Manchester firm Linder Myers seeks buyer as administration looms

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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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