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Administration is looming for North West law firm Linder Myers, which has signalled its intention to appoint administrators.
The firm filed its intention to appoint administrators today (6 February) at the Manchester District Registry Court.
The £18.7m firm said it wanted to sell the business or find a merger partner, putting a question mark over its 260 staff and 51 partners.
Bernard Seymour, managing partner at Linder Myers said in a statement: “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 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.”
It is a turnaround in fortunes for the firm, which is more used to buying other firms out of administration. It bought fellow Manchester firm Rowlands Field Cunningham (RFC) out of administration in 2012 when it planned to grow from a £10m to £25m operation in three years (3 January 2012).
Then in October 2012 the firm bought fellow Manchester firm SNG Commerical Law out of administration and in the same week completed mergers with Chester-based Drummonds Solicitors and Lancashire-based Senior Calveley & Hardy Solicitors (1 October 2012).