Scottish law firm Semple Fraser to enter administration

Semple Fraser Glasgow-headquartered law firm Semple Fraser has announced its intention to enter administration

Related Stories

Scottish law firm Semple Fraser has confirmed its intention to appoint an administrator, putting more than 100 jobs at risk.

The company, headquartered in Glasgow, was formed in 1993 and has 20 partners and about 100 staff.

Its move has been attributed to the economic downturn.

Semple Fraser partners said that, following an exhaustive review of the business, it had decided it "is no longer sustainable".

The firm focused on a number of specialist sectors, including property, renewables, construction, finance and waste with offices in Glasgow, Edinburgh and Manchester.

On Tuesday, the company had announced it had launched a strategic review and was assessing options "for the future of the firm".

Reduced turnover

In 2010/11, Semple Fraser posted revenues of £12.2m, an increase of 10% on the previous year, but the figure was still lower than before the 2008 crash.

The firm's turnover was £15.4m in 2006/07.

Managing Partner Simon Etchells said: "It is with great regret that, after having considered every possible option to secure the future of the business, it was clear that administration is the only option."

Lorna Jack, chief executive of the Law Society of Scotland, said: "It is very sad news to hear that Semple Fraser is to go into administration.

"Many law firms have struggled during the economic downturn. However, that is no consolation to those who make the difficult decision to close their business and the impact it has on their colleagues."

Accountant RSM Tenon has been declared as the nominated administrator.

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

More Scotland business stories

RSS

Features & Analysis

Elsewhere on the BBC

  • GeoguessrWhere in the world?

    Think you’re a geography expert? Test your knowledge with BBC Travel’s Geoguessr

Programmes

  • Suspension bridge connecting mountain peaksThe Travel Show Watch

    Must-see global events including walking the first suspension bridge to connect mountain peaks

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.