Scottish firm fails
Scottish commercial firm Semple Fraser has announced it intends to appoint administrators.
In a statement released today, the firm said it had been ‘severely affected’ by the downturn and contraction in parts of the corporate, property and construction sectors.
It added that following an exhaustive review of operations, partners decided that the business was no longer sustainable.
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.
‘It’s our understanding that the partners at Semple Fraser have explored and exhausted all options to try to secure the future of the business but, unfortunately, administration is now the only route available.’
The firm was formed in 1993 and has 20 partners and around 100 staff. It has offices in Glasgow, Edinburgh and Manchester, where around 16 people are employed. The firm specialises in property, renewables, construction, finance and waste.