When Midlands-based HCB Solicitors registered the company name HCB Linder Myers the day after the ailing Manchester firm announced its intention to appoint administrators, it looked like Linder Myers had been rescued.
But along with the news that HCB has now pulled out comes questions over how long Linder Myers can hold out for a pre-pack sale.
The rules enable the firm to re-file notice every 10 working days. By our calculations that means it’s on its third to date. Does that mean there’s still an offer worth considering on the table?
The longer a firm stays in limbo, the more pressure there is from creditors and lenders, potentially driving down value. Time is of the essence.
Meanwhile, over at Davenport Lyons, tails are up. CEO Richard Williams tells us that unlike Linder Myers, the West End firm is not on the verge of administration. But with two failed merger talks already, there’s still work to do.
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