).
Linder Myers LLP filed the intention at Manchester District Registry Court, as a result of the “increasingly challenging environment” in the UK legal sector.
The firm, which employs 260 staff and 51 partners, has grown steadily over the past two years, completing a number of acquisitions and hires.
Managing partner Bernard Seymour said: “The increasingly challenging environment in which law firms are operating has made trading very difficult in recent years.
“Following a successful period of growth at Linder Myers, the last few months and the Christmas period in particular, proved difficult and we have taken the decision to file an intention to appoint administrators in order to protect the business and our valued employees and partners.
“We are currently having some positive negotiations with a number of interested parties with a view to either selling the business or merging with another firm.
“Linder Myers clients will remain unaffected as business continues to trade as usual.”
Linder Myers recorded annual turnover of £15.9m in the year up to 30 November 2012, a 57% year on year increase.
The firm made a series of acquisitions over the past two years, including Rowland Field Cunningham (December 2011), Turnbull Garrard (April 2012) and Dickson Haslem (September 2013).
Earlier this week North East solicitors Swinburne & Jackson LLP entered administration as the casualties in the UK legal sector continued to pile up.
Two other legal firms have entered administration so far in 2014 – Lealaw Limited and Barnetts Solicitors.