Failure of McClure Naismith leaves over 40 lawyers and staff redundant
Administrators arrange deals to move 15 partners and their staff to other law firms
A total of 42 partners and staff of Scotland's McClure Naismith have been made redundant after the commercial law firm entered administration over the weekend.
Administrators for the stricken firm say an anticipated total of 80 jobs will be saved by imminent moves to other firms.
Founded in 1826, McClure Naismith had offices in Glasgow, Edinburgh, and London, and employed 26 partners and 109 staff. However, the firm has been in financial difficulty since the global financial crisis hit in 2008, due, in part, to large property liabilities.
Tom MacLennan and Iain Fraser, partners with FRP Advisory, were appointed as joint administrators of the firm on Friday. The pair subsequently confirmed on Monday that deals had been agreed with a number of other law firms for the sale of work in progress related to the move of partners and staff.
A total of 15 former partners and 40 staff will be making the move to firms including Harper MacLeod, MacLay Murray & Spens, Burness Paull, Morton Fraser, and HBJ Gateley.
A further seven partners are said to be in advanced discussions with additional firms over their and their staff's moves. Four current and future trainees have also been saved with the offer of training contracts.
In addition, the joint administrators are retaining 14 of the firm's staff, with further developments expected regarding partners and staff who have yet to confirm destination firms.
MacLennan said: 'We are pleased to have negotiated agreements facilitating employment with a wide range of firms and wish them and their new staff every success.
'We would also like to extend our appreciation to the Law Society of Scotland and the Solicitors Regulation Authority for their support.'