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Simpson Millar have obviously cleared the decks and have fresh finance in place. What this really means is that they are now playing with other peoples money - presumably the shareholders of Doorway Capital. EAD would have gone under if the deal had not gone through. The article is silent on the reasons EAD needed to go into administration. The article makes play of the fact that EAD apparently made a healthy profit in their last filed accounts. What has gone wrong between now and then? It may be a coincidence but the professional indemnity season is upon us. There is always news at this time of the year about firms going under that fail to find appropriate cover. Are EAD one of them and if so why?