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This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Nottingham-based legal head-hunter Wellman-Smith Central is talking to liquidators with a view to putting itself into voluntary liquidation.
The two founders, husband and wife Karl Wellman-Smith and Liz Mitra, will go it alone as a partnership after the restructuring, specialising in executive search services for lawyers.
The move comes as the legal recruitment market is going through a boom period.
But Wellman-Smith said the company had recently found it difficult to retain consultants. "We found that as people joined us and became more experienced it was hard to keep a sufficient core of experienced people," he said.
The pair started in 1989 as a partnership, moving from advertising-based recruitment to head-hunting four years ago and incorporating two years ago when the firm reached its peak of 10 consultants.
Mitra added: "We had considered other options, such as introducing external investment, but no acceptable offer was found."
Wellman-Smith explained: "Times got bad, and we had to make a fundamental decision about the direction we wanted to go in.
"Since the decision was made we've spoken to a lot of clients and we've had a tremendous and positive response."
Market insiders say the company was a victim of its own expansion. One former consultant, who declined to be named, said the company had experienced a lot of fee-earner losses, which hit its turnover.