News that the Solicitors Regulation Authority has stepped in at Blakemores, which has offices in Birmingham and in Leamington Spa, is a shock to the more than 200 employees. The firm is believed to have shut down yesterday. The firm also operated the Lawyers2you brand.
The Solicitors Regulation Authority has intervened, which is often a sign of concern over clients files and clients monies, to oversee the firm’s outstanding work. It said it had stopped the firm from operating, taken possession of all documents and papers held by the firm, including clients’ files, and taken possession of all money held by the firm.
Law firms have been consolidating for some years. Many have severe cashflow problems and can face winding up petitions from HMRC in particular.
KSA Group has worked with more than half a dozen law firms in the last 2 years and is currently co-operating with the SRA on a small London practice
By acting early we have prevented a winding up petition, negotiated with the firm and the SRA to achieve a phased sale through administration and saved jobs.
See our three pages of online guides for lawyers looking for advice on securing their business below. Act now and get help here
Call KSA Group's DEDICATED LAWYERS LINE now on 08455194930