Wed, 05 Feb 2014 | ADMINISTRATION
A law firm in the North East has entered administration, with reports from the Law Gazette indicating that the company will now be wound down.
Thought to be around 250 years old, Swinburne & Jackson called in the administrators earlier this week (3 February) and informed staff members about the issue on the same day. Gordon Goldie and Matthew Higgins from Tait Walker, a firm based in Newcastle upon Tyne, have been appointed as joint administrators.
Swinburne Jackson had headquarters in Gateshead, but also operated from various offices across the region, including bases in Hexham, Ryton, Washington and Chester-le-Street. They provided legal services in a number of different services, including Company and Commercial, Employment, Wills & Probate and Family, Criminal and Civil Litigation matters.
The legal regulator, the Solicitors Regulation Authority, confirmed to the Gazette that they have been informed of the closure and are working with the company to ensure that things are wound down in an “orderly” fashion.
The latest accounts filed by the business for the year ending 31 March 2013 showed a negative net worth of -£128,772. However, the company posted assets of £1,287,924 and cash reserves of £691.
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