The break-up of debt-laden Midlands firm Challinors took a ‘hunter turned hunted’ twist yesterday afternoon (22 August) after administrator RSM Tenon announced its own debt driven acquisition by rival Baker Tilly.
RSM was appointed in July to oversee the sale of Birmingham-headquartered Challinors’ business, and earlier yesterday announced the sale of parts of the law firm’s commercial litigation, medical negligence and family law practices to Clarke Willmott, Shoosmiths and Cartwright King respectively.
But in a mirror of its professional negotiations, the 35-office troubled accountancy firm was in crisis talks with Tilly and, like so many of the companies it advises, was forced into administration after Tilly pulled out of those talks. Continue reading “RSM Tenon in administration as three UK firms carve out Challinors”
The keenly-watched administration of Midlands firm Challinors this evening (20 August) led to a first sale of its personal injury caseload to Liverpool-based SGI Legal.
Birmingham-headquartered Challinors in July became the latest sizeable law firm to call in administrators, having filed a notice of intention to appoint Eric Walls and Wayne Harrison from KSA Group as administrators, who were then replaced by RSM Tenon. Continue reading “Challinors administration: SGI Legal acquires personal injury work of ailing Midlands firm”
It’s not as if anyone needs reminding that the legal market remains challenging, and doubly so for regional advisers. But driving home that point this month, Midlands-based Challinors has become the latest sizeable practice to call in the administrators after the failure earlier this year of Cobbetts and Scots practice Semple Fraser.
The Birmingham-headquartered adviser, which offers services in areas including disputes and private client, has filed a notice of intention to appoint Eric Walls and Wayne Harrison from KSA Group as administrators. Continue reading “Amid a punishing regional market, Challinors becomes latest to call in the administrators”