All-time low for Slater & Gordon

Shares in embattled law firm Slater & Gordon slipped to an all-time low after the firm told investors that recovery in its UK business is taking longer than expected.

In a trading update to the Australian stock market ahead of its half-year results, the firm said its talks with lenders to recapitalise the group are expected to be concluded 'in coming months'.

It admitted that the continued support of lenders is fundamental as current debt levels exceed the company's total enterprise value.

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