Scottish firm Semple Fraser has nominated RSM Tenon as its administrator, following management’s decision to seek protection from creditors earlier this week.
RSM Tenon could not say which partners were involved in the administration because the appointment had not yet been made definite.
In a statement, a spokesperson for the accountancy firm said: “We can confirm that RSM Tenon are the nominated administrators for Semple Fraser LLP. As we are not yet formally appointed, we’re not in a position to comment further.”
RSM Tenon has in the past worked alongside Semple Fraser on restructuring matters such as the administration of Chard FM in 2010.
Semple Fraser’s management sent an email to staff informing them of the decision to file notice to appoint administrators on 6 March, stating that it had become “clear that the business is no longer sustainable in this market” (6 March 2013).
The Lawyer had reported the previous day (5 March) that Semple Fraser was considering all its options in the midst of the firm-wide strategy review and that several firms, including Dundas & Wilson, Maclay Murray & Spens and Weightmans, were looking at acquiring lawyers or even whole offices from Semple Fraser (5 March 2013).
It is understood that Weightmans, in particular, is still trying to negotiate a deal to acquire a portion of Semple Fraser.