Manchester firm Linder Myers seeks buyer as administration looms

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Readers' comments (11)

  • Yet another PR savvy "go-go" firm which proved to be more blow than go.

    Quelle surprise!

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  • This is a shame - there are some nice people at LM and some decent lawyers. The management has been pretty poor though. Probably inevitable sooner or later as they are exactly the type of firm that was always going to struggle in the new workd

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  • Merger, merger, merger, .......bang.

    Like a balloon inflated with more and more under-performing partners, more and more costs, until finally, and inevitably, it blows up. Seems an incredibly reckless strategy where management did not spend sufficient time bedding down each acquisition and weeding out the inefficiencies before pursuing the next deal.

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  • Can the managing partner reassure the profession that the partners paid their income tax at the end of January?

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  • The firm announced profits of nearly £5M in November 2013. Perhaps the money went to plug a black hole somewhere, but perhaps The Lawyer could do a little bit of that investigative journalism to find out where those profits went.

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  • According to Bernie "the last few months and the Christmas period in particular, proved difficult"....if 3 months of 'difficult trading' has caused the downfall of Linder Myers, where was the previous Management Strategy and Contingency Plan??

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  • I hope that the SRA is deeply involved, not with the financial management & etc but the critical matter as to whether Linder Myers submitted their Diversity Survey data on time.

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  • I can't believe that this upbeat article appeared less than 6 months ago - http://www.thelawyer.com/analysis/the-lawyer-management/the-lawyer-management-linder-myers-solicitors/3008672.article.

    Like all of us I have a lot of sympathy for the `poor bloody infantry' at LM, but I'd like to see what the partners' drawings have been over the past couple of years compared to the hit the creditors are going to have to take. The accounts show that from 2011 to 2012 the directors' emoluments rose by 93% from £2.2m to £4.3m.

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  • Cometh the hour cometh Irwin Mitchell - makes sense?

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  • Head Hunter:

    Problem is with IM is that no one has heard of them, well you can't find them on Google anyway.

    No seriously I wonder if IM are looking, can they raise the capitol? I don't think will have the pockets for it, or will the cash rich S&G think of picking up some of the B2C work..

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  • The problem with anyone acquiring the whole of LM is that they are an awful lot of different entities. The Shrewsbury operation is in itself an amalgamation of three different firms. And, while the Shrewsbury end of things is full of really nice and able people, the same cannot be said of some of the other offices. A further problem is that the business model of buying up failed firms means that you just end up with a whole lot of failed firms, rather than snaffling the better bits of something big that has gone under.

    Another problem is finding the capital to make an acquisition. What sort of pitch do you make to a bank after a number of them have seen the size of the hits that banks have taken?

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