Mon, 01 Oct 2012 | ADMINISTRATION
Manchester-based law firm, Linder Myers, has bought out the Shammah Nicholls LLP law practice in a pre-pack administration deal.
Linder Myers arranged the buy-out deal through the Manchester office of insolvency firm Begbies Traynor, after they were called in as administrators by Shammah Nichols – which has most recently been trading as SNG Commercial Law – on Friday.
The deal saves the jobs of 16 staff working at SNG and is the second buy-out deal carried out by Linder Myers in the last year, as part of its active business expansion plan.
The Business Desk has reported that SNG commercial had been struggling to service high levels of debts, including around £800,000 owed to lender, Allied Irish Bank. It had a turnover of £1.8 million but according to accounts for Shammah Nicholls LLP filed in May, it had some £704,570 of loans and overdraft payments due within one year.
The deal was struck with Linder Myers by Paul Stanley and Dean Watsion from the Manchester office of Begbies Traynor. It brings the current headcount of employees at Linder Myers to 275, including 47 partners, spread across offices in Manchester, Shrewsbury and Lancashire.
Operating across North Yorkshire, the company has two divisions, one that provides IT infrastructure and one offering renewable energy solutions, including solar PV systems and electric vehicle charging points.
The group specialises in supplying and installing UPVC windows, doors and conservatories in a wide array of styles. Bespoke bathroom panelling and high-quality guttering products are also provided by the two companies.
The company is a well-regarded specialist provider of hygienic wall, floor, and ceiling cladding systems. To complement its core supply of PVC cladding, the business offers hot welded joints to prevent the build-up of bacteria and can supply stainles...
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