Mon, 12 Aug 2013 | ADMINISTRATION
RSM Tenon has been tasked with selling Challinors, a large solicitors firm situated in the Midlands.
RSM Tenon took over from KSA Group administrators at the start of August, and has received many expressions of interest from other law practices seeking to buy up all or part of Challinors.
Andrew Hosking, the national head of lender services at RMS Tenon, who is leading the administration process, wanted to deal with speculation that the administrators had broken solicitors’ practice rules by naming a list of clients of the firm in order to heighten interest in the sale.
He said it was “manifestly inaccurate to suggest we are bandying about clients names and details.”
All interested buyers have to sign a non-disclosure agreement before being able to view details regarding the business and sale. This data includes some “non-specific client information”, and Hosking was quick to add the regulator has been informed of this process.
“The Solicitors Regulation Authority is completely aware of how we are approaching this matter,” he added.
Challinors announced its move into administration on 24 July 2013, owing over £11 million to about 250 creditors, thought to include two clients that had lent a total of £650,000 to the business. It owes over £4 million to Allied Irish Bank and about £500,000 to HMRC.
Based in Birmingham, Challinors has offices in Wolverhampton, West Bromwich and Halesowen, employing a total of 200 staff.
Contact the administrator here
___________________________________________________________________________
Related information:
Eastleys Solicitors saved in a pre-pack administration
Profit from buying a distressed business
View financial businesses for sale
The business specialises in offering a range of consultancy and training solutions, including health and safety consultancy, training, ISO management consultancy, and fire risk assessment services. Operating on a regional B2B basis in the north of Sc...
Manufactures, supplies and installs structural steelwork, and designs and fabricates high quality steel products for internal and external applications
The company specialises in designing high-quality press and metal stamping tooling for the automotive industry. The company uses advanced CAD software, including CATIA V5 and Siemens NX, to support its comprehensive service offering, which includes d...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.